Reply
Valued Member
Posts: 62
Registered: ‎08-26-2008
0

Where can I transfewr my PRIVATE SMAE st.loans ??

Desperatly looking for a place to transfer my HUGE loans from SMAE, someone suggested Direct Loans, I didnt think this was possible, that they only help if its FEDERAL Loans. Desperate.
Frequent Contributor
Posts: 465
Registered: ‎06-13-2008
0

Re: Where can I transfewr my PRIVATE SMAE st.loans ??

You can only consolidate federal loans with the Direct Loan program and I am assuming yours are private.

 

So many of the private lenders have left the private student loan lending industry, so consolidating your loan with another company can be difficult.  To achieve any benefit in consolidating your private loans,  your credit basically has to be better than  what it was when you borrowed to get any better interest rate. Also most lenders charge origination fees which can negate any  interest savings.

Ex-Financial Aid Officer

Ex-Student Loan Collector
Advertiser Disclosure: The listings that appear on myFICO are from companies from which myFICO receives compensation, which may impact how and where products appear on myFICO (including, for example, the order in which they appear). myFICO does not review or include all companies or all available products.

Copyright ©2001-2015 Fair Isaac Corporation. All rights reserved.   | Terms of Use | Privacy Policy | Sitemap

IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more

FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.