Federal Consolidation interest rates are based on the weighted average of student loan interest rates. Federal Stafford loans disbursed between July 1, 2006 and June 30, 2008 have an interest rate of 6.8%*. Stafford loans disbursed after July 1, 2008 have a rate of 6.0%.
However, Federal student loans disbursed before July 1, 2006 will remain variable interest rate loans unless consolidated. These loans will re-adjust every July 1 based on the results of the 91-day Treasury Bill. The rates listed below go into effect on July 1, 2008 for variable rate loans:
3.60% - Stafford loans in grace (down from 6.62%)
4.21% - Stafford loans in repayment (down from 7.22%)
5.01% - Parent PLUS loans (down from 8.02%)
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