The Interest Rate Of School Loan
Your interest rate will be based on a federal calculation that determines the weighted average of the interest rates of your existing loans rounded up to the nearest 1/8 of a percent.
- 3 Steps To Calculate The Weighted Average
- What Is So Great About A Fixed Rate?
- Can I Take Advantage Of School Loan Consolidation To Lock In The Interest Rate If I Still In School?
Currently Rates Are Set At The Following Points
- Stafford Loans in Grace : 6.54%
- Stafford Loans in Repayment : 7.14%
- Stafford Loans in Repayment Prior To 7/1/1998 : 7.94%
- PLUS Loans : 7.94%
- Perkins Loans : 5%
- Previous Consolidations : exiting consolidation rate
These rates do not represent the final lower rates that you would receive with consolidation with any applicable incentives.