Consumerism Commentary - Latest Comments in Time to Consolidate

Re: Time to Consolidate

Phillips — Sat, 15 Apr 2006 15:38:40 -0000

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.moneysavingfreet...

Re: Time to Consolidate

Flexo — Mon, 27 Jun 2005 16:50:30 -0000

Awesome, finally my school will gain some credibility! :>

Re: Time to Consolidate

jim — Mon, 27 Jun 2005 16:39:15 -0000

You're going to get the same degree as Shaq!

http://sportsillustrated.cnn.com/2005/basketball/nba/06/25/shaq.masters.ap/index.html?cnn=yes

Re: Time to Consolidate

Flexo — Tue, 21 Jun 2005 14:55:03 -0000

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.

Re: Time to Consolidate

matt — Tue, 21 Jun 2005 14:36:50 -0000

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.