I need to look into another lender so I can get some extended terms on my $73K loan. Sallie Mae offered me lower payment now, but in two years they would go up ot $975 / month. I rather keep it as close as to the current $675 in two years.

thoughts?

I am basically wanting to lower my payment to a reasonable $400 or so without the loan balloning another $10K++ in interest costs ...

thanks

(I'm assuming this is a federal consolidation loan.)
What is your interest rate? Is it variable or fixed? What is your loan term? Is this one loan or more than one?

I talked to sallie mae today and they said they couldn't consolidate b/c one loan was subsidized and one loan was UNsubsidized. Any ideas?

They said I could look at payments tied to income.... I will have to research that...

$55K between subsidized and unsubsidized.
$675 / month
9 years left.
Total payments will be about $77K with interest.

Goal? To bring payment down to about $400.....help my cash flow and hopefully buy a property this year.

I am ok paying the $675 now, but once I have to start paying a mortgage payment it will be higher then current rental paymnet, so have ot cut $$ here and there; AND the student loan is the largest bill I have now..

thanks

Time for a reality check. If you cannot afford the payments on a student loan, you cannot afford a mortgage. If you loan is not consolidated already, and using an 6.8% interest rate, you interest is in EXCESSS of $400 PER month.

You have a rehabbed account. The terms for the note were 9 years. You can consolidate, what SM is telling you is a load of horse poop. However even with consolidating you are going to have hefty payments. You need to play around with the student loan calculators on the DL site.
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My suggestion is put off getting a mortgage and work on paying down this debt. I believe this is a FFELP loan you rehabbed, so it is quite possible that your original lender is still reporting negatively on your CR. Work on getting this puppy under control before you take on more debt.

I agree with Lynn. I asked your interest rate basically to give you some numbers to help you wake up.

Without an interest rate I can't give you those numbers.

If you want extended terms you need to consolidate. If Sallie Mae says you can't consolidate with them, that doesn't mean you can't consolidate with another lender.