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Old 07-11-2010, 02:00 AM
Ajambol Ajambol is offline
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Default School Loans

First of all I will start by saying this: I am an idiot. I know this and you do not have to restate that fact. I made the stupid mistakes and am trying to overcome them.

Alright, so I have old school loans, from a school I never finished. Biggest mistake of my life. The loans were FAFSA, and a part of it was a grant(since I finished I owe that too). I did not attend the school long enough to get any benefit from it as far as landing a decent job. The loans are almost 6 years old and in my stupidity I did not pay it all off(and acquired more debt in the process). Right now I owe about $6,000 more on the loans.

I am currently unemployed and searching hard for a job, but have had very little luck. When I do land a job most of my money goes towards living expenses(mainly because I only get part-time jobs lately).

My question is this: Is there any way possible for me to go back to school right now? I talked to the people at fafsa and they said I need to pay off my old loans first, but I was wondering if I could do it through a bank or something? My credit score is terrible but I am willing to accept a stupid-high loan rate as long as I can start paying it off after my schooling is complete.

I am assuming this is not possible, but any advice is appreciated.
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Old 07-11-2010, 06:56 AM
dczech09 dczech09 is offline
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How much do you have in total debt right now? That would be the total of your student loans, credit cards, and any other debts such as auto loans.

What would you go back to school for? If you could get back to school, the student loans would likely go back into deferment until you finish. Also, you need to do a lot of research and determine what type of job you could land with your degree, what pay you could reasonably expect, and determine if that would generate enough to pay down for debt confortably.

This job market is terrible, no lie, but finding a job is anything but impossible. Keep on sending out applications/resumes and do not give up. The number of "discouraged workers" right now is appauling.
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