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Problem lowering your monthly payments. i got out of school in XXXX when this company was still sallie mae. My month to month payment have been {$370.00}. They are now over {$400.00}, and with the interest rates rising continuously i am never going to get out of this. They want my parents house as collateral. no bank will touch the dam thing and Ive been threw two bankruptcies due to there people. the interest rate is over 13.5 %. I have contacted them many times about other options or lower payment and they wont budge. What Ive paid in interest and on the loan should have had it paid off already.