STUDENT LOANS can go jump into moving traffic.

Status
Not open for further replies.
#1
Yall. Literally. I'm so over it. My payments are $2,000 a month. I can't just ask my parents to help with it. Any ideas? Anyone else dealing with the same? I'm over it right now.
 
Last edited:

Wonder

Well-Known Member
#2
Yall. Literally. I'm so over it. My payments rae $2,000 a month. I can't just ask my parents to help with it. Any ideas? Anyone else dealing with the same? I'm over it right now.
omg what $2,000 a MONTH? I'm over here struggling with $500/mo. And that's ignoring my federal loans :corner:
 
#3
omg what $2,000 a MONTH? I'm over here struggling with $500/mo. And that's ignoring my federal loans :corner:
Yeah. It's freaking insane. I'm so mad. I've been calling the companies all day trying to figure out how the heck I can lower my payments because I'm going to be working at WDW starting in January and it's only $10/hr. But because they're private loans that were bought by third-party companies... I'm not eligible for income based repayment which is a freaking joke. I feel so bad for the people I'm talking with on the phone because I'm literally on the verge of crying.
 

Wonder

Well-Known Member
#4
Yeah. It's freaking insane. I'm so mad. I've been calling the companies all day trying to figure out how the heck I can lower my payments because I'm going to be working at WDW starting in January and it's only $10/hr. But because they're private loans that were bought by third-party companies... I'm not eligible for income based repayment which is a freaking joke. I feel so bad for the people I'm talking with on the phone because I'm literally on the verge of crying.
That's insane. Can you consolidate them? I hear that can sometimes help lower monthly payments.
 
#5
That's insane. Can you consolidate them? I hear that can sometimes help lower monthly payments.
I tried, and they said that I didn't make enough money. (This was also when I added BOTH of my parents incomes.) Which... I don't understand. Because the whole reason you consolidate is to lower payments because you can't make payments as they are. Okay. So they say I don't make enough to consolidate to have lower payments. I'm just so tired of it and fully regretting my degree right now. I worked my butt off to get deans list every semester to hopefully get some kind of incentive... Nada. I'm sorry I'm ranting I'm just really trying to figure out how the heck I'm supposed to do this lol
 

Wonder

Well-Known Member
#6
I tried, and they said that I didn't make enough money. (This was also when I added BOTH of my parents incomes.) Which... I don't understand. Because the whole reason you consolidate is to lower payments because you can't make payments as they are. Okay. So they say I don't make enough to consolidate to have lower payments. I'm just so tired of it and fully regretting my degree right now. I worked my butt off to get deans list every semester to hopefully get some kind of incentive... Nada. I'm sorry I'm ranting I'm just really trying to figure out how the heck I'm supposed to do this lol
Oh no worries, I understand. I went through the same thing (still am) and they are really not willing to work with you at all. They almost force you to default on your loans rather than be any kind of help. It's terrible.
 
#7
Oh no worries, I understand. I went through the same thing (still am) and they are really not willing to work with you at all. They almost force you to default on your loans rather than be any kind of help. It's terrible.
PREACH. Literally though. I've had ONE company out of 4 be any type of "here we can help this way". The others are like "tough patootie! Default on them for all we care." It's just so screwed up. Everyone wants us to better ourselves but as soon as we're out of school they're not willing to make the payments reasonable for us. I feel like maybe I'm complaining for no reason, but how the heck is 2k payments something anyone's able to live on without getting help if they're lucky enough to be able to ask their parents.
 
#10
$2000 a month?! That's $24000 a year... Most people don't even make that much money in one year.
Exactly. It's beyond ridiculous. I've been fighting with the companies all day. The only light in the tunnel is that it'll take me.... about 5 years to pay it all off if I can actually make the payments. -.-

Gosh I wish i could help. I can barely afford my $500 a month payments...
I can't imagine. THATS even a lot. Like my god, we have to have money to live on.
 

Alliwop

Well-Known Member
#11
After I finish paying my student loans, and all my other bills, I'm literally broke. I just spend my last SIX dollars this morning on gas, and I don't get paid until Monday. Student Loans have literally ruined my life.
 
#12
After I finish paying my student loans, and all my other bills, I'm literally broke. I just spend my last SIX dollars this morning on gas, and I don't get paid until Monday. Student Loans have literally ruined my life.
THIS. IS. HORRIBLE. And this is the life that so many college graduates are living. It's SO infuriating. I'm so sorry.
 
#13
ah, this is scary I'm almost a Junior :stare:
 
#17
Well, I have no suggestions for you. I had to default on my student loans after being unemployed for 2 years.
I now have had a job for a year and they've garnished my wages to get their money. I don't get payed enough as it is and now they get 15% of my paycheck.
 
#18
Well, I have no suggestions for you. I had to default on my student loans after being unemployed for 2 years.
I now have had a job for a year and they've garnished my wages to get their money. I don't get payed enough as it is and now they get 15% of my paycheck.
That's ridiculous. I don't understand how half of this ******** is legal. :( I'm so sorry. That's a terrible situation.
 

Whispered

Well-Known Member
#20
I would suggest to anyone who is looking at loans to finance college to seriously sit down and calculate a "worst case scenario". I am about to graduate and move on to 4 more years of professional school, which will leave me, at the end, over 100k in debt. I am only doing this because I have a job lined up afterwords that will enable me to pay that back in 6-7 years of 2k a month payments. If you can't figure out in your "worst case scenario" how you'll pay them back, it's not the right time for college. Honestly, I am lucky everything is working out for me.

That being said, once you're in/through college, there's not much you can do other than either quit while you're ahead (i.e. before you've racked up more debt) if it looks like you won't be able to pay it all off, or finish it off and hope for a good job. The other alternative is to look for paid internships and companies willing to sponsor you. Many companies have assistance programs that are "employees only" but will either offer unused funds to regular students, or even give you the funds after giving you a paid internship to be an "employee".

After college, there are multiple ways to go about your loans. While I am not sure who your private loans are through, I recommend calling the loan originator themselves (ex: Discover) instead of the third party servicer of the loan. The servicer of the loan is extremely limited in what they can do other than take your money and forward it to the originator that you paid for the month. The originator of the loan is the one who sets the terms that they want you to follow. Talking to them may reveal options that the servicer never even thought about.

Just as an example though, my loan servicer even has repayment options right on the top of their website. I think you may need to use the HUCA approach to customer service (hang up call again) until you get someone who will at least listen to you and may be able to recommend a plan for you. It is rare that a loan originator and servicer will not work with you because they want their money back, and you are genuinely trying to pay it back.


If you don't mind me asking, why are you working at WDW? Is it a job you wish to keep for a long time? Is it a job because you weren't able to find other jobs? Is it a job as part of a career-related experience (similar to an internship or DCP for example)? If you are working a low income job by choice - as in there are higher income jobs with your degree but you're choosing not to work them - there's not much they will be willing to do. But if you are working a low income job for a good reason such as it'll help you in the future, you're going to move up, you have a guaranteed promotion, things like that; then they will be more willing to work with you as they know that your income will be going up.

I would definitely recommend talking to at least one (and probably all) of the following in your area: banker, tax specialist, school's financial department. They will be able to help you get to where every ounce of your paycheck is going to the right place and make sure you aren't losing money that you should have in your pocket.


Best of luck to you and I hope everything works out!
 
Status
Not open for further replies.
Top