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Debt Relief – Insolvency – Bankruptcy Information » Student Loan Help » Student Loan consolidation advice? Where can I get the best one? IM AM LOST!?

Student Loan consolidation advice? Where can I get the best one? IM AM LOST!?

ill make this story short. I was an alcoholic that turned my life around. I had no home when starting school, and a friends place to stay temporarily. I got into Devry and took out some loans to get myself through school, and have a cheap place to stay. I managed to really do good and graduated Summa Cum Laude of my class. (yea i know, but it was a big deal to me). So then I decided to stay and get my master’s with further loans. I graduated Magna cum laude from there. Long story short, I couldn’t get a job at my field, but I took an entry level position at a very popular insurance company (fortune 200 business). I worked my way up, but nothing in my field. I make roughly 30,000 right now with 60,000 in student loans all Title IV. I can’t seem to make my payments because they are too high monthly. I did the math and its about 850.00. I have a house note, and a wife and child now. But I am worried about my future. I have been paying some loans in the amount of about 220.00 a month since i’ve graduated, but when the other loans come off forbearance, it will be hard for me. What are my options. I am so lost. Sorry for the bad grammar, at work and I had to type fast. Thanks for any help.

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One Response to "Student Loan consolidation advice? Where can I get the best one? IM AM LOST!?"

  1. just not that says:
    my advise is NOT to consolidate. It will just restart your payment history (if you have 10 years to pay off all your loans, after you consolidate you will have 20 years of payments now). In the long run, consolidation costs you more money.

    Best thing you can do is to get a second job (and ask the spouse to get one too) and pay as much as possible on your loans to pay them off… and make sure you pass on your new found knowledge (don’t allow your child to enroll at a for-profit school). lesson learned…!

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