Monday, December 28th, 2009
is ther relief for student loan debt?
matia782000 asked:
is there any relief for student loans. I own about 30k in private student, and about 50k in federal. This is too much. I keep seeing adds for removing, or lowering mortgage or credit card debt. Is there anything like that for student loans. I owe over 80k. I have tried consolidating, they wont let me do my private. With the loans combined, I am paying over 40 to 50 percent of my pay check. I have to keep putting this into forbearance, because I can not afford the high monthly payment. Is there a financial counselor that I can talk to.
is there any relief for student loans. I own about 30k in private student, and about 50k in federal. This is too much. I keep seeing adds for removing, or lowering mortgage or credit card debt. Is there anything like that for student loans. I owe over 80k. I have tried consolidating, they wont let me do my private. With the loans combined, I am paying over 40 to 50 percent of my pay check. I have to keep putting this into forbearance, because I can not afford the high monthly payment. Is there a financial counselor that I can talk to.
December 30th, 2009 at 9:51 am
Other than forbearance, there isnt relief- that is the relief they offer. Sorry to say! Some positions do have loan forgiveness after so long- in my field (education), after 10 years they forgive your loans with good payments until then. Its usually in high need fields like teaching, social work, nursing, etc. You can go with bankruptcy- but thats not a good idea leaving you in bad credit and still payments.
Otherwise, you can go back for a better degree and then hope for a better paying job.