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Fixed rate student loans are can be attained by consolidating several student loans into one master loan program. By consolidating your educational loans, you will get to repay all bucks you have borrowed with one flat interest rate to 1 lender. Provide you . indeed easy since you certainly to brows through the trouble of repaying the loans individually to various lenders. Yet the fixed charge given through the consolidation may backfire since you can get a slightly higher interest rate. This is because the average rate of the consolidated loans is rounded up to the closest 1/8 associated with percent (0.125, 0.25, .375, 0.5, and so forth). The lowest interest rate of a consolidation loan is several.70%, while the highest rate would be 8.25% for Stafford loans and 9% for PLUS loans.
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