Loans and the July 1st date

Paying for College
1

<p>Is it true that, as an incoming freshmen with no previous loan debts or transactions, it doesn't matter if I apply for loans for the upcoming year before July 1st?</p>

<p>In other words, is it true that I won't be able to get the current (lower) interest rates and that I'll be stuck with the readjusted interest rates that will take effect after July 1st?</p>

<p>Thanks!!</p>

2

<p>You cannot get the lower rate for loan monies that you have not yet received.</p>

3

<p>yes, but this is only your first year; maybe the rates will go down by the time you graduate and then you can consolidate.</p>