for the Metropolitan Life College Fund loan program. We signed up for it in h.s. and then it turned out to be a cruddy deal--like $l000 fees and costs per semester. Finally canceled it my son's sophomore year and just went with Stafford Loan and grants from then on.

Anyway, he stopped school and now the loans are coming due. The Stafford one isn't too bad--although he can't really afford to pay loans on his salary, handling rent, utilities, etc.

Should he try to refinance the ACS and Stafford together to have one payment? Would ACS report as a student loan--or just a loan. Is the Stafford interest rate as low as you can get on a loan, or is it better to refinance that one too?


Thanks.
Not sure what route to go?

ACS sucks. That is the one loan I defaulted on...they refused to work with me. If you can get a consolidation loan with your staffords from another company, then I would definitely recommend it. Those people were the rudest people I have ever dealt with in my life. Good luck to you.

I did a google search on the Met Life loans and could find nothing. If they are not government backed loans like staffords, you cannot consolidate them together thru the consolidation loan programs. Met Life sounds like a private student loan.

Thanks for helping. It is a private loan company that makes the loans for Metropolitan Life Insurance Company's college loan program. You have to get an insurance company and pay premiums and they link the loan to those proceeds. I stopped payments on the life insurance several years ago, when I realized how high the fees were for the priviledge of borrowing a few thousand dollars per semester.

I tried once to get the cash value out of the policy and they gave me a run around sending me to all these different people. I need to check on that again.

I have to say, there was a wonderful woman working there whom I talked to and e-mailed to. She had reported my son and DH (co-signer) late on the loans when he was supposed to be in a deferred status--we didn't really understand how the whole thing worked. I sort of told her my whole sob story, and she cleared up both of their credit reports.

So what happened when you defaulted?