sallae maes scoring criteria??

[Anonymous]

Does anyone know how high my scores have to be to refi a Sallae mae loan? The loans add up to  about 70K. we NEED to refi them, I heard it has to be  at least a 650 score, I hope someone here knows. Spooky

[Anonymous]

I recently called Sallie Mae last week to see about reconsolidation and they said they are not doing it right now, as the economy is bad and that this option is not available anymore. This is in regards to student loans. I hope that is what you are referring to?

[Anonymous]

I didn't think there was a score required for refi on student loans done through Sallie Mae. I refi'd years ago, they never checked my credit, but did make sure that my accounts were being paid as agreed. I've never paid my student loans late, ever! It's not the best time to refi since the rates are a little high. I refi'd for 2.88 in 2005. In 2006, the rate was about 3.10, not it's 6.8 on my grad school loan. Trying to get that paid ASAP!

[Anonymous]

Sallie Mae does not check your scores, but they are not consolidating loans right now. I tried a week or so ago. They said that they have payment plans but no consolidating right now as they are not focused on this with our weaking economy. That is what I was told.

My friend tried to consolidate on this past thursday and told the same thing. I was able to consolidate my undergrad and grad loans years ago at a low rate but now in school, I asked if I reconsolidated all of them and was told they are not doing it as of now. its on hold. So your better off waiting and keep calling or finding another company (a private one) to consolidate. They told me to try my bank. I prefer to wait as I am still in school.

[Anonymous]

Thats interesting?? my daughter keeps getting told by sallie mae that they do check her score ???, hers arent high enough they said.! Thats weird

[Anonymous]

Private or Government student loans?

[Anonymous]

Nope, no new private or federal consolidation loans right now. As far as other companies go, I've heard a 660 min for one of state programs. I would start making some phone calls. 650 maybe okay, but I'm not sure anymore.

[Anonymous]

If they are not consolidating Fed loans- they must have dropped out of the program. Consolidating Federal loans is a right under HEA.

They have suspended their Fed loan programs-

http://www.salliemae.com/after_graduation/manage_your_loans/consolidate_student_loans/federal/studen...

Thank you for your interest in Sallie Mae, the nation’s leading provider of saving- and paying-for-college programs. Severe legislative cuts made by Congress made federal student loan consolidation uneconomical. This, combined with the credit market deterioration, has caused us to suspend participation in the federal consolidation loan program.

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talulah wrote:

Nope, no new private or federal consolidation loans right now. As far as other companies go, I've heard a 660 min for one of state programs. I would start making some phone calls. 650 maybe okay, but I'm not sure anymore.

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