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Student Loan Consolidation
Loan consolidation gives borrowers the opportunity to combine and refinance their student loans, extend repayment terms, reduce monthly payments, and guarantee a fixed interest rate. There are many factors to consider before consolidating, and only you can decide whether consolidating at this time is right for you. We encourage our continuing students -- and also recent NYU graduates -- to learn more via the links below and by contacting your lender.

INTEREST RATE

The interest rate on consolidation loans is the weighted average of the interest rates on the loans being consolidated, rounded up to the nearest 1/8 of a percent and capped at 8.25%.

Current fixed interest rates on Stafford and PLUS Loans are effective for loans issued beginning July 1, 2008.

TYPE OF LOAN FIXED RATE
Stafford in-school or grace period 6.0%
Stafford in repayment 6.0%
PLUS 8.50%

GETTING STARTED

To inquire about consolidation, borrowers should contact the servicer for each of their student loans. Borrowers may identify their servicer by telephoning the U.S. Department of Education at 1-800-433-3243, or they may research their loans at the National Student Loan Data System.

Learn more about loan consolidation:

>   FinAid.org
>   New York State Higher Education Services Corporation (HESC)
>   U.S. Department of Education