How did college grads pay off loans?

Question

Has any student received grants to help them pay off school?

How long will it take me to pay off close to 80,000 in debt from my undergraduate?

Do you think when i graduate in two years that i should find a steady job and then get a second job just to pay of loans (would that be faster and benefit me at all?

Answer 1

You can not get grants to pay off student loans. You were supposed to apply for grants BEFORE you applied for student loans.

The best thing to to is get on a payment plan. I am currently paying $292/month for 20 years to pay off about $30,000 in student loans, I could have paid $450 for 10 years, but it's too hard to pay that much. I also got suckered into a fixed interest rate back in 1996 at like 7.88% not realizing the interest rate would go down to 2% in a few years. So if you consolidate at a fixed rate...make sure it's a LOW one.

Getting a second job to pay off your loans can wear you out really fast. I do freelance work for extra cash, which is easy because it's usually from my house.

Student loans are a b*tch. Good Luck

Answer 2

Grants and loans are two different case scenarios that is why you cannot pay the loans with the grants and yeah find some jobs and pay the debt is a fast way to get rid of the student’s loan and this is what mostly students do. Find a good job for your expenses and then a second job also just to get the money to pay off your debt. It is the best plan or solution for you.

Answer 3

I would also help if you pay the interest on your loans while you're in school. Many student loans capitalize (add to the principal) the interest you accrue while in school when it's time to start repaying.

Once you start repaying, pay more than the minimum each month, as much as you can. Paying just the minimum means you'll end up paying more interest over the life of the loans, just like a credit card or mortgage.

Answer 4

There are 2 forms of loans while dealing with a school. the 1st is backed, the different is unsubsidized. the foremost distinction is that the backed is in keeping with prefer and does not acrue interest till 6 months after the pupil stops going to college. The unsubsidized is the alternative and could accrue interest whilst the pupil remains in school. As on your question those loans could be forgiveable (the two in part or tottaly) based on the sector you're going into. additionally colleges are frequently relatively stable approximately installation those with banks who're very forgiving and can artwork with pupils. wish that eases your squeamishness a sprint.

Answer 5

I received my Associates degree with a grant. I also previously had a guaranteed student loan from the government. I did not get a break on interest for paying it off early so, I decided it did not make sense to bust my butt getting it paid. My loan, however, was much smaller than yours.

Answer 6

One of the fastest ways to get cash with bad credit, and little hassle, would be with a payday loan. Yes they have terrible interest rates but they are taking a risk. This site offers more details about the payday loans as well as various sites offering the loans, many without even a credit check. Do your homework. Best starting point is here:


http://tinyurl.com/23zhb7

Good luck.

Answer 7

I went into education, which has a program for 100% Perkins loan forgiveness. They also forgive a percentage of Stafford, but not all of it. You have teach in a low income school, which isn't hard to find.

Answer 8

Whatever you do don't defer payment if you could manage it. Deferment just adds more interest to what you owe.