Student loan consolidation interest rates  

Posted by Talkingbees-Learn Bengali-Hindi-Online-USA-London in , , ,

Student loan consolidation interest rates:

For the best type of student loan consolidation interest rates, you can find them on the internet. 

All you have to do is contact the lending companies that are willing to give you affordable repayment plans. Always look for those companies or sites who take time to share great financial advice, especially on how to effectively handle and manage your multiple college loans.

Do a research for the lowest interest rate reductions. On the market there are two available reductions. The first one says that most lenders offer reductions for consecutive on-time payment. 



The interest rates for student loan are based on annual rate in United States. These rates can be anywhere between minimum of 4.70% to maximum of 8.25% for the Federal Stafford loans and 9% for the Plus loans.

Student loan consolidation rates are not that different than what a graduate is already paying. The new rate on a student loan consolidation is simply the weighted-average of someone's current loan rates, rounded up to the nearest one-eighth of a percent (.125%).

For example, if three-quarters of your loan is at 8% and one-quarter is at 6%, the new rate would be calculated as the follows:

8% x .75 = 6.00%  

plus 

6% x .25 = 1.50%

Total New Rate = 7.50%

But it  is advisable first to check and study the terms and conditions that are presented by the college debt and loan provider.


This entry was posted on Tuesday, May 26, 2009 at 5:53 PM and is filed under , , , . You can follow any responses to this entry through the comments feed .

28 comments

Very informative post. This is really helpful to those who want to pursue college degree.

May 30, 2009 at 10:25 AM

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May 30, 2009 at 11:31 AM

Generally I agree, good information.
But, for me, I prefer to loan in my country, not too complicated, hahaha...

May 30, 2009 at 1:48 PM

Nice information for student.

May 30, 2009 at 2:45 PM

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May 30, 2009 at 3:43 PM

Good post, I assume that now internet is very useful and important for our lives....

May 30, 2009 at 5:01 PM

thank you for this post

May 30, 2009 at 5:19 PM

as a student, 100% satisfied with your post. thanks

May 30, 2009 at 8:47 PM

thank u for all of your comments

May 31, 2009 at 12:47 AM

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May 31, 2009 at 1:51 AM

Yeah, but just don't go to UNIVERSITY OF PHOENIX, ONLINE COLLEGE! They will RIP YOU OFF! They did my daughter. They lie; They say you don't have a loan, but then you get bills from Banks, saying you owe $15,000.00. They are Bull Snizzles!
And these banks should be calling the students to make sure this is what they want, but OH NO! why, when they can be sneaky too so that you now have a loan with them

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June 25, 2009 at 5:06 PM

Very informative post. Keep posting. Good for students who want to go for a college degree.

July 31, 2009 at 4:26 PM

Very informative, well highlighted. Accessibility to both federal and private education loans to potential students is such a great financial uplift but with undoubted paybacks later. On student loan consolidation..

August 5, 2009 at 5:15 PM

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October 6, 2009 at 11:32 AM

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November 5, 2009 at 10:03 PM

great info...keep it up ..Student Loan

November 22, 2009 at 1:16 AM

Student loans are loans that are offered to students to assist in payment of the costs of professional education. The government of the country offers these loans and at a very low rate of interest. Student loans are a great help to students who plan to do further studies, in their own country or abroad, but lack the requisite funds to do that. In this way student loans not just assist the student but also his family. Many institutes and universities offer student loan. There are different types of student loans. So there are several options available for students to choose from. Broadly there are two types of loans available: Federal loans and Private Educational Loans.


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December 12, 2009 at 4:38 PM

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