Please help! My girlfriend is in debt......?

Please, real answers only.... My girlfriend is 22 Yrs. Old and has about 45k in school loans she needs to pay back starting yesterday.... I need to know are there any programs out there, or anything that she/we can do to get this down. Her credit is going down the drain because of it, and she wont be able to qualify for anything. and she is stressing out REALLY BAD over it. They are going to start taking it out of her check and she doesnt make much at all, so PLEASE HELP, what can we do? Thank You Everyone

PLease Help

Please help! My girlfriend is in debt......?

She can get the loans deferred even longer if she signs up for more classes at the local colleges. However, she will still need to pay these loans. A good suggestion is for her to apply for graduate classes and then apply for grants at the same time. A lot of times, if she gets the graduate grants, she can use them to pay off student loans.

Hope this helps.

Please help! My girlfriend is in debt......?

http://www.fafsa.com/deferments.htm

AND

http://www.finaid.org/calculators/econom...

Please help! My girlfriend is in debt......?

Interest rates are really low right now. She needs to pay as much over the minimum payment as she can. Student loan interest rates usually reset once a year (in July, I think).

You can consolidate your student and lock in an interest rate. However, you can only consolidate once - so if rates go lower than what you locked in at - your stuck with the higher rate.

Student loan interest is tax deductible. Your girlfriend will get a statement for tax purposes saying how much interest she has paid.

If you file bankruptcy - you can not get out of student loan debt.

Most student loans are set up to be paid back over a 10 year period.

Here is some info I found on Suze Orman%26#039;s web site:

PAYING OFF STUDENT LOANS

Suze Says: %26quot;You cannot discharge student loans in bankruptcy. You have got to pay them somehow.%26quot;

Forbearance: If you legitimately cannot afford to pay your student loans, forbearance is an option. You can postpone payments but the maximum time is one year and your interest rates will continue to accumulate. Suze says this is not the best option. Deferment is the better option, as interest does not accumulate in most cases.

Suze Note: Congress has made a change in the treatment of student loans. Right now the interest rate of a Stafford Loan is 4.7%. As of July 1, 2006 that interest rate is going to lock at 6.8 %. The rate of Plus Loans is currently 6.1% but on July 1, 2006 it will lock at 8.5%. If you have not yet consolidated DO SO NOW before these rates go up and stay there forever. Lock in the lower interest rates! Defer payments if you have to.

Consolidating: You cannot consolidate federal loans with private loans. You can, however, consolidate private loans with other private loans and federal loans with federal loans.

SUZE SAYS: No parent should have to be responsible for financing his or her child%26#039;s education. If you want to help your child finance their education, the best way is to simply sit down, have a good conversation, and let them take out loans. They have what it takes to do it on their own!

http://www.suzeorman.com/igsbase/igstemp...

Please help! My girlfriend is in debt......?

Question for you or for your girlfriend better yet. she is in debt 45K and yet she doesn%26#039;t make that much money, where did she go to school, what did she get her degree in, and if one job isn%26#039;t cutting it, then get a second job. And start looking for a job that pays better for the primary job.

Please help! My girlfriend is in debt......?

You need to speak with the loan provider. If they are federal loans there is a bit more leeway than private loans, but both can be concolidated (seperately) and termed out over up to ten years.

If it is truly more than you can afford to pay, you can request deferment. Your rights and restrictions vary depending on the lender. You need to contact them to discuss options.