Private Loan Consolidation - What are my options?

Talk about various private student loans and how they can assist you.

Moderator: Financial Aid Guru

Private Loan Consolidation - What are my options?

Postby chatty06 » Mon Jan 18, 2010 10:59 am

Hello, I have a very large private loan (80,000) that will be finishing the graduated plan this march. The new payments will be almost $800/month! It looks like the only option I have is Wells Fargo. What can I do if Wells Fargo doesn't accept my loan consolidation request? It looks like all other options are not available at this time. These new payments will be to large for me to manage on a monthly basis. I have used all of my deferment and forbearance. What are my options here if Wells Fargo doesn't work out? Thank you for your help
Posts: 1
Joined: Mon Jan 18, 2010 10:51 am

Re: Private Loan Consolidation - What are my options?

Postby kristinem17 » Tue Jan 19, 2010 12:22 pm

Unfortunately, a lot of lenders have pulled out of the private student loan consolidation market. You are right in that Wells Fargo is one of the only companies doing private student loan consolidations. Unfortunately, I am not really sure what other options you have. I would apply with Wells Fargo first and then see if you need to worry about other options.
Student Advocate
Posts: 250
Joined: Mon Sep 28, 2009 7:34 am

Re: Private Loan Consolidation - What are my options?

Postby Stuartthomas » Thu Aug 12, 2010 10:28 pm

i know a few of them but i am not sure they still do a private loan consolidation..just check them out..
Chase Private Consolidation Loan
NextStudent Private Consolidation Loan
Student Loan Network Private Loan Consolidation
Graduate Student of Financial Aid
Posts: 63
Joined: Wed Jul 07, 2010 4:45 am

Re: Private Loan Consolidation - What are my options?

Postby ejacobs » Tue Aug 17, 2010 7:56 am

Chase no longer performs consolidations... and the Student Loan Network partners with Wells Fargo for that consolidation product.
Student Advocate, The Student Loan Network

Check out the Student Loan Network Official Blog for the latest in financial aid news and tons of helpful, informative posts.
Student Advocate
Posts: 530
Joined: Fri Feb 05, 2010 10:07 am

Re: Private Loan Consolidation - What are my options?

Postby jumbo2010 » Thu Mar 17, 2011 4:09 am

The act of combining several loans or liabilities into one loan. Debt consolidation involves taking out a new loan to pay off a number of other debts. Most people who consolidate their debt usually do it to attain a lower interest rate, or the simplicity of a single loan.
Posts: 6
Joined: Mon Apr 12, 2010 5:44 am

Re: Private Loan Consolidation - What are my options?

Postby nasirhosain05 » Sat Jan 26, 2013 5:10 am

I was in debt for over 6 months and was living from one payday loan to another. I couldn't take it anymore. I learned about consolidating my loans but was hesitant because i know there are a lot of scams going on. Luckily one day i got a voice mail from Be Free Financial, they left a number and i called them. It was heaven sent for me. I called them and spoke to Summer, she was very helpful and helped me understand what i was getting into. I signed up with their program and look at me know, after 4 months I'm TOTALLY DEBT FREE like what Summer promised. They took care of everything for me. If you are in the same situation as i have been call them at 209-217-0373, they will find a program that would be perfect for you.
Phone Number: 209-217-0373
Posts: 1
Joined: Sat Jan 26, 2013 5:01 am

Return to Private Loans

Who is online

Users browsing this forum: No registered users and 1 guest