10.23.09 | I am In-School, Can I Consolidate?
If you are enrolled in school half time or greater as defined by your school are not eligible to consolidate your federal loans. You need to wait until you are out of school to consolidate. This is just one of the ridiculous rules you will uncover in the federal consolidation process.
I have a friend who just started her Grad program and never consolidated her undergrad loans which span back to 2003. And the loans she has from 2003 to July 1, 2006 are at 2.5% right now, but by the time she graduates from Grad school there is a good chance those variable interest rate Stafford loans will increase from the current 2.5% rate. She wants to lock them in now at this fantastic rate, but she is unable to do so. This is just another way students get the shaft.
Thoughts? Sound off below!
The Student Loan Help blog is sponsored in part by:
