My application for the student loan consolidation has been in the processing stage for almost two months now and my first payment for ACS, FedLoan and Sallie Mae are all due on July 15th. I called to check the status of my application and I was told that they are in the process of sending me the loan summary and I am responsible for any payments before my first IBR payment. On the other hand, I also applied for deferment for all these loans and was denied. My question is should I contact the creditors directly and tell them that I am waiting on my first IBR payment or just hope that my IBR payment will go through before the payments are due. I know that creditors are not really advocating consolidation and IBR.
You need to make the payment on the last date possible for it to post prior to the due date and just hope that you'll see a $0 balance when you login to pay. Don't skip the payments unless you really don't care about possible late payment remarks.