How can I negotiate my sallie mae student loans?

Question

I would like to pay off the entire loan at once, but its a large amount. I have been making monthly payments for the past 9 years and interest is still being added to the original loan amount. My total loan is now $80,000. Is there anyway I can negotiate with sallie mae to see if they except $40,000 or $ 50,000 as full and final payment?

Answer 1

As far as I know, Sallie Mae, because your student loans are federally backed (rather than backed by a private bank), will not negotiate a settlement.

Have you considered consolidation? Student loan consolidation is a way to bundle your student loans into one new consolidation loan, reducing the number of monthly bills and possibly lowering your monthly payment. Plus, in the case of federal student loans, consolidation gives you the opportunity to lock in a low fixed interest rate.

The best thing would be to contact them directly and ask them this question. 1-888-272-5543 (got this from the Sallie Mae website)

Good Luck

Answer 2

no you have gotten the means to furnish you a time-physique. yet your ideal guess is to now no longer enable it get that a innovations. call your financial company(s) on a on a daily basis foundation, fairly some circumstances an afternoon, interior the previous it gets to salary garnishment and negotiate a cost quantity it rather is voluntary. salary garnishment isn't a cost plan which will rely in case you ever determine to get pupil help decrease returned. solid fulfillment.