Federal consolidation loans have fixed interest rates. The interest rates on federal consolidation loans are based on the weighted average of the interest rates of the federal education loans being consolidated, rounded up to the nearest 1/8th of one percent.
Using a weighted average roughly preserves the current interest rates of the loans.
Example:
- $5,000 loan at 3.4%
- $7,500 loan at 6.8%
- $10,000 loan at 6.8%
The interest rate on the federal consolidation loan would be:
($5,000 x 3.4%) + ($7,500 x 6.8%) + (10,000 x 6.8%) ÷ ($5,000 + $7,500 + $10,000) = 6.04%
This would be rounded up to the nearest 1/8th of one percent, or 6.13%.
| Monthly Payment Before Consolidation (standard repayment, 10 year term) | Monthly Payment After Consolidation (extended repayment, 20 year term) |
|---|---|
$5,000 loan at 3.4%: $50.00 $7,500 loan at 6.8%: $86.31 $10,000 loan at 6.8%: $115.08 Total: $251.39 | $22,500 consolidation loan at 6.13%: $162.82 |
There is no cap on the interest rates on federal consolidation loans.
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Your federal student loan consolidation interest rate is calculated using a weighted average of your current loans. See an example of the rate calculation.
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What is the interest rate on a consolidation loan? of the borrower's obligation to repay all or a designated portion of principal and interest on a student loan.
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But even though student loan consolidation the overall interest rate of your student loans may be note on a student loan what its interest rate
Consolidation Interest Rates | StudentLoanConsolidator.com
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medical bills, student loans a lower interest rate through a debt consolidation service than you're get out of debt, a loan consolidation only
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Interest Rates. The interest rate on a consolidation loan is the weighted average of the interest rates on the loans being consolidated, rounded up to the nearest 1/8
The interest rate for a Direct Consolidation Loan is the weighted The interest rate for Direct Consolidation Loans that were Direct Loans Interest Rates
Interest Rates - Student Loan Consolidation
Your federal student loan consolidation interest rate is calculated using a weighted average of your current loans. See an example of the rate calculation.
Student Loan Consolidation - What You Need to Know
More On Student Loan Consolidation: FAQs on student loan consolidation; Can student can be consolidated with other federal student loans. "The interest rate
Student Loan Consolidation-Consolidate Private Student ...
When you consolidate multiple student loans or refinance a single student loan, you may receive a lower monthly payment with a reduced interest rate or an extended
Loan Consolidation | Federal Student Aid
What is the interest rate on a consolidation loan? of the borrower's obligation to repay all or a designated portion of principal and interest on a student loan.
Should You Consolidate Your Student Loan Debt? - US News
But even though student loan consolidation the overall interest rate of your student loans may be note on a student loan what its interest rate
Consolidation Interest Rates | StudentLoanConsolidator.com
Private Student Loan Consolidation Interest Rates. Interest rates on private consolidation loans are set by each lender, not the federal government, and can be either
Direct LoansCalculators and Interest Rates
StudentLoans.gov Loan Servicers DL Consolidation Student Consolidation loans also have varying repayment Direct consolidation loan calculator. Interest rates.
Debt Consolidation Loan | Consolidate Debt with a Mortgage ...
medical bills, student loans a lower interest rate through a debt consolidation service than you're get out of debt, a loan consolidation only
FinAid | Loans | Student Loan Consolidation
Interest Rates. The interest rate on a consolidation loan is the weighted average of the interest rates on the loans being consolidated, rounded up to the nearest 1/8
