student loan consolidations
are there any lenders that do federal student loan consolidation? not private loans?
Question
What are my options for a defaulted Student Loan?
I lost my job in May and have since defaulted on my student loans (after consolidating & deferring them). My loan origination amount (at the time of consolidation) was a little under $32,000, of which I have paid over $17,000 in payments. Since the default I NOW owe almost $50,000 and am being harassed & threatened by a collection agency. How can this be legal/possible? I feel like I borrowed from a loan shark instead of the government. Any advice/help would be appreciated.
1 month ago - 2 answers
Best Answer
Chosen by Asker
You are correct in comparing Sallie Mae to a mafia like loan shark. You have no consumer rights with student loans: No statute of limitations...they can't be discharged in bankruptcy. Student loans never go away....Sadly, the only solution is to pay them back and get them out of default, or they'll just keep growing like they are now. You aren't alone...check out this website: studentloanjustice ...
Source(s)
by CatDad
1 month ago
Asker's Rating: 