in-school consolidation---direct loans?

[clevisR6]

if you consolidate in school with direct loans, do they automatically take your graduation date into account and give you your grace period? or do you have to submit a deferment?

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[clevisR6]

oh yes, does anyone know if its possible to do an in school consolidation with DL now, then upon graduation do a consolidation with one of the companies that offers the 1.25% discounts? (1%for 36 months, .25% for electronic debit)

 

[GeneGoddess]

oh yes, does anyone know if its possible to do an in school consolidation with DL now, then upon graduation do a consolidation with one of the companies that offers the 1.25% discounts? (1%for 36 months, .25% for electronic debit)

It is. My spouse consolidated with DL (in school) in July 2004 and will re-consolidate with GL/AES this month (he just graduated).

 

[clevisR6]

It is. My spouse consolidated with DL (in school) in July 2004 and will re-consolidate with GL/AES this month (he just graduated).

interesting, please post the results of the consolidation; what discounts he got, if they gave any grief etc. Thanks

 

[GeneGoddess]

He has gotten no grief. DL sucks and their "perks" are pathetic. GL/AES has been receptive and informative. Their perks are .25% with auto-pay and 1% after 20 on-time payments. And, hopefully, he will be able to have an economic hardship deferement.

 

[clevisR6]

do you know if GL will do the in school consolidation as well? that way i can bypass the DL thing and the GL perks are superb.

I also read somewhere (in the faq i think)that they will get you to keep your grace period and will get your perkins rates reduced to stafford rates.