Ask The Get Out of Debt Experts Private Student Loans

My Private Student Loans with Citibank and Sallie Mae Are a Mess

Written by Steve Rhode

“Dear Steve,

I am currently in student loan repayment. I have consolidated my federal loans, but my private loans are a mess. I had 4 through Citibank, but 2 of them were “bought out” by Discover. So now I have 1 monthly payment for my federal loans and 2 monthly payments for my private loans. I also have another private loan through Sallie Mae.

Who can I speak to about these loans? A lawyer? Loan officer? Citibank was no help, neither was discover. I am not in trouble yet, but with 5 additional bills monthly its going to get hairy. I already work two jobs and am trying to save up for my wedding. Who can I turn to for help/info?


Dear Theresa,

When it comes to dealing with private student loans at the moment you have few options. You could continue the payment, find a lender to consolidate them into a new private loan, default and try to negotiate, or file bankruptcy if you have a financial hardship and try to get them reduced or discharged.

I’d start first with this guide and that will help you to get headed in the right direction.

Please post your responses and follow-up messages to me on this in the comments section below.


You are not alone. I'm here to help. There is no need to suffer in silence. We can get through this. Tomorrow can be better than today. Don't give up.

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About the author

Steve Rhode

Steve Rhode is the Get Out of Debt Guy and has been helping good people with bad debt problems since 1994. You can learn more about Steve, here.


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