If you’re a parent or ex-student who took out any Federal PLUS Loans or Stafford Loans prior 1, 2006, those student loans are subject to variable interest rates that will adjust every year.
Federal student loan consolidation gives you the security of a fixed interest rate. By consolidating your federal parent student loans, you’ll replace your variable-rate college loans with a fixed-rate consolidation loan, so you’ll never have to worry about interest rates rising and leaving you guessing about your monthly payment amount.
