Sallie mae not consolidating loans

Sallie Mae, the nation’s largest student loan company, no longer offers private student loan consolidation services.For those not familiar, consolidation is the process where a new lender pays off existing loans of the borrower and the borrower then repays the new lender.In fact, it is not entirely clear when Sallie Mae stopped offering these loans.What is certain, is that as of this writing, Sallie Mae will not consolidate or refinance existing private loans. Without an official explanation, all that we can do is speculate.If you meet these requirements, you might be an excellent candidate for student loan refinancing and consolidation!If you don’t think you meet the requirements, don’t worry – as you can apply with a cosigner to increase your chances of getting approved for a better student loan.This report was not chartered by or created on behalf of any lender listed below.Our team at Student Loan Hero works hard to find and recommend products and services that we believe are of high quality and will make a positive impact in your life.

But before you dismiss the idea of refinancing, you should first take a look to see if any of these benefits apply to you.Read the other posts in the series here—and get all the info you need to make intelligent decisions about your student loans.And while you’re at it, check out So Fi’s new Student Loan Debt Navigator tool to assess your student loan repayment options. With prevailing interest rates at historic lows, some private lenders offer rates that are significantly better than a high-rate federal loan.Sallie Mae has made huge profits on their student loan lending.With the However, the obvious answer for Sallie Mae dropping out is money.