Is there any help out there? I want to pay them back, but I cannot afford it.
2007-01-04 04:40:37 · 3 answers · asked by angel b 1 in Education & Reference ➔ Financial Aid
I guess I may have to live in the poor house for the next 30 years or until I hit the lottery. They expect a culinary graduate to pay over $500 a month loans based on a $60k loan. It was a private loan. I'm paying prime+2%. That's the lowest they could go without a cosigner.
2007-01-04 07:25:20 · update #1
How much are your payments? Are you working?
Is there really no way to negotiate a smaller monthly payment until you make enough money to amp it up again? Of course there will most likely be additional interest with smaller payments but you might be able to keep them low until you make more money.
If I were you, I would look seriously at some things where you can cut back. If you don't make loan payments on time, your credit will end up in the toilet.
There were some suggestions in this thread here including loan repayment assistance from govt employers etc.
http://snipurl.com/16l6h
2007-01-04 04:51:06 · answer #1 · answered by ♥ Sono A ♥ 2 · 0⤊ 0⤋
It may not be too late to add a cosigner, if you can find one. A cosigner with good credit could bring the interest rate down, and often you can "release" the cosigner after a set number of ontime payments.
2007-01-04 09:19:58 · answer #2 · answered by Anonymous · 0⤊ 0⤋
Get in touch with the agency pronto...Democrats are to lower the interest rates on school loans during their first 100 days in office, so I hear...
2007-01-04 04:46:05 · answer #3 · answered by Patches6 5 · 0⤊ 0⤋