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Full Version: How does one consolidate a Defaulted Loan with 2 that are not?
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thashocker
How do you consolidate a defaulted student loan with 2 that are not?
LynnInMN
QUOTE(thashocker @ Jul 12 2006, 07:19 PM) *
How do you consolidate a defaulted student loan with 2 that are not?


On the application you simply listed the guarantor for the defauted loan and their name and address and the same for non defaults, except you will list the servicer.
thashocker
QUOTE(LynnInMN @ Jul 12 2006, 08:21 PM) *
QUOTE(thashocker @ Jul 12 2006, 07:19 PM) *

How do you consolidate a defaulted student loan with 2 that are not?


On the application you simply listed the guarantor for the defauted loan and their name and address and the same for non defaults, except you will list the servicer.



I didn't quite understand your reply. I have been told by every education lender that I have talked to that I can't get it done because, the Univerity was the lender. However that UNIV says that all they want to do is get it off their books, and that they will agree to have it consolidated. Is my confusion jusitfied?
LynnInMN
QUOTE(thashocker @ Jul 13 2006, 09:30 AM) *
QUOTE(LynnInMN @ Jul 12 2006, 08:21 PM) *

QUOTE(thashocker @ Jul 12 2006, 07:19 PM) *

How do you consolidate a defaulted student loan with 2 that are not?


On the application you simply listed the guarantor for the defauted loan and their name and address and the same for non defaults, except you will list the servicer.



I didn't quite understand your reply. I have been told by every education lender that I have talked to that I can't get it done because, the Univerity was the lender. However that UNIV says that all they want to do is get it off their books, and that they will agree to have it consolidated. Is my confusion jusitfied?



If it is a Perkins loan it can be consolidated. Perkins loan originate at the school but are federally backed. Who is the lender??

If it is instituational loan,you cant. Institutional loans would be an internal loan, like from an endowment fund.
thashocker
If it is a Perkins loan it can be consolidated. Perkins loan originate at the school but are federally backed. Who is the lender??

If it is instituational loan,you cant. Institutional loans would be an internal loan, like from an endowment fund.
[/quote]

It was from the Univ of Tenn Chat, she says it was a Perkins, but the institution is listed as the lender. Does this help?
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