Deferment

[rohsik]

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I just found out that if you defer during grace...you can take advantage of the in grace interest rate of 2.82% allowing you to wait with regards to consolidation and see what interest rates will do in July 2004. If they go up, you will have enough time to consolidate.

I don't believe that it will go up, but that what's everyone was saying about interest rate prior to this past July 2003. So, you never know....

Just thought I will share.

 

[Seaglass]

It is my understanding that even if you get the 2.82% interest rate during deferment if you miss the rate change for consolidation you will not get the 2.82% interest rate because consolidation is a new loan - not a change in your old loans, so the rate you have when you consolidate doesn't mean anything. The only rate that counts is the current rate.

Casey

 

[rohsik]

Hey Casey,

I did not understand what you were trying to say?