Posted By: Brad Martin

Thu Nov 9, 2:30 PM ET

ADVERTISEMENT

var lrec_target="_top";var lrec_URL=new Array();
lrec_URL[1]="http://us.ard.yahoo.com/SIG=12gm2qshd/M=540720.9558277.10292386.1442997/D=news/S=82389257:LREC/_ylt=A9FJqZjoK1VF3W8BXQAJKekE/Y=YAHOO/EXP=1163216904/A=4104668/R=0/id=flash/SIG=11m6h82to/*http://www.asseenontvnetwork.com/track/click/257466/";
var lrec_fv="clickTAG=javascript:lrec_window(1)";
var lrec_swf="http://us.a2.yimg.com/us.yimg.com/a/li/livemercial/110706_ny_lrec_swf.swf";
var lrec_altURL="http://us.ard.yahoo.com/SIG=12gm2qshd/M=540720.9558277.10292386.1442997/D=news/S=82389257:LREC/_ylt=A9FJqZjoK1VF3W8BXQAJKekE/Y=YAHOO/EXP=1163216904/A=4104668/R=1/id=altimg/SIG=11m6h82to/*http://www.asseenontvnetwork.com/track/click/257466/";
var lrec_altimg="http://us.a2.yimg.com/us.yimg.com/a/li/livemercial/110706_ny_lrec_gif.gif";
var lrec_w=300;var lrec_h=250;
if (window.yzq_a == null) document.write("");if (window.yzq_a)
{
yzq_a('p', 'P=kfb3bULaS.YvESsWdfV5hw7oSDRIwkVVK.gADETR&T=1b4ndhnvs%2fX%3d1163209704%2fE%3d82389257%2fR%3dnews%2fK%3d5%2fV%3d1.1%2fW%3d8%2fY%3dYAHOO%2fF%3d1967831257%2fH%3dY2FjaGVoaW50PSJuZXdzIiBjb250ZW50PSJMb2FuO1NBTjtzdHVkZW50IGxvYW5zO2xvYW47aW50ZXJlc3QgcmF0ZXM7aW50ZXJlc3QgcmF0ZTtjb25zb2xpZGF0aW9uO0NvbnNvbGlkYXRpb247TG9hbnM7bGVuZGVyO2xlbmRlcnM7bG9hbnM7U2FuO2VkdWNhdGlvbjsiIHJlZnVybD0iIiB0b3BpY3M9IiI-%2fS%3d1%2fJ%3d98A949D1');
yzq_a('a', '&U=13atqp4qb%2fN%3dIiOnAEJe5tM-%2fC%3d540720.9558277.10292386.1442997%2fD%3dLREC%2fB%3d4104668');
}

To: National Desk, Financial Reporter

Contact: Joseph Caruso of the Glover Park Group, 202-337-0808, or jcaruso@gloverparkgroup.com or Tracy Neumann of the College Loan Corporation, 858-716-1503, or tneumann@collegeloan.com

SAN DIEGO, Nov. 9 /U.S. Newswire/ -- For 2006 graduates who have not already consolidated their student loans, the time is now. The deadline to lock in low student loan interest rates is rapidly approaching.

Graduates have six months from their graduation date -- a period known as the "grace period" -- to consolidate their federal student loans at a discounted rate. Graduates who consolidate during their grace period receive a 0.6 percent interest rate reduction, with some students consolidating at an interest rate as low as 6.625 percent. The lowest consolidation rate increases for graduates who miss this important deadline, however, to 7.25 percent.

Besides the low, fixed interest rate, consolidation offers other benefits as well. Repayment periods for Consolidation Loans are more flexible, allowing students to extend repayment beyond the 10 year maximum for Stafford Loans to lower the monthly payment. Depending on their principal balance, graduates can extend their repayment term up to 30 years. Borrowers can also benefit from the convenience of a single monthly payment.

"Graduates should not miss this important deadline," said Rob LaBreche, president of consumer marketing for College Loan Corporation. "The grace period is the perfect time for the Class of 2006 to consolidate to lock in a lower interest rate with the option to lower their monthly payments."

Graduates should also be careful to shop around for additional benefits offered by their student loan providers. Thanks to the changes in the law, the Class of 2006 will be the first wave of graduates empowered to consolidate with any lender they prefer. Prior to this year, many students interested in consolidating were limited to choosing their original lender and could not take advantage of the first-class service and powerful borrower benefits offered by lenders like College Loan Corporation (CLC). Graduates should compare the customer service and benefits offered by each lender and choose which works best for them.

Those who choose CLC's Consolidation Loan receive a 0.25 percent interest rate reduction for enrolling in automatic payments. In addition, College Loan Corporation offers a cash rebate to graduates who consolidate their loans and then make nine payments on time.

For more information on Consolidation Loans, graduates and their families can call College Loan Corporation at 1-800- 2COLLEGE 24 hours a day, seven days a week to speak to expert loan consultants or visit http://www.collegeloan.com for additional information or to begin the application process.

-----

About College Loan Corporation

College Loan Corporation (CLC), headquartered in San Diego, is the nation's seventh largest student loan provider, managing more than $9 billion in student loan assets. By offering innovative loan products and industry-leading customer service, the company has helped make higher education possible for more than 700,000 students and families. More than 900 colleges and universities have designated College Loan Corporation as a preferred lender. CLC's student loan hotline offers expert loan consultants 24 hours a day, seven days a week at 1-800-2COLLEGE.

http://www.usnewswire.com/

-0-

/© 2006 U.S. Newswire 202-347-2770/

The information reported above is property of Yahoo! inc. and reprinted or modified with legitimate permission.