What are the current Federal interest rates?
The rate will be a fixed rate equal to a weighted average of the interest rates on your existing student loans, and are then rounded up to the nearest one-eighth of one percent. Currently, rates are set to the following starting points: • FFELP Stafford Loans originated before 7/1/2006: Variable (check your loan information for the current rate) • FFELP Stafford Loans originated on or after 7/1/2006: 6.8% Fixed • FFELP PLUS Loans originated before 7/1/2006: Variable (check your loan information for the current rate) • FFELP PLUS Loans originated on or after 7/1/2006: 8.5% Fixed • Federal Perkins Loans: 5.00% Fixed • Previous Federal consolidation loans: Based off of the rate the consolidation was fixed at (check your loan information for the exact rate) Use our Loan Calculator to help you figure out your new rate and monthly payment.
The rate will be a fixed rate equal to a weighted average of the interest rates on your existing student loans, and are then rounded up to the nearest one-eighth of one percent. Currently, rates are set to the following starting points: • Federal Stafford Loans in school or grace period: 6.54% Variable • Federal Stafford Loans in repayment: 7.14% Variable • Federal Stafford Loans in repayment prior to 7/1/98 & newer that 10/1/92: 7.94% variable • Federal Parent PLUS Loans newer that 7/1/98: 7.94% Variable • Federal Perkins Loans: 5.00% Fixed • Previous consolidations: Whatever your current consolidation rate is. These rates are starting points and do not represent the actual consolidation rate, lower rates you would receive with any applicable discounts. Consolidations done during the loan “grace” period will be based on a weighted average of the in-school interest rates, which are generally lower. Use our Loan Calculator to help you figure out your new rate and monthly payment.
