Ok here's the story
I got my undergrad degree in 2002. I had $40,000 in loans. I paid monthly never a problem. I filed bankruptcy in 2005 but obviously kept my loans. I am now graduating from my Master's Program in August. I will add another $25,000 in loans. My $40,000 is almost all consolidated with direct loan servicing. I have $8,000 in a key bank loan that wouldn't consolidate. Now I have this $25,000 from Sallae Mae. What is my best bet to get everything consolidated and a reasonable payment? I am a teacher, so even with my degree, I only get a $3,000 increase. Thanks a ton for all the help!
John Shoemaker
www.mrshoemaker.com
Full Version: Graduate in August
Consolidate with Direct Loans would be my 1st guess.
The private loans you'll have to pay off by themselves.
The private loans you'll have to pay off by themselves.
Can Sallae Mae loans consolidate into direct or no?
QUOTE(John S. @ Apr 10 2007, 07:03 PM) 
Can Sallae Mae loans consolidate into direct or no?
Yes.
Will I have a problem consolidating into my direct loans because of the bankruptcy? Will they have to pull credit and stuff? I have a pretty good interest rate now with my direct loans; I'd hate to lose that if I reconsolidated.
QUOTE(John S. @ Apr 10 2007, 07:20 PM)
Will I have a problem consolidating into my direct loans because of the bankruptcy?
No....federal loans are not credit based.
Will they have to pull credit and stuff? I have a pretty good interest rate now with my direct loans; I'd hate to lose that if I reconsolidated.
Your new interest rate would be a weighted balance of what you currently have.
No....federal loans are not credit based.
Will they have to pull credit and stuff? I have a pretty good interest rate now with my direct loans; I'd hate to lose that if I reconsolidated.
Your new interest rate would be a weighted balance of what you currently have.
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