It usually resets the length of repayment. My student loans were scheduled to paid over 10 years, starting 6 months after I graduated. Consolidating a year into repayment (9 years left) would reset the repayment schedule back to 10 years. If you're still in the 6 month grace period then you probably don't care about this detail.
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timeasmymeasure
no subject
Date: 2005-08-01 06:25 pm (UTC)