My father took out a large NelNet student loan while I was in my first year of college. I am now 3 years out of college and make enough where I can be paying back the loan myself. I have got his log in and password and have switched auto payments to my bank account but the loan is still on him and in his name.
Does anyone know how to transfer the loan into my name? I am now married, make slightly more money than him, and own our house so I’d think I’d be just as qualified to be responsible for the loan. Does anyone know the procedure? I don’t care if I have to have him as a guarantor or whatever, I just want to make it so its in my name/control and not have to go through him to pay it off (but still keep it at the same fixed interest rate it is currently at which is 4.25%).
You can call and ask the lender, but honestly, I doubt they will do it the way you want. The best you can hope for is a new loan to pay off the old parent loan. Unfortunately this will almost guarantee you a much higher interest rate than the one your Dad has.
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decreasing my balance.
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Or do you have to apply for a Stafford loan directly through the school. I transferred from FIU to MDC. I had the Stafford loan then and was receiving the disbursements just fine. When i transferred I added MDC to my FAFSA. Nelnet says they communicate with MDC but a financial aid rep at the school says they dont. She did not sound so confident though. Does anyone Know?
ALWAYS work through your schools fin aid office. NelNet is an outside company not related to your school. The college can't disclose any info to ANYONE including your parents about your enrollment status, financial aid, etc. without your written permission. Use the schools fin aid office. That is why it is there.
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This is an attempt to collect money for my student loans. In the end I believe my buddy Ron and I worked out a price that is more than fair. Should have it paid off in like 4,229 years. Go to myspace.com/otis69 for more funny stuff, and while your there DO NOT forget to ride my hippopotamus….
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i have student loans through nelnet and sallie mae. both are over $300 a month (sallie mae is 600) consolidated. there is no way i can really make these payments. if i do pay the total a month for one and only a portion of the other can they still report me even if im paying them?? i have tried everything and cant get the payments lower
Immediately call sallie mae There are many types of deferements you can get through them to make lower payments or even pay nothing. For example, are you working less than 30 hours a week, is your income low, does your student loans exceed more than 4 and up to 25 percent of your income etc. call immediately to see what they can offer you