Loan Consolidation: What To Watch Out For?

Holden

500+ Posts
Graduate in May. I have private and public loans. What should I look out for in consolidating these loans. Can I consolidate the public separately from the private? Who has the best rates/terms? Horror stories?
 
Sallie mae is a ******* nightmare. Watch them closely, take lots of notes with dates. They tried to up my wifes rate almost 75 bps.
 
I've heard horror stories about Sallie Mae (mostly on here), but they are my lender as well. I just consolidated a few months ago. My rates are:

2.625% on my gov't loans
7.25% on my private loan

I haven't had any issues, yet, but then again I just started repayment recently.

Midtown - how exactly did they try to up her rate?
 
I know that I'm taking it in the shitter for the 7.25% rate, but my private loan was a ****** bar study loan that was a ****-deal to begin with. Thankfully it's only a small portion of my loans and will be the first one to be paid off whenever I win the lottery.
 
Hell screw note taking just tape record all your conversations, perfectly legal to do in Texas. it is mind blowing the quick and reponsive replies to your inquiries when you explain ALL of your prior conversations have been taped.
biggrin.gif
 
Go to the U.S. Depatment of Ed.
The Link

Never had any problem, they have lots of repayment options. I consolidated with them about 7 years ago, variable rate, I'm paying 3.37%
 

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