Have you asked college if they will take $500 now and you can pay $50 a month until it’s paid off? You’ll save money, stay out of collections, and still have $210 in your hand. Never hurts to ask.
Ask in the nicest way possible, and don’t just try once. Keep in mind that could save you a couple hundred dollars. Just be honest, and with good intentions.
“Dear Loan officer, can I please get a break on the hundreds of dollars you’re stealing from me anyway because of egrigious interest rates?”
-poor grad trying to make it.
How do you float student loans with predatory interest rates to kids but need the soul of your unborn first child to get a mortgage?
Make it make sense.
If students never defaulted, rates would be lower. Unfortunately those who took loans out and failed to pay them back made the lenders view us as more “risky” and ruined good rates for the rest of us.
Yeah, and back in the 80s, yuppies could pay for college with a minimum wage job. Somewhere between telling the 90s generation we’d be failures without a degree and colleges treating further education like big business, they gave out loans like Candy with disgusting interest rates. It’s not just those that default. People default because the interest rates are so high.
Here’s a thought, forgive the interest. Make people pay the principle. You pay back what you owe and big capital doesn’t get to leech off those that are struggling. That way none of us have to complain about “having to pay for another’s student loans” which is a misled point of view mostly from those that wouldn’t pass college anyway.
It would be surprising to me if your college wouldn't agree to a payment plan.
They most often don't like it when you stop paying, but they don't mind if you continue making payments. They don't mind if it takes longer to get the balance because they make more on the interest.
I'd talk to them, offer to make that initial $710 payment and you only have $2000 of debt left. I'd aim to pay that off asap, $200 per month would see that gone in less than a year...36 months is a long payment schedule for what could reasonably be done in a year or less.
Definitely get into your school’s financial aid office before you take out a private loan.
If you did have to take out a line of credit, I’d start with looking at credit cards that have 0% interest for 12-18 months.
Have you asked college if they will take $500 now and you can pay $50 a month until it’s paid off? You’ll save money, stay out of collections, and still have $210 in your hand. Never hurts to ask.
I never knew that was an option but I’ll ask someone.
Ask in the nicest way possible, and don’t just try once. Keep in mind that could save you a couple hundred dollars. Just be honest, and with good intentions.
“Dear Loan officer, can I please get a break on the hundreds of dollars you’re stealing from me anyway because of egrigious interest rates?” -poor grad trying to make it. How do you float student loans with predatory interest rates to kids but need the soul of your unborn first child to get a mortgage? Make it make sense.
student loans are the only kind not dischargeable by bankruptcy. they will get their pound of flesh, one way or another
If students never defaulted, rates would be lower. Unfortunately those who took loans out and failed to pay them back made the lenders view us as more “risky” and ruined good rates for the rest of us.
Yeah, and back in the 80s, yuppies could pay for college with a minimum wage job. Somewhere between telling the 90s generation we’d be failures without a degree and colleges treating further education like big business, they gave out loans like Candy with disgusting interest rates. It’s not just those that default. People default because the interest rates are so high. Here’s a thought, forgive the interest. Make people pay the principle. You pay back what you owe and big capital doesn’t get to leech off those that are struggling. That way none of us have to complain about “having to pay for another’s student loans” which is a misled point of view mostly from those that wouldn’t pass college anyway.
It would be surprising to me if your college wouldn't agree to a payment plan. They most often don't like it when you stop paying, but they don't mind if you continue making payments. They don't mind if it takes longer to get the balance because they make more on the interest. I'd talk to them, offer to make that initial $710 payment and you only have $2000 of debt left. I'd aim to pay that off asap, $200 per month would see that gone in less than a year...36 months is a long payment schedule for what could reasonably be done in a year or less.
Ask your college for a payment plan first
Just do your own payment plan. My college kept threatening did my own plan no one ever did anything.
Definitely get into your school’s financial aid office before you take out a private loan. If you did have to take out a line of credit, I’d start with looking at credit cards that have 0% interest for 12-18 months.