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Hi Gina

I'm right there with you (almost literally) and I've tried everything there is.

And there is nothing.

Unfortunately, because the loans are already consolidated, you are stuck. There are no-refinancing options available to keep them as student loans.

The only potential option is to transfer the debt from student loan to mortgage debt by taking out a second mortgage (HELoan or HELOC). Obviously you'd need enough equity in a home to accomplish this, may not be able to get a rate below 7 on a 2nd mortgage right now anyway, and must carfeully consider the overall gain if closing costs are involved.

If you are not already aware, you can save 50 basis points by having your payment automatically deducted from your checking account. This will save you some interest.

Also, something else you may already know, but assuming both of your loans are at the same interest rate, any overpayments you make should go to the non-subsidized loan first.

Sorry I don't have better news.

(firmly in the grasp of Sallie Mae)
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