Whats the best way to get out of my student debt, I have about 93000 in private loans and 23000 in f
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You have $116M in student loans and only make $37M. How did you get yourself into a situation like that? If you consolidate with that much debt, I believe that you can get a really long loan term, which would in effect lower your payment. I also believe that student loan consolidate rates are capped at some rate lower than the rates that you are paying. Don't quote me on this, but I think the student loan rate is capped at 6.5% and you can probably get a 30 year term. If I'm correct, a PV of $116M, a rate of 6.5%, on a 360 month term, would give you a payment of approximately $733.20 per month. My student loans were consolidated through AES, their website is www.aessuccess.org and my wife's loans were consolidated through ACS, I don't have their website. Don't forget to deduct your student loan interest in April.
Whats the best way to get out of my student debt, I have about 93000 in private loans and 23000 in federal?Join the army. They will pay it for you.
Whats the best way to get out of my student debt, I have about 93000 in private loans and 23000 in federal?Maybe you can find someone with better credit than you have and get them to co-sign where you can get a loan with less interest...get enough money to pay off both debts and you will only need to make one payment, it wont be cheap with all the debt you have accumulated, but getting the debts combined and paying less interest is much better than paying for two, and it is less stressful...good luck!
Whats the best way to get out of my student debt, I have about 93000 in private loans and 23000 in federal?Second job looks like the way to go. Work hard to get out of debt and you'll feel like you can accpmplish anything. Besides its not going to be for the rest of your life - only til you get these loans paid off.
Try reading Dave Ramsey's Total Money MAkeover - he is the "get out of debt guy" and you'll be glad you read his book.
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