Answered by Sallie Mae
If you are consolidating federal student loans, the interest rate is set by the government, so all consolidators will offer you the same rate. They differentiate themselves by what they call "borrower benefits", which can include things like a percentage reduction if you pay a certain number of months of time, or if you use direct deposit. It's important to stick with a company that's been around a while and will be around to service your loan. Lots of these companies just get you to fill out an application and then they "flip" it by selling it to another company. Sallie Mae is the largest and oldest consolidator. They have a lot of info on the site, including an FAQ and a calculator so you can see what your payments will be. www.salliemae.com/after_graduation/manage_your_loans/consolidate_student_loans/student_loan_consolidation.htm Good luck!