Consolidate stafford loan

College students, welcome to the real world. You know those historically low interest rates you've been paying on your student loans--2.77 percent on Stafford loans, for example? They're about to end. Rates are recalculated every year. And since short-term rates have spiked since the last reset, that could translate to a 2 percentage-point bounce after July 1. That gives students, recent grads, and parents only a short time to consolidate their loans at this year's low rate. Wait too long, and the variable rates on your existing loans will shoot higher, says Mark Brenner, president of College Loan Corp.