Federal loan consolidation question

[Sukhoi]

No papers I have ever received have ever said anything about who the lender is for my loans. I have three years worth of subsidized Stafford loans. Yet the online app won't let me consolidate without knowing the lender...

 

[CycloWizard]

Check Sallie Mae. I ran into this same problem a couple weeks ago... Make sure you get it done before July 1!

 

[Sukhoi]

Originally posted by: CycloWizard
Check Sallie Mae. I ran into this same problem a couple weeks ago... Make sure you get it done before July 1!

How do you mean check? Call them? I got them to come up on the lender search but I don't think that necessarily means it's my loan company.

 

[axelfox]

Originally posted by: Sukhoi
No papers I have ever received have ever said anything about who the lender is for my loans. I have three years worth of subsidized Stafford loans. Yet the online app won't let me consolidate without knowing the lender...

that's weird b/c my loan consolidator knew everything re: my loans.

 

[Sukhoi]

LOL so I call their phone number and it tells me to call later. Fvcking government.

 

[sandmanwake]

https://www.studentclearinghouse.org/secure_area/loan_locator.asp

 

[Sukhoi]

Got through on another phone number. Turns out my lender is the U.S. Department of Education. :roll: Why couldn't my account info online just say that?

 

[Sukhoi]

Originally posted by: sandmanwake
<a target=_blank class=ftalternatingbarlinklarge href="https://www.studentclearinghouse.org/secure_area/loan_locator.asp"><a target=_blank class=ftalternatingbarlinklarge href="https://www.studentclearinghouse.org/secure_area/loan_locator.asp">https://www.studentclearinghouse.org/secure_area/loan_locator.asp</a></a>

Heh that thing just says I have the William D. Ford loan, which I guess is a subsidiary of the U.S. Department of Education. It's stupid that searching for William D. Ford doesn't bring up anything on the loan consolidation website.

 

[Rumpltzer]

Marked for later.

I have the link on my PC at home. The Department of Education Web site sucks, but it'll get you the info you need.

 

[white]

direct loans?

 

[gar3555]

mine are through Sallie Mae and direct loan, they must be popular

 

[dullard]

Originally posted by: white
direct loans?

Yep. Thats the answer. It is written all over your papers I bet. Although, I admit, I was confused at first when I consolidated. If its a subsidized Stafford loan it is probably Direct Loans. As you consolidate, type that in, and it'll give the same address/phone number that is in your paperwork.

 

[alkemyst]

Originally posted by: Sukhoi
No papers I have ever received have ever said anything about who the lender is for my loans. I have three years worth of subsidized Stafford loans. Yet the online app won't let me consolidate without knowing the lender...

That's odd...I came from a mortgage career prior to college, but my stafford's listed a lender back in the early 90's and then again in the late 90's on round 2.

 

[Rumpltzer]

Originally posted by: dullard

Originally posted by: white
direct loans?

Yep. Thats the answer. It is written all over your papers I bet. Although, I admit, I was confused at first when I consolidated. If its a subsidized Stafford loan it is probably Direct Loans. As you consolidate, type that in, and it'll give the same address/phone number that is in your paperwork.

Yeah, my Ford Loans (and most of my other loans) were through Direct Loans and I was confused about the situation as well.

Direct Loan Servicing Web site

I used Direct Loans consolidation services. I called Sallie Mae (who I also had loans with), and they had the exact same consolidation deal. I used Direct Loans because all the snail mail SPAM I was getting from the other official looking companies scared me.

Again, that FatWallet thread on loan consolidation is very useful.

 

[alkemyst]

Remember you can sometimes only consolidate once.

If you think you will be taking out more loans, ask first and see what the current policy is.

 

[Sukhoi]

Yeah I got it all sorted out. The thing that was really confusing me in the first place was that if I put Direct Loans into the search thing to bring up the correct address, it wouldn't find a match. It also wouldn't find a match for anything related to William D. Ford.