i can barely get by as it is. im a single mom, with 2 kids and have a decent paying job but any more will be our end.
2006-10-20 21:00:32 · 7 answers · asked by Anonymous in Education & Reference ➔ Financial Aid
The first thing you need to do is contact the lender. Request your current status..(default, delinquent). Then ask if your loan has the right to deferment and forbearance. Deferment can be granted for a number of reasons...in-school, hardship. If you can get deferred that is the way to go. If you are denied deferment, then request forbearance. You could be granted forbearance for up to 12 months. The key is communication....if you start ignoring the lender, you're going to wind up in default and you don't want to do that! Call the lender, they will work with you. Good Luck!
2006-10-22 13:26:24 · answer #1 · answered by Anonymous · 1⤊ 0⤋
Have you tried talking to a nonprofit credit counseling group? They will work with your creditors in setting up a payment system and a budget you can live with. They do take a fee, but it is worth it. Also, if you have not done it yet, try for a student loan consolidation, so it would be just one student loan company or organization that you are dealing with. I recommend checking out the fees before signing up with one besides checking out if they operate in your area. There are a number in the yellow pages of the telephone book, too. In addition, do your homework about the organization with the state and the Better Business Bureau before signing up with any organization. Ask for 6 references at least, too.
2006-10-21 04:17:38 · answer #2 · answered by dawncs 7 · 1⤊ 0⤋
One way to keep student loan people away is to pay your loan. Two, look for a better paying job. Also, look into various repayment plans they offered: standard, extended, graduated, and income contingent. This should have been the next step in repaying your loans.
2006-10-21 05:53:50 · answer #3 · answered by sunshine23511 5 · 0⤊ 0⤋
Have you tried to see if your loan people will give you a forebearance-a hardship extension. Also I found a great question and answer site: www.youcandealwithit.com
2006-10-21 01:37:16 · answer #4 · answered by mo_teachr 1 · 0⤊ 0⤋
I suppose you can file for bankruptcy, but understand that your credit is shot for the next 7 years.
2006-10-20 21:10:02 · answer #5 · answered by Kaonashi 3 · 0⤊ 0⤋
Ask for a deferrment. They will give one for up to a year. Or, get back in school and work on your masters!
2006-10-21 13:56:56 · answer #6 · answered by tiffany_willis 2 · 0⤊ 0⤋
If you figure out this answer, I'd like to know also.
They hound you till the day you die, literally.
If you don't pay it, they take your taxes.
2006-10-20 21:03:56 · answer #7 · answered by Anonymous · 0⤊ 0⤋