Georgia Student Finance Commission Promises Lowest Rate Guarantee
for Federal Consolidation Loans  

Effective May 15, Georgia Student Finance Commission (GSFC) will begin holding student loan consolidation applications to ensure that borrowers will receive the maximum benefit should interest rates drop effective July 1, 2004.  

Each year the interest rates for variable-rate loans are reset on July 1. Beginning May 15, GSFC will hold completed Federal Consolidation Loan applications until the new interest rate is announced. If interest rates rise, the application will be processed with the current interest rate. However, if the interest rates fall, GSFC will hold the application until after the July 1 rate change to ensure that the borrower receives the best interest rate. At any time a borrower may request that their application be processed immediately.  

In addition, GSFC offers borrowers a .35% interest rate reduction for utilizing auto-debit of payments for their Federal Consolidation Loan. 

Further information about GSFC’s Federal Consolidation Loan program can be found at www.gsfc.org or by calling toll-free at 1-800-505-GSFC. 

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