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anyone consolidate student loans?


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  #1  
August 7th, 2004, 04:30 PM
zonapellucida
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My rate is increasing so I am thinking about it. If you had who did you use?
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  #2  
August 8th, 2004, 05:04 PM
Faith's Avatar Super Mommy
Join Date: May 2004
Posts: 1,552
All of mine (and dh's) are consolidated through USDE (US Dept of Ed) - you can't consolidate private st. loans, but the regular ones (stafford and stuff) you can. It has been a good experience for us.

If you want to look into it, here's a link: http://www.ed.gov/offices/OSFAP/DirectLoan/index.html
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  #3  
August 8th, 2004, 06:22 PM
zonapellucida
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What about direct and Sallie Mae accounts?
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  #4  
August 9th, 2004, 06:24 AM
Faith's Avatar Super Mommy
Join Date: May 2004
Posts: 1,552
Heidi, give them a call - they were really, really helpful when I needed to consolidate my loans - it's a toll free number.

I *think* Sallie Mae accounts can be consolidated, but I think it depends on the origination of the loan. This particular consolidation is a direct loan and I'm pretty sure that dh had one we put on there, but I'm not sure at this point.

I would avoid those private consolidations - I liked this one because it is USDE rather than some place I'd never heard of. Safer, IMO, lol.

Oh, and if you need to, they're really nice about forbearances - we've been soooo tight on money that we had a forbearance on it for the last four years - it still has accrued interest (which stinks) but you can make payments if you would like to anyway - it just keeps the loan from going into default and keeps your credit clean if you're having a hard time making payments. And they have a whole bunch of payment options, too.
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  #5  
August 9th, 2004, 08:06 AM
zonapellucida
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Thanks! I have used every forbearance nder the sun! So idefinitely need a company that I don't have to start repayment yet. I have another year on my direct loans and Sallie Mae just sent me a payment book--I am going to try defering Again.
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  #6  
August 9th, 2004, 08:51 AM
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Join Date: Apr 2004
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Heidi - I did my consolidation with Sallie Mae. It was very easy - they have an online form to fill out...totally automated.
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  #7  
August 9th, 2004, 04:01 PM
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Join Date: Jun 2004
Location: Florida
Posts: 125
I did mine with Sallie Mae also, all over the phone. It took about 5 minutes, it was extremely easy.
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