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    student loans

    I've received an update of my student loan payback, and the interest alone is more than I feel I can pay off!

    Does anybody have any advice or direction I can go in to reduce this or to think about paying it off?

    I feel that I am a little bit out of my depth here

    #2
    Hi. Welcome to the site.

    We need more info to help you. Can you provide your income and expense information? List all debts with current balances and interest rates.
    Steve

    * Despite the high cost of living, it remains very popular.
    * Why should I pay for my daughter's education when she already knows everything?
    * There are no shortcuts to anywhere worth going.

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      #3
      I'm willing to help, but I'm curious. You have already introduced yourself as a freelancer and savings expert. Are you really asking for advice or are you writing an article about this topic and need some input?

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        #4
        Originally posted by APorter910 View Post
        Does anybody have any advice or direction I can go in to reduce this or to think about paying it off?
        If you have extra money each month, send it to the student loans.

        If you are lacking money, get a second job and put that money towards the student loans.

        If you don't want a second job, sell some of your personal stuff and put the proceeds towards the student loans.

        see the pattern?

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          #5
          Your student loans plus accruing interest must be paid off. There is no avenue of escape. You need to re-allocate financial priorities as this will affect every decision for every dollar you earn or spend.

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            #6
            Consolidate?

            Why not consolidate your student loans? You are more than likely to get a more reasonable interest rate by selling your loans to a 3rd party.

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              #7
              Originally posted by msomnipotent View Post
              I'm willing to help, but I'm curious. You have already introduced yourself as a freelancer and savings expert. Are you really asking for advice or are you writing an article about this topic and need some input?
              Yes. A self proclaimed savings expert with Student Loan pay pack issues doesn't seem quite right.
              Brian

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                #8
                Originally posted by bmelissa545 View Post
                Why not consolidate your student loans? You are more than likely to get a more reasonable interest rate by selling your loans to a 3rd party.
                Because you'd lose all the benefits of subsidized loans.

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                  #9
                  Originally posted by Nutria View Post
                  Because you'd lose all the benefits of subsidized loans.
                  Since they have accrued interest, that means either it is an unsubsidized loan, or they are not in qualification for subsidies at this time. The government will only pay interest on subsidized loans in select scenarios...
                  • While you are a student at least half-time
                  • Periods of deferment
                  • Grace period (loans not first disbursed between July 1, 2012 and July 1, 2014)


                  Anyway, this thread has already been pointed out by others to be a little "off." I am merely posting this for general information
                  Check out my new website at www.payczech.com !

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