I want to refinance my ridiculously high interest rate Sallie Mae loans. No, I don’t just want to consolidate…I want to find a company that will buy the federal loans and I will pay them back at a lower interest rate. I know this is hard to come by as there is no equity behind the loans (as different to a mortgage loan). Please help me!
I have about $16,000 in public and $5000 in private loans. I can meet the deprivation of my monthly payments. My interest averages around 5.5%. Will I in fact save money by refinancing or consolidating. I don’t really know it. From what I know it is really for people who can’t make their monthly payment and want to lower it and extend the term on the loan while paying more interest overall. Is that right?
I just got a full time job and my company has a credit union that I can join as part of my benefits. Has anyone ever heard of Sallie Mae allowing a credit union to buy a loan or refinance it? I have heard all kinds of horror tales about Sallie Mae and I want to get away from them as quick as possible. Lucky for me I only borrowed $7,000 but after just two years this loan is already close to $9,000.
Why can’t you reconsolidate federal student loans a following time when interest rates drop without taking out new loans if your credit is excellent? What is the reasoning behind it? Anyone know?
I have loans that are managed through Sallie Mae and AES ( federal loans). Is there a goverment website that can tell me what my TOTAL loan amount is ?? I know i can go do this via AES and Sallie Mae seperately, but any other ways? I just want to be able to see everything in one shot. Thanks!