Beginning July 1, 2009, Federal Education Loan interest rates will drop. What does this mean? If you have a variable interest rate on your federal student loans, you can consolidate them after July 1st at a lower rate! Believe me, if you have federal student loans, you will want to look into this. These are the lowest rates in the history of the federal student loan program. New interest rates:

• Stafford Loan Consolidation (In-School/Grace Period): 2.00%
• Stafford Loan Consolidation (Repayment Period): 2.50%
• PLUS Loan Consolidation: 3.38%

Make sure to read this article if you have student loans and want to save a lot of money with a lower interest rate.

Unfortunately, this doesn’t apply to me as my loans were originated after July 1, 2006, but hopefully, this is helpful for some of you! Please comment below to let me know if this was helpful to you and you were able to lock in a lower rate and save money!