I have 4 student loans through Sallie Mae for a total of approximately $50k at varying rates between 7 and 8%. My mom co-signed for these loans as well. I began paying back in January 2009 but had to take a deferment when I lost my job in June 2009. I started making payments again I believe in early 2010.
I want to consolidate my loans and hopefully get a lower interest rate as well as take my mom off the loans, but I have a poor credit score (around 614).
Can you only consolidate / refinance once? Also, does the deferment bar me from consolidating?
Thanks in advance for your help!
Starting scores in 2007: sub 600
April 2011 scores: EXP - 662; EQ - 683; TU - 675
June 22, 2011 scores: EXP - 662; EQ - 694; TU - 685
June 29, 2011 scores: EXP -681 ; EQ - 694; TU - 710
Goal: 700+
