I have tried to contact many different consolidation companies but they cannot help me with PRIVATE student loans.  My payments are outrageous and I cannot pay them.  I have placed them in forbearance many times but all that is doing is making my total owed amount go up since it still accrues interest.  Remember these are PRIVATE student loans not federal and right now my interest rate is 14%!! PLEASE SOMEONE HELP ME!!
119994
Most lenders do not offer private loan consolidation, but you will find some out there who do. (Note: Private loans cannot be consolidated through the FFELP or Direct Loan programs.)\n \nwww.finaid.org (a great resource) offers a list of private loan consolidators, as well as some sound advice.  Here is their list: http://www.finaid.org/loans/privateconsolidation.phtml.\n \nNot to push a certain company, BUT, of the companies listed here, you might look first at Key Bank, Wells Fargo, and NelNet, as they are established education loan lenders.  Some lenders on www.finaid.org's list may no longer offer private consolidation; others may require at least some of your loans to have been borrowed through them to begin with. Key Bank's program does not require that you have loans with them in order to consolidate with them now.\n \nA few words of advice: You will rarely -- if ever -- obtain both a lower monthly payment and a lower interest rate.  Generally, the longer your repayment term, the more you pay in the long run and the more "high risk" the loan is for a lender (hence, the higher rate). However, this is not unique to student loans (for example, auto loan rates work in a similar fashion).  As you do your research, pay attention to the terms of the loan and the interest rate they are offering you.  In consolidating your private loans, you should expect to see a slight increase in your interest rate; it is up to you to decide whether this increase is outweighed by the benefit of a lower monthly payment (if it helps you pay your other bills and preserves a good credit rating, the answer may be a resounding "yes"). Take advantage of any benefits that the company has to offer: consider having your payments automatically deducted from your checking/savings account each month -- it can often save you .25% off your interest rate.
267791
Generally, the loan companies that call you out of the blue are the ones that you shouldn't trust -- they're engaging in a practice called Direct Marketing, which is usually a sign that their company isn't strong enough to get its business in a more "low-pressure" way. Most good companies won't call you unless it is (a) on your school's behalf or (b) you are already their customer.\n\nYou can listen to what they have to say, but don't apply for anything or give out your personal information unless YOU called THEM. (Even if you do trust them, it's often easier to consolidate online or on paper -- that way you can cross your "t"s and dot your "i"s and keep a record of the transaction).  \n\nIf you decide to consolidate, whatever you do, make sure you're getting a "Federal Consolidation Loan." I've encountered some companies who have VERY sneaking ways of convincing people that their consolidation product is the same as the Federal Loan Consolidation program, when it really isn't -- so be careful or you could lose all the benefits of the Federal program.\n\nThe Federal Trade Commission's "Do Not "Call" registry applies to cell AND home phone numbers.  You can register for free and if someone DOES call you, you can lodge a complaint here: https://www.donotcall.gov/Complain/ComplainCheck.aspx
393698
My grandson just did that, although we do not have a citi bank in our community, He called them and had all of his loans consolidated.And locked them in at a low interest. Then he had to defer them, work wasn't too good, not many hours.Citibank I understand is really good with students. Won't hurt to contact them. Good Luck.
99386
In order to consolidate you have to find out who your lenders are for each loan. You can do this by contacting the school for which the loans were given. If you have the same lender for all loans then you have to consolidate through them. The school's financial aid office can give you The numbers. You may pay the same place, but the lender could be different. If the lenders are different you have the option of choosing who you use. In that case you could ask the school who they recommend. I personally know that Sallie Mae is a good company that offers consolidation. You could try and call them. http://www.salliemae.com/apply/borrowing/smartloan.html \nthat is their website to apply for consolidation on line, and there is a payment calculator. Just keep in mind that if your loans are in their grace period, and you consolidate before the grace period is over you will have to start making payments.
335975
You cannot consolidate less than 2 loans - that is what consolidate means - putting together 2 or more loans.\n\nAs for refinancing - restating your terms to a lower interest rate - usually they will not do it for less than $5,000.  Even with the interest rate increases, you should not see much of a difference with your loan amount being so low.  \n\nIf you do not have other higher interest rate items, just work on paying it off faster.  If not, your student loan is probably the least.
391837
Hello Lisa,\n\nUnfortunately alot of people are in the same situation across the country... In fact i hear situations like this on a daily basis..\n\nAlot of student loan companies (sallie mae, nelnet, etc) will give student laons to both parents and students... All sounds fine but what they do alot of the tiem is make the parent think they are just goin gto be the "co-signer"\n\nUnfortunately what it really means is the parent will be the "borrower", and the child will be the "beneficiary"...\n\nSo, on credit the loans are under the parents name ONLY... Meaning the child has no financial obligation to the loan...\n\nSo, being the child has no financial obligation to the loans, the government will NOT allow you to consolidate the parent polus loans into your own federal loans...\n\nBut, that does not mean you are out of luck...\n\nYou will actuually benefit greatly by consolidating the loans you have in your name to one bill.. And then have your parents do the same thing...\n\nThis will make things easier especailly if your parents expect you to pay them back for the loans they took out in your name... \n\nYou will have your consolidation loan (1 payment) and your parents will havfe their loan (also 1 payment)\n\nYou also will still get all of the regualar benefits and rate discounts offered by the department of education for doing  a consolidation program...\n\nI work with Student Aid Lending, we are a nationwide title IV lender administered by the Department of Education... I would be happy to assist you with the consolidation process.. \n\nTake a look at my yahoo 360 profile.. There is alot of helpful information there for anyone to view.. You can also find the direct link to my website..\n\nhttp://360.yahoo.com/my_profile-HlUDUhMib7M9Wlj6o6L2SfGcEYtkt9xsaQ--?cq=1\n\nIt is actually a VERY SIMPLE process, it can be completed in 10 minutes over the phone and internet...\n\nFeel free to call or email me at any time.. Im available at all tiem to answer any questions or concerns you may have..\n\nI hope this helps!\n\nJason Fry\nStudent Aid Lending\n1-800-964-0642 ext 114\njasonf@StudentAidLending.com
525380
Most private student loans will be sent directly to you.  One company that I have had a wonderful experience with is think financial.  It only took minutes to apply and i had a check delivered to me in a week.  Great company with great customer service.\nCheck out their site at:  http://www.thinkfinancial.com\nGood Luck.  If not them, most other private loans offer the same type services.
276702
FYI: I solved my school tuition cost problem by working for an employer who offers 100% tuition reimbursement.  Also, did you know that some student loans are forgiveable if you work in an improvished area for a designated amount of time.
366412
I was like that for a long time, and I am only now starting to get out of it.  It is hard, but call all of your debtors, and make a payment plan.  I set it up as I would pay them each ten dollars a week, and then when I got one paid off I would pay the difference to the next smallest debtor.  A lot of times they don' t like to deal with weekly payments, but if you tell them what you can afford, and as long as you send your payments regularly, then it shouldn't be a problem.  I read a book that helped me with this as well, it was called The Four Laws of Debt Free Prosperity By Blaine Harris and Charles Coonradt with Lee Nelson.  This book really helped me, I wish you luck!
387
One way to handle this, if you own a house, would be to get a second mortgage or refinance your current mortgage for $42,000 more than the current balance of your mortgage.\n\nIf you don't own a house and cannot get a debt consolidation loan, there is little else you can do. The best thing would be to pay as much off as you can every month (always pay more than the minimum) until you have little enough debt to get a loan.
203340
I WORK FOR A STUDENT LOAN COMPANY IN TEXAS, AND IF A BORROWER IS UNABLE TO MAKE PAYMENTS THEY CAN TRY TO QUALIFY FOR A DEFERMENT OR A FORBEARANCE TO POSTPONE PAYMENTS UP TO 12 MONTHS AT A TIME.  HOWEVER IF THIS IS A PRIVATE LOAN, THERE MIGHT BE DIFFERENT STIPULATIONS.  YOUR BEST BET WOULD BE TO CONTACT WHOEVER IS SERVICING YOUR LOAN AND TRY TO MAKE PAYMENT ARRANGEMENTS.  IT WOULD NOT HELP YOU TO FILE FOR BANKRUPTCY BECAUSE STUDENT LOANS CANNOT BE DISCHARGED BY BANKRUPTCY, AND THE BANKRUPTCY STATUS WOULD STAY ON YOUR CREDIT REPORT FOR 7 YEARS.  I WOULD JUST GIVE THEM A CALL AND TRY TO WORK SOMETHING OUT, IF YOU DON'T YOU COULD DEFAULT, AND THEY WILL GARNISH YOUR WAGES AND TAKE YOUR INCOME TAX RETURN, AS WELL AS REPORT IT NEGATIVELY ON YOUR CREDIT.  GOOD LUCK
54097
If you can't afford to pay off the current student loans, how are you going to pay off a new consolidation loan?  If you default on that one, your credit history will get worse!\n\nWho has listed the loan on your credit report?  The collection agency or the original creditor?  Exactly when did it go into default?  How much do you owe?\n\nHere is my thinking.  First, blow off the collection agency all together if you can.  It doesn't matter what you say to them, your excuse is never good enough.  They will still want your money NOW and will only harrass you.  Send them a letter to quit bothering you, then contact the original debtor.\n\nTry to work out a deal with them to pay it back, but ONLY if they agree to remove the negative marks on your credit report and show the loan is paid in full.  The only reason you are paying them is to get your credit history fixed, but many times the creditor will leave the bad mark on your record.  Get the agreement in writing before you start paying them back.\n\nGo to the links I've supplied below for more information.  \n\nGood luck, I've been this route.
363984
No, but its not very sensible as you are continuing to mount up interest charges.  Contact them and see if you can come to some arrangement which will make it easier to pay.  \nDONT IGNORE IT ANY LONGER!!!!
210760
First, you need to obtain all three of your credit reports from Equifax, Ecperian, and Trans Union. There is a fourth, somewhat smaller bureau called Innovis (Minneapolis, Minnesota). It would do good to ask for a report from them as well. Set a goal as to the time frame you want to "clear" your credit. Judging from your credit reports, assess which negative reports will be "falling off"(7-10 years, depending on the case), and which ones you need to pay. Before you pay anything, try to do what is called a "debt validation", . This is when you can write letters to creditors requesting proof of what you owe. If they can prove you owe it, then write certified letters to the company(s), and negotiate how much you will actually pay. If not, then request via certified mail that they remove negative listings from your credit report. DO NOT CALL THEM, and if they call you, simply say "no comment", and hang up the phone. MAKE SURE you get any promises in writing, including the promise that they will promptly report to all 3 credit bureaus that you have satisfied your debts. Budget yourself. Save whatever you can, and pay off debt in lump sums. This is a long process, so be patient. It is well worth your time. I have said this time and time again, but this is a great website. It helped me greatly when I was getting my credit together: www.creditinfocenter.com    This site also has some templates for the letter I was just talking about. This stuff works, and you will be using the same steps all these debt consolidation companies use, and get results. The only difference is is that you will be saving yourself some money.
262738
M.K\n\nActually you can consolidate your loan with the government now http://www.loanconsolidation.ed.gov (Borrowers Services) and it's actually not as bad as you think. \n\nBefore you consolidate your loan check out the Borrowers Services and see if you can get a better rate. You can consolidate any amount even your $50,000 debt and its free to consolidate your loan!\n\nI know Salliemae is one of the best student loan consolidators but sometimes their rates can be a little high depending on your situation.\n\nDoesn't hurt to check them both out. Hope you get it worked out soon!
324875
Sallie Mae can and will garnish wages, and will claim any income tax refund that might otherwise be due to you. Do contact Sallie Mae, they often have a number of options available to help prevent a default. I know it feeling terribly embarrassing to you at this time, but they deal with this situation all the time. They will have alternatives to offer you.\n\nBankruptcy does not eliminate government funded student loans. \n\nI do not know specifically about American Family Education Services. In general private lenders must hire collectors, and or file a legal suit to collect a debt. If found liable, you will have the additional collection costs added to your already problematic debt.\n\nIf any part of your current financial problem include consumer credit card debt, Consumer Credit Counseling can be of help. They help you create a realistic budget, negotiate with creditors, sometimes even eliminating some or all interest, and they help you make the payments to tame your debt.  Do not be fooled into using one of the many scam companies that feed off the reputation of this original non-profit group, the IRS has recently (finally)filed suit against many of those predatory groups.
376702
Sallie Mae offers a community college loan: http://www.salliemae.com/get_student_loan/find_student_loan/undergrad_student_loan/private_student_loans/community_college_loan/\n\nYour interest rate will depend on your credit rating - but so will any other private loan. You may want to check with your college and see what lenders they recommend.