COSTEP Launches Unique Scholarship Program for Facebook Members COSTEP, a not-for-profit servicer of student loans, announced that it has launched their “Scholarship Caps” program on the popular online social network Facebook. Facebook boasts 35 million members as of July 2007, with a core membership consisting of those who are in college or near college-age. Being made available to eligible Facebook members is a total of $5,000 in scholarships. “Facebook members explain why..

Students and parents are now preparing for the interest rate hike on student loans by consolidating before new interest rates go into effect. Beginning July 1, 2007 student loans, with variable interest rates, will rise by .08 percent. “This is not a huge increase, but why pay at the higher rate if you don’t have to,” said Mari Mann-Silva, vice-president of Financial Operations, for the not-for-profit Council for South Texas Economic Progress (COSTEP). Rates have increased over..