Loan Consolidation

[Lefty]

I am an MS4 currently. At this point in my education I have taken out my last student loan. However, I am about to start residency for 4 yrs during which time I most likely will not be paying back any money (I will defer my loans) like most residents. Does anyone know if I can consolidate my loans right now since I won't be taking any more out? Or do I have to actually be paying back my loans to be able to consolidate?

My loans are through Sallie May. Does anyone know where I could go for more info about consolidating my loans?

Thanks,

Lefty

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[mpp]

If all your loans are with Sallie Mae then you are required to consolidate with Sallie Mae www.salliemae.com . Your loans must be in repayment or in their grace period to consolidate them. I do not think you can consolidate your loans until after you graduate.

 

[Lefty]

Thanks for the guidance. Sallie Mae's site is actually pretty useful. Now I can log on anytime I want from anywhere and just stare at how many thousands of dollars I am in debt!!!

 

[GeneGoddess]

You CAN consolidate your loans while still in school, but it must be done through the US Gov't (DIrect Loans). Not sure about the other thing (Sallie Mae only loans).

 

[mpp]

Yes, you are absolutely correct. You can consolidate while in school only if you have a Direct Loan. If you have even one Direct Loan (certain institutions are Direct Lending institutions where you don't go to a lender to get your money) you can consolidate while in school provided you include at least one Direct Loan in the consolidation.