Question by : Is it possible to consolidate my private sallie mae loans with my stafford and perkins loans?
I just graduated school and found out sallie mae had sold off 4 of my loans to the department of education and a company called ACS and instead of paying three seperate people i want to play just one person. So is it possible to consolidate these loans all into one and with who could i do it with?
Best answer:
Answer by Suddenly Human
You can?t consolidate federal loans with private loans. So no. Just put your checking account on the auto payment feature and it won?t matter if you pay one company or three. They will pay out automatically without you ever having to do anything. Consolidation is mostly hype anyway. The rates are not going to be less than what you are getting on those Perkins loans? and any private loan consolidation will do nothing except give the lender more of your money over the long term even if they do give you a better rate because instead of paying back in ten years you pay more interest over 25 years.
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