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- Nov 7, 2004
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As everyone knows, interest rates are going up on July 1, and it would be quite advantageous to consolidate and lock in the rates before they jump. I have a couple of questions and ideas regarding this
1) If Icannot consolidate while you are still a full time student and in defferment, if I graduate on June 1, will I be able to consolidate my loans in time before the rates go up? How long does it take to complete the application process.
2) Assuming that I would not have enough time what about the following:
Right now my loans are in deferment since I am a full time student. However, my loans are scheduled to go into the grace period in the next month, even though I am still a full time student, since I didn't resubmit the paperwork for the deferment for this year yet. As soon as they go into grace, can I consolidate even though I really am a full time student, since they dont know I am? This way I will be able to consolidate in time before the new interest rates.
Any answes or comments are greatly appreciated.
1) If Icannot consolidate while you are still a full time student and in defferment, if I graduate on June 1, will I be able to consolidate my loans in time before the rates go up? How long does it take to complete the application process.
2) Assuming that I would not have enough time what about the following:
Right now my loans are in deferment since I am a full time student. However, my loans are scheduled to go into the grace period in the next month, even though I am still a full time student, since I didn't resubmit the paperwork for the deferment for this year yet. As soon as they go into grace, can I consolidate even though I really am a full time student, since they dont know I am? This way I will be able to consolidate in time before the new interest rates.
Any answes or comments are greatly appreciated.