Best answer from question by tc:
Answer by BTH L
15%
Best answer from question by Cosmetic Counter:
Answer by Sallie Mae
The federal consolidation loan has a fixed interest rate, based on the weighted average of the interest rates of the student loans being consolidated, excluding Health Education Assistance Loans (HEALs), rounded up to the nearest 0.125% or 8.25%, whichever is less.
The weighted-average interest rate calculation is based on the official interest rates for the student loans being consolidated, exclusive of any borrower benefit or other special rate discounts.
By law, all lenders are required to use the same interest rate formula for federal consolidation loans. Instead, you should consider customer service, flexible repayment options, online account access and applications, reputation and industry experience when selecting a lender.
Best answer from question by tidefan2k4:
Answer by Katey
Depends on the lender. Check the website of the one you are looking at. It will tell you (check the FAQ’s if you can’t find it elsewhere on the site).