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Student Loans Consolidation?

From what I understand, loans consolidation means to stabilize the interest rate from going up right? What if the government cut the interest rate? I mean when I consolidated my student loans last year it was 6.25%, now I just heard that the government cut down the rate to nearly half. So do I have to pay back my loans with 6.25% interest rate due to the consolidation or the new low rate? Thanks

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One Response to "Student Loans Consolidation?"

  1. Josie826 says:
    You pay back the loan at the APR that you took the loan out in. So if it was 6.25, you pay it back at 6.25.

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