Is it possible to negotiate your student loans? say from $30k to $20k?

Answer 1

The student loan people (if you got government loans and not bank loans) are good about working with you to make your payments managable until you can afford them. (You can even not pay anything for a while, if you promise to pay in the future.) They can't just write the money off though.

Answer 2

Yes. To find out how, talk to a loan manager at the bank.

If you haven't taken out the loan already, you can also ask a financial aid consular at school for some help. I would also recommend looking into some scholarships. After all, why pay for something you can get for free? Go here http://collegeboard.com/student/pay/
They have lots of useful tools for scholarships and loans and other college related things.

Answer 3

Not if they're backed by the government. However, talk to the loan owner (bank or finance company) and see if they have a hardship program that will allow you to either reduce or defer your payments for a period of time. Just remember, interest will continue to accrue during this time, so the sooner you start making payments again, the better.

Answer 4

they have not got any incentive to diminish the cost or settle through fact the debt is certain against default. the only "authentic" gadget to combat lower back against the student loan businesses is to report for financial ruin thirteen. that's the version of BK the place your debt is paid lower back decrease than a court supervised repayment plan...it may positioned the brakes on their intense expenses, interest and notoriously undesirable checklist protecting.

Answer 5

you borrowed the money, by law you need to pay it or they garnish. They will not fudge on the principal, they may extend the life of the loan to lower the payments.