College loans problems.. private loans
Hiiiiiiiii!!!!!!!!!
G'day to Everyone,
My Girlfriend is having some serious problems, dealing with her college loans, we recently moved in together so I consider this my problem as well. This is what his loans look like.
Current principal balance interestrate
Loan 1 $5,894.63
Loan 2 $4,306.93
Loan 3 $3,601.22
Loan 4 $9,792.00
Interest rate
Loan 1 15.25%
Loan 2 15.25%
Loan 3 15.25%
Loan 4 4.75%
The first 3 loans are what we are concerned about, these are all private loans. She is paying about $300 a month right now, and that is the maximum we can afford. We live very basically, we do not go out much, if at all. We keep everything basic, but between rent, food, electricity, and other basic living needs we simply can't afford to be making higher payments. In about a year her payments will go up another $100 a month. While she is making the the minimum payment she is barely touching the principal of the the loans. She would love to get the loans consolidated but she has no one to cosign the loans, and it is next to impossible to get private loans consolidated with out a cosigner from what I understand. She has never missed or been late for a payment, but it is becoming an extreme hassle. I have been reading articles on the web for months we even tried to contact a state representative to see if anything could be done to no avail. When signing up for the loans she didn't really no much and basically did what her school told her she had to do. So what I am asking is if their are any programs that can assist us in consolidating, or any other options we might have. We really don't want to have to resort to deferring, but we know we will not be able to afford the payments when they go up to $400 a month. Thanks for any help, or any leads that you may be able to give me.
Thnx
Similar Threads:
Reply With Quote
