Hi all,
I currently owe $20700 on my federal student loans. Just as an fyi, I qualify for the full $20k of forgiveness so until I know for sure what's going on with that, I don't really have interest in paying it down.
My frustration comes from the fact my student loans were transferred from Great Lakes to Nelnet late late year. Previously, my student loans showed as one loan on my credit report $20k ~ (which with interest is still more than the original balance tbh)
With Nelnet, they have for some reason separated out every loan I took into 5 different ones. All of them at 100%+ balance. As you can imagine this looks terrible for credit to have so many open installment loans with high balances. And will also be terrible once interest starts reoccurring (if none of the forgiveness stuff happens)
My question: does anyone know if there is a way to consolidate these loans into one without removing their federal direct loan status?
I'm frustrated because my FICO scores are all around 750-775 but I'm still struggling to get a decent car loan APR due to having 5 installment loans with high balances. If there is anyway I can combine them into one again please let me know!
