consolidate student loans, private loan consolidation I am just about done with taking classes for my bachelor’s degree. I have already enrolled in my final classes and in doing so was sent my bill for the federal student loans I received over the 4 years. I was told by my mom to call and ask about private loan consolidation. During that call, I picked up some information I did not know before. So hopefully what I found out will save you time when researching private loan consolidation.

First off, don’t waste your time trying to consolidate until after the six month grace period ends. The lenders will alert you when this date is coming up. If you choose to consolidate student loans do so after the grace period because doing it beforehand will cancel the grace period and payments will being immediately. I then learned that consolidation rates drop July 1 every year. Right now interest rates for students are around 5.7 percent but that number will drop soon.

Consolidate student loans when rates drop to a level you are comfortable with or wait until the grace period ends after graduation and take the rate of the time.
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