Private Student Loan Consolidation Rates

Interest Rate As Low As 7.9%

Private student loan consolidation offers borrowers the benefit of a first year introductory interest rate equal to 3-Month LIBOR (London Interbank Offered Rate) plus 5% to 8.5%.

Origination fees range between 1% and 5% depending upon your individual credit or the credit of a co-signer. Fees are due at loan closing and are capitalized (added to the loan), which increases the amount borrowed but avoids any out-of-pocket expenses at loan closing.

View interset rate information for graduate private loan consolidation.

Undergraduate Private Consolidation Program Description:

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View interset rate example for graduate private loan consolidation.

Federal Consolidation Interest Rate

Federal Consolidation interest rates are based on the weighted average of student loan interest rates. Federal Stafford loans disbursed between July 1, 2006 and June 30, 2008 have an interest rate of 6.8%*. Stafford loans disbursed after July 1, 2008 have a rate of 6.0%.

However, Federal student loans disbursed before July 1, 2006 will remain variable interest rate loans unless consolidated. These loans will re-adjust every July 1 based on the results of the 91-day Treasury Bill. The rates listed below go into effect on July 1, 2008 for variable rate loans:

3.60% - Stafford loans in grace (down from 6.62%)
4.21% - Stafford loans in repayment (down from 7.22%)
5.01% - Parent PLUS loans (down from 8.02%)

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*Interest rates on Federal Stafford Subsidized and Unsubsidized Loans change yearly but will never exceed 8.25%.