Student Loan Hell.

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Hello NT,
Do any of you have student loans private and federal? Were you able to talk them down to an affordable monthly payment? I know federal student loans are more flexible but my private student loans ( from Sallie Mae) are just unreasonable. Does anyone know how to consolidate them to an affordable monthly payment? Please let me know what your experiences have been.

Thanks!
 
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Joined Dec 4, 2003
my monthly payment...is totally unreasonable. Best i was able to do was stretch it out, but i'm still paying $400 plus per month, which is crazy.

I though Obama was gonna do something about these things
 
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I would kill for $400 a month... and i know man. I guess its not first on his priority list.
 
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The crazy thing is, I don't mind paying them back, but $400 a month is unreasonable, if I was only paying $200 per/ month, the other $200 could stimulate the economy Obama.

Addtionally I'm a Government Employee, It shouldn't be unreasonable for my loans to be excused!
 
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Private loans are the worst. I've managed to avoid them. Honestly I don't think there's much that can be done. Consolidating your loans will definitely be a better look though.
 
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the problem with loans is you're only paying the interest... and that will only take you longer to pay off in the end... with that being said i hate paying student loans but i guess i have no choice 
 
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There has to be something we can do guys lol... I cant believe no one knows how to get the rate lower...
 

ohdannyboy

Banned
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After I graduate I plan on teaching in the public school system here. Once I do that for two years, my loans will be forgiven
.
 
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Honestly, forget consolidation.  It's only going to extend the pain even longer.  Your best bet is to get a 2nd job on the side and use every penny you can to knock them out.  Otherwise, you're going to be paying your loans back by the time your kids are ready to go to college.
 
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Originally Posted by ohdannyboy

After I graduate I plan on teaching in the public school system here. Once I do that for two years, my loans will be forgiven
.
please explain.
 
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Originally Posted by jdizzle75

Originally Posted by ohdannyboy

After I graduate I plan on teaching in the public school system here. Once I do that for two years, my loans will be forgiven
.
please explain.
I thought it was 10 years?  I read about this somewhere.   
 
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Originally Posted by crcballer55

Honestly, forget consolidation.  It's only going to extend the pain even longer.  Your best bet is to get a 2nd job on the side and use every penny you can to knock them out.  Otherwise, you're going to be paying your loans back by the time your kids are ready to go to college.
I'd pay them back for the rest of my life if I can get them lower.
 
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Originally Posted by ohdannyboy

After I graduate I plan on teaching in the public school system here. Once I do that for two years, my loans will be forgiven
.
Seriously?  Can it be any grade?  I wouldn't mind being a teacher for 2 years to get my loans paid off, sounds
...
 
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im pretty sure you have to get a teaching credential to be a teacher in the public school system and that wont work with private loans.
 
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There are "loan forgiveness" options out there for those that pursue careers in areas such as teaching (generally in urban areas that are lower performing) nursing, social work, etc. The amount of years one must work in these fields vary, and from what I understand the amount of loan forgiveness can range from 40 percent to 100 percent of your loans.
 
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Originally Posted by jdizzle75

Originally Posted by ohdannyboy

After I graduate I plan on teaching in the public school system here. Once I do that for two years, my loans will be forgiven
.
please explain.

this man comes in droppin some "thank you based god" post and doesnt even follow up...

COME ON, FAMBS... WE NEED ANSWERS.

 

ohdannyboy

Banned
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Joined Apr 5, 2010
Originally Posted by mikejs210

Originally Posted by jdizzle75

Originally Posted by ohdannyboy

After I graduate I plan on teaching in the public school system here. Once I do that for two years, my loans will be forgiven
.
please explain.
I thought it was 10 years?  I read about this somewhere.   
Antoekneeo summed it up. And like op said, you have to get a teaching credential. Indianapolis Public Schools suck big time, in order to retain quality teachers, they're offering incentives in the form of loan forgiveness. It won't be easy, but the payoff will be worth it. And of course, this doesn't apply to private loans. 
Edit: Just figured out what your sn was, ANtoeKNEEo, Antonio. Still second behind mycoldyourdone tho 
 
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There is a program like that in NC. ITs called teaching fellows or something like that..I think you have to be taking elementary education and teach for 4 years and they will forgive your loans.
 
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Damn, I thought those figures were low. Yall are gonna be paying off loans for the rest of your lives with those payments. I'm about to start paying mine off in a couple weeks even though interest doesn't start accruing until November, but definitely plan to pay them off sooner rather than later.
 
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on the same boat, my parents are paying just to keep the interest down..
i have both fed and private loans.
the fed ones aren't bad, the unsubsidized keeps accruing interests but both don't have to be repaid until 6 months after.

the program that I know of is teach for america, you have to teach in a public system and for two years, they system will pay for the interest totalling 10,000 dollars or so.
hopefully the economy is in better condition by 2014, I'm an accounting major and going for that CPA. or the end of the world happens. or some miraculous economic turnaround, where the government gives us money.... doubtful.

anyone else looking at being around 50,000 in debt by the time they graduate?
 
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I thought the President passed a law saying so your payments could go over 10% of what your income is?
 
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