Concerned father
Date: Thu, 02/17/2011 - 11:14
We are low-income pt parents in 70's and have a fine daughter who owes a HUGE chunk on her student loan account. (a private university) Any way she can get the interest lowered or get part of balance reduced? She's stuck in a small community with a part-time job and can't save enough to go for a bigger community where jobs are scarce too. Our meager income just keeps our heads above the flood soa we can't be of help.
ANY IDEAS?? Many Thanks!:
ANY IDEAS?? Many Thanks!:
Well if she has federal loans, she can consolidate them with Dir
Well if she has federal loans, she can consolidate them with Direct Loans for lower payment. The interest or principal will not be reduced but the payment will be affordable. If she is able to get a full time public service job,she can have her loans cancelled or forgiven after 10 years in repayment,.
If any are private loans, she will be facing an uphill battle. They do not have loan forgiveness nor will they lower the interest rate. They do not offer affordble payment plans either.
