Student loan consolidation interest rates are subject to various changes. It is possible for a loan to incur two different interest rates in the loan term, in that one rate is calculated during the students time in school and the other kicks in once the student graduates.
Consolidation loans have longer terms than other loans.
Students can choose terms of 10-30 years. Even if the monthly payments are lower, the sum amount paid over the loan term is higher comp aired to other loans.
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