Student loan $874/month

[diane.jsmith]

My husband just finished his Masters in Dec,

 

He had got a loan for about 40,000. in January we received a bill for $250 then a couple months later aces said we now owe $500/month.so i paid that. Then a month ago i got a bill from Nelnet for $250.so i was now paying $750/month. Now just a couple days ago Nelnet now says we owe $374/month.

 

We called and they said we can’t consolidate or defer the payments..

 

Does this seem right?

 

 

[Cap'n Refsmmat]

Aces? Nelnet? So you have loans from two separate loan agencies?

 

If so, I'd urge you to look up the paperwork from when you first got the loans, to see what you agreed to pay.

[mississippichem]

Are they federally subsidized student loans? Those loans have some extra strings attached in exchange for a good interest rate. For example, they are default-proof. There might be some language in the paperwork that prohibits consolidation of the debt. Beware of debt consolidation though, it's not all bad but there are companies that set it up to where once you pay the consolidation fee, you would've been better off paying the interest on multiple loans.