over 100k in UG debt, should I consolidate? (2 private lenders)

[Pigglyjuff]

I have about 50k with Discover Student Loans
about 24k with a credit union. And the rest is with the government. Because it's Freshman, Sophomore and Junior year private loans, is now the time to consolidate and then defer when I get into medical school?

I'm in an SMP now I paid for, applying this round, so should get in somewhere soon.

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[DrMidlife]

Never do a private consolidation of a federal loan. Doing so removes all the protections you get with federal student loans (guaranteed forbearance during residency, IBR/ICR, and whatever else comes along).

Consolidating your private loans can kill the possibility of getting an in-school deferment. If you're not up to study the fine print, don't do it.

If you're looking at consolidating to save on interest, but the consolidated rate is variable, you're gambling.

Best of luck to you.

 

[Pigglyjuff]

Never do a private consolidation of a federal loan. Doing so removes all the protections you get with federal student loans (guaranteed forbearance during residency, IBR/ICR, and whatever else comes along).

Consolidating your private loans can kill the possibility of getting an in-school deferment. If you're not up to study the fine print, don't do it.

If you're looking at consolidating to save on interest, but the consolidated rate is variable, you're gambling.

Best of luck to you.

Interesting. I have the coveted texas residency, so staying instate (assuming a school here takes me) is very appealing, despite longing to go out of state somewhere else.