Student loan consolidation rates are usually distributed through government or private lenders, but there are plenty of options available for a borrower who is looking to select the best provider, especially since you can search for a lender online and can compare interest rates. Overall, student loan consolidation rates in 2011 are very competitive and the government offers options that are very competitive with the private sector. Often, such a rate is fixed and offers students the chance to make one payment per month at a percentage which is averaged and calculated by the borrower’s total debt.

As soon as a person has graduated or is no longer a student enrolled full time, the grace period between six to nine months gives them a chance to obtain employment and prepare for making student loan payments.  Low student loan consolidation rates can help borrowers become a more responsible consumer. Rates might vary according to the borrower’s financial situation, but usually it is very easy to acquire an excellent repayment plan if your credit score (FICO) is at least 660.

Different lenders offer various monthly plans depending on the student’s loan situation and, in fact, some lenders can offer monthly plans that are as much as 50% lower than others. Consolidated student loan rates are typically lower than unconsolidated rates, and usually the rate will be fixed.  With unconsolidated loans, usually they are set at variable interest rates. This means they can change at any time and even sometimes there’s very little warning.  With a fixed loan interest rate, the monthly interest will remain the same during the entire student loan repayment duration.