Interest rate question ???

[UtahDDS]

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Can those of us who are starting dental school this year lock our interest rates in at 4.8% before July first instead of jumping to 6.8% after July 1st? I would like to lock my first year interest rates at the lower interest rate but I don't know if this is possible. Does anyone know how we can do this? thanks

 

[Typo]

Can those of us who are starting dental school this year lock our interest rates in at 4.8% before July first instead of jumping to 6.8% after July 1st? I would like to lock my first year interest rates at the lower interest rate but I don't know if this is possible. Does anyone know how we can do this? thanks

For undergrad loans, yes. For loans for dental school next year, no - they'll be fixed at 6.8%. You can only consolidate on loans that have already been disbursed.

 

[UtahDDS]

How do I go about locking in at the lower rate on undergrad loans? Is that something to be done through the school. Will the payments still be deferred through dental school?

 

[crazy_sherm]

How do I go about locking in at the lower rate on undergrad loans? Is that something to be done through the school. Will the payments still be deferred through dental school?

You only have about a day and a half left, so the best place to check would be with your current lender since it's unlikley you'll be able to get the paperwork all done in time before the deadline if you go with a different agency. Consolidated loans are eligible for in school deferrement.

 

[CorneliusFudge]

Can those of us who are starting dental school this year lock our interest rates in at 4.8% before July first instead of jumping to 6.8% after July 1st? I would like to lock my first year interest rates at the lower interest rate but I don't know if this is possible. Does anyone know how we can do this? thanks

You are out of luck becauseyourloans won't be disbursed before July 1. You are just going to have to wait and get whatever deals come along for you.

For those of you in dental school right now you need to drop everything and get moving on your consolidation now. I just reconsolidated my first three years of loans at 2.8% and after 24 timely payments it will go down to 1.8%. 😱 If I had know it was going to be that cheap I would have taken out more and bought a boat.

Why are you still sitting there reading this? Get moving. You are cheating yourself out of thousands of dollars if you don't do this now.

 

[cbennett]

You are out of luck becauseyourloans won't be disbursed before July 1. You are just going to have to wait and get whatever deals come along for you.

For those of you in dental school right now you need to drop everything and get moving on your consolidation now. I just reconsolidated my first three years of loans at 2.8% and after 24 timely payments it will go down to 1.8%. 😱 If I had know it was going to be that cheap I would have taken out more and bought a boat.

Why are you still sitting there reading this? Get moving. You are cheating yourself out of thousands of dollars if you don't do this now.

You can't be serious, I'm an ug senior and my loans are somwere in the mid fours and i was told that i got a faily good rate. Where the heck did you find 2.8 or 1.8. Are you just ****ing with us or is this for real. And you mentioned that after 24 timely payments it goes down. Your talking about once you graduate and start paying not about paying the interest off so it doesent accumulate while in school correct?. Anyway if this isnt some kind of joke i would love to know how you got that rate.

 

[CorneliusFudge]

Its for real. This group negotiated a deal with lenders to honor last years rates. I don't know how they managed it, I'm just glad I got in on it. I think the website is www.graduateleverage.com. If not that then it is gradleverage.com. I did lose my grace period on the deal, but my payback is graduated so I pay ~$150/month for the first 2 years, $230 for years 3 and 4 and then $300 something for the remainder. Very manageable.

They also made the lenders sign a contract saying they cannot change the terms at any time during the life of the loan and it cannot be sold to another lender. G