Question by Midnight Snack: Can I defer payments AFTER I consolidate Federal Student Loans using Special Direct Consolidation? Tomorrow is the last day to consolidate using the special direct consolidation plan. I was wondering if you can defer payment on newly consolidated loans AFTER you finish the consolidation process. I know that existing deferment will continue if you consolidate, but can you extend them after the consolidation process? Best answer for Can I defer payments AFTER I consolidate Federal Student Loans using Special Direct Consolidation?:
Answer by Charles
no, you can only qualify to consolidate if you are actively making payments and continue to do so, you can not consolidate if you are deferring
Answer by mickiinpodunk
Yes, as long as you make payments on the consolidation loan until you are able to be deferred for another status, you can defer payments on the loan. However, you do not get another grace period on this loan, so you need to plan ahead as well.
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�?"Know what you owe. See the Student Debt Repayment Assistant at http:///www.consumerfinance.gov/students/defaultoptions. At this site, you have a direct link to the National Student Loan Database System for Students to find a list of all federal loans ... Student Loans Can be Heavier Burden Than Credit Cards
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