Sallie mae not consolidating
Borrowers who are having difficulty with private student loans, from lenders like Sallie Mae and others, have fewer options.Today we are going to take a look at the programs available to private student loan borrowers.Even when consumers do struggle or fall behind, there are numerous resources available, and these resources are guaranteed.If you’re struggling to repay private loans, please be sure to read that section of the article, as it may have the biggest positive impact for you.Many of us know this by now, but it’s worth repeating.We will analyze six of the top student loan servicers and give tips for how to pay off private student loans.
As of February 2015, the post now contains new information about the three lenders that were originally listed here (Discover, Wells Fargo and Sallie Mae), along with details about other big private lenders.
Most importantly, we’ve also added new guidelines presented by the Consumer Financial Protection Bureau.
For instance, all our post originally said about Discover was that “Discover encourages struggling borrowers to call its ‘Repayment Assistance Department.'” We were vague because, well, Discover was vague too.
But times have changed and the student loan crisis, the media coverage surrounding it, and government intervention have worked to create an environment of improved transparency and increased options for borrowers.
Student loans are tough, and they present borrowers with heavy debt burdens after college.But while there are a growing number of options available to consumers, most student loan forgiveness programs and other repayment plans are only available to those with federal student loans.