Can I consolidate while in school?

Joseph Hurley, who writes the College Money Guru advice column for Bankrate.com, will be answering questions all this week for people who want to know more about student loan consolidation. Ask your question here.

Dear College Money Guru,
I'm currently enrolled as a Graduate Student and I'm borrowing money to pay my tuition. I have about $4,500 left to pay off from undergraduate loans. I'm wondering if I can reconsolidate my undergraduate with my graduate loans that I will not begin paying until I earn my master's degree next June. In all, I have about $15,000 borrowed right now (undergrad and grad). I'm confused about whether consolidation applies to my loans that are "pending" while I'm enrolled as a student and completing my degree. I hope this makes sense. Thank you.
-- Adam

Dear Adam,
Yes, you should be able to consolidate your undergraduate and your graduate loans into one consolidation loan. Contact a couple of the student loan providers to see where you can get the best deal and good service. To consolidate your graduate loan you will have to be put into repayment status, but you can still request deferment so that payments won't begin until after you graduate.

Answers for:
Converting an exisiting loan to a fixed-rate loan
Life after locking in a rate

Joseph Hurley, who writes the College Money Guru column for Bankrate and founded savingforcollege.com, will be answering extra questions this week as the June 30 deadline approaches for consolidating student loans at a low rate.