Can I consolidate my stafford loans, then a few months later reconsolidate with my perkins?
Since stafford is 6 months grace and perkins is 9 months grace, I could save a few bucks if I reconsolidate again. I also have a HPSL which has a 12 month grace period. So potentially is it legal to consolidate 3 times? Answer: No you can’t consolidate 3 times. And you might want to … No you can’t consolidate 3 times. And you might want to check the fine print when you consolidate federal loans, because most of the time the consolidation loans have higher interest rates and worse terms (no mandatory forbearance, forgiveness and policies among other things). You might also want to check for fees involved in consolidation. If the interest is cheaper you still don’t really SAVE any money because the length of the loan is greater and you PAY more interest over the course of the loan. Banks don’t loan you money if they aren’t going to make money off you. There really is no benefit to consolidation except a few dollars less a month in payments… even when I had 8 federal loans it was stil
