My question involves consolidation of private student loans.
I currently owe 44k to Sallie mae with a total of 6 student loans ranging from 6.25 to over 13% interest. I also owe nearly 20k to Wells Fargo in private student loans also.
I Need to know WHERE TO CONSOLIDATE?
There is a plethora of information about "How to compare private student loan consolidation companies" but what companies are these? Wells fargo requires a cosigner. Chase isn't accepting applications at this time. Most sites suggest nelnet consolidation and whatnot, but those sites only deal with federal student loans lended by a provate company, and my signature student loans can't be consolidated with them.
And forget getting any help from sallie mae. I called them and tried to explain my situation. My grace period ends in a month and I have not even defaulted on a single payment, so I was trying to get them to work with me before it became a problem. They don't even consolidate THEIR OWN student loans anymore, nor will they lower my interest rates on any of them. NOR do they even know IF I have a job, much less what it is and how much I make! They just want their money each month, and if I default they don't care.
If I don't consolidate I am facing a HUGE payment of over 700 a month that I cannot afford right now. I looked into debt consolidation companies but they don't seem to be able to help with sallie mae loans because they are government backed. They gave me the option of "settling" with my wells fargo debt but i wasn't really sure what that was and wanted to hold up until I figured something out.
There has to be a solution to this problem. What do kids do that graduate college and are faced with overwhelming student debt and no way to consolidate? Hardly a congratulations for being educated. I work 7 days a week and cannot afford a 700/month loan payment. Am I legally bound to sallie mae for whatever they say?
Any help will be so greatly appriciated!!!!![]()

