I was lured into consolidating my Direct Stafford Loans with the government in 2001, because interest rates were at an "all time low." Now I have a LARGE consolidation loan at a fixed interest rate of 6% and am being told there is no way I can re-consolidate at the new low rates. You can re-finance a car or a house, but not a student loan?!?
I know there may be legislation pending on this, but is there anything I could do about it now?
Thanks for your wonderful website, I really appreciate all the advice!

Sarah

P.S. do you know of a good tax/financial advisor in the San Francisco Bay Area?
Thanks!

Zip Code: sarah_coats@yahoo.com

Check out the information contained on the site for the Association of American Medical Colleges at:

http://www.aamc.org/students/medloans/loanconsolidation

Zip Code: cpa@mdtaxes.com

Sarah,
Unfortunately, if you've consolidated all of your student loans, there's no way to "reconsolidate". Currently, student loan consolidation doesn't work the way that home mortgages work - once you've consolidated all of your loans, you're done. So unless you've left out a student loan, there's no way to consolidate a second time.

Paula Craw, Association of American Medical Colleges

Zip Code: pcraw@aamc.org