Loan Consolidation

[ryanpj]

I matched. Was not too worried, until about five minutes before noon. Now I am looking to consolidate my loans.
I have both Federal (Stafford Sub/Unsub) and Private Loans (MedCap/Wells Fargo).

The total amount of debt is: 150,000 for Federal
20,000 Private

Question #1: Would I be able to get Deferment? I think the only way I could was if my monthly loan payments were >20% of my gross monthly income. I believe the only way I would be able to make the payments high enough in order to qualify would be to consolidate at a 15 year repayment plan. Is this correct? Or would deferment really help me out much? Should I just go for the sure fire Forberance? Remember Forberance is very easy to get. Deferment is not.

Question #2: Many Loan Consolidators offer Interest rate reductions as benefits such as 1% interest reduction after 36 monthly payments on time and another 0.25% interest reduction with automatic checking withdraw. Many consolidators have footnotes or small print that says that these offers or benefits are subject to change without notice. I am aware that consolidators frequentyl sell the loan to another servicer and at that time the new servicer may not offer the same benefits.
Does anyone have any knowledge of this?

Thanks

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