I just got a call about my Stafford Loans that i didnt even realize I had out $10,000 worth. DH and I are still paying off so many other loans and $25,000 in my other student loans. I dont even want to tell him about this. Its gonna be over $100/month for 10 years....and I know I have to tell him....but I think if I do he's gonna KILL me. We thought we had everything paid off or being paid off. This is just not good.
evnme
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Re: omg....student loan problems.
cookiemonster
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Re: omg....student loan problems.
Is there any way you can consolidate them? I had several different kinds of loans and I was able to get them all under one monthly payment at one interest rate - it still wasn't cheap but it did help me a lot. Are your other student loans private or public?
MrsQ-in2007
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Re: omg....student loan problems.
Aw man, that suckkkkkks! I can't believe you're just now finding out about this other loan Same thing happened to my friend only they charged her for a few years' worth of extra interest for not having paid.
AeroJenn
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Re: omg....student loan problems.
Well luckily the payments are just starting in December, so I'm not late on anything. But seriously....I just did not see this coming. Its my own fault for not keeping better records of how much I took out and from where...but I started taking out my loans at 17 and my parents were no help. So, I wasnt really ready for the responsibility nor did I understand how much it would affect me later. Grrrr I wish I had been smarter.
I hope DH doesnt freak.
bonitachyc
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Re: omg....student loan problems.
awww this suucks!! i'm sorry!! definitely look into consolidating the loans, that helped me out alot when i had to start paying them back.
try freaking giving your DH some REALLY bad news first, that way this news doesn't sound so bad....lol i'm awful i know
jax1023
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Re: omg....student loan problems.
Can you extend them to lower the payment? I consolidated a few years ago at 2%, so I might look into that. I'm actually making money on my masters degree, since my checking account makes way more than 2%
vintagegirl
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Re: omg....student loan problems.
consolidate and bleive me it helps.. i am paying like almost $300 a month on mine.. but remember its good debt.. it will help your credit score big time!!
Meaghan729
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Re: omg....student loan problems.
Posted by jax1023
Can you extend them to lower the payment? I consolidated a few years ago at 2%, so I might look into that. I'm actually making money on my masters degree, since my checking account makes way more than 2%
the 2% interest rate days are OVER! my stafford loan for grad school is at 6.5%. DH locked his in at 2% a few years ago - LUCKY. You can't consolidate while in school anymore. stupid government.
and to the OP - I paid for my own undergrad AND grad school, so I know the feeling of having NO help (and I went to Hofstra, it wasn't cheap!)
I would look into consolidating, you can get a longer term and your payment will be lower, but your will pay more in interest payments so choose wisely.
and like the above poster said, it is good debt to have. If you make less than $135K combined you can write off the interest on your income taxes.
Kara and Todd
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Re: omg....student loan problems.
Even if the interest rate won't be 2% or whatever (My student loans consolidated at 4.25% a few years ago...), the payments will still be lower, the interest rate will still be lower, and you'll have more time to pay off the loan.
