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Consolidating Student Loans can be a confusing process. There are various black, white and grey areas concerning when, how and who can consolidate their student loans. For example, borrowers can consolidate an existing consolidation loan, though there are numerous conditions and requirements. They cannot, however, consolidate jointly with their spouse; as of July, 1st 2006 a married couple can no longer obtain a Consolidation Loan as joint borrowers. Borrowers who wish to consolidate student loans while they are currently enrolled in school have a more complicated task ahead of them. Borrowers are still able consolidate loans that are in a grace period, repayment or deferment. In the case of grace period consolidations the grace period itself ends as soon as the loan consolidation takes affect.
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