<prompt> Human: So I did not get any Financial Aid or scholarships during my undergrad degree. So currently I owe a boatload of money to sallie mae, with all of their terrible interest as well. I had an idea of maybe getting a loan from my bank to pay off sallie mae, and just be in debt to my bank, since I may get better interest with them and there are probably benefits of doing most of my stuff with one financial institution. Is this a good idea?  <response>: This isnt going to work.Your Sallie Mae loans are likely at a 10, 15, 20, or 30 year repayment term. A bank isnt going to give you something that long for a personal loan. Theyre also not going to give you a personal loan at a favorable rate, especially if youre straight out of college with nothing to back the loan.If anything, you need to consider consolidating some of your debt, especially if that rate is private debt. Taking out a personal loan at the bank isnt the answer IMO. 