It looks like for the next school year I will need ot take out a private loan to cover living expenses. My first year I went to a community college and was able to afford (and save a bit) tuition and living expenses by working part time and in the summer. This previous year I depleted my saving account by paying for schooling. It looks like my summer job will only cover the difference between tuition (and cost of books) after federal loans. So my question is, are private loans still deferable once you enter grad school? I know that you can take out some federal loans to help pay for grad school. Can you use these to pay off the high intrest private loans from undergrad, while living off the stipend? Thanks for any and all input.