Private College Student Loan

Consolidating Sallie Mae student loans?

I have a bunch of small loans under one account number that accumulated to $34,240.15 That's the exact amount I currently owe including interest and principle. My interest rate is 11% and that's a variable interest rate. My monthly payments are $462.19 which is too much for me to pay. I also have smaller loans from a few other companies but it all adds up with rent. So, is there anyway that I could consolidate these sallie mae loans and get a lower monthly payment and/or lower interest rate? I am on 15 year payback term. Perhaps a simple 30 year would be best. on their website it says due to the economy they're not offering the service...lovely.

Public Comments

1. yes, just call them or go online and do it.
2. They do offer that service. Just call them up and ask to consolidate your loans. I have loans through them and I've already consolidated what I will have. I've got about $16,000 now and I'll be paying around $163 a month or so (this is over a 30 year period however).