Dismiss Notice
Hey Texans—join us for a DFW meetup! Click here to learn more.

Question regarding deferrment.

Discussion in 'Pharmacy' started by Sulilina, Dec 23, 2008.

  1. Sulilina

    Sulilina Nova CoP c/o 2013
    7+ Year Member

    Joined:
    Mar 29, 2007
    Messages:
    77
    Likes Received:
    0
    Status:
    Pharmacy Student
    Forgive my ignorance, but as I am mentally preparing myself for P1 and the intimidating amount of debt that I will be taking on, I'm only left to wonder if it is possible to have my loans deferred (private and federal) when I start a residency. I'm expecting to walk out with ~160-170k in the hole, with a payment ~2k/month. Do they provide deferments for residency students? If so, what should I do about consolidating -- should I consolidate before or after my residency? Or will they even let you consolidate while you're in deferment?

    Speaking of consolidation, I spoke with my lender about the current outstanding loans I have now, and they informed me that as of right now, they are not consolidating anything for anyone and a lot of lenders are doing the same due to the economic situation. Is this true? Are some of you having issues consolidating?

    Thanks
    Crystal
     
  2. Note: SDN Members do not see this ad.

  3. Aznfarmerboi

    Aznfarmerboi Senior Member
    10+ Year Member

    Joined:
    May 18, 2005
    Messages:
    2,099
    Likes Received:
    166
    Status:
    Pharmacist
    Talk to your financial aid counselor.

    They provide deferments for residency students. Concerning consolidating, you should first think about the benefits of consolidating versus not consolidating. If you do choose to consolidate, the best time to consolidate is when rates are the lowest. That depends on the economy. No, usually they do not let you defer when you consolidate.

    Chances are good you will get a consolidation when you come out of pharmacy school.
     
  4. LoKoTe

    10+ Year Member

    Joined:
    Apr 5, 2007
    Messages:
    363
    Likes Received:
    7
    Status:
    Pharmacist
    And I believe you can consolidate your federal loans, but not your private loans. If I'm wrong please someone correct me.
     

Share This Page