Sometimes things are just so wrong: (OT)

Having a background in financial aid, I keep up to date on many things. On Feb 1, congress passed some changes to the federal budget that will affect every person in the country holding Stafford loans. In addition to disallowing students to lock their interest rates while in school (while they are at historic lows), they have made it illegal to use a free federal product (student loan consolidation) with any lender other than those who currently have your student loans. This means that even if another lender has a better interest rate, you are beholden to your current lender. If they provide you with poor service, you can not change. (These changes go into effect on July 1st. In order to avoid them you should consolidate before the deadline.)

The most disturbing part of this is how it evolved. Please take a moment to read this article and you will get an idea of how John Boehner and Sallie Mae have single handedly changed increased the cost of college for every student in the country. It is truly gross.

Other Reading:
New Bill Hurts Student Loan Program
Worries Mount With Rising Student Loan Rates
New Federal Legislation Makes it Important to Consolidate Loans

Sadly,
Mike