Consolidating a sallie mae loan

Here's what you need to know before deciding to consolidate student loans.

Here are some frequently asked questions and answers that may help determine if it's the right move for you.

In my case 2 parties are collecting almost the same amount and when I asked Sallie Mae they gave me the run around when I asked particulars such as date of disbursement, guarantor, etc.

so I can match up which loan goes with who, SM hangs up on me!

Instead of making multiple payments to multiple lenders, the borrower only has to pay off the new consolidation loan, says Michelle Pezzulli, vice president of operations for Credit Union Student Choice, a student lending service provider in Washington, D.

C."That new loan will have its own interest rate; it will have its own repayment terms; it will have its own terms and conditions," she says.

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