DISQUS

Consumerism Commentary: Time to Consolidate

  • matt · 4 years ago
    I am beginning graduate school in the fall, so I will be able to defer my loans then. As far as I can tell, if I consolidate now I won't be able to start a new deferment. I only have about $7k in loans, so the advantage of being able to defer seems to outweigh the higher interest I will pay in two years, especially since I will likely be able to deduct all of the interest I pay on the loan anyway.

    Unless of course I am misunderstanding something, which is highly likely.
  • Flexo · 4 years ago
    Matt,

    I believe the only reason I am able to defer my consolidated loan is because they are all loans for graduate school. If they were undergrad loans I wouldn't be able to defer them after consolidation.

    This is how it was explained to me by Brad from the College Loan Corporation. I would have gone ahead and consolidated either way; I'm working full time and I could payy of the loans pretty easily, since most of it is reimbursed by my employer.
  • jim · 4 years ago
  • Flexo · 4 years ago
    Awesome, finally my school will gain some credibility! :>
  • Phillips · 3 years ago
    be careful coz they are increasing the interest rates

    "From July 2006, interest rates on federal student loans will be fixed in at 6.8% as a result of the legislation that was passed by Congress in February. "
    Source: http://www.moneysavingfreetips.com/student-loan...