Sep
5
5
Can I consolidate my stafford loans, then a few months later reconsolidate with my perkins?
Financial Aid
mike d asked:
Since stafford is 6 months grace and perkins is 9 months grace, I could save a few bucks if I reconsolidate again. I also have a HPSL which has a 12 month grace period. So potentially is it legal to consolidate 3 times?
Related Blogs
- Related Blogs on 9 Months
- Parenthood advices
- Interest free Credit
Tags: 9 Months, Consolidate Loans, Grace Period, Hpsl, Perkins, Stafford Loans











September 5th, 2008 at 3:28 am
Hello Every body,
I live in the US and i really have never seen goodness shown to me this much in my life as i am a struggling mum with three kids and i have been going through really rough times in my life and my name is Helen Peters and in all this hard times, a worse incident occured in my life as i lost my job which was my only means of survival and things became really bad as i had bills to pay and my last son suffered a knee injury incurred when he fell from a tree house and the doctors informed me that he needed a surgical operation for his knee so he could walk again and at this point, life was useless to me as i have no family and no one to run to and each night, i will sit down and cry till the break of dun until one day, i read an advert on yahoo answers of man that stated that he could help people in my shoes with loans and in my desperate situation, i had no choice but i had to try and so shocking and suprising, it was like an impossibility becoming a reality, i got a loan of $60,000 USD even with my bad credit within 48 hours and my sons surgery was done and thank GOD it was successful and now, i am okay and living in comfort with my kids and i said to my self, i have never ever seen this kind of wonder in my life and i decided i will tell it to the whole wild world and i need every one to thank GOD for Mr Patrick Harvey, the man GOD used to rescue me and my family even when all hope had been lost and gone and i will say to every one, no matter how dark and sinful the world is today, there are still GOD fearing and reliable people on earth and if you are in my former situation or require a loan legitimately, i will advice you contact this loan lender and you can reach him via and i want you all to pray for this man for me.
September 5th, 2008 at 9:02 pm
No you can’t consolidate 3 times. And you might want to check the fine print when you consolidate federal loans, because most of the time the consolidation loans have higher interest rates and worse terms (no mandatory forbearance, forgiveness and policies among other things).
You might also want to check for fees involved in consolidation. If the interest is cheaper you still don’t really SAVE any money because the length of the loan is greater and you PAY more interest over the course of the loan. Banks don’t loan you money if they aren’t going to make money off you.
There really is no benefit to consolidation except a few dollars less a month in payments… even when I had 8 federal loans it was still one payment a month and the company (Sallie Mae) divided my money up between them automatically. Don’t consolidate federal loans.
Good luck.
September 7th, 2008 at 2:16 pm
Maybe you can try below website to get the information you need. It’s about student loan consolidation articles for your second opinion.
-%20Save%20Money,%20Pay%20Less,%20Spend%20More.htm
September 10th, 2008 at 1:18 am
When it comes to the financial aid process, people often ask “Where do I begin?” We’re here to help and guide you throughout this process. This page outlines the steps to applying for a Stafford Loan. Basic Stafford Loan Requirements are, You must have submitted a FAFSA. For subsidized Stafford Loans, you must have financial need as determined by your schoolbe sure to include the school’s FAFSA code (or prospective schools, if you are a high school student) to ensure that the results are sent to your school’s financial aid office.
Add A Comment