If you consolidate student loans right now, you could save hundreds of dollars a month. Here's a quick chart showing how much you could save on your monthly payments:
| Total Loans | Current Payment | After Consolidation | Monthly Savings |
|---|---|---|---|
| $30,000.00 | $342.48 | $227.22 | $115.26! |
| $40,000.00 | $456.64 | $275.10 | $181.53! |
| $50,000.00 | $570.80 | $343.88 | $226.92! |
| $75,000.00 | $856.20 | $483.96 | $372.24! |
| $100,000.00 | $1,141.59 | $645.28 | $496.32! |
Savings shown are based on the current Stafford Loan interest rate of 6.8%; borrowers in grace periods, with student loans other than Stafford (i.e. PLUS or Perkins loans), or with Stafford Loans older than July 1, 1998, will have different interest rates.
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