Anyone Consolidated Recently?

SingleWithThree · ‎12-11-2008

So I'm trying to purchase my first home and they want me to consolidate my student loans. When I attempted to get quotes for this I realized that no one is offering this product now.

Has anyone had any luck consolidating their student loans in this mess?

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LynnInMN · ‎12-12-2008

Private or federal loans? I dont think anyone is doing privates right now. Direct Loans is still doing federal.

Ex-Financial Aid Officer

Ex-Student Loan Collector

Anonymous · ‎12-12-2008

As far as I know, Wells Fargo is the only lender offering private student loan consolidation. They don't have a specific DTI requirement but do require min 2 year housing and employment history and it's based on your credit score. good luck!

kimg727 · ‎12-28-2008

Chase is doing private loans and ACS is originating and servicing them for the time being. http://www.chasestudentloans.com/student-loan-consolidation/index.html

DOE is still doing federal loans. http://www.loanconsolidation.ed.gov/

Message Edited by kimg727 on 12-28-2008 01:32 PM

Anonymous · ‎01-02-2009

I got one of those wonderful "you are already approved" letters in the mail from Chase offering a consolidation of private student loans. No details on rates except "variable."

Anonymous · ‎01-05-2009

Will Chase consolidate defaulted student loans?

SCF · ‎01-05-2009

Mike, I don't think anyone will consolidate defaulted private loans. If you have federal loans you should be able to rehab them and then consolidate once they are back out of default.

Anonymous · ‎01-05-2009

Most of my wife's federal student loans are in rehab. The private ones are charged off.

kimg727 · ‎01-05-2009

@Anonymous wrote:
Will Chase consolidate defaulted student loans?

Nope.

Anonymous · ‎01-08-2009

@Anonymous wrote:
I got one of those wonderful "you are already approved" letters in the mail from Chase offering a consolidation of private student loans. No details on rates except "variable."

i got the same notice in the mail. If you turn it over and read the grayed-out fine print (they really don't want you to read it... obviously) it says the range is something like LIBOR+5.99% - LIBOR +10.99%. In my case, it would actually increase my payments.