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Consolidation of Private and Federal Student loans, BOTH with Sallie Mae

Posted 25 June 2014 05:35 PM

civitiello Newbie

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Joined 2014-06-25

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Are there ANY options out there to consolidate (and perhaps subsequently refinance) federal and private student loans? I have a private student loan that is taking its toll at 9.25% (and two federal student loans at 5.62%). Where should I start? What can I do? Who can I talk to for information/help?

Posted 27 June 2014 01:00 PM #1

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Joined 2011-03-30

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Some borrowers can find decent refinancing options for expense private student loan debt, but typically only when credit is significantly better than it was when the loans were borrowed.  Be VERY CAUTIOUS about consolidating federal student loans into a private student loan.  Federal loans have important protections and flexible repayment options that are nearly impossible to get in a private loan.

A list of lenders you could compare is here: http://www.edvisors.com/loans/private/lenders/

     

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