How much of my disability check do I half to pay toward student loans?

Question

What is the least amount I can pay on my student laon. I am disabled and can no longer work. I am now paying almost half my income and live in a homeless shelter because of the large payment I make. It is a hardship.

Answer 1

You may not have to pay at all. If you are considered 100% disabled (unable to work), which is usually the requirement for getting disability in the first place, then you do NOT have to pay back your student loans. Read your loan agreement carefully. It will tell you the steps you need to go through to file. Also, contact your lender.

Answer 2

I am pretty sure if you are having a hard time you can the Student Loan Authority and get it deferred or request a forbearance. If you have used all those options up you can then request a smaller payment. They are pretty easy to work with. Good Luck

Answer 3

Talk to your lender about deferrment. Or see if they will lower your payment because of financial hardship. My student loan payment is only $100 per month.

Answer 4

you will have to pay just enough so you can barely eat, pay for housing, and afford gas for driving to work. Only then will it be an acceptable amount. You'll know you're paying enough when you reach thursday and need to beg for 5 bucks for food for the next two days, or when you're paying a month in retrospect for all your utilities and housing costs.