If reducing your monthly payment obligation on your student loans is a big goal, then learning more aboutstudent loan consolidation interest rates is absolutely crucial. Your payment could be up to 20% more or less each month depending on what your interest rate clocks in at.
Federal Student Loan Consolidation Rates
The interest rates for federal student loan consolidations are based on the weighted average of student loan interest rates. View the chart below to see where your loan falls in the spectrum.
Stafford Loan Interest Rates
Note: Graduate Stafford Loans (both subsidized and unsubsidized) have a fixed interest rate of 6.8% through 2013.
| Academic Year | Subsidized Rates | Unsubsidized/Graduate Rates |
|---|---|---|
| 2010-11 | 4.50% | 6.80% |
| 2011-12 | 3.40% | 6.80% |
| 2012-13 | 6.80% | 6.80% |
| Current Stafford Loan interest rates in effect from 07/01/2010 to 06/30/2011 | ||
Federal student loans will have different rates depending on type and disbursement dates. For example, rates for Stafford loan disbursed before July 1, 2006 will remain variable until consolidated.
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