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yeah its my first thread in the lounge. Some guy posted a thread about graduating soon and i just thought id make this little post.
I used to work in the unenviable world of student loan consolidation (telemarketing sucks) but apparently with lowering the stafford loan interest rates being relatively high on the priority list, I would advise against consolidating at a fixed rate. Do not let them send you any packages, do not do anything until the rates are changed! Go into deferrment at the end of your grace period if you need to. Consolidation will lock you in at these pretty high rates, and if the next congress halves them like they say they will, you will make yourself pay a hell of a lot of money if they only cut the rates and do not loosen the process for consolidation and have no way of getting relief.
Your rates are higher after grace (right now youll be at 6.8 i think) but if they cut it a whole 2 points it will be so much better for you. i got lucky because when I graduated school they were at their historical lowest.
Anyways take it up with your financial aid office and theyll say the same thing if they know anything. With the rumor of lower rates becoming more likely to be a reality, dont consolidate now!
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