windcatcher 0 #1 October 29, 2008 Okay guys. Right now I am paying back a few different student loans a month; however, I do have some Sallie Mae loans that I am wondering how I'll be able to make such a large payment to every month. I was thinking about consolidating my Sallie Mae loans, but don't know much about it. Do I consolidate with S.M. or some other loan company? Can I get the actual amount decreased or not? Which consolidation company have you used and why? I was hoping to forebear the loans for a few more years till I could get a much better paying job, but I just found out that S.M. doesn't offer forebearance anymore into the future! . I have been doing a good job paying off my debts but it's going to be awhile before all my student loans are paid off. Mother to the cutest little thing in the world... Quote Share this post Link to post Share on other sites
Squeak 17 #2 October 29, 2008 shop around and find out who is going to offer you the best terms and interest rate. and consolidate with them, (best being, what is most appropriate to you)You are not now, nor will you ever be, good enough to not die in this sport (Sparky) My Life ROCKS! How's yours doing? Quote Share this post Link to post Share on other sites
Beckert 0 #3 October 30, 2008 HI! All of my undergraduate loans were consolidated with SM, never had any problems with them. They had great customer service both on line and by phone. However, with my loans for my masters degree I left with another company because the interest rate was lower, and would increase if I consolidated all the loans. Good news is I only have one more payment and I am all paid off. Good Luck Quote Share this post Link to post Share on other sites
ladyskydiver 0 #4 October 30, 2008 I consolidated my undergrad loans with Sallie Mae. Didn't have a problem, and it dropped the monthly payment as well as the interest rate. I didn't shop around because I had a great interest rate with them at the time, and their customer service was really good.Life is short! Break the rules! Forgive quickly! Kiss slowly! Love truly, Laugh uncontrollably. And never regret anything that made you smile. Quote Share this post Link to post Share on other sites
chiquita24 0 #5 October 30, 2008 You should be able to just call them and they should give you some options for consolidation. I didn't have any loans with SM, but I didn't have any problems with Wells Fargo. My private loans are another story. I too wish I could defer or put them in forbearance until I make more money. I'm barely making it by right now. Good luck! Quote Share this post Link to post Share on other sites
PhreeZone 20 #6 October 30, 2008 Depending on the type of loan that you recieved will determine if you can refinance it. Call SM and talk to them, it is the only way to know. SM was pushing a program in their consolidation program that would double the length of the loans and would cut the payments in half, the reality is that you pay a lot more in interest that way. I'm down to less then 36 payments to go on my student loans. Yesterday is history And tomorrow is a mystery Parachutemanuals.com Quote Share this post Link to post Share on other sites
