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I'm graduating on May 20th and have about half of my loans with a due date on 06/21/2015. The other half of my loans are due 12/2015. I'll be consolidating my loans into a direct loan and signing up for IBR. I don't currently qualify for PAYE because of loans prior to 2007, but will sign up for it in 12/2015 if Obama's executive order holds.
My questions are:
-When exactly do I consolidate my loans into a direct loan? After I graduate May 20th? Before I graduate? Right now?
-When do I sign up for IBR? Now? Or after I graduate? How long does the process of IBR take? If it takes months and my first payments are due 06/21/2105 how does that work?
-If I consolidate does that mean I have to pay immediately on my loans?
If anyone's been through this and can help out that'd be greatly appreciated. Thanks!
My questions are:
-When exactly do I consolidate my loans into a direct loan? After I graduate May 20th? Before I graduate? Right now?
-When do I sign up for IBR? Now? Or after I graduate? How long does the process of IBR take? If it takes months and my first payments are due 06/21/2105 how does that work?
-If I consolidate does that mean I have to pay immediately on my loans?
If anyone's been through this and can help out that'd be greatly appreciated. Thanks!