well i have a student loan i have to pay off but wanted to know if there is help out there to help you pay it off i have a job but it seems like i haven't even put a dent in it with the intrest that is tacked on it every month so if there is someone out there with answer i would like to know and one thing i am in canada thanks for your help in this
2006-07-11 04:49:22 · 3 answers · asked by wounderwoman44 3 in Education & Reference ➔ Financial Aid
Consolidation will help a little with the interest rate, but not enough to make it a miracle. Most of what you're paying on is the interest. Payments go towards the interest before it gets applied toward the principle balance. Make higher payments than the minimum payment to help put a dent in it. If money is tight, then you have a few options. You could get a second job(and have no life), you could try decreasing other expenses, like utilities by conserving, you could always move back in with your parents, that would save you money on rent or wherever you live right now, or you can accept the fact that you will be paying off your debt for the next 30 years and most likely pay more in interest than your actual debt. I would try finding a higher paying job perhaps and try conserving utilities and such. I know these are pretty abstract but there isn't much else you can do besides winning the lottery lol. Hope this helps!
2006-07-11 08:05:36 · answer #1 · answered by Josh 4 · 3⤊ 0⤋
See if you can get a consolidation loan at a lower intrest rate. That way you can pay off the student loan and whatever other bills you may have and only have to deal with one payment a month.
2006-07-11 11:54:37 · answer #2 · answered by Ellen M 2 · 0⤊ 0⤋
try this #1800 667 5626 they might help i had all the #. but got read of them when my student loan was paid.
2006-07-11 11:59:35 · answer #3 · answered by powernewfie 4 · 0⤊ 0⤋