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My wife and I finished school in 2005 and we consolidated our loans with program, separately of course. Definitely need to check various programs for deductions on rates. With the program we have our rates were reduced after consolidation by 1.25% for automatic deductions, and another 1 or 2% after 48 months of on time payment. Which is easy with automatic deductions. My wife's loans will be in the low 2% range in another year, while mine will be mid 1%. No kidding!! A significant portion of her loans were over 8%. By the way, I worked very hard with the student financial clinic on campus my last year to get it to work out this way! Lots of research. Use the resources available to you!
By Joel
