When you think the student loan consolidation rates, you have to take into account two things: your present loan terms` consolidation rate and the future rates after your student loan possible refinancing.
The student loans consolidation means, that a student can combine his many student loans into one loan. This can be done for both the federal and private student loans, but the consolidation must be done separately for both groups, you cannot mix them.
Student Loan Consolidation Interest Rates
To get an idea about your present loans`student loan consolidation rates you can first calculate the weighted average of the interest rates of the debts you want to consolidate into one debt.
Then multiply each student loan debt by it`s student loan rate, add the totals together and divide the sum by the student loans` debt amount. Round the number to the nearest 1/8 of a percent and you got the estimated student loan consolidation rate.
When you will consolidate the federal student loans, you will get the fixed interest rate for the whole life of the repayment.
This gave you a picture about the consolidation benefits ( savings ) of your present debts, but if you have to save more, you must ask for the refinancing of the loans. This means the extended loan repayment time and the lower interest rate.