Problems with Loans?

Question

Consider this scenario: I finish my Masters in September. Having deferred my undergraduate loans for one year to complete my masters, will I be allowed to defer them again when I enter Ph.D. studies four months later?

Answer 1

You could consolidate all your loans into one so that you only have one payment to make and then check with the lender to find out about deferment. Once you enter back into school your loans generally go back into deferement once the lender gets the word from your school that you are in attendance. Each lender is different, but you will find that consolidation works best. I advise my students to use Direct Loans they have better rates and are really good to work with.