It is possible to refinance college loans while you are still
enrolled in school. In fact, when interest rates are particularly
low, it can be extremely beneficial to consolidate your student
loans while you are still in school. By consolidating when
interest rates are very low you are able to secure low, fixed
interest rates and often significantly reduce the amount you will
have to pay monthly for your student loans after college.
Ordinarily you would need to be in a grace period or actually
repaying your loans to be eligible to consolidate. However, if you
are attending school at least half-time, you can request to have
your loans placed in repayment status while you are still enrolled
in school. Many lenders have special forms available for making
this type of request. Once your loans are placed in repayment
status, the loans you wish to consolidate will be given deferment
status while your consolidation loan is processed.
As soon as you are approved for a consolidation loan, your new
loan will be placed in deferment status until you graduate, leave
school, or stop attending at least half-time. You will not be
required to make payments on your consolidation loan during this
time. Keep in mind, however, that if you consolidate while you are
still enrolled in school, you will forfeit the six month grace
period you would normally be entitled to upon graduation or
dropping to less than half-time enrollment.
A
loan is a type of debt. Like all debt instruments, a loan entails
the redistribution of financial assets over time, between the lender
and the borrower. 
