Student Loan Consolidation Interest Rates


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	Lock-In Fixed Rates
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1-800-895-1911
to discuss your reduction plan

You Can Lock-in Low, Fixed Interest Rates

•

What Does It Mean to You:
It means that if you consolidate your federal loans now, you can lock-in your low FIXED interest rate for the repayment term of your loan.

	Old Stafford Rates		New Stafford Rates
Loan Date	Grace Period	Repayment Period	Grace Period	Repayment Period
7/98-6/05	2.77%	3.37%	4.70%	5.30%
7/95-6/98	3.57%	4.17%	5.50%	6.10%
7/94-6/95	4.17%	4.17%	6.10%	6.10%

	Old PLUS Loan Rates		New PLUS Loan Rates
Loan Date	Repayment Period		Repayment Period
7/98-6/06	4.17%		6.50%
7/95-6/98	5.26%		6.50%
7/94-6/95	5.26%		5.26%
where does the low advertised interest rate come from: click here

Calculating Your Consolidated Interest Rate

Your FIXED consolidated interest rate is based on a weighted average of the loans being consolidated rounded up to the nearest 1/8 of a percent.

For example, if your student loans were disbursed from July, 1998 to the current date, your fixed consolidation interest rate will be as follows:
- in-grace consolidation: 4.75%
- in-repayment consolidation: 5.375%

Steps to calculate your actual consolidation rate

Enter each loan balance that you want to consolidate with its current interest rate. Press calculate. It will multiply the balance by its current interest to give you a weighted factor for each loan:

Loan Amt

Interest Rate

Weighted Factor

% =

Add the weighted factors together to get a weighted average:

Sum the outstanding balance of all loans:

Divide the weighted average by the loan balance. Convert the division to a percentage:

Now round the percentage up to the nearest 1/8 of a percent or 8.25%, whichever is less. This is your estimated consolidation fixed rate:

Your interest rate will not exceed 8.25% and it will remain fixed for the life of your loan.

Information about the in-grace discount.

Apply Online w/e-sign: click here

or dial toll-free to discuss your plan: 1-800-895-1911

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