Consolidation Loan Interest Rates

Consolidating student loans is the right move for some folks, especially if you need to get your loans into Federal Direct to earn Public Service Loan Forgiveness.

But how do you know what the interest rate will be on the consolidation loan?

The interest rate on a Direct Consolidation loan is the weighted average of the interest rates on the loans being consolidated, rounded up to the nearest 1/8 of a percent and capped at 8.25%.



More about consolidation loans and their interest rates is on Mark Kantrowitz's fabulous FinAid.org website.
Click here for the latest info on student loan interest rates.

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