The interest rates for federal student loan consolidations are based on the weighted average of student loan interest rates. All Federal Stafford loans disbursed between July 1, 2006 and June 30, 2008 have an interest rate of 6.8%*. Subsidized Stafford loans disbursed between July 1, 2008 and July 1, 2009 have a rate of 6.0%, and Subsidized Stafford loans disbursed after July 1, 2009 have a rate of 5.6%. Currently, Unsubsidized Stafford loans remain at 6.8%.
Federal student loans will have different rates depending on type and disbursement dates. For example, rates for Stafford loan disbursed before July 1, 2006 will remain variable until consolidated.
* Currently, the interest rates for Federal loans disbursed before July 1, 2006 are at an all time low:
Stafford Loan (in school/grace period): 1.88%
Stafford Loan (in repayment): 2.48%
Federal PLUS loan: 3.28%
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