Student Loan Consolidation

It's annoying to deal with, but those of us still in school with student loans ought to take advantage of consolidating at a low interest rate.

The upside: You lock into a 2.875 interest rate for repayment (lowest in 40 years). The rate will jump to 4.7 on July 1st and will start accruing at that rate in a couple of weeks.

The downside: You potentially lose a grace period, normally 6 months after one graduates from school. However, some lenders will let you defer anyway, if you request it...so this can be resolved. Other downside: you will not be able to consolidate again....so it's a gamble that the student loan rates won't drop below 2.875 in the forseeable future. I think it's a good gamble.