sara08 Posted January 16, 2008 Report Share Posted January 16, 2008 I am in grad school, but I have student loans through Sally Mae from undergraduate, which are listed separatly and which I got behind on (a few of them) and they are killing my score. I know that I can't do anything about it, but now that I am back in school again, I can at least defer until I find a job that pays anything. My question is, I am thinking of consolidating now, I've received tons of crap in the mail about consolidating, but I don't really know anything about these places, and the last thing I want is to have to deal with a another bad lender, can anyone recommend a good place to consolidate with, (or for those who have, a place not to?) Thanks. Link to comment Share on other sites More sharing options...
flak88mm Posted January 25, 2008 Report Share Posted January 25, 2008 I am in grad school, but I have student loans through Sally Mae from undergraduate, which are listed separatly and which I got behind on (a few of them) and they are killing my score. I know that I can't do anything about it, but now that I am back in school again, I can at least defer until I find a job that pays anything. My question is, I am thinking of consolidating now, I've received tons of crap in the mail about consolidating, but I don't really know anything about these places, and the last thing I want is to have to deal with a another bad lender, can anyone recommend a good place to consolidate with, (or for those who have, a place not to?) Thanks.If you are planning on consolidating your loans with another company, don't do it. What you need to do is set up a payment plan with Sally Mae. Ask about the loan rehabilitation program. If you make like 12 consecutive payments, the negatives on your reports from SM will be removed and they will report you as paying on time. Link to comment Share on other sites More sharing options...
LynnInMN Posted January 25, 2008 Report Share Posted January 25, 2008 If you are planning on consolidating your loans with another company, don't do it. What you need to do is set up a payment plan with Sally Mae. Ask about the loan rehabilitation program. If you make like 12 consecutive payments, the negatives on your reports from SM will be removed and they will report you as paying on time.Sorry but you are way off the ball...You cannot rehab unless you are defaulted. (And even then it is 9 payments to qualify)I always recommend the Direct Loan Consolidation loan program thru the Department of Ed. Sallie Mae doesnt have the best reputation for customer service so I would advise to leave them completely. If you consolidate your undergrads right now, you can immediately put them into inschool deferment and once you finish, you can reconsolidate adding in any new grad loans. Watch when you apply as you do loose your six month grace period when you consolidate. DL's is very customer friendly and they have the best options for payment plans. Link to comment Share on other sites More sharing options...
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