NY.gov Portal State Agency Listing
NYS Higher Education Services Corporation - We Help People Pay for College High School Counselors Financial Aid Professionals

HESC Disclaimer Regarding the
Use of 'GoogleTM Translate'

Free Language Assistance

Loan Consolidation - Interest Rate Determination

The fixed interest rate is calculated by taking the weighted average of the interest rates on the non-HEAL loans being consolidated, rounded up to the nearest one-eighth of one percent, capped at 8.25 percent.

If HEAL loans are included in the consolidation, the variable interest rate on the portion attributable to the HEAL loans is determined by taking the average of the bond equivalent rates of the 91-day Treasury bills auctioned for the quarter ending June 30, plus 3 percent.

To determine your interest rate and repayment schedule use the Consolidation Loan Repayment Estimator.