Make sure you know the difference between subsidized and unsubsidized loans, parent plus loans, federal loans, and private loans! There are things I wish I knew more about going into college, and this is one of them. Now, I’m juggling 7 different loans from 3 separate lenders at all different interest rates.
Hi,
Maybe you should look into consolidating.
That's a great point, Latasha! I've looked into consolidating some loans, but the interest rates only moderately vary and not in my favor. Hopefully, I can explore this option in the near future when my debt goes down :)
Yeah in that case I wouldn't recommend it. Student loans are horrible. Fin Aid does not take the time to explain anything. I'm paying mine back and I am still a bit confused. Lol 🤦
♀️
I ended up having to take out some personal loans for college, so those loans are at different banks and can't be consolidated. They're also at higher rates than the student loans. It's really frustrating to have so much debt hanging over my head, but I'm pushing through.
Push Nicole Push!
You got this, Nichole! 
You're not alone in your financial journey. We're ALL rooting for you!!!
I have tried consolidating but keep getting denied, why?
@Melissa – I found this article super helpful! https://www.sofi.com/learn/content/student-loan-refinance-denied/
It gives 6 potential reasons why you might be getting denied, as well as some great advice on how to go forward with refinancing your loans.
I need to learn more
I would like to know more about this as well now that I’ve just how a letter about my student loans today.
Yeh my loans are slowly raising because I haven’t started paying them back yet. It’s frustrating because I can’t afford to start paying on them, yet there continuously rising because of that.
Call them up let them know you have important personal bills, tell them you have a family. Tell them much you need to spend a month to live. Tell them how much you make. They will lower your payments. Also take it to your tax preparer you get interest you paid back in taxes. It will put your loans in good standing, lower the payment, and boost your credit score. I do it every year.
Any one you are in debt with, you call yourself make your own agreement, talk them down. You don't need help. Some will help you if you don't work tell them. If you have credit cards now or whatever bill you pay. Call them tell them I lost my job or I was sick they will help you.
I've had issues wth my student loans for yrs it will disappear of my credit reports and then pop back up ion know what to do my score is screwed because of it.
here's to hoping biden will cancel some student loan debt if he is elected
What is he going to do exactly?
Student loans wouldn't be so bad if they did not compound daily. That's the bs they need to get rid of. It makes it hard to get ahead of the interest especially if you are on an IDR.
If you work in certain industries you may qualify for public interest loan forgiveness, too. Teachers, non-profit, and government workers may qualify.
If you are on income driven payments you will want to be sure your minimum payment covers the interest. Otherwise the principle will never go down and will be increasing instead.
We are almost done paying off $63,000 in student loan debt. It has take 17 years, but we are finally there. The last $1000 should be done by the end of the year! Keep at it and you'll get it done.
@Andrew - CONGRATULATIONS!
Whoop whoop go Andrew!
I paid off my loans years ago. I had subsidized stafford. I also had idiots telling me to consolidate as soon as possible. It was the worst advice I could have received. Instead of consolidating, I registered for night time classes and deferred. I went to the classes selectively. This worked, until I had more room under my budget to pay off the loans. Consolidating loans is a trap. You lose the ability to defer.
We are almost done paying off $63,000 in student loan debt. It has take 17 years, but we are finally there. The last $1000 should be done by the end of the year! Keep at it and you'll get it done.
Congrats!!
