Consolidating stafford subsidized loans

Notice how the weighted average is between the highest and lowest interest rates among the consolidated loans.

The use of the weighted average preserves the cost of the loans.

It is possible to receive both types of loans, and many students receive both.

This makes the Stafford Loans the most widely distributed student loan.

How to Get a Consolidation Loan Apply for a Federal Direct Consolidation Loan through Student

Thus, borrowers can consolidate only during the grace and repayment periods, but not during the in-school period.Interest Rates and Fees The interest rate on a Federal Consolidation Loan is a fixed rate based on the weighted average of interest rates on the loans, rounded up to the nearest eighth of a point (multiple of 0.125%).The interest rate on new consolidation loans has not been capped since July 1, 2013.Married borrowers cannot consolidate their loans together for similar reasons.Congress previously allowed joint consolidations, but repealed it effective July 1, 2006 because of the problems that arose when married borrowers divorced and the joint consolidation could not be undone.

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