A few days ago
Can I consolidate my sallie mae loans after repayment begins?
I have sallie mae private student loans that go into repayment at the end of this month..does anyone know if I’ll be able to consolidate after repayment begins or do I have to do it before? My credit score will significantly increase next month so it would be great if I could pay the loans for a couple months and then consolidate for a lower monthly payment/interest rate. I can’t seem to find this information on their website. All help is greatly appreciated. Thanks!
Top 3 Answers
A few days ago
Favorite Answer
Most of the time, you must be in repayment in order to consolidate. Also,consolidating locks in the current variable interest rate you have. It prevent the rate fromflucuating on you. You do not have to consolidat to get a lower payment. Most have different payment plans.
Interest rates just changed on 07/01/07, so I would make sure the current rate for this yeat 07/01/07-06/30/08 isn’t considered “high”. Otherwise you may wanna hold off.
I worked for Direct Loans (Sallie Mae is the biggest and Direct Loans is #2).
0
A few days ago
You can consolidate private student loans at any time, whether in repayment or not. The above answerer is incorrect – federal consolidation will lock the interest rate, private consolidation will not. Sounds like you’re doing the right thing by waiting until your credit goes up before you consolidate – that should help you get a better rate.
0
4 years ago
it incredibly is a manner. yet once you consolidate your federal subbed loans and private loans, shop them separate via fact all you extra beneficial funds will bypass to the low interest subbed fee and your will nevertheless no longer deliver down the indoors maximum loan shark quotes of 10%+.
0
- Academic Writing
- Accounting
- Anthropology
- Article
- Blog
- Business
- Career
- Case Study
- Critical Thinking
- Culture
- Dissertation
- Education
- Education Questions
- Essay Tips
- Essay Writing
- Finance
- Free Essay Samples
- Free Essay Templates
- Free Essay Topics
- Health
- History
- Human Resources
- Law
- Literature
- Management
- Marketing
- Nursing
- other
- Politics
- Problem Solving
- Psychology
- Report
- Research Paper
- Review Writing
- Social Issues
- Speech Writing
- Term Paper
- Thesis Writing
- Writing Styles