Another consolidation noob

[rhino305]

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I've read through the stickies and still can't figure this out...


I called my financial aid advisor at med school and asked her if I can consolidate my loans yet. She told me that I could not and would have to wait until next year when I had "two" loans (this current year's and the next year's"

I thought I read on here that there were many M1s who already had consolidated before July 1, 2004. I will be an M1 this Aug'05 with an unsub and sub stafford loan from T.H.E. Loans. I guess my main question is, can I consolidate now? I would really like to lock in this low rate. Is there something that I am missing? Thanks for everyone's help.

 

[Deleted member 72527]

I've read through the stickies and still can't figure this out...


I called my financial aid advisor at med school and asked her if I can consolidate my loans yet. She told me that I could not and would have to wait until next year when I had "two" loans (this current year's and the next year's"

I thought I read on here that there were many M1s who already had consolidated before July 1, 2004. I will be an M1 this Aug'05 with an unsub and sub stafford loan from T.H.E. Loans. I guess my main question is, can I consolidate now? I would really like to lock in this low rate. Is there something that I am missing? Thanks for everyone's help.

Is it possible that they had undergrad loans? I don't know - just a shot in the dark.

 

[rhino305]

Probably now that you mention it, she said if I had undergrad loans that I could consolidate. So I'm guessing that at this point in time I cannot consolidate?

 

[mpp]

You can consolidate just one loan. At this point, you will consolidate under the new rate and this will lock the loan in at 4.70 percent. You don't need anything from your school financial aid office to consolidate your current loan(s) just go to any loan consolidation company or consolidate directly through the federal government.