I'm new to this site and had a few questions...1.) I have private student loans and am trying to have them consolidated but I've gotten pretty much the same reply from every place, "due to the current economic conditions we are not consolidating private loans." Does anyone know where you can get private student loans consolidated. My loans are not at the wage garnishment stage yet but I fear they are getting close! My debt is in the 50-60k range.

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Dont think anyone is consolidating privates anymore. Are you sure these are true private loans? Do you have federal loans as well?

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I do and have consolidated them all as well. I have two large private loans and they are giving me a headache! I think it should be illegal period for these private loan companies to give anyone a loan!

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If it was illegal, how would you have finished school?

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Fair enough but at the same time how can they offer this kind of money and then back off once its issued to you? They want their money back but offer no easy solution!

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Even when consolidations were being offered for private loans, they were no where near as generous as federal loans....it was more for convience sake. Plus unless you have better credit when consolidating privates the when you borrowed them, you would have been hit with some hefty origination fees and an increased interest rate....most people did not benefit from private loan consolidation.

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