Consolidating more than $100,000 student loan debt…?
Like a fool, I went to a very expensive school that I could not afford, but got the tuition from Sallie Mae. They are a terrible company and I do not want to work with them anymore.
My question is:
What would be a good company to go through in consolidation all my Sallie Mae loans?
I know I would most likely need a co-signer, which I don’t have.
I didn’t know I cout try to re-negotiate the interest rate. They haven’t been the nicest company. After my co-signer forgot about approving one of the loans, he had me (sort of unintentionally) accused of identity theft. It wasn’t the kind of thing that involved law enforcement, it was just with Sallie Mae. I explained the situation to them and they always flat out refuse to work with me on any issue.
I was just on the phone with a rep a little while ago and she asked me why I’m having trouble paying the bill. I explained to her how difficult it is to pay more than a thousand dollars per month while working part-time. She just paused for a second and then asked for the money.
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jpocia03 said,
May 15, 2010 @ 10:16 am
You might want to give this some serious thought. Most loans through Sallie Mae are able to be renegotiated for a extremely low interest rate. In addition, they can be deferred as well.
Otherwise, the best thing you can do is hope to get a co-signer and you’ll be consolidating at an interest rate of approx. 9-12%. The reason being is because you would have to apply for a personal loan, and those interest rates are higher than other types of loans.
Good luck.
Just my two cents.
exgxchaos said,
May 15, 2010 @ 10:18 am
holy crud wıth 100.000 dollars you can buy chına.
Laurence S said,
May 15, 2010 @ 11:07 am
Here is the source of a debt consolidation company named http://ezconsolidation.com for your reference where you can go for a student loan consolidation program. You can avail the following benefit through student loan consolidation.
> You consolidate loan taken from more than one lender
> You can reduce monthly payments by up to 50 percent.
> You can extend your repayment plan all the way up to 30 years.
> There is no prepayment penalties.
Thus you have to pay only one low single payment each month. In this way you can pay off your debts