My name is Teneile. I recently graduated from college. During my last two years of school, I had to use other means to pay for college other than federal grants and loans. ( private student loans). I thought it was a blessing since I didn't know how I was going to complete my education. Well fast forward to present day( 7 months after graduating). I was contacted by my private loan lender 3 month after graduation and was told my payments would be $600.27 a month. I contacted them and was told that since my loans were not yet in repayment status that I would have to wait till they( loans) were. I waited and on June 1 contacted them (Sallie Mae). I explain to the nice lady that I could not afford to make 600.00 payments each month. She told me to wait till the day after my payment was due and call back and we could look at other options. I called back.... Someone answered the phone and told me there was nothing they could do for me. Once I told him I could not make the high payments, he informed me my only choice was to get a deferment ( which would cost an additional $150.00 every 6 months to delay repaying. I informed them I wanted to start paying it back now but can we reduce it. Long story short. Since that conversation I have attempted to consolidate my private loans ( all from Sallie Mae but the interest rates vary and so do the repayment. I can't consolidate because I now have a delinquent loan from them and don't know what to do. I think that Sallie Mae is being unreasonable in the amount and will not give me a chance.
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