Key Bank Loan refinancing

[joepilot29]

Just curious if anyone has been able to refinance their key loan. I have been on the graduated payment plan for the last 2 years and now my payments are going back up.

 

[Flysher]

no luck here, had a financial advisor working on it and she couldnt make anything work either.

 

[No Delay]

I don't have any experience with a student loan...but I had a car financed through Key Bank.

They were by far the most difficult people in the world to work with. I hated every month my loan was with them. Their customer service people were the most hateful people I have ever talked with. And apparently their behavior was encouraged from their supervisors. Everytime I called, I felt like I was talking with a teenager.

I eventually took out another loan to pay it off and get away from key bank. It took me 2 weeks and about 20 phone calls to get a pay amount.

 

[Way2Broke]

If you find a way please let us all know. I have actually thought of paying it off with a balance transfer on my credit card. The intrest rate would be less. I decided to hold off because we are buying our first house soon and I plan to roll it into the house when I refinance in a couple of years. Come on good appraisal.....

 

[Doubleo6point9]

No luck here either. I heard something about some guys down at Ariben in Ft Pierce who were able to refinance their loans but i'm not sure if theres any truth to that or not.

 

[Way2Broke]

Something more to add: Isn't it sad that aviation student loans are not considred "healthy debt" because of the insane interest rates and lack of "working with you." Is there any truth to Key Bank no longer doing aviation loans?

 

[RedBaron1]

"Is there any truth to Key Bank no longer doing aviation loans?"

They are still doing loans for flight schools that are accredited and eligible for Title IV funding. If a flight school does not have any of these, then it is impossible to get any good financing exept through Sallie Mae. Sallie Mae is the only bank willing to lend money to schools that are not accredited.

 

[Pattern-Master]

I have not found anything either. That daily compounded interest is killing me. I had to postpone my payments a few times, but that just made future payments worst. Good luck!

 

[taters]

Talk to a local bank and see what happens.

 

[minitour]

I hate Key........hate.

...if that answers your question.

-mini

 

[Doubleo6point9]

I hate Key........hate.

...if that answers your question.

-mini

Considering the amount of people that share your sediment, I'm kinda surprised that there isn't a website out there called "Ihatekeybank.com" yet

 

[joepilot29]

Well I see I am not the only one who is going to be cash strapped for the next 18 years. Key Bank just seemed to to good to be true at the time. I even qualified for 100k with no cosigner back when my credit rating was excellent.

I guess I am going to shop around the local banks now.

 

[Lazy8]

http://www.nelnet.net will consolidate private loans; however, the lowest possible rate you could get is 8.75%. I'm already floating around that with my Key loan. The good thing about it is the payments are lower because the term is longer. The bad thing is you're paying more in the end!

Last month I payed my minimum of $506 and it covered $1.12 of the principal. Progress!

g

 

[mcjohn]

Man, I feel for ya'll. Between my wife and I we have around $27,000 of pure credit card debt that has been depressing me. Somehow I managed not to finance hardly any of my flight training though. Cheap rating mills are the way to go. Unfortunately I got a private for 12g, instrument for 8g, and then commercial multi with the single add on and CFI that included plenty of time building for about 20g more.....paid most all in cash tips I made as a bell attendant in a fancy hotel. Considering we have $27g in credit card debt, I'd be filing bankruptcy right now if I financed all my flight training. Anyone out there been screwed by those old FL schools that were funneling Key loan money into their charter operations.....geez..only in Florida. Some real shlt heads down there.

 

[Lazy8]

Man, I feel for ya'll. Between my wife and I we have around $27,000 of pure credit card debt that has been depressing me.

Don't feel depressed. It's the American way! :beer:

http://alwayslookonthebrightsideoflife.ytmnsfw.com/

g

 

[mcjohn]

More bummed because of where I have Nada in my profile I'd bet. I'm currently making ends meet as a valet parking cars. Staying in good shape though. I might run a marathon soon.

 

[Lazy8]

More bummed because of where I have Nada in my profile I'd bet. I'm currently making ends meet as a valet parking cars. Staying in good shape though. I might run a marathon soon.

Keep at it bud. This career takes an unbelievable amount of resilience for most of us. Best of luck and don't give up!

g

 

[mcjohn]

Hey man, I'll always fly. Somehow or another!
http://i102.photobucket.com/albums/m81/mcjohn766/Yellowtail.jpg
http://i102.photobucket.com/albums/m81/mcjohn766/Pickup3.jpghttp://s102.photobucket.com/albums/...current=Pickup3.jpg&refPage=&imgAnch=imgAnch9

 

[joepilot29]

It would not bother me too much if I had to extend my term. My payments jump to $947 a month. I figure in 20 years I willl be making six figures as a flight instructor flying once a month.

Just curious who has the highest Key Bamk payment? A friend of mine is on the hook for over 1100 a month.

 

[Princedietrich]

All I can say is thank the powers that be that I went through a university program, those Stafford loans are a lifesaver. I'm lookin at about 260 a month at 4.25% (going to drop to 3.25% after 2 years) but unfortunately that's for the next 25 years. Thankfully, no penalty for early payoff.

Of course, that amount does include the remainder of my college and flight education from several years ago consolidated with the MBA I just finished. Speaking of which, stay AWAY from University of Phoenix. The administration and financial departments are staffed with some form of lower primate that I haven't been able to classify.

Sorry to hijack the thread there. Have a beer. :beer: