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#1
10-15-2009, 11:14 AM
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Student Loan Interest
Student Loans: I was young and dumb - took out a couple of loans, quit school, then repeated this cycle. I did finally finish college with a total of $15K in loans however the interest has grown so now I owe over $30K. I am now disabled and need to change professions. How do I get this interest reduced so I can afford to pay these loans back?
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#2
10-15-2009, 10:01 PM
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Normally when you sign the loan paper you also agree with its terms and conditions, i.e. you also agree with the interest rate mentioned in the document. So chances are less that you can alter the rate that you have agreed upon. You can check with the following link for more information and also wait for the experts.
"http://blog.wellsfargo.com/StudentLoanDown/2009/02/can_i_lower_my_student_loan_in.html"
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#4
10-27-2009, 03:48 PM
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The problem with consolidating student loans is that it may affect ones credit rating. I would suggest going to a financial advisor or free credit counselor to get more info.
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#5
10-27-2009, 05:29 PM
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With someone with a limited income, there is no other option but consolidating with direct loans.....most financial advisors and credit counselors no nothing about the working of student loans.
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