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I was wondering if anyone has any thoughts about my situation...I graduated in 1998, and went on within 4 months to a graduate fellowship. I have been doing this fellowship for the past 3 years, and defering my loans. The fellowship and the deferment are over at the end of this month. Since a graduate fellowship is considered an in-school deferment, I was under the impression that I would receive a 6 month grace period after the fellowship was over. But my loan company is saying no, that my grace period was used up after I graduated with a degree and I am not entitled to a grace period even though as a graduate fellow I am considered a student. A grace period ends up being important because it will give me some time to consolidate my loans at a lower rate and apparently if you consolidate in a grace period the interest rates drop another .6%. What makes this disturbing is that this whole grace period thing seems like it is subject to interpretation by the loan companies as several people I know (who are also graduate fellows)are getting a grace period after their fellowship.

Has anyone else dealt with this and have any suggestions about how to handle this?
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