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> consolidating a private student loan?
surfergirl602
post Jun 11 2009, 01:18 AM
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hi all - this is my very first post here! A friend referred me here and its been a big help! now, on to my question!!

I have no idea what to do... my hubby has a private student loan through acs lenders education finance partners for like, 23k and the interest rate just went up to 15%! The payments are almost 400 a month, which we can't afford, and I want to consolidate it with another company, but I have no idea what to do or where to start. Its currently in hiatus because he's in the military, but the payments are scheduled to start in july. He doesn't have great credit, but we need to find lower payments. Is there anything we can do? Thanks for any help - I am trying to take care of this for him because he isn't able to.

Melissa
 
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Googie
post Jun 11 2009, 01:18 AM
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The MoneyMaker

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From: Mountain Home, CA Member No.: 1


 
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LynnInMN
post Jun 11 2009, 09:43 AM
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From: Naples, Florida
Member No.: 11,332
QUOTE (surfergirl602 @ Jun 11 2009, 01:18 AM) *
hi all - this is my very first post here! A friend referred me here and its been a big help! now, on to my question!!

I have no idea what to do... my hubby has a private student loan through acs lenders education finance partners for like, 23k and the interest rate just went up to 15%! The payments are almost 400 a month, which we can't afford, and I want to consolidate it with another company, but I have no idea what to do or where to start. Its currently in hiatus because he's in the military, but the payments are scheduled to start in july. He doesn't have great credit, but we need to find lower payments. Is there anything we can do? Thanks for any help - I am trying to take care of this for him because he isn't able to.

Melissa


Unfortunately consolidation loans for private loans are almost non existant. Even if you found one, your husbands credit could have to be better than when he took the original just to make any difference. Plus there are are origination fees as well.


IPB

Lynn
Ex-Student Loan Collector FFLEP & USDE
Ex Financial Aid Officer

Minnesotan escaped to Florida!
 
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