According to the Fast Web site, Obama's new stimulus plan for college attendees who are using Federal Loans (Stafford Subsidized and Unsubsidized, etc) to attend college would allow the student to consolidate the loans at 2.0% to 3.8% depending on the type of loan. However, this is not completely true. As long as the student is still in college, the loans can't be consolidated at the lower interest rate. The loans can only be consolidated based on a median percentage of the loans present interest rate. So, for example, I have 3 loans. One at 6.9 and 2 at 7.9 interest. The loan can only be consolidated based on the lowest interest rate. If I consolidated these loans, they would be at a fixed rate of 7%. Not really worth going through the hassle. So, Obama's plan doesn't help me at all.