I have A LOT of SL debt. About $38,000 federal (just consolidated with NelNet), another $38,000 with Citi and about $9500 with Sallie Mae. I paid for half of my expensive, but well-worth it, undergrad, and all of my Master's degree with SLs.

Okay, what I did not realize at 18, 19, 20, 21, or 22 (now 24) was that you CANNOT consolidate private student loans. Even with the original lenders. I went through college thinking, well, first of all, not even worrying about student loans and just racking them off, but also that oh, I can just consolidate them when I graduate.

I thought all student loans could just be consolidated together. Well, THEY CAN'T. And private loans cannot be consolidated AT ALL, so the interest rate can vary on them. %&$^(#*@!$(! I just found this out yesterday when I called Citi and Sallie Mae. And when I thought my payments would pick up again in July, they are starting again in May (good by, spending $$). To the tune of about $700/month. Dammit.

This was my own ignorance, I guess, but you live and learn. I will know now what to do when I go back for the PhD (and I'll actually know enough to do so!). Now, NelNet did tell me that they are trying to come up with a program to consolidate private loans by May, but what do you want to bet that the CSR was just saying that to make sure that I would consolidate with them? Sorry, just needed to vent.

Kris

You can consolidate private educational loans, but don't count on Sallie Mae and Citibank to share that information with you, that would cost them money. An internet search should provide you with plenty of resources to investigate. If you're looking for a FIXED RATE consolidation, yes, you are probably out of luck, but you may be able to get a more attractive rate than you currently have.

Good luck

Thanks--I checked out some options and you're right, although my rate is as good as any out there. Good thing the interest is tax deductible.

Kris