index page

Student Loan Help!!

Date: Wed, 01/19/2011 - 22:19
Submitted by on Wed, 01/19/2011 - 22:19
Posts: 202330
Credits:
[Donate]

I need some help, my boyfriend attended a college for one year and had to take out a student loan to pay for his full tuition. At the time his parents told him not to worry that they would help him pay it back, shortly after he signed for the loan his parents had financial problems and were and still are unable to help him with any of the payments. His loan went to sallie mae about a year or two ago and he has been filling out deferment or foreberance papers for awhile. He is really unsure of what he should do, I keep telling him he should talk to the people but sallie mae is impossible to work with on the phone. What are our best options? the loan was originally for $10,000 but now with interest and such it is up to $16,000, neither of us want him to default on the loan because he wants to go back to school. Please can someone help?


Hi!
Welcome to the forums!

Yes, Sallie Mae is quite difficult to deal with. Your boyfriend can take out a low interest debt consolidation loan and pay off the debt. The interest rate on a consolidation loan is normally low. So, this will help your boyfriend to repay the loan at ease. On the other hand, I would advice your boyfriend to find a job as soon as possible. Otherwise, it will be difficult for him to pay off the loan.


Submitted by Good Nelly on Thu, 01/20/2011 - 21:29

Good Nelly

( Posts: 2846 | Credits: )