| While there seems to be an urgent need to | | | | loans, the federal government should be the one |
| consolidate student loans, there are really times when | | | | responsible for loan interest payments during the six |
| to get student loan consolidation programs should be | | | | months. However, if you decide to consolidate |
| deferred. Borrowers with merged debts might be | | | | student loans with your grace period, you and you |
| qualified for such deferment benefits; this actually | | | | alone have the responsibility of immediately paying |
| depends on the student's personal circumstances. For | | | | your loan. |
| example, you might have exhausted your privilege to | | | | Another thing, before getting into student loan |
| defer on your government debts. However, this | | | | consolidation programs, there are important facts |
| should not be a cause for you to fret. Once you | | | | that should be known about college debts. It is |
| merge your multiple loans, this allows you to obtain | | | | important to distinguish the private from the federal |
| more options to defer. | | | | student loans. Private student loans have a much |
| So, when is the most appropriate time to consolidate | | | | higher rate of interest than the government debts. |
| student loans? The best time should be after the | | | | This is because the former is considered unsecured |
| borrower has graduated from college. For students, | | | | while the governments loans are government-backed |
| their loans will be due around 6 months after | | | | by the government. |
| graduation. This is the standard grace period, and is a | | | | This fact only means that federal student loans have |
| good time for the borrower to get his debts | | | | a lower rate than the private debts when refinancing. |
| organized and even be merged via student loan | | | | Most students both have these two kinds of debts. |
| consolidation programs. | | | | And definitely you may refinance them. However, it |
| Within the six months, you can perform all that is | | | | is a must that you do not mix these two loans. |
| necessary to ready up your loans for merging. | | | | Consolidate these two groups of student debts |
| However, the actual consolidation should not be until | | | | separately to retain the benefits that one can gain |
| after six months grace period. With the still individual | | | | from them. |