How To Consolidate Student Loans – Federal Versus Private Loan Consolidation Posted By : calamary2
There are important differences between federal and private student loan consolidation. For example, with federal student loan consolidation, you will have a fixed interest rate, while private student loan consolidations are credit-based, which means that your consolidation loan rate will not be locked – it will be variable. The interest rates for federal loans are set according to a formula established by federal statue. It’s a fixed rate, based on the weighted average of the interest rate