who knows about student loans?

Question

I have a $37K right now and my monthly fee is $376, which i can not afford. Im scared to call the phone numbers I was given b/c I'm not sure if they may or may not try to pull a fast one on me. Is there anyone out there that can help me or give me advice on true help with no "catches"?

Answer 1

Well, more information would have been helpful. Is this a federal loan or a private loan?

Either way, you should not miss any payments as that will whack your ability to secure credit in the short and near future. You should contact your lender to discuss any options you might have to refinance or work out a different payment schedule. Sometimes you can do tiered payments that scale every couple of years in the hopes your income scales proportionally.

You might have to make life choices to work around the situation such as cancelling your cell phone, cable, etc. It might sound like a bad thing, but ruining your credit is far worse.

Answer 2

you should go talk to a financial aid or counslor at a high school or college, you should just call those numbers, what fast one can they pull? you need to talk to them, maybe you can set up a payment plan thats lower then that they will just extend your payments lets say its at 37k and u pay 376$ for lets say 8years they are just going to extend that to about 12years and you will pay less monthly. you get what im saying? work something out with them? if you dont whats the consequences? sounds like you better find a job! if you call the least they are going to do is talk to you, theres no way they can pull money out of your account or from you through a phone so you have the least of that to worry about. just dont give them any personal information until you are comfortable with whats going to happen and what they are talking about

Answer 3

If you dont have bad credit, it would be an added advantage.Students who are looking for a bad credit student loan should pick three schools they are most interested in, talk to the admissions office, and ask what is needed to apply in their school.A bad creditdepending on whether you are a homeowner or not. The rate of interest to be paid on unsecured bad credit student loans is higher than that on secured bad credit student loans. This is because the secured bad credit student loans are backed by your home as a security.

Answer 4

if you are or were still in school then you do not need to be making payments as you are a student. If you already graduated you may want to look into enrolling in your local junior college so you can defer the loans.

Consolidating the loans may help you also, if you go to http://www.studentsandcredit.com/LoanConsolidations/
you'll find some information about student loan consolidations.

Answer 5

$376 on a $37,000 loan is cheap. You can get deferrals, but I'm not sure what all of the requirments are. Join the military and you can get a deferral for 5 years and they may even pay them off for you depending on what MOS you have and how long you sign up for.

Answer 6

You've gotta defer the loans, then consolidate with a third party company to reduce the monthly payment. I'm sorry I don't have better details, I haven't begun to repay my loans yet, but my girlfriend has and her payment is down to around $160 a month, so it can be done. Good luck!

Answer 7

There are many student loan consolidation but all are not good. Always go to them who are legitimate and are BBB online registered. They can reduce the rates by 2% and also lowers the payment by 50%.
To know more you can visit
http://www.easystudentloanconsolidation.blogspot.com

Answer 8

Dont be scared to call a number.

Get a hardship deferral. During that time, make payments anyway, or the interest will kill you.