rate hike

the Fed raised interest rates for the 9th time this year. today is july 1st, the deadeline for consolidating student loans to lock in the current low rate. the rate for for staffod loans is taking an enormous leap for 2.77% to 4.7%. for the typical student who may have debt from undergrad and grad school, this has HUGE implications.

amazingly, schools have done a piss poor job of educating their students about how to manage their finances. i have close friends in several different graduate programs and their administrators/faculty told them zip. if a university is going to saddle their students with tens of thousands of dollars of debt, the least they can do is offer some support to manage that debt.

a few classmates of mine found this situation unbelievable as well. they started a company called Graduate Leverage that travels to campuses to infom students how to manage their debt, explain how interest rates and repayment terms work, and how to take advantage of loan consolidation. note: the company is for-profit and sells the students on consolidating with them.

check out their flash presentation by clicking here. it's really well done and succicnt.