Student Loans

QWhat If My Loans Are In A Grace Period Status?
AIf your loans are in a grace period status, you may apply for consolidation and receive an additional 0.6% discount to your loan's interest rate. The application must be received in our office on or before your grace period end date in order to obtain the additional 0.6% discounted rate. When you fill out your application, be sure to include your grace period end date and NOT your first payment date. We will hold the funding of your application until that date. Please note that the receipt of the application close to the grace period end date may not give the consolidation lender enough time to fund the consolidation loan before the grace period expires. Therefore, your interest accrual on the underlying loan will be based on the interim interest rate plus the repayment interest rate when calculating the total amount of the consolidation loan. Even if the consolidation is funded after your grace period expires, you will receive the discounted rate provided the application is received and date stamped on or before the grace period end date.