Consolidating sallie mae signature student loans
It’s not always easy to tell federal from private loans on a credit report, but generally a federal loan will say “US Dept.
of Ed” or something similar; while private loans will show up the same way as any other type of unsecured debt.
Once you’ve created your FSA ID, you can log into the NSLDS database which will show a detailed readout of your federal student loans.
However, the NSLDS will show a more detailed view of your loans and provide more data.For other lenders, it’s easier to tell from a credit report whether they are federal or privately backed.For example, the National Collegiate Trust is strictly a private student lender. While those entities also serviced federal loans in the past, as of 2015 they are no longer registered as federal loan servicers.For borrowers looking to settle their private student loans, it’s important to make sure the account you’re trying to settle is not a federal loan; since they rarely settle for any significant reduction.For instance, if you want to settle Navient private student loans, you’d want to make sure that they are privately backed – since Navient services federal loans but also originates private student loans.
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So any student loan you see for Chase, Citi, Discover, or Wells Fargo is most likely a private student loan.