We co-signed for our daughter 's student loan through Bank-One. Once she graduated we thought we could consolidate these under one interest rate...however we are being told that these are 4 seperate loans and since they are private cannot be consolidted. We are presently making 4 payments each month. It seems like there's no light at the end of the tunnel. Does anyone have any suggestion other than "what a fool" ?.
2007-02-15 14:24:36 · 3 answers · asked by Sherry L 1 in Education & Reference ➔ Financial Aid
It's untrue that private student loans cannot be consolidated. Sallie Mae has a private consolidation loan that will offer you that single monthly payment and a choice of repayment plans. http://www.salliemae.com/after_graduation/manage_your_loans/consolidate_student_loans/private.htm
2007-02-16 01:40:43 · answer #1 · answered by Anonymous · 0⤊ 0⤋
Well, I'm a financial aid officer at a local private school here, and I deal with student loans all the time.
If this bank has informed you that you're not able to consolidate under them, why not consolidate with a better company? You can take the loans you currently have, find another bank/loan company with an interest rate that's either equally as good, or almost as good, and start paying them on a month-to-month basis.
2007-02-15 14:30:41 · answer #2 · answered by Jenn 3 · 1⤊ 0⤋
There are tons of lenders that would be more than willing to consolidate your student loans. A good one is www.salliemae.com
Good Luck!
2007-02-15 14:57:31 · answer #3 · answered by freckles1063 3 · 1⤊ 0⤋
call around to diff consolidaing company's.
2007-02-15 14:35:07 · answer #4 · answered by Anonymous · 0⤊ 0⤋
www.lendingtree.com
U think it is bogus but they are GOOD!
2007-02-15 15:35:44 · answer #5 · answered by u_better_remember_me 3 · 0⤊ 0⤋