Like most college students, if you are thinking about college loan consolidation, you want to find out student loan consolidation rates. Even if you already have consolidated your college loan, staying updated on student loan consolidation rates is essential. So what are the rates as of now? First, let's make the distinction between federal consolidation interest rate and private consolidation interest rate.
Federal Consolidation Interest Rate
The interest rate for federal college loans is the weighted average of the interest rates of all your student loans. Take all your student loans interest rates, add them up and divide them by the number of loans and you will have a good idea of the rate for your particular loans.
Private Consolidation Interest Rate
There is no hard and fast rule for student loan consolidation rates when it comes to the private sector. It depends on each college loan consolidation company. You should call a few to get a quote, and go with the one you feel suits you best and gave you the most satisfying rates. Many such companies offer you to apply online or by phone once you've found out the student loan consolidation rates you are looking for.
Federal Consolidation Interest Rate
The interest rate for federal college loans is the weighted average of the interest rates of all your student loans. Take all your student loans interest rates, add them up and divide them by the number of loans and you will have a good idea of the rate for your particular loans.
Private Consolidation Interest Rate
There is no hard and fast rule for student loan consolidation rates when it comes to the private sector. It depends on each college loan consolidation company. You should call a few to get a quote, and go with the one you feel suits you best and gave you the most satisfying rates. Many such companies offer you to apply online or by phone once you've found out the student loan consolidation rates you are looking for.
