T.H.E (Total Higher Education)

[usrael]

Just got off the phone with T.H.E.
Wonderful service...great tips.

I decided to go with them with my MS-1 Stafford loans.

Question- If all my undergrad Stff loans are subs. does it make sense to consolidate at 4.7% now? The way I see it 7 years from now things will be different (for better or worse). Considering the gov. is taking care of my undergrad interest all the way through residency I see no point in consolidating. It takes away some flexibility in terms of grace period etc... It's worth the risk in my opinion.

Does anyone have insight?

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[OSUdoc08]

Just got off the phone with T.H.E.
Wonderful service...great tips.

I decided to go with them with my MS-1 Stafford loans.

Question- If all my undergrad Stff loans are subs. does it make sense to consolidate at 4.7% now? The way I see it 7 years from now things will be different (for better or worse). Considering the gov. is taking care of my undergrad interest all the way through residency I see no point in consolidating. It takes away some flexibility in terms of grace period etc... It's worth the risk in my opinion.

Does anyone have insight?

Yes, consolidate now. Your grace period will reset and you will have a full one when you are done.

The interest will be locked in at 4.7 when you are paying it off. If you don't consolidate, it will jump to above 7%.

 

[UserNameNeeded]

Yes, consolidate now. Your grace period will reset and you will have a full one when you are done.

The interest will be locked in at 4.7 when you are paying it off. If you don't consolidate, it will jump to above 7%.

But it's jumping to 7% for the 2006-2007 academic year. When these subsidized Stafford loans come due for incoming medical students all the way in 2011 (assuming 6 month grace and no deferment), the interest situation could be entirely better (and, at worst, it can't exceeed 8.5%).

What do you mean the grace period is reset? I thought when you consolidate (before the end of your grace period) you lose your (remaining) grace period. If you then go back to being a half/full-time student, repayments are no longer mandatory and the government pays the interest on the loans. But once you're no longer half/full-time again, you go into immediate repayment (assuming no deferment) without another grace period.

 

[OSUdoc08]

But it's jumping to 7% for the 2006-2007 academic year. When these subsidized Stafford loans come due for incoming medical students all the way in 2011 (assuming 6 month grace and no deferment), the interest situation could be entirely better (and, at worst, it can't exceeed 8.5%).

What do you mean the grace period is reset? I thought when you consolidate (before the end of your grace period) you lose your (remaining) grace period. If you then go back to being a half/full-time student, repayments are no longer mandatory and the government pays the interest on the loans. But once you're no longer half/full-time again, you go into immediate repayment (assuming no deferment) without another grace period.

1. The interest rate will not go down. Don't count on that.

2. You lose the current grace period, but the consolidation is considered a new loan with an entirely new grace period.

 

[newguy357]

Can you still consolidate after July 1st 2006? I didn 't think we could anymore, so it won't matter anyway...I thought that was what Bush's new plan does, prevents us from consildating anymore...but I am probably wrong...

Yea man, it's Bush's plan. He caused Katrina too. Hey, pass me that joint.

 

[usrael]

1. The interest rate will not go down. Don't count on that.

2. You lose the current grace period, but the consolidation is considered a new loan with an entirely new grace period.

1. probably right. but think fiscal relativism here. 2011 is far off.

2. many consolidation plans including T.H.E. rob you of your 6 month grace period. its gone ...just like that.

 

[OSUdoc08]

1. probably right. but think fiscal relativism here. 2011 is far off.

2. many consolidation plans including T.H.E. rob you of your 6 month grace period. its gone ...just like that.

Where did you hear this?

I am with T.H.E. and currently still have my grace period.