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Borrowers flooded the department of Education and l repealers with phone calls as they rushed to start the deadline to consolidate student loans before divert rates rise.The variable interest rate on federal student loans will rise nigh 2 percentage points after midnight Thursday. Some borrowers could save thousands of dollars over the lives of their loans by consolidating at the lower rate.The unusually sharp increase has prompted a flourish of last-minute inquiries, causing back-ups for banks 800 numbers and at the Department of Educations Direct impart Servicing Center, where at least some calls werent getting through Wednesday.Department spokeswoman Susan Aspey encouraged borrowers to file electronically -- the department added nine Internet servers for extra traffic -- or to call at off-peak measure. The center will dwell open until midnight Pacific time Thursday.Borrowers can generally apply for consolidation loans online, but the process can be tricky and they ofte n end up phoning lenders with inquiries."The hoi polloi is tremendous," express Jennifer Darwin, a spokeswoman for Charlotte, N.C.-based Wachovia Corp., which said call volume was up 51 percent compared to a year ago.A spokeswoman for Charlotte-based border of America said callers should expect to be on hold an min or more, even though the bank has added staff to field calls. otherwise companies said their preparations worked. Mark Brenner, president of San Diego-based College Loan Corp., said 97 percent of calls were being answered within 30 seconds.At Collegiate Funding operate in Fredericksburg, Virginia, executive vice president Clark McGhee also said close queries were being answered, thanks to extra staff and overtime, despite several times the usual volume. Pennsylvanias Higher Education Assistance Agency had managers answering calls, which were at more than twice the usual volume.Some lenders bombarded students with reminders encouraging them to consolidate, bu t it didnt hold back a last-second rush."Youd be surprised how many students out there maintain no idea what interest rates have been doing and what it means for them," said Matthew Steingraber, vice president of marketing at Academic Financial function in Tampa, Florida, where volume is about 50 percent higher than normal.