10.26.09 | Consolidation Gives You 72 Months of Loan Deferment
That subject line was not a misprint. And no, I did not lose my mind. If you want 6 years of deferment on your federal loans listen closely.
Keep your loans unconsolidated and with your current lenders. You have 36 months of deferment time available to you with each of them. Go ahead and use all 36 months. Now, here is the kicker. When you consolidate your federal loans that benefit refreshes! You reset the dial and are handed another 36 months of deferment time. I kid you not.
Theoretically those who graduated in May ‘09, after their six month grace, may not have to make a payment on their federal student loans until November of 2015! Now tell me how awesome I am for telling you that. Don’t be shy. Post below.
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Please tell me lore. I have 72016.00 in student loans. I graduated in May 09. What do I do next
October 27th, 2009 | #
How do you apply or let your lenders know that you want to extend your grace for the 35 months? Was going to consolidate soon, so very interested in how you can extend payoff.
November 2nd, 2009 | #