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Debt Relief – Insolvency – Bankruptcy Information » Student Loan Help » Private Student Loan Consolidation, a good lender? I owe over 100,000 need low monthly payments.?

Private Student Loan Consolidation, a good lender? I owe over 100,000 need low monthly payments.?


I recently graduated from college, about a little over half a year ago, I am yet to consolidate any of my loans because i’m scarred to lock in my loans at some outrageous interest, my loans are as follows,around: 29,000 in federal 78,000 in private student loans, which would make my payments unconsolidated around 1500 a month, and i cant make that sort of payment nor I think anyone that has recently graduate can, I want to know if there is any place that i can consolidate both of these loans where I can actually make a payment. I do want to pay but I just cant make 1000 dollar payments every month. I’ve had no help with paying for my school nor from the government nor from my parents. what am I suppose to do? I did a forbearance on my loans but it ends at the end of this month and I still haven’t been able to find a lender that will consolidate my private loans at something affordable. Nor can I find any information on the internet.
wow nothing bust spammers posting….thanks


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2 Responses to "Private Student Loan Consolidation, a good lender? I owe over 100,000 need low monthly payments.?"

  1. A.Mercer says:
    My first piece of advice. Watch out for scammers. There are people out there who will see that you are in trouble and pretend to want to help you. They will have you pay fees or give them all they need to steal your ID. Do not do business with some faceless person from the internet.

    Next up, go to the financial aid office at your school and discuss this with them. Many times, they know exactly what to do but no one ever asks them. They may know of lenders willing to take on your consolidation. They may know of other options that can help you.

    You should also do a tally of your assets. What do you have and can you get any money from it? You need to knock down that balance somehow. Getting a second job is probably also a good idea. It might seem rough but racking up $100,000 in student loan debt in a field that does not pay well enough to cover it was not a bright idea. You need to earn more money. If your field does not cover it then you should get additional income. Working evenings and weekends can help you knock this out some.

  2. Shibani G says:
    Every attempt to consolidate the multiple debts of a debtor fails because the action is not set in a well planned manner. Debt is a serious issue and demands to be dissolving with rational policies, and considering the debt management program is one of such deliberate advice that concentrates to dispose the debts to zero. The earlier steps taken regard them past, and approach for the debt management program for a rewarding and effective resolution. The objectives and principles of debt management program are adopted after assumptions and speculations which can stabilize or aid to rebuild the badly affected financial score in a sparing manner. Tactically and subtly, the policies are fused and carried out in a managerial way to consolidate the single or multiple debts as they are stronghold enough. Being a debtor is not a wrong sign; in order to qualify all the varied financial needs, inadequacy of required finance compels a person to take monetary support in the form of loans. However taking debt is considered bad in the society. Debtors, gradually, go in fix of debt trap due to mismanagement of repayment planning. Considering the fact of the matter, the lending authority has come up with the generous provision of bad debt management. Under the plan, debt elimination process is worked out.

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