If you are about to enter your grace period, you might be wondering when exactly you should consider consolidating your federal student loans. For many seniors at four-year schools, they will be among the last to consider the variable interest rates for federal loan consolidation.
Currently, consolidation interest rates are projected to decrease slightly on July 1, 2010, so my suggestion would be to wait until early June, when the rates are officially announced, before consolidating. Remember, this ONLY applies to borrowers who secured variable loans before July 1, 2006. Federal loans taken out after that date are subject to a fixed model. If you have any questions about student loan consolidation, visit our forums!
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