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Student Loan Consolidation Interest Rates
ALC offers the guaranteed lowest interest rate
allowed by the federal government.
The Academic Lending Center offers the guaranteed lowest interest rates allowed by the federal government, and some of the most competitive borrower benefits available!
The interest rate for Federal Student Loan Consolidation and Direct Consolidation Loans is set according to a formula established by federal statute. The fixed interest rate for federal student loan consolidation equals the weighted average of the interest rates of the loans being consolidated, rounded up to the nearest 1/8th of one percent and capped at 8.25%.
The benefit of consolidating student loans is that you can LOCK IN a fixed interest rate for the life of your Federal Loan, which protects you from future increases in variable rate loans. In addition, you can reduce your interest rate an additional .25% when you follow repayment guidelines. (Please View borrower Benefits)
The interest rate you would receive does depend on which federal student loans are being consolidated. To determine an estimate of your student loan consolidation interest rate, use our Student Loan Consolidation Repayment Calculator, or contact us directly at 1-800-798-0779 24 hours a day.
Consolidating your student loans is as easy as 1-2-3! The Academic Lending Center is available to handle all of your student loan consolidation needs around the clock. Fill out our Online Student Loan Consolidation Application or call us at 1-800-798-0779.
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