St. Petersburg, FL June 3, 2004--Federal student loans are about to reach historically low rates, giving American Collegiate Financial Services (ACFS) customers the chance to save even more during the repayment of their student loans. As a result of the May 24, 2004 Treasury Bill auction, the new rate for students who are in repayment of loans issued after July 1998 is projected to be 3.37 percent, down from 3.42 percent. The new rate for parent PLUS loans will be set at 4.17, down from 4.22 percent.

Federal student loan interest rates are variable, subject to change annually on July 1. Rates are determined according to a formula based on the 91-day Treasury bill. Student loan holders in repayment or in their grace period are encouraged to consolidate their loans and take advantage of the lowest rates in the history of the federal student loan program.

"There has never been a better time to consolidate," said Nicole Knight, Director of Marketing at ACFS. "By consolidating now, borrowers are locking in on the lowest rates ever available, making repayment of their education easier and more affordable."

Last month, ACFS began holding consolidation applications until the release of the interest rate change, ensuring their customers the lowest possible rate. Since the rate will be dropping, ACFS will hold these applications until July 1, when the new rate goes into effect.

ACFS leads the student loan consolidation industry in customer service and continues to promise each student loan holder the lowest possible consolidation rate available.

For more information on student loan consolidation, call 1(800)304-1471 or visit www.OneStudentLoan.com




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