In fact, private student loans can mean total repayments of $ 1,500 per month, consolidating the debt can reduce the monthly payments by half. (badcreditloanservices.com)
The monthly payments will be higher but the interest rate and total repayment amount will be smaller. (simplethriftyliving.com)
The practice of holding total repayments (i.e. interest plus principal) steady while interest rates fell in 1996 and 1997 appears to have been widespread. (rba.gov.au)