Fed Financial

Need Help, I have High interest rate Student Loan with Sallie Mae?

I need help and advice. my student loan interest rate with Sallie Mae is 11.75%. loan amount $25,750.00 and my credit score is fair, so before the first payment due from Sallie Mae. can i consolidate the loan, or maybe i can get another loan with low interest rate? what is the best way? i've read some of the issue from other ppl, they said you can not consolidate your loan with Sallie Mae? meaning that, i will be paying my student loan with Sallie Mae for the rest of my life. WOW.... (i told my self, i sholdnt have get student loan) Please help. Private student loan

Public Comments

1. I consolidated my student loans with Sallie Mae a few years ago, and my interest rate is only 1.875 %. Call their 800 number and try to get a lower rate, or go to their website to learn more.
2. Do you have a federal student loan? Sallie Mae works only through federal loan agency. There is NO WAY this loan is this high through the governement. I have loans for 5 years and consolidated some....and YES you can consolidate if you are done with school or completed at that college. Federal loans CANNOT go past 8%!!!! This is the law. There is something else going on here. Please look up federal loan on wikipedia.