The latest news, trends and information to help you with your recruiting efforts.

Posted June 19, 2007 by

1-888-MyStuLoans Consolidation Helpline Launched

OneSimpleLoan®, an Oldsmar, FL-based national student loan finance and consulting firm, today launched a toll-free student loan Consolidation Helpline, 1-888-MyStuLoans (1-888-697-8856), for student loan borrowers seeking help with consolidating their student loans, just in time for the industry’s annual July 1st rate change.
This is a superb opportunity for student loan borrowers and their parents to obtain straightforward clarity on available student loan consolidation options, especially prior to the July 1st rate increase.


Posted June 08, 2007 by

Consolidation Interest Rate Increase July 1st — Big Deal or Not?

Interest rates for student loan consolidation will go up a whole eight (8) basis points effective mindmight, June 30, 2007.
Notice we said basis points, which means .08. While that may not sound like much, it still means that if you don’t consolidate now while you can, your interest rate will go up on July 1st.
Frankly, why give any money away if you don’t have to, no matter how little it may be?
In addition, don’t overlook the value of consolidating during your grace period, which is the 6 months right after you separate or graduate from college. Consolidation during grace period means you can earn another .60% interest rate reduction over the life of the loan. Now that can add up to several thousand dollars!
To answer the question, yes, July 1st a big deal. Because no matter how you look at it, the federal consolidation program is a boon to student loan borrowers So don’t leave money on the table; consolidate your student loans now, if you can!

Posted July 18, 2006 by

Student Loan Consolidation after July 1st — Still a Smart Move?

Now that the July 1st mad dash has come and gone, the question now is “with interest rates higher, does it still pay to consolidate my student loans?”
For many people saddled with student loan debt, the answer is still a resounding yes.
> You may be able to cut your interest rate by 42%, because you may able to obtain rates as low as 5.375% including rate reduction borrower benefits.
> Interest on student loan repayment may be tax-deductible (check with your tax advisor or the IRS for details), which may lower your actual cost of borrowing.
> Student loan consolidation can improve your credit score. By consolidating several student loans into one, the credit bureaus see one loan debt instead of several. This can help improve your FICO score, so that you can potentially qualify for and/or earn lower interest rates on other credit products such as additional student loans, a car loan, mortgage or other personal loan products.
> Consolidation can offer peace of mind. Wouldn’t it be nice to know that you’ve done all you can to manage your student loan debt so that you can get on with your post-education career?
Make it a priority now to explore your consolidation options with a reputable student loan company, to see if consolidating your student loans is a smart move for you.

Posted June 22, 2006 by

Only One Week Left to Lock-In Lower Interest Rates

With only a week left before the July 1, 2006 student loan interest rate increases, the “noise” about consolidating your student loans now is about to be amplified.
However, let’s take a moment to reflect on this most interesting time…
• Have you noticed how members of Congress have jumped on the “consolidate now” bandwagon? With the cost of college tuition going up, students have had to take out more loans. And more loans at higher interest rates means an onerous student loan burden upon graduation. And the kids and parents are all voters or potential voters, which makes members of Congress sit up and take notice.
• A student loan consolidation firm, OneSimpleLoan®, is challengng the Department of Education’s early termination of two-step consolidation, a process to help more students to lower their borrowing costs. Isn’t it a bit ironic that a government agency advocating education in our country takes away such a benefit?
• However, there is a bright light to all this. The recent repeal of the single holder rule has now provided borrowers who have all their student loans with one lender the privilege of shopping around for a consolidation company that will work best for them. The government taketh away one thing, yet the government giveth back something else. We wonder, why does there even have to be a trade-off?
So as you contemplate all the consolidation offers and ads about low rates, rebates and give-aways, we strongly encourage you to read the fine print. Like anything else in life, you get what you pay for. Shop around, yes. But be sure to speak with consolidators who will give you the straight facts on rates, “borrower benefits,” repayment terms and yes, on fine print.
After all, with one week left, you’ll want to make the right decision that will affect your financial affairs for years to come.

Posted June 19, 2006 by

OneSimpleLoan® Lawsuit Catalyst for Repeal of Single Holder Rule

Oldsmar, FL- June 19, 2006 – OneSimpleLoan’s® lawsuit challenging the U.S. Department of Education’s early termination of the ‘two-step’ consolidation program was a critical catalyst in the repeal of the single holder rule. The repeal of the single holder law went into effect with the approval of the Emergency Supplemental Appropriations Act (i.e., H.R. 4939).
“It’s a victory for OneSimpleLoan but even a larger victory for our nation’s students,” said Paul Simino, President of OneSimpleLoan, a firm specializing in personal student loan consolidation. “Thanks to our lawsuit, students will have more options in refinancing their student loans.”
This repeal means that student loan borrowers will be able to consolidate their student loans through a variety of student lenders and will no longer be tied to their original lender. This will allow borrowers to take full advantage of the consolidation offers with the most favorable terms regardless of lender.
“Student borrowers are about to get hit with one of the most dramatic single-year rate hikes in the history of federal student loans,” Simino explained. “Our lawsuit had its intended result for students: the opportunity to find lower interest rates and best possible repayment terms.”
OneSimpleLoan is a member of the National Council of Higher Education Loan Programs (NCHELP) and the Florida Association of Student Financial Aid Administrators (FASFAA) and has over twenty years’ combined experience in personal student loan consolidation.

Posted June 15, 2006 by

Single Lender Rule Repealed!

President Bush signed the Emergency Supplemental Appropriations Act (H.R. 4939), which includes the repeal of the single holder rule (also known as the ‘single lender rule’).
This means that those of you with student loans all with one lender now have the option to shop around for the best rates and customer service, rather than be held hostage to the lender who holds all your student loans.
Given that interest rates are scheduled to jump by nearly 2 percentage points next month, now’s the time to consolidate your student loans, single lender or not.

Posted June 10, 2006 by

Student loan rates didn’t just jump; they skyrocketed!

The student loan rates effective July 1, 2006 are now officially in, and believe us, they’re not pretty.
Interest rates on Stafford and PLUS loans disbursed prior to July 1, 1998 will be 1.84 percentage points higher on July 1. For student loans disbursed after July 1, 2006, Stafford and PLUS loans will have a 6.80% fixed rate of interest. (Additional interest rate information is available here.)
Of course, these rates have an impact on student loan consolidation rates, too. Consolidated student loans are based on a weighted average of the rates on those existing student loans you wish to consolidate, rounded up to the nearest 1/8th of one percent or 8.25%, whichever is less. So, the higher your interest rates on your individual student loans, the higher your consolidation loan interest rate.
Now you may think that 2 percentage points is no big deal. However, the power of compounding means that you could pay thousands more in interest fees over the life of a consolidated loan.
That’s why you’re encouraged to “jump” now consolidate your student loans before the July 1st rate hike.

Posted May 24, 2006 by

May 31, 2006 is D-Day (or “T”-Day”?) for Student Loans

The auction fo the 91-day Treasury Bill at the end of May will establish the student loan and student loan consolidation rates to go into effect July 1, 2006. Given the Federal Reserve’s penchant for raising rates this year, it appears that student loan rates are going to increase to the highest they’ve ever been in the last several years.
Stafford loan rates may reach 6.99% and PLUS loans 7.79%…gone are the days of 4.5% and 6.1%, respectively.
However, if you can, consolidate your student loans before July 1, so that you can lock in these pre-July 1 lower rates as well as obtain longer time to repay your student loans. For more information about consolidation, visit
You may think this is just another marketing gimmick, but it isn’t. Even Senator Ted Kennedy and his Congressional colleagues are encouraging consolidation (see!

Posted May 19, 2006 by

Will A Lawsuit Resuscitate Reconsolidation of Student Loans? We Can Only Hope So…

Two American education loan borrowers and an education loan finance company (OneSimpleLoan of Oldsmar, FL) filed suit on April 18, 2006 in U.S. District Court of the Southern District of New York against the U.S. Department of Education. The suit resulted because of a little known provision in the Deficit Reduction Omnibus Reconciliation Act of 2005, that will on July 1, 2006, terminate the right of middle class Americans to refinance their consolidation loan debts under the Federal Family Education Loan Program, made even worse by the unpublicized and obscurely worded letter of the U.S. Department of Education that terminated those rights three months earlier by bureaucratic fiat.


Posted May 11, 2006 by

What Yesterday’s Fed Rate Hike Means for Student Loans

Yesterday, the Federal Reserve raised short term interest rates by 25 basis points. The new target rate for federal funds is 5.0%.
What’s the impact of this rate hike on student loans? Frankly, more pain…. The interest rate on most outstanding Stafford and PLUS loans is reset each July based on the 91-day Treasury bill auction in late May. Because the 91-day T-Bill rate generally tracks the federal funds rate, the repayment rate of Stafford loans made since July 1998 is expected to be around 7.3%. The rate on PLUS loans will be around 8.1%.
We’ll know for sure what the exact rates will be on May 30, after the final May t-bill auction. So if you’re eligible to consolidate your student loans, do it now so you can lock in your interest rates and avoid this hit in your wallet!