How can I pay for my student loan when I already live paycheck to paycheck?

Answer 1

you can request that your loans be deferred. they can usually defer them for one to three years, so you can have time to get your feet under you to be able to make the payments. you can also ask them if they will work with you on the monthly payment amount. they may be able to let you pay a smaller amount each month.

Answer 2

When i was younger and my student loan was stressing me out, I found the loan foks to be very flexible with terms to help me get by at that time. Forgiveness of accrued interest ect. was very helpful. Without sounding crass, you might consider another job that pays more. Unlike my generation whoose student loans were insignificant compared to the amounts your generation is repaying. Remember, the government secures these loans and the default rates are pretty high so they will work with you in order to secure a repayment schedule you can live with.

Answer 3

Talk to the student loan people. Tell them your circumstances and see what they can do to help you. I'm basically in the same boat. Budgeting what little money I have helps. I pay my bills first and food and goodies comes after that. Also, I hope you've talked to them about locking in the interest rate since they are going up as of tomorrow.

Answer 4

if you have a lot of personal debts, you must find a way to pay them off quickly, and then think of taking a student loan. You shouldn't start professional life with another debt (sometimes quite high!)... and, don't take any holidays, especially not on credit! Stop smoking and going out to bars and restaurants, and you'll end each month with nice additional money to regularize your situation, and start your studies with a healthy situation.

Answer 5

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