Student Loan Consolidation Rates

The rate on your federal consolidation loan will be based on the weighted average of the interest rates (before any lender discounts) on the loans you’re consolidating, excluding Health Education Assistance Loans (HEAL). The weighted average is rounded up to the nearest 0.125%, with a maximum rate of 8.25%. This rate will be fixed for the life of your consolidated loan.

Fees

By law, lenders cannot charge an application fee for federal consolidation loans. This law also applies to loan guarantors.

Terms

You may have up to 30 years to repay your student consolidation loan, depending on the total outstanding balance of your student loans. Extending your repayment period can increase your total interest paid, since you’re making smaller principal payments over a longer period of time. But consolidation loans have no prepayment penalties, so you can always choose to accelerate repayment without incurring additional charges.

Federal Consolidation Loans offer several repayment options, including extended, graduated and income-sensitive repayment, as well as deferment and forbearance benefits.

More About Federal Consolidation Loans

» Apply online with Electronic Signature!
» Before and After
» Eligibility
» Loan Amounts
» Rates, Fees, and Terms
» Top Questions About Consolidation Loans
» More About NextStudent Consolidation Loans
» NextStudent Custom Consolidation Loan Calculator