Private College Student Loan

I have two Sallie Mae student loans that I will have to pay. Does that mean I'll repay both of them monthly?

I have one at 6K and one at 7K, and I graduate this year. Does this mean that I will have to make monthly repayments of both loans, or do they compound on one another so that I pay one? For instance, which scenario would I have to do: 6K repayment of 120/month + 7K repayment of 120/month or 13K repayment of 120/month

Public Comments

  1. What you'll probably end up wanting to do is consolidate them, so then all of your loans go together and you pay one payment to cover it.
  2. If they are both subsidized stafford or both unsubsidized loans they will be in one payment. If they are different kinds of loans, you can consolidate them easily into one payment anyways. Contact Sallie Mae after graduation to talk about specifics
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