I went through school on a Stafford loan as well as a private loan through the university. Finances were tight and payments were missed. The Stafford went into default and was sold, and I've been on good standing with that for seven years. The university, on the other hand, waited until this week to send the loan to collection.
What options are available when a private student loan goes into collection?
Try consolidating your loans. They will put them both together and you will have one payment. You will need to do some research in order to get the best interest rate.
One of my loans was a stafford loan and the other one was a private loan through the college, I consolidated them with no problem. You may want to just do a google search on this topic and call and talk to someone who does this. They will let you know whether it is possible or not. Just don't take the first one you talk to, make sure and shop around for good interest rates.
Good luck
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