Fed Financial

move my sallie mae student loan to somewhere else.?

I'm having problem with Sallie Mae and their customer service. They are never updated and continously making errors and just makes me nervous because of their lack of knowledge. Where can I move my sallie mae student loan to? All the payment so far has been paid on time and everything is current but can not trust sallie mae anymore. Help~

Public Comments

1. There are two sources for student loans -- the federal government and private lenders. In order to obtain most federal student loans, you will first need to file the Free Application for Federal Student Aid (FAFSA). In most<!--instances the FAFSA is required for all federal financial aid including federal student loans. Deferment options are available while you are still attending school at least half-time. There are four main federal loan programs. http://best-loans.awardspace.com/student-loans.htm Federal loan consolidation is for students who are in repayment status or parents who wish to extend the repayment period on their current PLUS and obtain a fixed interest rate for the life of the loan-->you can combine all of your eligible federal student loans into one loan with a Federal Consolidation Loan. Consolidating also locks the interest rate you pay on your loan.
2. If these loans are federal loans that were bought by Sallie Mae, you really can't "move" them. You would have to take out another loan at a different company... and the only program I can think you would be eligible to get would be a consolidation loan.... but consolidating federal student loans is a bad idea because you loose all the federal beneifts of having them, plus most of the time the interest is higher or the payment plan they put you on is longer than your original loan, meaning that even if the interest rate is lower, you still pay more in the long run because you pay on it 3 times as long. Put up with Sallie Mae, they'll get it straight eventually or you'll figure out what you are doing wrong.