Private College Student Loan

Do I want to consolidate my Federal Perkins loan with my Federal Direct Stafford Loans?

For those of you who are consolidating, you know that the Federal Stafford Loan interested rate as of July 1, 2006 will be 6.80% and the current interest rate for this loan type is 4.7% variable. I am wondering if I should consolidate my Federal Perkins loan even though the interest rate is 5.0% fixed. I am not interested in the Loan Forgiveness stuff that comes with the Perkins loan. I just want to know whether or not to consolidate the Perkins Loan for a lower interest rate on it. Or will I get a higher interest rate on it since only the Federal Direct Stafford/Ford Loans are experiencing an increase in the interest rate. Prompt responses very appreciated! I have until June 30, 2006 to consolidate!!!

Public Comments

1. I WON'T fixed means it' staying that way it's staying at 5.0%, if concolidating gets you a rate below 5.0% than do i, but on my app it said my rate would be above 5%.