What are the benefits of applying during a grace or deferment period?
When you apply for loan consolidation during a grace or deferment period you are eligible for a further reduction of your consolidation loan interest rate. That’s because during these periods, your variable Stafford loan interest rate is .6% lower than during active repayment. If you wish to take advantage of this lower rate you must submit your application prior to your grace end date. Your disbursement date can be scheduled towards the end of your grace period. Your loan consultant can explain in more detail.
When you apply for loan consolidation during a grace or deferment period (authorized time periods when payments are not due), you are eligible for a further reduction of your consolidation loan interest rate. That’s because during these periods, your variable Stafford loan interest rate is .6% lower than during active repayment. If you wish to take advantage of this opportunity, check the appropriate box on your student loan consolidation application.
