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Consolidating student loans information

In the United States, federal student loans are consolidated somewhat differently from in the UK, as federal student loans are guaranteed by the U. Upon consolidation, a fixed interest rate is set based on the then-current interest rate. If the student combines loans of different types and rates into one new consolidation loan, a weighted average calculation will establish the appropriate rate based on the then-current interest rates of the different loans being consolidated together.Federal student loan consolidation is often referred to as refinancing, which is incorrect because the loan rates are not changed, merely locked in.

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These loans, often unsecured, are based on the personal relationship rather than collateral. In a federal student loan consolidation, existing loans are purchased by the Department of Education.




In the UK student loan entitlements are guaranteed, and are recovered using a means-tested system from the student's future income.

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