Steve Blank
Guest
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| Posted: Tue Jan 13, 2004 5:21 am
Post subject: Re: Question regarding Consolidation of student loans |
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Kelly wrote:
| Quote: | I am planning on consolidating my student loans. Should I wait until
July 2004 - will the interest rates be lower? Or should I just go
ahead and do it now?
Also, I have been in repayment status for the last 2 years and have
made all payments timely. I am planning on going back to school half
time. Will this affect my ability to consolidate?
Some of the customer reps have told me no it shouldn't affect ability
to consolidate others have said yes.
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Since you are already in repayment, you may want to wait and see if
rates go down July 1. If you consolidate now, the rate will be slightly
higher (1/8 of a point)than you are now paying.
But you must have consolidation completed *before* July 1 if the rates
go up. The new rates will be available the end of May, so if rates go up
you'll want to start the consolidation process immediately in early June.
My understanding is that your return to school at only half time should
not affect your ability to consolidate unless you have some kind of
unusual circumstances.
--
Steven B. Blank
College Financial Aid Consultants
29 Ives Hill Court
Cheshire, CT 06410
(203)250-7761 |
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