Consolidating salliemae loans
They typically have a set repayment plan, and failure to repay that amount send it into delinquency and default.
And since the collateral for student loans is your earnings, the lender could take you to court and get a judgement against you. So, what can you do if you can’t afford your private student loans? If you just want to cut to the chase, basically your best bet is to refinance your student loans and see if you can get a better rate/term/deal.
The challenge with getting a cosigner is that there is huge risk for the cosigner, and many people (including myself) recommend people to never cosign a student loan.
However, if you do get a cosigner, there is a proper way to do it.
Checking your rates and seeing what you might qualify for doesn’t impact your credit score, so give it a try: Credible Refinancing.
Plus, College Investor readers will get a special bonus of 0 when they refinance!
For too many people, they are spending money they don’t have.