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Author Topic: Good website on loan consolidation  (Read 738 times)

midjeep

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ElizaB

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Re: Good website on loan consolidation
« Reply #1 on: May 26, 2005, 01:28:09 PM »
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rm5400

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Re: Good website on loan consolidation
« Reply #2 on: May 26, 2005, 01:36:04 PM »
So after posting my own topic on possiblity of rising interest rates I read this article.  It is now my understanding that unless you want to pay during school (most don't), we just have to risk it and hope nothing happens to the rates until we graduate at which point we can lock in fixed rates for the following 10 years.  Can anyone tell me if that is correct?
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midjeep

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Re: Good website on loan consolidation
« Reply #3 on: May 26, 2005, 03:55:02 PM »
So after posting my own topic on possiblity of rising interest rates I read this article.  It is now my understanding that unless you want to pay during school (most don't), we just have to risk it and hope nothing happens to the rates until we graduate at which point we can lock in fixed rates for the following 10 years.  Can anyone tell me if that is correct?

My understanding is that if you consolidate your loans while enrolled, you lose your 6 month grace period after you graduate law school. After you graduate, you only have a 60 day grace period. You don't have to pay anything while you are at school though.
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rm5400

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Re: Good website on loan consolidation
« Reply #4 on: May 26, 2005, 04:33:54 PM »
So after posting my own topic on possiblity of rising interest rates I read this article.  It is now my understanding that unless you want to pay during school (most don't), we just have to risk it and hope nothing happens to the rates until we graduate at which point we can lock in fixed rates for the following 10 years.  Can anyone tell me if that is correct?

My understanding is that if you consolidate your loans while enrolled, you lose your 6 month grace period after you graduate law school. After you graduate, you only have a 60 day grace period. You don't have to pay anything while you are at school though.

Hmmm....very interesting.  I'm hearing interest rates will be raised starting July 1st.  This is definitly something to look into, especially if you have a parent or SO who could pay a month or two in the beginning if you don't have a job yet.
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