Consolidation During Graduate School
Dear Betsy:
I am attending school full time for my doctorate and I am using student loans to pay for some of my education. I have outstanding student loans from my undergraduate and graduate program too. Can I consolidate my current student loans even though I am still in school and not paying back the student loans at this time? Can student loans be consolidated more than once?
Thanks,
Judi P.
Hi Judi:
Yes, you can consolidate you undergrad with your graduate loans; however, unless they are loans from the William D. Ford Direct Loan program, you will have to wait until you are out of school. Student loans can only be consolidated once, unless you take out new loans after the 1st consolidation and want to add them. The interest rate gets a bit complicated at that point and the borrower often doesn’t achieve what they are trying to (which is to lower the rate) so I suggest you stay put until either the rates threaten to go up or until you finish school. Please don’t hesitate to contact me with further questions.
Regards,
Betsy
