Well, here's the deal. I have a lot of student loans, and some credit card debt, all from going back to grad school. I had no debt and a good amount in savings before I went to grad school, and now, well.... Today I received a bill for my final student loan going into repayment, and it is not good. Over the last few months, I have barely been able to meet my bills each month. Now, with this new bill every month, my bills officially exceed my income by about $300.00.
SO, does anyone have any great advice - loan consolidation is not being offered in the recession, so that's out! If anyone has been through it, I would LOVE to hear your suggestions. At this point, I basically need a miracle. Anyone have one of those lying around?? LOL. Ugh...
Kim-
ReplyDeleteI am sorry to hear of your struggles. If your loans are serviced by Sallie Mae, they have many repayment options for grad students- Income sensitive, graduated, etc. Please do no give up hope. Be strong.
I am so sorry Kim! I know these kinds of worries can cause such stress. Could you try calling your creditors and asking for a smaller payoff amount? One of my friends was able to get a credit card co to accept a 60% reduction in her total bill-but she had to pay it in one chunk. I don't know if that is an option for you. Or maybe they will work with you and reduce the rates or something? I hope you are able to work something out! ((HUGS))
ReplyDeleteKim,
ReplyDeleteSo sorry to hear about all this. Sorry I can't help, but I will send you blog hugs and pray everything works out for ya
((hugs))
Stacy
There has got to be an organization out there that can help with this type of thing. I don't know anything about student loans in particular, but there is almost always some kind of help. If you absolutely can't get anything of that nature you may have to consider additional work - but luckily with the holidays a lot of places will hire seasonal help. Best of luck to you!
ReplyDeleteOh, if only an extra job were an option!! I get crappy pay at my only job, and I work 6 days a week every week, and have lots of 7 day weeks coming up now for the next several months. I would love having weekends off to work a second job, but I'm stuck!! Ugh....I really appreciate everyone's thoughts and comments!!
ReplyDeleteKim,
ReplyDeleteHope everything is working out for ya, I have an award on my blog for ya! Be sure to swing by and pick it up
Hugs
Stacy
Kim, please look into IBR-income based repayment. This is a federal program, so if you have Stafford loans, any lender should be able to offer you this.
ReplyDelete