A community of 30,000 US Transcriptionist serving Medical Transcription Industry


CONSOLIDATING STUDENT LOANS INFO - LOR


Posted: Oct 07, 2010

Has anyone tried to conslidate any kind of student loans lately.  In 2007 my daughter graduated from a private college.  We took out student loans through Sallie Mae and when she graduated we consolidated them with SallieMae. They never asked if she had a job when we did this.  She has to pay back $350.00 a month.  We told her she can live with us rent free because we could not afford to pay these loans.  Now my second daughter just graduated from college and we had alll the same intentions of consolidating her loans.  Sallile mae does not consolidate any more and the only other place would be through Wells Fargo and they told my daugter she does not make enough money to consolidate and she would need a cosigner. She has a degree in Journalism, cannot find a job so works at Nordstrom as a Managers Intern.  They work on comission so there is no set salary. My husband offered to be her cosigner since we are cosigners on all of these student loans anyway and then Wells Fargo said that my husband would have to make $95,000 a year to be able to do this.  Well he does not.  I think they just don't want to consolidate any loans.  Our mortage is with Wells Fargo.  Anyone ever go through this.

I consolidated my federal student loans earlier this year. - sm

[ In Reply To ..]
http://www2.ed.gov/offices/OSFAP/DirectLoan/student.html

Maybe this will help.

This is only for federal student loans though. If you have private student loans, you will just have to work with your private provider.

Thanks for the link - my loans are now coming due

[ In Reply To ..]
grad school "ain't" cheap and neither the new career I'm trained for nor MT are really profitable enough to take it on!


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