Consolidating Graduate and Undergraduate Student Loans | 02.11.10

Posted in Consolidation by Kristin Morris

88017577There is no doubt that the best time to consolidate your federal student loans is during you grace period. Consolidation makes jumping into the repayment process a lot easier because it leaves you with one interest rate, one lender, and one monthly payment. However, what happens if you are planning on deferring your loans to go to graduate school? Should you still consolidate? And will you be able to consolidate again with your graduate school loans? The answer to both of these questions is yes.

When you go to graduate school you qualify for in school deferment of your federal loans. The easiest way to do this is to consolidate your loans first and then defer the new consolidated loan. That way you only have to defer with one lender.

Some students worry that if they consolidate their undergraduate loans before they go to graduate school they will not be able to consolidate again once they get out of graduate school. This is not true. Once you consolidate your loans you cannot consolidate again unless you take on new loans. Since the graduate student loans are new loans they can eventually be rolled into your first consolidation.

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84 Responses to “Consolidating Graduate and Undergraduate Student Loans”

  1. Angelica says on March 9, 2010 at 10:38 pm:

    Wow! This information can help a lot of people really! Thanks!

    Reply To This Comment
  2. Kaiereana says on March 9, 2010 at 3:34 pm:

    this info. help me understand what loans and do for you if you decide to go to college.

    Reply To This Comment
  3. Laurie says on March 5, 2010 at 5:51 am:

    This is very helpful information. I'm glad I was here to read it!

    Reply To This Comment
  4. shannon says on March 3, 2010 at 9:00 pm:

    i enjoyed reading this because it is information which I can use!

    Reply To This Comment
  5. amanda says on March 2, 2010 at 11:38 pm:

    Great info. Hope to use some of this advice.

    Reply To This Comment
  6. malaika says on March 2, 2010 at 2:24 pm:

    this is very helpful

    Reply To This Comment
  7. Dei says on March 2, 2010 at 6:53 pm:

    thanks

    Reply To This Comment
  8. Roselyn Olorunsogo says on March 2, 2010 at 2:13 pm:

    THis information was great and very helpful

    Reply To This Comment
  9. Brittany says on February 26, 2010 at 4:43 pm:

    extremely useful! thank you!

    Reply To This Comment

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