Hello. I have Sallie Mae student loan payments totalling $380 a month and income of about $1100 a month (obviously teachers get paid WAY too much). I have no problem repaying debt but this amount is too much per month (especially considering cost of living in Hawaii as well as credit card debt I accrued while in school). Is consolidation the way to go or does it just add too much to the back end? Also, besides the 5-year teach laon forgiveness plan, isn't there some sort of reduction for "on-time" payments over a certain amount of time as well?
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