Student Loan Debt Killing Me
Posted on
December 28, 2008
at
11:10 am
I only owe $1500 (13% interest - but I hope to pay this off in its entirety - baring that the financialo emergency is over son) on one credit card now - and that's been a recent cash flow problem. However, I have $29,000 (at 135 interest) in an unsecured revolving credit line and $175,000 in student loan debt, plus my car - which is almost paid off now at $13,000. When I graduated from school I had$220,000 in student loan debt. The interst rates are low and I have made the payments every month - but it's like a financial sive. I graduated from school almost a decade ago. It's never ending. What can I do to speed up this process? I pay more in student loan payments than many pay in mortgage payments!
Posted on
January 1, 2009
at
3:41 am
Wow, that is quite the pile of debt to climb over...You might try government help? I don't know if your occupation qualifies but several government positions have an added bonus to help pay off student loans (military, urban teachers, and others).Really, an unfortunate truth is that if your debt payments are just enough to keep the debt's plateaued the only way to make the mountain smaller is to get more income coming in, which means another job (or four).
Posted on
March 24, 2009
at
10:58 pm
What a sad situation. Awhile back I was in a similar bind with credit card debt. Not so much as your debt, but now I'm in it again with student loan debt. I am hoping to work that situation out soon. Help from others on this site and reading blog articles here has helped me learn a better way to manage debt.
Posted on
March 25, 2009
at
1:28 am
I know of plenty of means to help you to make money online in various ways if you're interested! It won't necessarily be much(What you make depends on your location, how hard working you are, and how much time you have to spare) buut! An alternate source of revenue works great & it gives you a sense or relief because once you work out a system online you'll be paying less from your main job and more out of the things you do online. Just send a PM my way if you're interested in some help to make those student loans go away faster =p
Posted on
March 25, 2009
at
9:07 am
interest rate are to high..& u have to face this prob.....
Posted on
March 26, 2009
at
9:21 am
Another thought occurs to me. Have you considered getting a low interest/fixed rate or no interest (introductory rate) credit card and paying off some of the revolving debt you mentioned or the student loan. It might only take off a few thousand dollars but since the payment would be made as a lump sum it might help reduce the principle. Also, if you get such a credit card, please make sure that the interest rate will be lower than your current 13% once the introductory interest rate is over. Best of luck with the situation.There is always a sensible way out. And, I hope that you find it.
Posted on
April 5, 2009
at
11:26 am
See this is why I choose to pay off my student loan debt quick. I would see if there is a way that you could get someone else to buy your student loan debt. Like considate the debt that way the interest is lower. Because 100% interest is way too high. That is what I would do you might be able to have it defered as well. I would call the company and see what they can do for you.
Posted on
April 9, 2009
at
11:58 am
you should seek serious help now. its just so pathetic
pinl Rep Points:
1,610
Posted on
April 9, 2009
at
12:55 pm
How much do you earn, if its not much then try to take some help. Or else target for one debt and start clearing it first with the most possible way out and then go for the other one. I know its simpler said then done but if you dont do something then its going to continue like this only.
|
