Fed Financial
consolidating 160k private sallie mae student loans?
I borrowed a small fraction of 160k and was shocked when I realized I have to pay back 3 times what I borrowed. My mom is the cosigner so it's not like I can just default. I hear sallie mae is bad at letting people consolidate loans. I'm hoping that someone has had this experience and can tell me what I can do to lessen the blow. I can't afford my monthly payments. Yohata, you have been reported for spamming.
Public Comments
- I consolidated my loans with them and it was not a problem. Just call and explain your situation. You can make "interest only" payments which are lower payments until your finances get better. *Rate this answer as Best Answer, if you like it best :)
- Student loans are horrible. I have 68,000 mostly private loans. I am with Chase student lending. You call give them your loan info- they consolidate your loans and give you a monthly payment. My payment didn't even cover my interest. So here 3 years later my loans have increased. So- What I have done is- take out a loan against something- your house or something of a lot of value. Then use that money to pay off your loans. The interest rate on your new loan will be less. Mine is 6.25%. It was between 9-12%. Look for a bank in the middle of know where. They will be more likely to want to help you.
