The interest rate for a federal consolidation loan is determined by calculating the weighted average of the interest rates of the federal student loans being consolidated, rounded up to the nearest one-eighth of one percent, not to exceed 8.25 percent.
The interest rate on a federal consolidation loan is fixed for the life of the loan.
You can use our student loan consolidation calculator to estimate the interest rate that would apply to your federal consolidation loan. The student loan consolidation calculator can help estimate monthly payment amounts for your federal consolidation loan. You can also contact a Student Loan Consolidation Consultant who can research your federal student loans and estimate your interest rate and payment amounts.
If you're not sure about the interest rate on your current federal student loans, you can use the chart below for assistance:
Federal Student Loan Product
Student Loan Disbursement Date
Interest Rates
PLUS
7/1/1998 - 7/1/2006
8.02%
PLUS
After 7/1/2006
8.5% FFELP, 7.9% Direct
Stafford
7/1/19981 - 7/1/2006
6.62% (grace); 7.22% (repay)
Stafford
After 7/1/2006
6.8%
1 Stafford and Plus loans disbursed prior to July 1, 1998 have slightly higher interest rates
