I currently have a subcns loan for 17000 and uncns loans for 15300. I have several additional Stafford loans that are not yet consolidated in the amts of 7000 and 15000. I took the standard billing option however all are currently in forbearance until 7/2010 and 12/2010. Within the next month, I will be paying the interest owed thus far and want to begin making payments however the consolidation needs to happen first.

What I would like to do is to consolidate all of them together however I don't want to lose the interest rate on the first consolidation which is 2.125%. The loans for 7000 and 15000 are at 6.8%. The information provided states "if I understand correctly" that I can still consolidate all and the current interest rate for the consolidation will remain at 2.125% and the loans at 6.8% cannot go higher.

Can someone confirm that I am on the right track and let me know if this would be a smart move to take?

Thanks.

I also have a question related to this topic. I have a consolidation loan with Sallie Mae; all of those loans are Stafford, SLS, or Perkins loans; I have never had any private student loans, and I have a Perkins loan not in this consolidation loan (I forgot to include it in the original consolidation) which I have just finished rehabilitating. The consolidation loan is presently in forebearance; I am presently on Social Security Disability (SSDI, not SSI), and I want to consolidate this rehabilitated loan with the others. The rehabilitated Perkins loan is currently being serviced by a third party under contract with the US DOE. My payments on this Perkins loan begin in January, 2010.

Apparently, Sallie Mae and others have suspended their federal loan consolidation programs (other sources suggest this is because changes made by Congress have made such loans unprofitable to offer), so I would like to know if I have any other consolidation options. I want this Perkins loan to remain in good standing and to be in forbearance for the duration of my illness, since the payments on this rehabilitated Perkins loan are such a strain while my income is so low. I desperately want some breathing room financially. My credit is wrecked from unpaid medical bills. I have no idea who to contact now to find answers to my questions or offer services towards a solution. Do I have any options?

Thanks,
CV, 12/16/2009