Results 1 to 5 of 5
  1. 08-04-2012, 12:22 AM #1
    meredith1629
    meredith1629 is offline
    Registered User meredith1629's Avatar
    Join Date
    Jan 2011
    Location
    Kentucky
    Age
    31
    Posts
    109
    Post Thanks / WTG / Hug
    Rep Power
    3

    Default Consolidating Student Loans - Help Please!

    I have significant student loan debt.

    Through Chase Bank: $26,000
    Through University Accounting Services: $5,000
    Through the Government: $42,000

    Yes, I know it's bad.

    I have no idea where to start with consolidating. I want to leave the government loans alone if possible and not consolidate those if it will help me. I want to consolidate the other two loans that are at 6% and 9%.

    Advice? Companies to go through? Help?

    Thanks in advance!
    Meredith

    Baby Step 1: Done!
    Baby Step 2: Working on it. Will take a loooong time.

    June 2013 No Spend Challenge / No spending: 16 days

    1 (x), 2 (), 3 (x), 4 (x), 5 (), 6 (), 7 (), 8 (), 9 (), 10 (), 11 (), 12 (), 13 (), 14 (), 15 (), 16 (), 17 (), 18 (), 19 (), 20 (), 21 (), 22 (), 23 (), 24 (), 25 (), 26 (), 27 (), 28 (), 29 (), 30 (), 31()
    x = spent money

    No Spend 2013
    January - Goal: 15 - Actual: 19
    February - Goal: 13 - Actual: 17
    March - Goal: 16 - Actual: 16
    April - Goal: 15 - Actual: 21
    May - Goal: 15 - Actual: 13
    Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiTweet this Post!Share on FacebookSpurl this Post!Reddit!Wong this Post!
    Reply With Quote Reply With Quote
  3. 08-14-2012, 03:54 AM #2
    AnoxiaSan
    AnoxiaSan is offline
    Registered User
    Join Date
    Aug 2012
    Posts
    1
    Post Thanks / WTG / Hug
    Rep Power
    0

    Default

    Quote Originally Posted by meredith1629 View Post
    I have significant student loan debt.

    Through Chase Bank: $26,000
    Through University Accounting Services: $5,000
    Through the Government: $42,000

    Yes, I know it's bad.

    I have no idea where to start with consolidating. I want to leave the government loans alone if possible and not consolidate those if it will help me. I want to consolidate the other two loans that are at 6% and 9%.

    Advice? Companies to go through? Help?

    Thanks in advance!
    I'm pretty sure that leaving the government loans out of the consolidation will be a good idea. I am also in the same boat.

    20,000 through Sallie Mae (SUCK) (two different loans)
    30,000 through the government (four loans)

    I'd like to pay more than the minimum payments, but I've just graduated, so I dont know what my loan payments are really going to look like. Ideally, I'd like to pay it off in 5-8 years. : \

    I'll also be looking for advice. All of this is just way to overwhelming.

    Hopefully you obtained a degree. I know a few people who have 70,000+ in loans, and dropped out a year before they were to graduate. At least have something to show for all of that hard work. : \
    Last edited by AnoxiaSan; 08-14-2012 at 03:55 AM. Reason: left stuff out.
    Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiTweet this Post!Share on FacebookSpurl this Post!Reddit!Wong this Post!
    Reply With Quote Reply With Quote
  4. 08-14-2012, 11:43 PM #3
    meredith1629
    meredith1629 is offline
    Registered User meredith1629's Avatar
    Join Date
    Jan 2011
    Location
    Kentucky
    Age
    31
    Posts
    109
    Post Thanks / WTG / Hug
    Rep Power
    3

    Default

    I am glad that I'm not the only one in my boat. I currently am paying 33% of my net monthly income to student loans. That is the minimum! The $75 is from only two years of graduate school, but I DID get the degree.

    Hopefully someone here will have some advice for us. I feel like I will never get these paid off.
    Meredith

    Baby Step 1: Done!
    Baby Step 2: Working on it. Will take a loooong time.

    June 2013 No Spend Challenge / No spending: 16 days

    1 (x), 2 (), 3 (x), 4 (x), 5 (), 6 (), 7 (), 8 (), 9 (), 10 (), 11 (), 12 (), 13 (), 14 (), 15 (), 16 (), 17 (), 18 (), 19 (), 20 (), 21 (), 22 (), 23 (), 24 (), 25 (), 26 (), 27 (), 28 (), 29 (), 30 (), 31()
    x = spent money

    No Spend 2013
    January - Goal: 15 - Actual: 19
    February - Goal: 13 - Actual: 17
    March - Goal: 16 - Actual: 16
    April - Goal: 15 - Actual: 21
    May - Goal: 15 - Actual: 13
    Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiTweet this Post!Share on FacebookSpurl this Post!Reddit!Wong this Post!
    Reply With Quote Reply With Quote
  5. 08-15-2012, 12:56 AM #4
    larabelle
    larabelle is offline
    Registered User
    Join Date
    Sep 2007
    Location
    North Texas
    Age
    50
    Posts
    1,583
    Post Thanks / WTG / Hug
    Rep Power
    11

    Default

    Sorry I don't have any advice on consolidating. I had three student loans totalling $50K but they were all govt. I was able to get them to lower the interest rate by calling and pleading my case. You can pay them off but it will be slow and steady. I paid mine off within a year but my net income was $62,000 at the time.
    Baby Step #1 Done!
    Baby Step #2 Beginnning debt balance 01/01/08 $78K /Paid in full on 08/06/10
    I'm debt freeeee............ GOD IS SO GOOD!!!
    Baby Step#3 Goal: One year emergency fund began saving Jan 2011 accumulated Aug 2011 YIPPEE!!! God is sooo good to me!!!
    Baby Step #4 Yep currently doing this.
    Baby Step #5 No kids so no need.
    Baby Step #6 I PAID CASH FOR A HOUSE!! God is soooo good to me!!!
    Baby Step #7
    Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiTweet this Post!Share on FacebookSpurl this Post!Reddit!Wong this Post!
    Reply With Quote Reply With Quote
  6. 08-17-2012, 08:14 PM #5
    Determined
    Determined is offline
    Registered User
    Join Date
    Mar 2009
    Location
    Tri-State area
    Age
    30
    Posts
    46
    Post Thanks / WTG / Hug
    Rep Power
    0

    Default

    Just wanted to add my contribution to the commiseration pot and make you all feel better: I still have close to $80k in student loans... and I'm almost 8 years out of school. Silly me, I thought that if I ignored them, they'd go away. Ummmm, yeah. Actually, just the reverse.

    New day - Older, wiser, rolling up sleeves and getting out the mop. Time to clean up the mess.

    Strength in numbers, all! WE can do this!!!
    Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiTweet this Post!Share on FacebookSpurl this Post!Reddit!Wong this Post!
    Reply With Quote Reply With Quote
« Previous Thread | Next Thread »

Similar Threads

  1. Student Loans?
    By kitkat0649 in forum Debt Reduction & Money Management
    Replies: 3
    Last Post: 06-14-2012, 11:16 AM
  2. Student loans...
    By llowdell in forum Debt Reduction & Money Management
    Replies: 10
    Last Post: 08-03-2007, 11:27 PM
  3. student loans...?
    By newresolve in forum Debt Reduction & Money Management
    Replies: 1
    Last Post: 07-23-2007, 04:12 PM
  4. student loans and home loans
    By jenray in forum Debt Reduction & Money Management
    Replies: 0
    Last Post: 07-05-2007, 10:33 PM
  5. For those with Student Loans
    By freedeal in forum Frugal Living
    Replies: 13
    Last Post: 10-06-2006, 02:20 PM

Tags for this Thread

Bookmarks

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •  

Forum Rules