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I took out Stafford subsidized loans each year I was in college through Sallie Mae. Interest rate is now 8%. Is it possible to consolidate?
I already make one payment through Sallie Mae
I took out Stafford subsidized loans each year I was in college through Sallie Mae. Interest rate is now 8%. Is it possible to consolidate?
I already make one payment through Sallie Mae
You’d have to contact a financial institution like CitiBank. That’s who I used to consolidate mine (I had the same two loans too). Consolidating means they contact Sallie Mae and Stafford in order to make one payment a month. It’s quite decent. But like I said, you need to call a financial institution, but have you graduated yet or received notices to consolidate? If you have, see what their rates are.
Left by lighthouse_freak on April 1st, 2010
There are a lot of factors that determine whether or not you qualify to consolidate your student loans.
To determine if consolidation is right for you, visit Mapping Your Future (http://www.mappingyourfuture.org/paying/cnsldte.htm).
Due to recent changes in the Federal Regulations, most lenders are steering away from consolidation. For example, Sallie Mae and NelNet (two of the largest Student Loan Providers) recently announced that they will not consolidate for a borrower who owes less than $30K.
Left by Lori on April 4th, 2010
Maybe you can try below website to get the information you need. It’s about student loan consolidation articles for your second opinion.
Left by Asian B on April 6th, 2010