What are the benefits of applying during my grace period?
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 application. We will schedule your disbursement for a date near the end of your grace or deferment period, so you won’t have to make payments until your grace/deferment has expired.
