Fed Financial

want to find a new lender for my student loans. Currently I have Nelnet, but it seems my payments are not? decreasing my balance.

Will refinancing my student loans affect my credit rating? I owe $1,900 to Nelnet.? I read that student loan interest rates will go up 2 percents in July.

student loans question? i have student loans through nelnet and sallie mae. both are over $300 a month (sallie mae is 600) consolidated. there is no way i can really make these payments. if i do pay the total a month for one and only a portion of the other can they still report me even if im paying them?? i have tried everything and cant get the payments lower

Student loans effecting credit? When I checked my credit report today, I saw that Nelnet was reporting my student loans for every disbursement they gave me. In other words, instead of it reflecting one loan with Nelnet (and the balance increasing as I borrow additional money), it reflects 6 seperate loans - even though it is only one account. It is one loan per disbursement. I am concerned that this may effect my credit rating. Even though I am not obligated to pay the loan until 6 months after my education is complete, their only suggestion was to pay down each disbursement in full or to consolidate my loans. I am not sure what to do. I don't really have the money to pay it back just yet and I am afraid that after a few years of schooling, it will show 18 seperate disbursements. Won't that look bad, having 18 seperate loans??? Any ideas would be appreciated! Also, Nelnet doesn't consolidate so I a not sure who to go with. I don't have good credit.

consolidating student loans? Can you consolidate student loans that were taken out for two different people? I would like to combine my loans with my husband's- is that possible? Also, does anyone have suggestions on reputable agencies to consolidate your loans with? I have received mailings from Nelnet and Sallie Mae- does anyone know anything about either? What is a good interest rate to accept for consolidation?

Internship deferment for consolidated student loans???? I am told by Nelnet that my consolidated loan is not eligible for internship deferment. (I have to intern for 2 years to obtain my professional license) Has anyone been granted a deferment for internship after they consolidated their student loans???? How did you do it? Can I get some helpful advice in deferring payment until I obtain my professional license? I am out of school & working full time.

Whats the best way to take over student loan payments from parents? When I attended college my student loans were put in my fathers name. Now that I have graduated, I would like to take over the payments. The loan company (Nelnet) won't let us and say we have to either make payments to my parents or get a personal loan to cover it. My husband and I are considering the latter. Any advice??

What are some good Student Loan Consolidation Companies? These crooks known as Sallie Mae have screwed me. Two years ago I started receiving my student loans, and the interest rate at the time was only 2%. I even have a sheet of paper stating that. My total in loans was $42,000. I get my statement in the mail last week and suddenly I owe them $57,000 and they jacked up my interest rate to nearly 18%. I nearly cried. I called Sallie Mae right away stating, I cannot pay $688.00 a month it is just ludicrous. I only have a couple more weeks to find a cheap, but very respectable loan consolidation company. My sister uses Nelnet, but they haven't gotten back to me yet. For all of you college graduates what is a cheap, but VERY respectable and honest Student Loan Consolidation company? You can email me with details if you'd like. Thank You.

Student Loan Consolidation? I'm just about to graduate from a private college and have a good amount of debt (private and federal). I have been looking into consolidating with Sallie Mae (most of my loans are through them) and it seems like a good deal. However, I also get consolidation mailings from companies like NelNet and Student Loan Xpress and was wondering if anyone has dealt with them before. SM and the other companies all compute your interest as a weighted average so they seem pretty similar. Specifically, StudentLoan Express (a CIT company) says I can get a rebate AND deductions off of my interest rate when I do an automatic payment. I'm just wondering if anyone has used these companies and/or places with rebates. I don't need too much detail with interest rates and such because I understand all of those things (finance major) but anything else would really help. Thanks!

Ever had a long lost "friend" use personal information gained from their job to track you down? Happened to my wife this morning. A woman named Amy Outland called my wife from Nelnet to chit-chat. (Nelnet=student loans) Said she had looked up my wife's information and decided to call her. Said she had done this to a couple other people as well. Obviously with identity theft being what it is today, this is very disturbing. Of course Nelnet is now claiming the call was in fact for "official" business, but could not say WHAT official business it was when we asked. (They're basically trying to cover their butts in case of a lawsuit.) What do you guys think? BTW My wife did not want to talk to this person, She was a troubled youth who had done some things to my wife that basically ended the friendship back then, but apparently this woman has forgotten these things and suddenly decided after 10 years that they were really good friends. Crazy. What do you think? What would you do if this happened to you? Yeah it's not really about not liking the girl. It's really about using someone's personal information for unethical reasons. I mean identity theft is a big deal and we've had a credit card # stolen and used (turned out it was some girl at a pizza place we had visited. she was writing down card #'s and using them online and at other pizza places with her boyfriend.) There's nothing flattering about finding out you're overdrawn with your bank because someone took this information and used it to harm you. And this girl was not emotionally stable and obviously still isn't.

A Bunch Of Qts Re: Private Student Loans. Input appreciated!? Now that it is getting close to the Fall '08 semester, I am getting ready to apply for private school loans two weeks from now. Returning to school in my 30s to finish my degree. Yes, Federal, scholarships, etc have been maxed out. Is it best to apply in person vs on-line/over the phone? I plan on stopping by the new Citibank branch in Harvard Square for my first attempt. Have you heard any positive or negative feedback on any of these that I'm considering: Citibank, Chase, Wachovia, Campus Door, Nelnet, Suntrust, Edamerica, Wells Fargo, US Bank, SunTrust Bank, Student Loan Network, Discover, StudentLoans, Campus Door, College Loan Corp, My Rich Uncle, Massachusetts Educational Financing Authority (anyone use this state-bases lender)? Who are the biggest and most secure lenders in the industry? Anybody use peer-to-peer lending? I plan on attending graduate school after undergrad. Are all private loans deferrable until after grad school? Is this a common feature of any private loan or does one have to be careful that although it says payments begin 6 months after the 4 years of undergrad, that deferment is extendable if one attends grad school? Any info on credit scores, Fico, finding out which lenders pull which score (TU is my highest) so I can target those lenders? Best to apply to all the lenders in a single two week period, so it hopefully only hits one's credit report once? Or is it best to apply to only a select few lenders because each time you apply it lowers your credit score? Do you have a preferred lender list of companies from your school that might be useful for anyone to use? What kind of terms in loan offers should I beware of? What mistakes have you seen people make? I should look for a low APR, no origination fees, discounts, rebates, etc? Know of any other websites or books covering private student loan that you can recommend? As always, any useful information at all is very, very much appreciated. Thanks. Rags P.S. Let's not start a the-evils-of-private-loans thread here. There are enough of them around. I know the dangers. More detailed answers, please. Not just Citi is evil. Tell me why in detail. Awesome, Woolfie! Awesome Woelfe!

Requirements for student loan? Requirements for student loan? i want to avail private student loan next year for college, i want to get the maximum from it like $40k a year! do they have a strict requirements? what if you have $50K savings???? anyone here who availed those loan like sallie mae, next student, nelnet, etc.

I need to find a grant to help pay back my student loan, Can anyone help me? I have paid very little and now find that I got my degree to early in 96 and after oct 98 teachers can apply for loan foregiveness depending on where they work. I work in a low income school and do not make much to cover my living expenses. I need to find something fast. NELNEt is not helping and do not tell you anything until it is to late.

Has anyone used Suntrust Bank for alternative student loans? My credit is too new, I guess. I just got a conditional rejection when I tried to request $1800 for the whole year. Which is weird, because my credit card's limit is $2100. The thing basically said I need a cosigner. Is this a good company? Nelnet recommended Suntrust. I don't wanna bother having my uncle co-sign if it's not worth it. There specifics looked pretty good with an interest rate capable of being as low as something like 4.5%. I already have the 3500. It isn't enough. Tuition plus books is about 8,000. I can cover books at about 500 a semester, but I want to take the loan so I can focus on saving, because the summer isn't long enough for me to save enough funds.

can I get out of 20% penelty for defaulting on student loan? The day my mother in law died I received a call about deferring my loan. I talked to the person and thought all was set. A year later I get a letter saying my loan is in default. I call nelnet my loan company and they say they sold the loan to college assist. They had my address spelled wrong and I had gotten married so my name changed. I call college assist and they offer me what seems to be a good program. 120$ month for 6 months then it goes back to Nelnet and and I can defer. So I accept over the phone and they take the money out. Now I keep getting calls saying they want me to sign an agreement saying I have to pay them almost 5,000 plus my loan for 22,000. It was in default for less than 2 months plus I didnt get thier letters and they called on a day where I was very upset. Is 20% for 2 months fair? Is there something I can do, like negotiate less? I havent signed anything yet. Thank you SO much for your imput!

PLEASE HELP ME!!! Is there a way to claim bankruptcy? I'm around $55,000 in debt. $16,000 is from credit cards. $22,000 for school with NELNET. $17,000 Private Student loan with SALLIE MAE. My parents are covering the NELNET loan, but I can't cover the others, and from what I've heard, one can't claim bankruptcy on Sallie Mae. Is this really so? Is there really no way to get out of that debt? The debt will always just keep growing and growing? I'm already paying $250 a month and it's not doing any good. THE DEBT IS GROWING!!! There must be a way to get out of it!!! Leave the country? Denounce my citizenship? If not, could I just tell them that I can only give them $1 a month or would they garnish my wages? Could they take away my freedom and jail me? I imagine that I would never qualify for any auto or home loans, right? What are my options and consequences? Oh yeah, that $250 is just for Sallie Mae... Nevermind the others.

Private Student Loan deferment? My loans are currently consolidated with nelnet. I decided to go back to school and will be going for 4 years so I called to get my loan deferred and they said I can only defer the private loan for 6 months at a time for a total of 24 months. Is there any way or anything I can do to get it completely deferred until I graduate as I can't get a job and goto school to make the $500 monthly payment.

Trying to repair credit...have a question or two? I am in the process of reading and following "Credit Repair for Dummies" and I have 2 questions if anyone knows.. 1. I have a student loan thru OSLA and I have previously slow-paid on it, but I have 2 entries showing up as NELNET LOAN SERVICE that are both on my Equifax report. In the comments section it says STUDENT LOAN...they both have 0 balance, 0 credit limit, 0 scheduled payment amount, 0 past due amount and the current status states ACCOUNT IS INACTIVE. What is this and is it hurting me? 2. My mother died in 2003 and apparently had added me to one of her credit cards as an authorized user for emergencies. I never knew this or never had a card. When she died there was a balance of 3600 that was placed and charged off on MY credit report...is there anything I can do to get this removed, or am I stuck with it?

Nelnet Student Loan Forbearance? Has anyone had to deal with Nelnet in trying to get a forbearance on their student loan? My loans are already consolidated, so that isn't an option, and I don't qualify for a deferment. They reasoning behind not granting a forbearance is that I have already had enough forbearance in the past, but after looking on the internet, I see that they are being investigated for shady collection practices and other people have had trouble receiving forbearances. Just wondered if anyone had luck getting one and how they did it? Thanks! I guess I'm wanting to know if anyone has had success negotiating with Nelnet, and if not what did you do?

Is there any legal recourse for not delivering incentives on time? I was looking at consolidating my students loans some time ago. I decided on Nelnet because it matched the other companies interest rates AND offerred a $200 gift card as an incentive for consoldiating. The card was supposed to be delivered after making the first on time payment. When I made my second on time payment I contacted them and they told me it would be 10-14 days. After 30 days I called again. This time I was told that it was sent on a specific date (that date would have already had the card arrive). They made a point of saying there was no binding agreement because it was only an incentive (oral contract?) and that they can affect my credit score if I make waves. I finally contacted the company that actually held the loan (Nelnet just serviced it). This company was able to get the card delivered. I want to know if there is anything that can be done about this? Can a lawsuit be filed for delivering late (2 months late)? It matters because I had to call them 3 times with no results. The reason I got it was because I filed Better Business Bureau complaint and contacted the loan holder. Who knows if I would have gotten it without help from the other company. How many other people were promised this and havent gotten it? It matters because they way the treated me on the phone was extremely rude. Threatening to ruin my credit is terrible. It matters because what they did/do is wrong and it should be stopped.

20% fee for student loan rehabilitation? The day my mother in law died I received a call about deferring my loan. I talked to the person and thought all was set. A year later I get a letter saying my loan is in default. I call nelnet my loan company and they say they sold the loan to college assist. They had my address spelled wrong and I had gotten married so my name changed. I call college assist and they offer me what seems to be a good program. 120$ month for 6 months then it goes back to Nelnet and and I can defer. So I accept over the phone and they take the money out. Now I keep getting calls saying they want me to sign an agreement saying I have to pay them almost 5,000 plus my loan for 22,000. It was in default for less than 2 months plus I didnt get thier letters and they called on a day where I was very upset. Is 20% for 2 months fair? Is there something I can do, like negotiate less? I havent signed anything yet. Thank you SO much for your imput!

Removing Negative Credit - Bills sent to wrong address? Please Help! I have recently decided to research my credit score. Due to a break-up, I moved from one address to another and changed my address before loan payments were due. For some reason ALL of my student loan information was going to my old address...where ex assumed it wasn't important if I received this information. I just pulled up my credit reports and score. There are multiple negative reports from my student loans. I have one loan through CitiBank and one throgh NelNet. CitiBank is reporting for each disbursement I recieved rather than the overall loan. EIGHT in total. Same account number, just different disbursements. NelNet is report FOUR negative accounts, same account number. Is that legally acceptable? I have never recieved a letter, phone call or any information that could assist with getting this paid. Any assistance you can provide me would be great, sample letters to dispute, if this is legal or if I just have to suck it up and deal with it. Yes, I understand it is my fault. I am not 'justifying' my actions, nor am I attempting to make lame excuses. I screwed up and am trying to move forward and understand this 'credit' worlds. I own my mistakes. I'm simply asking...are they able to make claims on each dispursement or one lump sum per loan? Maybe I put the wrong header...I am accepting responsibilty...please don't judge my character...I'm looking for answers, not life coaching.

Consolidating student loans? I have $20,000 in federal student loans. I do not have private loans and all loans are through the same lender.I contacted my lender nelnet about consolidation. They stated "In response to the ongoing credit market downturn and recent regulatory changes, Nelnet has made the decision to discontinue federal consolidation services for customers wishing to consolidate with Nelnet. As of January 24, 2008, Nelnet will no longer consolidate federal student loans." Can I still consolidate with another lender? I prefer to send out 1 check instead of multiple checks a month. Any information and input will be greatly appreciated. Thank You

requirements for student loan? i want to avail private student loan next year for college, i want to get the maximum from it like $40k a year! do they have a strict requirements? what if you have $50K savings???? anyone here who availed those loan like sallie mae, next student, nelnet, etc.? HOW ABOUT THE NEXT YEARSSSS??? NEXT 3 YEARSSS