You are paying way too much for your Federal student loans, and your sick and tired of never having extra cash on hand for the things you'd like to be doing, and feeling a bit disillusioned about what life after graduation would be like. Your not alone! Millions of College Graduates are having the same feelings, facing the same fears, and wondering what in the world happened. It wasn't supposed to be like this!

You may have had wide eyed visions of dinner parties and dining out. Driving a nice car and climbing your way up the corporate ladder. But it takes time to climb the ladder of success and in the meantime, once you graduate, your student loan grace periods begin to expire and before you know it, your deep in debt and in the red each month with no bling left over for any of those things you looked forward to being able to do.

So you work and you scrimp and you save, but now the payments are behind and the service charges and late fees are adding up and you're not earning enough yet to make up for it. So what happens now you ask' STOP... that's what.. and listen closely if you want this seemingly endless circle to stop so you can catch your breath.

Have you ever considered the possibility of consolidating your student loans? When you consolidate, you take all your student loan payments and combine them into one new consolidated student loan, one with a much lower payment total than what you had been paying. The most common reason graduates choose to go this route is to lock in a new loan with a much lower interest rate, which in turn creates more cash flow for you each month and more cash on hand for other expenses you'd much rather be spending your hard earned money on. Choosing to consolidate your student loans can save you as much as 63% from what you were paying for your student loans prior to consolidating.

If this sounds like something you may consider doing, I hate to pressure you, but you need to be aware that if you are in fact thinking of consolidating your student loans, you need to act fast and do your research to find a reputable lender and apply as soon as possible because come July 1st 2006, just a short time from now, the Government is going to do it's yearly student loan interest rate adjustment and students all across the US are going to feel a crunch like no one has ever felt before. And it happens this year! Up until now, this has shown little effect on those desiring to consolidate their loans.

The US Senate has already announced that this is to be the single largest student loan interest rate hike we have ever seen. Federal Direct and Stafford loans alone will see a rate increase from 4.7% to 6.8% which equals ALOT of extra money flying out the window each month in interest alone! Their reason? The Senates $40 billion dollar deficit reduction plan, and the student loan industry will be hit the hardest.

You must take action and get busy right now! Make sure you know what kind of student loans you presently have (Direct loan, Stafford loan, private loans etc) and what the grace periods are for each student loan that you have and what your eligible for. Then go on a massive hunt for the most reputable and established Lender you can find and fill out an application so you can lock in today's low rates before the hammer falls on July 1st.