StudentFinAidInfo - Financial Aid FAQ, Sallie Mae Loan

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Question: STUDENT LOANS: Consolidating Fed. Loans with Sallie Mae Loans?
I am currently paying too much for student loans! I just graduated college about a year ago and consolidated federal student loans (subsudized and unsubsidized) with Brazos (referred by AES). What I would like to do is consolidate fed. student loans with student loan I received from Sallie Mae so that I only have one payment to make per month. Does anybody know of any companies that consolidate not only Stafford loans but also private loans? Even better would be a lower rate than I am paying now, but any advice will help!

Answer: Sallie Mae offers both federal and private student loan ...

Sallie Mae offers both federal and private student loan consolidations. Unfortunatly, with federal loan consolidation, it is the weighted average of the loans to be consolidated rounded to the nearest 1/8th percent. Private loan consolidation is based on your credit and if you apply with a cosigner, so the better your credit, the better your rate.

Answer: There are two sources for student loans -- the federal ...

There are two sources for student loans -- the federal government and private lenders. In order to obtain most federal student loans, you will first need to file the Free Application for Federal Student Aid (FAFSA). In mostyou can combine all of your eligible federal student loans into one loan with a Federal Consolidation Loan. Consolidating also locks the interest rate you pay on your loan.

Answer: Basically, you cant consolidate a federal loan with a ...

Basically, you cant consolidate a federal loan with a private one, sorry.

Answer: Sallie Mae recommends strongly against consolidating private ...

Sallie Mae recommends strongly against consolidating private and federal student loans together, as you would give up the benefits that come with the federal loans, such as forbearance and deferment. It's possible to consolidate a single private student loan - but like most private loans, the interest rate will still be based on your credit history. If your (or your co-signer's) credit has significantly improved since you originally took out the loan, this *could* help lower your rate. It's hard to give more information without knowing if you have a Signature or Tuition Answer loan. My suggestion is to call us and discuss different repayment options which could help lower your monthly payment. Contact info on link below.

Answer: There are a lot of student loans lenders.Before you go for a ...

There are a lot of student loans lenders.Before you go for a check on the interest rate and also see that the lender is legitimate. Do not pay any money to get the loan.
Question: Can Student Loans Like Sallie Mae Ruin Your Life?
I have to take out $75,000 from Sallie Mae. Can this truly ruin life. I have heard so many horror stories about Sallie Mae. I'm sick of it!!! I hate it when people have to live in fear because of this. Can this truly ruin life!? I plan to major in business. Not like some people that major in something that doesn't lead to a successful career. How much a month can they charge? With the amount I have right now? Thanks, I hope that everyone that is it debt any kind of debt will see light in their life. Not like everyone that all they do is cry about it. I'm forced to take this loan out, I already took out 20,000. I never give in to stress, I live life to fullest no matter what situation. Thank you all

Answer: Sallie Mae can't ruin your life. Choosing to NOT PAY ...

Sallie Mae can't ruin your life. Choosing to NOT PAY your debts can have a significant impact on your quality of life later, but this is the case with any debt. A quick estimate when figuring payments on student loans is about 10% of the total amount borrowed. So if you have 20,000+75,000=95,000 in loans, your payments would be about $950.00 a month. A guide on borrowing is never borrow more than what you will earn your first year after graduating. This will ensure you will be able to afford the payments. Will you expect to earn 95,000 a year after you get your degree? If not, then you are borrowing to much. Federal loans have limits on loans for a reason.... stick with federal loans only and you will not be in fear of not being able to pay it back.

Answer: Sallie Mae won't ruin your life any more than any other ...

Sallie Mae won't ruin your life any more than any other lender. You are looking at a debt similar to buying a small house and paying over the next 30 years. The key is to not get behind or if you do make sure you contact them. Payment deferments or forbearances do work. Ignoring your debt doesn't work. Do Not default on the loan, their collection charges are expensive and if they send it to a guarantor for collection you are looking at an additional 18 or more per cent added to the loan. Then you, not them, have the opportunity to ruin your life. Also, in default, you can lose your tax refunds and/or suffer wage garnishment while adding that 18% collection charge. In other words, if you borrow, keep them informed of what you are doing and if you need help.

Answer: Just because you majored in Business does not mean you will ...

Just because you majored in Business does not mean you will not have a hard time finding a job, so do not insist that everyone who majors in something else or something not career specified has it hard. It all depends on networking and actual work experience. Entry level positions are limited across the board hun. Sallie Mae has crazy interest rates on some of their loan options so just make sure you read through everything even the fine print this way you understand what you are borrowing and how you will pay back. Make sure you consolidate your loans after you graduate. If you cannot afford to pay them back, defer the loans until you are able to pay back the loans.

Answer: Thats your choice, not sallie mae's... BUT There are ...

Thats your choice, not sallie mae's... BUT There are literally thousands of lending sites in the internet that your are bound to find thats willing to "work" with your situation... what I suggest is that you make a short list of what you like in your student loan.. then check the websites in the internet and contact the ones that seems promising... tell them about your situation and what youre "preferred loan" as to speak... do a search in google or yahoo... also if you dont mind me adding, you can also try to visit website below, it has a gud list of lending sites... and student loan advice you should read before getting one...

Answer: You could try to google it ,here is some direct resource ...

You could try to google it ,here is some direct resource might be helpful.http://studentloan.online-helpers.info/consolidate-credit-loan-poor-student.html

Answer: Hello, Are you financial backward? Are you ...

Hello, Are you financial backward? Are you experiencing bad depth situation in life? Do you need a financial aid,do you need a loan? Austin Potter of Potter's Monitory firm Inc is a company with unlimited capital to fund all existent, proposed project needs and desires. Austin Potter of Potter's Monitory firm provides a number of financial assistance programs for small businesses including personal mortgage loans,home loans,car loans,company loans, start up business Loans. Our lending Program is designed to provide expeditious service on loan transfers to clients who have successfully completed their loan applications and a thorough understanding of our policies and procedures.We would love to fund projects at hand and offer personal loans as well to you, your firm/partners and clients. Looking forward hear from you on that Loan proposal in other that we may process and fund you. Contact us for further details on E-mail austin_potterloans37@yahoo.com GOD bless you all.

Answer: Hi, I used "Credit Solution" to settle ...

Hi, I used "Credit Solution" to settle loans.They managed to reduce loans up to 58%.

Question: Nellie Mae & Sallie Mae?
This is probably a really dumb question, but I've never used private loans before. What is the difference between Nellie Mae and Sallie Mae? I need to take out a large private loan for tuition and living expenses Thank you

Answer: I don't mean to discourage you but there is also Fannie ...

I don't mean to discourage you but there is also Fannie Mae. They have to do with lending, but are not sisters.

Answer: nellie

nellie

Answer: I am not sure on the names but most people get student loans ...

I am not sure on the names but most people get student loans from sallie mae. There are two sources for student loans -- the federal government and private lenders. In order to obtain most federal student loans, you will first need to file the Free Application for Federal Student Aid (FAFSA). In mostyou can combine all of your eligible federal student loans into one loan with a Federal Consolidation Loan. Consolidating also locks the interest rate you pay on your loan.

Question: If I send Sallie Mae 2 payments a month will it lower my principal for sending the payment in early?
Will both payments be applied to the monthly total the day I send them in to reduce the monthly interest?

Answer: This will not help you if you are planning on skipping the ...

This will not help you if you are planning on skipping the payment the following month's payment. If you want to reduce the interest you are paying, you need to send them more then the minimum required EACH month. Paying "early" doesn't really help. Also, you will need to be careful because most student loan companies do not consider it paying early. For example, if your monthly payment is $50 and you send them $100 in March, you will still be expected to make your $50 payment in April. The best advice, is to call Sallie Mae directly to discuss your options with them. Good luck, and it is very smart that you are trying to pay down the principal of your loan!!!

Question: Are parents ever liable for debt on a Sallie Mae student loan if they are not cosigners?

Answer: No. They are not., unless they are cosigners.

No. They are not., unless they are cosigners.

Answer: Curious though - they don't usually let you borrow money ...

Curious though - they don't usually let you borrow money without a cosignor. That's the whole point - someone to hunt down if you go delinquent. Whoever is listed as the cosignor is the one whose a** is on the line. Now if they can't find THAT person, who knows what they will do.

Answer: No they are not, if they didn't co-sign then they will ...

No they are not, if they didn't co-sign then they will not be liable, unless you put their name down for reference then they'll probably contact them if they can't contact you.

Question: Have you ever received a loan through Sallie Mae? If So How was your experience?

Answer: I never have myself, but a friend of mine did and has ...

I never have myself, but a friend of mine did and has apparently had a ridiculous experience with them. He strongly recommended I never get a loan from them. I can't say much as to the credibility of what he said, but it was enough to scare me away from them.

Answer: If you are thinking about getting a loan, then you should ...

If you are thinking about getting a loan, then you should know about the basics before you get started. If you understand the basic dos and don?ts of loans, then you will be better equipped to find the best loan for your needs. Whatever type of loan you are applying for, you should follow these basic rules to help you find the best deal. When searching for a loan, it pays to do your research. Look for as many suitable lenders as you can, so that you can find the very best deal. There are many online pages thatyou can afford. Taking loans out over 10 years or more can be risky, and you cannot be sure what your financial situation will be at that time.

Answer: Run as far and as fast as you can from them! I have never ...

Run as far and as fast as you can from them! I have never dealt with such rude people. And, they sound like they are on the other side of the world and get mad at ME because I can't understand anything they are saying. The speak a foreign language to you and get mad at you for only speaking English! I was hung up on and told to basically, well, use your imagination!

Answer: SallieaMae is the loan administer for loan which is from ...

SallieaMae is the loan administer for loan which is from Wachovia through UCLA- anyways, they fing suck, and they outsource and I can not comprehend anything they say on the phone. Calling them just annoyes the crap out of me. i filed for bankruptcy, knowing student loans would not get dismissed , I did it because of medical bills but I had to include the student loans, anyways, they blocked online account and it took them 30 minutes to come up with an answer for me on the phone as to why it was blocked, and that was on the second phone call, the first phone call they reset password and then attempted to do the same on the second one.

Answer: I saw a story on the news about how people were getting ...

I saw a story on the news about how people were getting jacked by these people really bad. They got lied to about penalties and ended up 4 times more in debt than they were to begin with. I'd go look them up and you should be able to find those stories. I'd run as far away as you can from them.

Answer: Had great experience with them. Great customer service.. ...

Had great experience with them. Great customer service.. Everythiing is done online.. They were always able to help me if I fell behind a month and things like that. No complaints here!

Question: I currently have loans at Citibank, Wachovia, and Sallie Mae, is it possible to consoildate all 3 into one pay
Also, Im not sure if they are private,Will I benefit by consolidating these 3 companies? I don't want to lose federal benefits such as deferment and forbearance

Answer: if you can find someone to lend you all that money.

if you can find someone to lend you all that money.

Answer: You should be able to consolidate. Identify which of your ...

You should be able to consolidate. Identify which of your loans has the lowest interest rate and contact that lender for consolidation. Your credit score and history do factor in though. If you've been pretty good about paying on time you should have no problem. I know if you consolidate with Sallie may you do not lose your opportunties for deferment or forbearance.

Question: I recently applied for a sallie mae signature student loan, do the funds go to my college or me?

Answer: it goes towards your tuition , you don't get cash like ...

it goes towards your tuition , you don't get cash like that

Answer: I got a sallie mae about 10 years ago and they paid the ...

I got a sallie mae about 10 years ago and they paid the school. I never laid eyes on a check. I don't know if things have changed since then though.

Answer: First of all, before you apply for or sign anything, you ...

First of all, before you apply for or sign anything, you need to find out all the terms and conditions. Secondly, the money will go straight to your school....do you think they trust people enough to give them tens of thousands of dollars to carry around in their pocket? Thirdly, way to go on going to school. It's good to know you are taking control of your future, congrats!

Answer: It goes right to the school. I have a Sallie Mae also.

It goes right to the school. I have a Sallie Mae also.

Answer: Thanks for being a Sallie Mae customer. Sallie Mae Signature ...

Thanks for being a Sallie Mae customer. Sallie Mae Signature student loans are disbursed directly to the school, after they certify the loan. Please read all your loan documents carefully so you fully understand the terms, and understand your rights and responsibilities as a borrower.

Answer: I have tried it myself, here is some good ...

I have tried it myself, here is some good informations.http://studentloan.online-helpers.info/alternative-student-loan.html

Answer: Hello, how are you doing? are you in need of a quick and ...

Hello, how are you doing? are you in need of a quick and urgent loan for your financial difficulties and you do not want to get scammed of your hard earned money, then meet the right person, his name is mr kelvin williams , a private loan lender,he give out loans at 3% interest rate loan terms and condition are simple and very much negotiable, contact me via kelvinwilliams12@yahoo.com for your easy and urgent loans.

Answer: For the Signature loan, it will go to the school, after they ...

For the Signature loan, it will go to the school, after they certify the loan. if there are funds left over, the school will generally send you a check. Sallie Mae also has a Tuition Answer loan. This one does not require school certification, and the check would be sent directly to you, not the school.

Question: Now that Sallie Mae is a private corporation, can bankruptcy be declared on student loans?

Answer: No. Bankruptcy can not be declared on any student loans. ...

No. Bankruptcy can not be declared on any student loans. Federal or private.

Answer: Lots of people think that once they?ve filed for bankruptcy ...

Lots of people think that once they?ve filed for bankruptcy they will be unable to ever get a loan again, and ultimately they are unable to do anything financial ever again. This isn?t always true, there arewill help to improve your credit history in a number of different ways.

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