All this rebate is offered on Stafford loans and plus loans. The most common discounts offered on student loan consolidation are:
1. 0.25% reduction in rate if your EMI gets debited from your account directly.
2. 1% waiver in default fee depending upon the guarantor for the loan.
3. Additional rebate on making timely payments.
4. 2% reduction in rate after completion of 48 months