Sallie mae not consolidating

Read the fine print when consolidating your Sallie Mae loans with a private lender.

Some lenders charge origination fees, percentages or even penalties for payments made prior to the stated due date of your package.

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They are, however, eligible for consolidation with private lenders.

Sallie Mae loans can be consolidated by a private lender like a bank or credit union.

It may be difficult for some graduates and undergraduates to find loan consolidators that deal with both private and federal loan consolidation, as most loan consolidators are no longer willing to provide services for federal loans.

Sallie Mae is one of them, and elimination of these services as reduced the variety of their customers.

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Figuring out how to pay for both college tuition and student loans is a problem plenty of undergraduates and graduates are struggling with, especially in this difficult economy, where less and less businesses are providing employment opportunities to recent graduates.Whatever type of student loans you have and whatever form of consolidation you end up signing up for, certain dangers must be taken into consideration.The extended payback period and lower monthly payments associated with consolidated loans is what attracts many students to the process in the first place.Federal Direct Consolidation Loans help to combine multiple loans into one, eliminating separate payments and simplifying the process.Federal Direct Consolidation Loans are available to all students holding Subsidized and/or Unsubsidized Stafford Loans, Direct PLUS Loans, Federal Supplemental Loans for students, Federal Perkins Loans, Federal Health Education Assistance Loans and Federal Nursing Loans.The minimum monthly pay is fifty dollars, over a period of fifteen years.ñ graduated repayment plan: this plan allows for students to make payments that can be reduced or be interest only for a period of four years.

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