I'm a 4th year medical student. I know that interest rates (when they are changed in June) will be higher than they are today. Thus, I would ideally like to consolidate my loans before the interest rates go up. I have heard that I can not consolidate my loans before graduation. Is that true? If I submit the application as soon as I graduate, can I consolidate my loans at the current (low) interest rate, and then apply to an economic hardship defferement? Thanks for the help.