US Department of Education on District College Consolidation

The US Department of Education adjust interest rates yearly on July 1st, so you will find Democrats advertising their proposals for loan law amendments around this date. They often urge borrowers to consolidate their outstanding loans as a way to reduce their student loan debt. You should be aware that loan interest rates tend to rise each year, sometimes by a hundredth of a percentage point but usually a bit more. Democrats are quite right when they say you can save thousands; half of a percentage point difference on a consolidated loan can save you over $3,000.