consolidation and payment during residency

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moviefreak

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To those of you who are consolidating, do you start loan repaymeny while in residency? What is the max time you can defer paying once you're out of medschool?
Thanks.

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Some consolidation companies let you keep your grace period if you tell them to hold off on processing your loan until grace is almost over (but you need to apply now in order to lock in the low rates). After grace is over, it's up to you whether you want to start paying right away or not. You may be eligible for economic hardship deferment, depending on how much you owe and how much you will be making. With deferment, your subsidized loans remain subsidized. You have to reapply for it every year, and can defer up to three years. If you don't qualify for deferment, you can go into forbearance. With forbearance, your subsidized loans become unsubsidized, and start accumulating interest. Also, some companies charge higher interest in forbearance than deferment. You can be in forbearance as long as you are in residency. With grace, deferment, and forbearance, you have the option of paying off interest, so as to prevent capitalizatons of the interest.
 
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