Posts: 15
Registered: ‎09-24-2009

DOE vs Sallie Mae Consolidation - Which one is better?

Hi Everyone:

I currently have my student loans consolidated with Sallie Mae and was considering switching to the Direct Loan Consolidation Program with the DOE (to later particpate in the Loan Forgiveness Program).

Does anyone know if there are any advantages/disadvantages to going with the DOE vs Sallie Mae? My goal is to GET RID of the $87K student loan but want to make sure I am with the right lender. I have already paid off my private loan with Sallie Mae and never really had issues with them other than the fact that I cant seem to jack down the principal on this loan even when making double/triple payments.

I have tried the startegy of calling them to apply the extra money to the principal but it still does not work with the daily interest rate accruing. Any ideas of what I can do or if the DOE would be a better choice?


Frequent Contributor
Posts: 465
Registered: ‎06-13-2008

Re: DOE vs Sallie Mae Consolidation - Which one is better?

DOE ...hands down.  More repayment options, more loan cancellation options, better customer service.
Ex-Financial Aid Officer

Ex-Student Loan Collector
Senior Contributor
Posts: 4,243
Registered: ‎05-01-2008

Re: DOE vs Sallie Mae Consolidation - Which one is better?

I've had both.  At least you know the score with Sallie.  DoE.  Their lose. 


I have had a LONG ugly battle (still unresolved) regarding their loan/and reporting practices.  They are part of the US govt...and they are never wrong.  Just keep that in mind when it comes to they contact you and how they report their information.



Starting Score: 07/2011 TU 732 - EQ 717 - EX 702
Current Score: 06/2014 TU 739 - EQ '08 709 - EX 721
Goal Score: 850

Bury me in the garden...last app 06.18.14

myFICO is the consumer division of FICO. Since its introduction 20 years ago, the FICO® Score has become a global standard for measuring credit risk in the banking, mortgage, credit card, auto and retail industries. 90 of the top 100 largest U.S. financial institutions use the FICO Score to make consumer credit decisions.

>> About myFICO
FICO Score - The Score that matters
Click to Verify - This site chose VeriSign SSL for secure e-commerce and confidential communications.
Fair Isaac Corporation is a BBB Accredited Financial Service in San Rafael, CA
FOLLOW US Social Media Facebook Twitter Pinterest Google+