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Will my interest rate change if I consolidate my FFEL Program loans, Perkins Loan Program loans, or Health Professions Student Loans into the Direct L
The interest rate on a Direct Consolidation Loan is the weighted average of the interest rates of the
loans being consolidated, rounded up to the next higher one-eighth of one percent. There is no cap on
the interest rate for Direct Consolidation Loans. This is a fixed rate that applies for the life of the loan.
Because of the rounding up, the fixed interest rate on the new Direct Consolidation Loan may be
slightly higher than the combined interest rates on the loans you are consolidating.