HOW CAN I CONSOLIDATE MY LOAN WITH THE GRACE RATE?

You have the option of consolidating your loan during your grace period and taking advantage of a rate as low as 5.375%1. It is important to remember that you must indicate the month and year of your grace end date in #26 on the Consolidation Loan application if you would like to hold the processing of your Consolidation Loan until the end of your six-month grace period. The rates in effect at the time that you apply for your Consolidation Loan will be used in the weighted average calculation to determine the rate on your Consolidated Loan.

CAN I CONSOLIDATE MY LOANS WHILE I AM ATTENDING SCHOOL?
If you are currently a full- or half-time student, you can apply for a Consolidation Loan upon graduation. For loans disbursed prior to July 1, 2006, the interest rate during the grace period is 0.60% lower than the Stafford repayment rate. By consolidating while you are in grace, you will have the opportunity to secure a lower interest rate and start paying down your student loans.

WHAT IS A CITIBANK CONSOLIDATION LOAN?

A Citibank Federal Consolidation Loan combines several existing student loans into one new loan. You can enjoy the convenience of lower monthly payments, a single fixed interest rate and one monthly payment.

WHAT IS THE INTEREST RATE?

The interest rate for a Consolidation Loan is the weighted average of the interest rates on the loans being consolidated, rounded up to the nearest one-eighth of one percent. This rate is fixed and cannot exceed 8.25%. You may be able to take advantage of a rate as low as 5.3751.The interest rate on a Consolidation Loan is set according to federal law.