Sallie Mae is one of them, and elimination of these services as reduced the variety of their customers.
Also with the lack of waiving the origination fee, it makes it more difficult to save money in the future to finally pay of what is owed on their loans.
Sallie Mae has stopped the consolidation of federal loans.
Your interest rate for the consolidation loan will be based on your credit score and, if applicable, your co-signer's credit score.However, this will increase the costs after this period of time for the remaining balance on the loan.ñ extended repayment plan: graduates and undergraduates with more than thirty thousand dollars in loans can extend the time period for repayment to twenty, twenty-five or even thirty years, depending on the amount of balance remaining on the private loans.However, this does increase the costs of the interest rates.None of the loans that you are consolidating together, including your Sallie Mae FFEL loan and any federal Direct Loans, can have an in-school status.You must wait until after your graduation date to consolidate loans through the Direct consolidation program.This is a Stafford or PLUS loan issued with funds from Sallie Mae but backed by the federal government. You can only consolidate Sallie Mae loans issued through the FFEL program into a Direct loan.This is because the federal government only consolidates federal loans, not private loans.You can consolidate multiple Sallie Mae FFEL loans together or you can consolidate at least one Sallie Mae loan with at least one federal Direct Loan.After consolidating, you will make all of your payments directly to the federal government, not to Sallie Mae.Sallie Mae loans come in two major varieties, and the type you have will affect whether you can consolidate your Sallie Mae loan with your federal Direct Loan.The first type of loan is the private student loan from Sallie Mae.