Sallie Mae consolidation of private student loans debt.?
I currently have $73,000 in student loan debt from undergrad/grad through Sallie Mae. The interest rate is 9%, and my montly payments are outrageous. After the capitolized interest, I will be paying close to $140,000 after 12 years. My great grandchildren will be paying this debt long after I am gone. What is the best way to consolidate this debt and get a lower interest rate and better monthly payments. I am living in hell right now. Any advice would be greatly appreciated. Thank you.
You have the wrong lender. Sallie Mae will hunt you down like a dog for their money. They will call your house 8 to 15 times a day for as long as you owe them. If you want to transfer to another lender, the new lender does not want to deal with Sallie Mae because they do not allow you to leave them and they have the rights by law. Spread the word their are a very bad lender and you will have no rights in court if you want to sue them. Sallie Mae is well protected by the big dogs. My advise to anyone reading this is to avoid Sallie Mae loans. Make sure the next lender does not affiliate with Sallie Mae. I know many people who are trapped by Sallie Mae.
