2007-05-01 13:51:52 · 2 answers · asked by ehmorris3 2 in Education & Reference ➔ Financial Aid
June is your decision month because any interest rate changes for federal loans are benchmarked to the bond equivalent rate of the 91-day treasury bill from the last treasury auction in May. This means you can know in June what the interest rates will change to on July 1. Then you can choose to consolidate in June with today's rates, or wait until after July 1 if the rates are going to drop.
With this said, you need to be aware that your interest rates probably will be lower during your grace period, and will increase 0.6% when you enter repayment.
2007-05-02 02:08:38 · answer #1 · answered by Bear B 4 · 0⤊ 0⤋
I'd go with before. Interest rates have been rising for the last few years, so you'd probably be able to lock in a lower rate than after that date.
2007-05-01 21:07:50 · answer #2 · answered by Carlos T 2 · 0⤊ 0⤋