There is a limited-time opportunity for WVU alumni to refinance their student loans at a lower interest rate.

Higher Education Amendments of 1998 includes a provision that sets a new interest rate formula that has resulted in an interest rate of 7.46 percent for all new federal student loans. This low interest rate also will be applied to Direct Consolidation Loans until January 31, 1999. This means that alumni with a Direct Loan or Federal Family Education Loan can now apply to refinance their loans at the lower interest rate.

For information on refinancing student loans, borrowers can call the Loan Consolidation Network at 1-800-557-7392 from 8:00 a.m. to 8:00 p.m. EST. Borrowers must apply for the lower interest rate by January 31, 1999.