- Joined
- Sep 23, 2006
- Messages
- 129
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All my loans are the Federal direct Sub or Unsubsidized. And since I got them recently, all have a 6.8% rate. I still got an email from DLS the other day pointing out that I can soon consolidate, sign up for Automatic Debit, etc...
They mentioned the 0.25% interest cut for using automatic withdrawal which I'm down with, but they also state that I can consolidate during my Grace period. They say the interest rate during Grace is actually 5/8th of a point (~0.6%) less than once you enter repayment. So does that mean during Grace the rate is 6.8, and it hops up to ~7.4 after X days... or are my unsub. loans now accruing at ~6.2, and in repayment would jump to 6.8?
I checked on "entrance counseling" and couldn't find an answer... I know 5/8 isn't a huge difference, but every bit helps =)
I'm not sure if they sent me the email in error, or if they send it to all students with Direct Loans... would they even let me "consolidate" 3 loans which all have Exactly the same rate, from the same lender? The weighted average would obviously be 6.8!
I hate loans
They mentioned the 0.25% interest cut for using automatic withdrawal which I'm down with, but they also state that I can consolidate during my Grace period. They say the interest rate during Grace is actually 5/8th of a point (~0.6%) less than once you enter repayment. So does that mean during Grace the rate is 6.8, and it hops up to ~7.4 after X days... or are my unsub. loans now accruing at ~6.2, and in repayment would jump to 6.8?
I checked on "entrance counseling" and couldn't find an answer... I know 5/8 isn't a huge difference, but every bit helps =)
I'm not sure if they sent me the email in error, or if they send it to all students with Direct Loans... would they even let me "consolidate" 3 loans which all have Exactly the same rate, from the same lender? The weighted average would obviously be 6.8!
I hate loans