Student Loan Consolidation Calculator from the U.S. Department of Education

Calculates a Borrower's Rate After Student Loan Consolidation

The Department of Education provides an easy-to-use student loan consolidation calculator that will help parents and students determine what their student loan interest rate will be after consolidating multiple loans.

The student loan calculator itself is quite simple to use. Here's what you need to know to perform a correct analyis of your student loan consolidation options:

• Each student loan's type (Stafford, PLUS, Perkins, etc.)
• Each student loan's current balance
• Each student loan's interest rate

The calculator includes a handy dropdown menu that lets you select from the over 20 different types of student loans the U.S. government helps families to consolidate.

The calculator also contains a place for borrowers to enter their gross income and their household status in the event they also want to calculate the benefits of using the Income Congtingent Repayment plan.

To give the calculator a try, visit the official D.O.E. Student Loan Consolidation website.