I attend Hampden Sydney College and tuition, room, and board is around $32,000 a year. Well, I was awarded a scholarship,some grant money, and recieved a stafford loan. I still needed another $10,500 so I took out a private loan from JP Morgan. Being I will have to do this for the next 3 or 4 years, I was wondering that when I graduate, is a consolidation loan a good idea, and if it is, how difficult is the process?
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You’d have to compare how long you have after you graduate they are deferred to, the interest rate etc. The student loans are generally low payments, but if you wanted to consolidate to get them paid off quicker, that will save you a bunch in interest. It’s hard to say what interest rates will be in 3-4 years.
I found interesting information about your answer, college loans, scholarships, college grants & partime works here.
http://all-student-loan-consolidation.blogspot.com/2007/07/scholarships.html
Good luck!