[Lender] Consolidation Question

[Mc Conahay, Pamela K]

I am the first to admit that I'm not that "up" on terms of consolidation
loans, and frankly, I don't want to be.....even though I know questions
about consolidation are going to become more prevalent.  That's what you're
for, right?  

I've gotten this question from a student and rather than do a lot of
research and still get it wrong, I thought I'd go to the horses mouth, so to
speak.  So, horses, what do you say?  


I am currently paying back my student loans at 
a rate of 8%.  I would like to take advantage 
of the rate reduction that will occur in July 
2002.  I have approximately 4 years to pay back 
my student loans, and am on target to have them 
paid off by mid 2006.  If I consolidate my 
loans, will I be forced to pay it back over a 
longer time period?  In other words, if I 
consolidate my loans, can I still pay them off 
in the next 4 years?


Pam McConahay
Asst Dir., Compliance & Support Svcs
University of Oklahoma Financial Aid Services
731 Elm, Rm 125, Norman OK 73019-2111
(405) 325-4617, fax (405) 325-7608
pmcconahay at ou.edu