I am so worried about my student loan debt that it keeps me up at night. I have an appointment with Consumer Credit Counsellors here in BC. I am only working fulltime and I withdrew from a class. I hope I am not in serious trouble for withdrawing as I was failing the class. I guess I will have to talk to them tomorrow. Hopefully, everything will be worked out.
2007-03-12 21:17:32 · 1 answers · asked by bluemoody40 2 in Education & Reference ➔ Financial Aid
I have massive debt from both undergrad and grad studies and I rarely worry much about it. Student loan companies are VERY lenient about things. I was able to consolidate my loans at 3% interest, and whenever I get behind I can call them and get a forebearance and they allow me to take a few months off. I still accrue interest, but at 3%, who cares? On your credit report a small amount of revolving debt (credit cards) looks far worse than a large student loan. Talk to your loan company and be honest with them and they will usually take care of you.
2007-03-12 21:30:49 · answer #1 · answered by baldisbeautiful 5 · 1⤊ 0⤋
The only time you should worry about student loans is when you have default the loan. If you can not pay it they are cool about it, all you have to do is talk to them. I had problems paying mine at the beginning and was able to differ payment for many months by just simply calling them (every month) and sending them a check for a very small amount so that they know I am NOT ditching town and that I am still around. All they are worried is that you decide to disappear. But they do want you to pay it they are just very understanding if you can't and they can work with you.
BTW, I payed up mine.
2007-03-12 23:05:19 · answer #2 · answered by 2 Wheel Dragster 3 · 1⤊ 0⤋
The best thing to do is consolidate your student loans into one student loan. It will go from several payments into one fixed payment with a fixed interest rate. Often, the monthly payment is lower.
2007-03-13 02:04:47 · answer #3 · answered by dawncs 7 · 1⤊ 0⤋