Student Loan ConsolidationFollow

Has anyone been thinking about consolidating their student loans before that July 1st deadline? I really, honestly don't fully understand it, which is part of the point of this post.

I was looking through my lender's consolidation application, and at the end there is a part you are required to sign which states that "I waive any in-school status or grace period granted to me by federal regulations." However, it also states that "I further request, if eligible, an in-school deferment be placed on my loans."

Huh?

If I glace through the documents, half of the time it seems like consolidating will throw me straight into repayment, which is bad. But, what is that about in-school deferments? I am just curious if anyone has consolidated before while in school still and knows wtf the deal is.

I consolidated my loans directly through the Department of Ed. If you have Stafford/Direct loans, check out their site here for some info.

If you're still in school you should be ok as far as your deferments, but if you're out of school (or less than 1/2-time I think), you may lose some of your grace period.

Call the loan company *ask for a supervisor* and have them explain it. If they can't, then you probably shouldn't sign it.

Ok, I will. I just thought it would be easier to go through my lender I have been using. I will certainly look into it...

I should have dealt with this, you know, a month or two ago instead of the week before, but hey!