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The drop in interest rates has made considering student loan consolidation interest rates more attractive. Students may be paying larger monthly payments on loans and need to lower the payments. Or, they may have several separate loans that are paid to different lenders each month with varying interest rates. With almost eight percent of students carrying an average $10,000 loan, there can be many reasons to want to consolidate. When one has federal education loans student loan consolidation interest rates are very straightforward. The method for setting the interest rate on these loans is established and the regulations are very strict. However, the rates vary greatly on private education loans and are calculated with many factors included. When one is consolidating student loans they will want to consolidate their federal education loans separately from their private education loans to take advantage of the benefits available

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Overview Of Student Loan Consolidation Interest Rates