"This will ensure that you can take an informed decision that will assure you of the best possible terms available."

Mortgage Loan

Interest rate


The interest rate for FFEL and Direct Consolidation Loans is set according to a formula established by federal statute. The fixed rate is based on the weighted average of the interest rates on the loans at the time you consolidate, rounded up to the nearest one-eighth of a percent. The interest rate does not exceed 8.25 percent. The consolidation rate is fixed for the life of the loan, which protects you from future increases in variable rate loans but prevents you from benefiting from future decreases in variable rates.

Borrowers with Stafford Loans issued on or after July 1, 1995, can reduce the consolidation rate by up to half a percentage point or more by consolidating before the end of the grace period.

If a borrower wanted to consolidate only Direct or FFEL Stafford Loans made between July 1, 1998 and June 30, 2006, the 2006-07 Consolidation Loan interest rate for loans that have entered repayment would be 7.14 percent. To consolidate those same loans during a grace or deferment period, the rate would be 6.54 percent. If a borrower consolidated PLUS Loans made between July 1, 1998 and June 30, 2006, the interest rate for the resulting PLUS Consolidation Loan would be 7.94 percent.

The interest rate you would receive, however, depends on which federal student loans are being consolidated. For example, your rate would be higher if you consolidated a 5 percent Federal Perkins Loan along with a 6.54 percent Direct or FFEL Stafford Loan.

Direct Consolidation Loans - Welcome!!!
The Direct Consolidation Loans Web Site-this U.S. Department of Education web site provides information to borrowers, schools, and loan holders. Borrowers can apply online for ...
LOAN CONSOLIDATION
Exit Counseling is designed to assist you in establishing repayment schedules for loans incurred while you were at Boston University Medical Campus.
Student Loan Consolidation
ESF Consolidation, the student loan consolidation division of ESF, is your source for information on college and university admissions, student loan consolidation, student ...
Loan Consolidation
U.S. Department of Educations Collections for Defaulted Student loans Guide - Information about loan consolidation options that are available to borrowers.
Loan Consolidation
The University of Maryland, Baltimore, is the state's public academic health and law university devoted to professional and graduate education, research, patient care, and public ...

Private Loans - Education Loans

This is a paradox that many cannot explain themselves; it seems that the deeper a person is in debt, the more reluctant he/she will be to ask for help.

 

However, if you do so at an early date, you will be able to negotiate better terms and conditions for your loan, than when you are on the brink of bankruptcy.