Among mythology regarding student loan combination will it be efficiency in the a diminished interest
Among mythology regarding student loan combination will it be efficiency in the a diminished interest Then you definitely do the adjusted average interest - cuatro.24% - and round it into nearby you to definitely-8th of 1%, which provides the to 4.25%. But as you can see throughout the math, that isn't the situation. The fresh new price is leaner versus you to into the old higher-speed mortgage and better as compared to you to definitely toward old lower-rates loan. The concept should be to hold the overall rate of interest with the the new direct combination financing just like just what you might possess paid back on the full of all of the old finance. Merging Government Student education loans So you're able to combine the figuratively speaking, begin by…