topic Re: B4 SL hits CR in Student Loans

B4 SL hits CR

StartinOver — Wed, 16 Mar 2011 03:30:51 GMT

My college did not ask who I wanted my loan with like my other schools did. Now I have 7 at OSLA and the 2 new ones will probably be Sallie Mae, which I did not choose (got their email today). Do we no longer get a choice? I don't want to consolidate, but need them all together for when I need them reduced according to income.

Re: B4 SL hits CR

Tazman81 — Wed, 16 Mar 2011 14:37:22 GMT

To my knowledge, it doesn't matter if your federal loans are with seperate lenders, you can still do an IBR plan for all of the lenders. It may be a little harder to track as you would have some payments going to 1 lender, and other payments going to another lender.

Yes, you still have a choice. Many college have "parternered" with certain lenders and that is who they normally use (unless you state otherwise). When you signed the promisary note, it should had the lender listed. If the funds have been dispersed (but not used), then you can ask them to send them back and use the lender of your choice for the loans. If the loans have been dispursed and used (i.e. you have already started a semester/term) then they may not be able to do this. You should contact the business office immediately to speak with thema bout this.

Re: B4 SL hits CR

laz98 — Wed, 16 Mar 2011 19:05:02 GMT

@Tazman81 wrote:
To my knowledge, it doesn't matter if your federal loans are with seperate lenders, you can still do an IBR plan for all of the lenders. It may be a little harder to track as you would have some payments going to 1 lender, and other payments going to another lender.

Yes, you still have a choice. Many college have "parternered" with certain lenders and that is who they normally use (unless you state otherwise). When you signed the promisary note, it should had the lender listed. If the funds have been dispersed (but not used), then you can ask them to send them back and use the lender of your choice for the loans. If the loans have been dispursed and used (i.e. you have already started a semester/term) then they may not be able to do this. You should contact the business office immediately to speak with thema bout this.

DITTO!!! when you go through the process of getting your loans approved, & deciding how much you want to accept, you get to choose your lender. originally i was using chase, until my school decided they didn't want to work with chase anymore. so now some are with sallie mae. ultimately, though, i manage all of my student loans (except for one!) with sallie mae.

Re: B4 SL hits CR

StartinOver — Fri, 18 Mar 2011 04:02:51 GMT

Yes, in the past they always gave me a choice when I signed in person the note. This was an online signature and I never read anyything anywhere about who was chosen. Thanks, I'll call them.

Re: B4 SL hits CR

laz98 — Fri, 18 Mar 2011 04:09:35 GMT

i've never had to sign one in person!