I know unconsolidation-able isn’t a word, but that’s exactly what it is. I received an email today from Sallie Mae notifying me that my interest rate just went up from 6.8% to 9.25%. WTH! After I tried to consolidate 3 months ago and was told that I couldn’t, then they go and increase the interest rate?
Needless to say, I just submitted a online payment for the balance. Luckily, the balance at Sallie Mae was $4k. Now off to tackle the loans that I was actually able to consolidate. Yuck.
I am still interested in an MBA, but not sure how smart it is to spend $100k+ and whatever interest rate it fancies someone to charge. Getting out of debt just to jump back into it with another $100k ball and chain with no guarantee of a large salary increase or job security is mighty scary.