Consolidating Student Loans

[bridgetkaryn]

Hi,

I am new to the FICO game and trying to get it all figured out so that once I finish Grad School, my credit will be in a good place...

I currently have about $20K in student loans (from 1 year of grad school and undergrad) and after this next year (I will graduate in May 2009) I should end up with about $45-50K of student loan debt (which hurts to look at/ think about!) I currently have all government loans and 1 private loan for about $7K. After I graduate, I need to know what to do? Do I consolidate them? What is my best course of action for dealing with this loan?

My parents have offered to be generous enough to pay for my loans for a year or two so that I have a little bit of a break to get on my feet with my career. I want to start thinking about the best way to manage this debt going forward.

Thanks in advance for your advice!

Bridget

[Anonymous]

You won't be able to commingle the private and federal loans-

After you graduate- you have 6 months before re-payment MUST start- if you consolidate during this 6 month period or before it will go into re-payment immediately as well.

Look at the posts bellow- I posted the information about interest rates on federal loan consolidation-

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bridgetkaryn wrote:

Hi,

I am new to the FICO game and trying to get it all figured out so that once I finish Grad School, my credit will be in a good place...

I currently have about $20K in student loans (from 1 year of grad school and undergrad) and after this next year (I will graduate in May 2009) I should end up with about $45-50K of student loan debt (which hurts to look at/ think about!) I currently have all government loans and 1 private loan for about $7K. After I graduate, I need to know what to do? Do I consolidate them? What is my best course of action for dealing with this loan?

My parents have offered to be generous enough to pay for my loans for a year or two so that I have a little bit of a break to get on my feet with my career. I want to start thinking about the best way to manage this debt going forward.

Thanks in advance for your advice!

Bridget

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