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You won't have to run to Mexico. In my case they simply started garnishing my tax returns. Still doing that, actually.
Well it's that time for me; my lenders are ready for me to start paying back my loans. At this point I have over 40K in loansand they are wanting close to $500.00 a month. Not only is that ridiculous, it's impossible for me at the moment. Doing that would have me living paycheck to paycheck and even using some of my savings each month.
I know most posters here went to, graduated from, or are still in college. For those like me, who were not fortunate to have their parents pay for them, what did you do in regards to repayment? Defer until you made more money? Go into Forbearance and solely pay the interest? Not pay and run to Mexico? I'm just curious and wanted to get others input before making any big decisions.
EDIT - I'm at a good company now, and have lots of opportunity to advance in the future, but at the same time, this is my first job after college, and they are paying me accordingly.
You won't have to run to Mexico. In my case they simply started garnishing my tax returns. Still doing that, actually.
never had this problem tbh thanks to the GI bill. good luck though
I was under the impression that not paying tarnishes ones credit?
Thanks man.never had this problem tbh thanks to the GI bill. good luck though
I didn't have loans but my wife did (does). She was in the same boat as you're in. She was able to refinance all her loans and stretch out the term to 30 years which dropped her payment considerably. Granted this was in the late 90's before all the financial BS, so banks/SallieMae/whomever might not be as eager to do loans like that now as they were back then. Still, I'd look in to that before doing anything else. Definitely a better way to go than forebearance.
Good advice, I'll look into that. Thanks
I think you can call and let them know what you are making. They may be able to help bring the payments down.Good advice, I'll look into that. Thanks
Also, If I were you, as soon as I started making more money make these loans your priority to pay off. Don't buy a house, don't buy a new car, don't get a credit card, just pay them off as fast as you can.
Good luck. Student loans are a scam. College is a scam. I borrowed about 40k and it's gotten to about 50k to 53k because of interest. Haven't been able to pay for hardly any of it. I recently was able to do something where I can temporarily pay a small monthly payment like 25 or 30 dollars a month. These college loan collectors have no soul. Honestly, I would love to just go to some foreign country that didn't have extradition and just say you to my college loans. Why the should I pay for them if my college degree hasn't rewarded me with anything but debt?
They have income based repayment. Call and ask about that. It should significantly lower your payments. (depending on how much you make).Well it's that time for me; my lenders are ready for me to start paying back my loans. At this point I have over 40K in loans
I know most posters here went to, graduated from, or are still in college. For those like me, who were not fortunate to have their parents pay for them, what did you do in regards to repayment? Defer until you made more money? Go into Forbearance and solely pay the interest? Not pay and run to Mexico? I'm just curious and wanted to get others input before making any big decisions.
EDIT - I'm at a good company now, and have lots of opportunity to advance in the future, but at the same time, this is my first job after college, and they are paying me accordingly.
wow, really?
Your a scam
I have this crazy idea of saying " it" and leaving America for a while maybe a year or two and go be a bum in some foreign country.
That doesn't really have anything to do with student loans.
Yes it does because while I'm gone, I will say " it" to my college loans.
Yeah I'll give them a call tomorrow, I don't break the bank yet, but I'm also an associate project manager and am not in a position to fully pay. It'd be nice if they can lower the payments until I move up with the company. Thanks for the advice.
How severely do student loans effect ones credit score? Mine's fairly solid now and don't wanna change that.
That would be imprudent, as the loans will be here when you return. Nice and higher.
They can gradually up your credit score.
Do you think I honestly give a about student loans?
I have this fantasy of selling 95 percent of my possessions, cashing out my 401K from the Umbrella Corporation(I don't give a if I only get like a few hundred dollars I will take it), selling/junking my POS car that doesn't work, and taking out a payday loan of 1000 or 2000 and saying it to my neck of the woods and leaving for good. I figure if I can head to a country that doesn't have extradition then I should be okay with the legal aspect of it.
guy you're real lucky you're employed at a decent company where you can see a future, while 50% of college graduates who graduated from 06 or later are either unemployed or underemployed. it sucks to have such a huge debt early on in your career but maybe you can learn something from US government on how to deal with debts imho. you can possibly borrow some $ from your company (little or none interest hopefully) and pay back 20k something to the banks so it'll save you a lot of $ in the long run. at a "good" company you can certainly find some affluent colleagues who have spare money to lend you imho
and don't ever consider getting married in your 20s that's my honest advice, unless you can get a who has rich parents but is stupid enough to marry a poor guy who has little savings. a man can sustain a frugal life with just a few hundred dollars a month but the cost would be multiplied if you're in relationship with a imho, even if you don't live with her.
true, US ain't the best country to live in anymore, 's so ed up since the clinton administration due mainly to the heavy influx of immigrants in recent 2 decades. some tiny european countries are the finest places to live in but the living costs there may be even higher than US. you can still afford to move to some 3rd world countries (like the one you immigranted from?) but if you feel upset living in the US, you'd have probably committed suicide already if still living over there tbh
truth bomb, college is probably the biggest scam in this nation (and probably other countries as well) and often the last one to be addressed. college teachers are the laziest workers in the world who make above-average salary while doing basically nothing but playing & ing with teenagers all day everyday. just because you get a doctorate degree it doesn't mean you're privileged to live like a lazyass parasite IMHO
colleges are the biggest frauds but you still have to buy their s as long as employers acknowledge the pieces of papers you receive from a college more than your skills and intelligence.
I want to know where all the s that filled 187 pages the last time someone started a thread and asked, "what is your major" and "which degrees pay the highest?"
8 million s ran in here and bragged about their "credentials"
Are they all in debt now?
Look into income based repayment and income contingent payment plans. That's what I will be doing after I finish Grad school in August. Those cause your payments to be no more than 30% of your income. All lenders should have that option.
When I was set up with the IBR plan before Grad School I didn't have to pay my loans for a year, but it went up from $278 to $372 a month. But in that year I threw an extra $100 in savings every paycheck to pay that extra hundred. So when the year came around I was just making the $278ish payment.
If there were Targets in New Zealand or in some country in Europe, I would definitely consider transferring if it was possible. I think my mood and at ude would definitely be a little better if I was living by a beach or at least close to a beach or some big city in a foreign country. Getting up every day and going to the beach and seeing the sun come up would be a nice thing to do before going to work in retail. That's one thing I've always wanted to do. Go to a beach and watch the sun come up.
marry some girl and transfer ur student loan to her and divorce, u 50/50 on the student loan
we have target in australia.
and yeah ill end up borrowing 60k but im working off federal loans and not private, though it's operated through a private lender.
i was two years too late when Obama stopped subsidizing grad loans....man did i get ed over....
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