I owe about $250,000 in school loans, and I don't make near enough to pay it. Is there anything I can do?
It's mostly from school loans. I can barely pay the interest only. Is there any help out there?
- lovelywhitelyLv 59 years agoFavorite Answer
Filing for bankruptcy might not work at all. There are some options for you, which was listed on the Federal Loans Websites.
Loan Forgiveness: One is if you are a teacher, the other one is if you are working for the Federal or doing public works. For more information: http://www.finaid.org/loans/forgiveness.phtml
Another is: Income-based Program.
It depends on the types of loans you have.
- WhiskeyLv 79 years ago
What is your degree in?
It appears you did not check on the average pay for the degree before you spent the money, but you now know the income you will get for your degree. You can call the creditors and ask for the loan to be extended over a longer term. In the long run you will pay more interest but the payments will be smaller.Source(s): WHiskey
- Lee HLv 49 years ago
dammmm dude what place did u go to