The low interest rates will be around through June 30, 2002. People don't have to stampede to do this. So take your time and do some research first. A consolidation loan is not something you want to rush into. Once you consolidate, there's no going back.
Consolidation loans are basically custom loans.
They need to make an informed decision when they consolidate. Because once they do it, it can't be undone. Someone with different types of federal loans or someone who is planning on going back to school may decide a consolidation loan is not for them. Each borrower has a different set of circumstances. They need to make sure they understand what they're doing.