Regardless of which you choose, you almost certainly want to
consolidate. Current interest rates are at their all-time lowest which
means they will definitely go up sometime in the future.
As I understand it, there may be some differences in consolidation
between Federal Direct and private lenders.
The questions you're going to want answered are:
1. Assuming these are subsidized loans vs unsub, if still in grace
period do I lose the remaining grace period (I know you do with private,
but unsure about Direct).
2. What are my various payment options.
3. What is the consolidated interest rate - they may differ.
4. Probably other questions one should ask - maybe someone else will
chime in.
--
Steven B. Blank
College Financial Aid Consultants
29 Ives Hill Court
Cheshire, CT 06410
(203)250-7761
Mr. Knowitall wrote:
> I'd like to consolidate my direct loans but am unsure about how to
> proceed. I recently finished grad school and am in the hole about
> $13k. I really don't understand exactly how consolidation works so I
> have this question: Should I do it through something like Nelnet.com
> (which keeps sending me things to get me to consolidate) or should I
> just apply online through the government at
> http://loanconsolidation.ed.gov/
>
> Or maybe you have another recommendation about how I should proceed.
>
> Any input will be much appreciated.
>
> Thanks,
> Jason
> jtb1492 RemoveThis @yahoo.com
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