Should you consolidate your federal school loans? It is important to create an educated decision when considering this financial matter. Here are some points to consider when weighing your choice.
1 Your Grace Period
When you graduate you might be given a 180 day grace period before you have to start making your loan repayments. When you consolidate your loans, you must waive any remaining grace period. This feels like a bad thing bear in mind this really is not a ?free period.? Your loans continues to assemble interest for the unsubsidized portions whether you're making the repayments or otherwise. So while it?s true that you're not needed to make any payments to the couple of months period a lot of students elect to in order to maintain their balances from growing.
You may also begin the consolidation process and opt to retain your grace period. Your application is processed and ready for funding but is not actually funded