Attorneys and Law Students Get One Last Chance

29 June 2006

This Friday, June 30, marks the last chance for attorneys and law students to save tens of thousands of dollars on their student loans.

Law School Loans, an education lending company working exclusively with law students and attorneys, has student loan specialists working 24 hours a day all week to ensure that J.D.s have every opportunity to save money while they still can.

As soon as the clock strikes midnight and the date changes to July 1, interest rates for all student loans will rise by around 2 percent.

"I know it doesn't sound like a lot. Two percent -- that's nothing! But what you don't realize is how much this adds up to over the life of a typical loan," said Law School Loans CEO A. Harrison Barnes.

"Suppose you're an average law school grad. You went to a decent school, and you racked up some debt. For most of our clients, their student loan balances are around $100,000. I've seen people who were unlucky enough to get really high interest rates and who ended up paying over $200,000 over several years."

Barnes also noted that because the deadline is approaching so rapidly, he has guaranteed J.D.s that consolidation specialists will be available around the clock, 24 hours a day, until 11:59 p.m. on Friday night, when interest rates will rise and the opportunity to consolidate at the current, low rates will disappear.

Currently, Law School Loans is experiencing a monumental flood of emails and phone calls from attorneys and law students interested in consolidating before time runs out. Because of this, borrowers are encouraged to contact a consolidation specialist as soon as possible to avoid missing the federal deadline.

"This is one situation where hesitation alone can be very expensive," said Barnes.

"In the words of Sir Walter Scott, law students and attorneys with student loans need to 'think things through, then follow through.' Not following through on consolidation before July 1 will cost some people more than they can imagine."

Law School Loans consolidation specialists are available to assist all J.D.s with student loans. They can be reached at 800.659.8344 or on the Web at LawSchoolLoans.com.

Media Contact

Anne O'Dell

Law School Loans

626.243.1838

Source: prnewswire

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