Student loan consolidation time?

I have held off consolidating my student loans the last 3 years (actually further back, but the rates were really low the last 3 or so. And it appears it might go lower still when reset on July 1st.

I’ve heard talk about a new law changing the consolidation rate from fixed to variable, but it wouldn’t effect people who have consolidated before the change (so I would get a fixed rate for the life of the loan of about 4% and change).

Any info about it would be appreciated.

I’ve been holding off trying to figure out if I should do it now or wait another year - where did you hear it could go lower? (I’ve been worried about the opposite.)

Also, I have heard talk that they may allow multiple consolidations in the future - which would take away the panic of possibly missing the right year.

I was worried myself, but the rates are tied directly to the t-bill which is lower then it was last year. It should be about the same or very slightly lower rates if there is no dramitic change.

I have never heard of this, and I think it’s out the window if the consolidation goes to a variable rate - or more accuratly negates any benefit.

I finished school last summer, and consolidated my loans in February, right after my six-month grace period was up. I did it through the U.S. Department of Education since I only had government loans for law school, but I got the rate locked in at what I think is a decent percentage. From what I hear, you can’t go wrong doing it now.