What pitfalls might I encounter when consolidating my student loans ?
Asked by Judy MI have $16,000 in student loans. I graduated in May '07 (6 months grace period ends Nov '07), and I need to know whom to trust in loan consolidation for an interest rate reduction. I have received several offers through the mail, each promising interest rate reductions (each lender uses letterheads suggestive of affiliation with my college). How can I find out the best strategy before my grace period expires ?
Favorite Answer
Answered by sarah
Just one thing to consider is that once you consolidate you loose whatever grace period you have left. I would see if you can speak with a financial aid person at your school.
Just one thing to consider is that once you consolidate you loose whatever grace period you have left. I would see if you can speak with a financial aid person at your school.
