Questions about Forbearance,etc.!

[Peeshee]

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Hi, I have some private alternative loans through Sallie Mae, and the grace period will be ending, so they told me the only options now are either to start making payments or do a forbearance. They said that deferrment does not exist for alternative loans. Is this true? I also have to pay 150 dol. to have my loans go into forbearance for 6 months.
Also, is it possible to consolidate private alternative loans?
I thought maybe there are other options for private loans, if you are unable to make payments, besides forbearance.
Please let me know. Thanks!

 

[mpp]

Options for private loans are whatever is offered by the lender. You might find a private lender that will consolidate your private loans.

 

[Peeshee]

Yes, I found that consolidation is possible for private loans, but if you do consolidate, you can not do deferment/forbearance, and must start making payments.

 

[mpp]

Look for a different consolidation company. Some will allow deferment.

 

[Peeshee]

Look for a different consolidation company. Some will allow deferment.

I have been searching the internet but can not seem to find any companies that allow deferment for private student loans (from Sallie Mae). Does anyone know any names of companies that have this feature? I will try calling a few phone numbers tomorrow and ask around anyway.
Thanks!