Consolidate Loans Now

[mward04]

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If you are graduating this year, I highly recommend you consolidate your med school loans now considering the rate is the lowest it will ever be (2.875%) and is scheduled to jump at least 2% next year. Additionally, you can apply for an economic hardship so you still won't have to start paying back until after residency.

For those of you still in school, this is now an option as well. I've found the following web site to be helpful. Let me know if you have any questions:
http://www.graduateleverage.com/

Mike

 

[CanuckRazorback]

If you are graduating this year, I highly recommend you consolidate your med school loans now considering the rate is the lowest it will ever be (2.875%) and is scheduled to jump at least 2% next year. Additionally, you can apply for an economic hardship so you still won't have to start paying back until after residency.

For those of you still in school, this is now an option as well. I've found the following web site to be helpful. Let me know if you have any questions:
http://www.graduateleverage.com/

Mike

I have a question... A probably very stupid one, but anyway. I only have one student loan ($8500 stafford sub loan). I'm graduating this semester, but am heading to med school in the fall. Can I lock in the 2.875% rate? I don't have to consolidate since I only have one loan. Sorry, last year was the first year I was eligible for US financial aid so I am new to this process. Any help would be greatly appreciated!

 

[mward04]

I have a question... A probably very stupid one, but anyway. I only have one student loan ($8500 stafford sub loan). I'm graduating this semester, but am heading to med school in the fall. Can I lock in the 2.875% rate? I don't have to consolidate since I only have one loan. Sorry, last year was the first year I was eligible for US financial aid so I am new to this process. Any help would be greatly appreciated!

I'm more familiar with the med school process but I think the same rules apply. Since you only have 8500, it's not that big of a deal. I would check with your lender to find out what would happen if you consolidate and what happens if you add additionaly loans and consolidate later on. Ultimately, this will not be that big of a deal for you.

 

[CanuckRazorback]

I'm more familiar with the med school process but I think the same rules apply. Since you only have 8500, it's not that big of a deal. I would check with your lender to find out what would happen if you consolidate and what happens if you add additionaly loans and consolidate later on. Ultimately, this will not be that big of a deal for you.

Thanks for the reply. It's true that 8500 isn't that much, I didn't really think about that.

 

[no exit]

Razorback: If you only have one loan, you are subject to the 'single lender rule' and may not be able to consolidate with any lender other than the lender that provided you with that loan. nevertheless, you should consolidate.