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Searcher asked:
The rules are so complicated. I’m still enrolled in school and don’t want to have to start paying until I have graduated and am in full time work.
Sphere: Related ContentThe rules are so complicated. I’m still enrolled in school and don’t want to have to start paying until I have graduated and am in full time work.
Tags: Best Time, Consolidate Loans, Full Time Work, Stafford Loans
July 26th, 2008 at 4:04 pm
Six months after you graduate from college/finish your last classes. My last class was in June of 2006. My scheduled date to begin paying my Stafford Loans was in December of 2006. So I waited until then to consolidate my payments because technically you have 6 months before you have to start paying any loans back.
July 28th, 2008 at 10:28 pm
The best time to consolidate you Stafford loans is DURING your grace period because you have a .06% lower interest rate then when you enter in repayment status. If you are in school then you will not have to pay on your loan even if you do consolidate because you are eligible for in school deferment. One other thing to remember is that you have 3 years of forbearance to use once you enter repayment in which your can put off paying on your loan until you are more secure financially.
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