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Save by Consolidating College Loans

U.S. Education Department has issued a press release recommending borrowers could save money by consolidating college loans.

New interest rates become effective July 1st as student loan interest rates are adjusted annually according to a formula based on the interest rates of the 91-day Treasury bills.

Through loan consolidation, multiple outstanding student loans are combined into a single loan, and the interest rate is fixed for the life of the loan. Under the William D. Ford Federal Direct Student Loan Program, the consolidation rates are based on the weighted average of the borrower's underlying loans rounded up to the nearest one-eighth of a percentage point.

SFA helps about 8.5 million Americans through school each year and administers student loans and grants totaling about $50 billion a year.

Teachers Join the Internet Generation

While all full-time, regular public school teachers are now connected to the Internet, two-thirds of the teachers feel that thy are not prepared adequately to teach the new technology to their students.

A newly released survey "Teacher Use of Computers and the Internet in Public Schools" conducted by the Education Department's National Center for Education Statistics shows that teachers with more than 32 hours of professional development are twice as likely to use computers as are teachers with no such training. The report also points out that teachers in high-poverty schools have less computer access than those working in more affluent areas.

U.S. Secretary of Education is a strong proponent of providing $150 million funding to help prepare teachers to effectively use the ever-evolving technology.
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