I was talking to a friend of mine who missed the deadline (I didn't) and she said it was no big deal, they would offer it again in a few months as its something they do every so often. I was confused because I thought this was a "huge deal" and you HAD to consolidate before June 30 or you would forever be stuck with the high interest rates. Has this been offered in the past?

It doesn't matter so much to me because I feel like I gained by doing it, it didn't hurt me in any way, but I'm confused by her response and wonder if its just an attempt by her to blow off her irresponsibility (again) or if she received bad info from somewhere else....

I am pretty sure your friend got bad advise. Interest rates are set yearly on July 1st per the Higher Education Act. This is not something that changes every so often.

Well, in one way your friend was correct; she can consolidate at any time. Will she get the lower interest rate like you did? No, unless it is lowered next July.

One thing I thought of when I was reading your post, and I don't know your friend at all, but I didn't consolidate my loans either, even though the interest rates are up. I didn't because I have one more payment on rehab, and to me, it's more important to get my loans completely rehabbed than it is to lower the interest rate. I can always double up on payments and/or pay them off early, but I only have one shot at rehabilitation.

I dunno if that's something that might affect your friend but to me it was a huge consideration.

Rehab is only a consideration if your loans are in default.

I'm aware of that; my loans WERE in default. The OP didn't say whether or not his friend's loans were in default, but he DID mention her "irresponsibility." As I said, "I dunno if that's something that might affect your friend but to me it was a huge consideration."

That means I don't know if the friend is in rehab, and neither do you.

No, she's not in rehab that I know of, she's still in school or rather she returned to school but she was, at one point, making payments on her loans. But she mentioned not wanting to consolidate because she would lose her deferrment and I told her that she would not lose it, she would just have to request it again.

So she can still consolidate, just not at this particular "low low" rate. I mentioned her irresponsibility because she's the type of person that will try to downplay her mess-ups by making it seem like YOU'RE the one with the problem, not her, lol!

LOL...That's an awful long time for her to have to down play her mistake, not to mention all they money she will have to pay!If I were you, I's ask her how she got so smart! Some people never learn.