Jul 07 2008
Concern about Student Loans
I have learned that I will need to consolidate any other loans together so that I will be able to pay them in one easy payment. Create a financial plan that lists out the expenses that you have in its entirety so that you will be able to see how much those are such as groceries, gasoline, etc. If I find that I have some extra money then I will use that money to pay off my student loans. Extra cash is always a great thing but keep in mind to use it wisely.
One my biggest concerns about finishing school is the high rate of student loans that I have accumulated over time and I do have a complete of how much it will all be when I finish school in the next few months. however I do have a estimate of how much it will be and I wonder to myself in my condition how I am ever going to be able to pay for this? I would love to be able to just go, and obtain a full-time job however due to health challenges that is definitely not a possibility.
2 Responses to “Concern about Student Loans”
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I actually did the same thing. Except I kept two loans at 3.35% interest separate from the higher interest ones. You can do this. They just dont like it and it will save you money.
To give you an idea of payments I owe around $46,000 and make monthly payments of $320. Its painful but I deferred after my six months were up. Defer as long as you can since late payments make it much worse.
Currently deferred. Owe 30k. I can’t even find a job that pays enough. I am trying, but work is scarce. I have 5 kids and a husband out of work too. I have serious medical issues since I was in a car accident, but I would give anything, almost, to be able to earn a decent wage for a decent days work. My rates are 5% and 8%. I have almost 3 different loans. I am paying the full amount on two, even though I am deferred,from child support, and odd jobs. The third one I have paid some on “here and there” while deferred. All totaled I would have to pay 374 a month, but I didn’t consolidate.