Comments on: Q3: Cheyenne

By: Cheyenne Postell

Cheyenne Postell — Fri, 26 Oct 2012 20:24:00 +0000

Thanks Brendan. It took me longer than I would like to admit to realize how I could lower my payments. But I have made some headway in that department. Right now I have so many loan providers that my first order of business is to consolidate my loans to as few as possible and then work on getting Income Based Repayment. I appreciate the advice!

By: Cheyenne Postell

Cheyenne Postell — Fri, 26 Oct 2012 20:22:00 +0000

Its good to hear that other people came into this same kind of situation as unprepared as I was. Of course I knew that loans accumulated interest and that people were very forthcoming about not being able to handle their student loan debt, but I never thought it would be me. And no one told me it could be.
And now that so many mortgages are being exposed as unmanageable I am very worried about not being able to pay down my debt. I always thought that you didn’t buy things you couldn’t afford, without realizing that people can convince you of things that are not true, and that an education is in fact something that you buy.
I am trying to be positive through these weeks, and as bad as it sounds it does make me feel better to know that a lot of people may have been dealt a hand that had a few too many cards.

By: Brendan Leahey

Brendan Leahey — Wed, 24 Oct 2012 13:49:00 +0000

I know you mentioned you have private debt but any public debt should be eligible for Income Based Repayment and with your income you would little or no payment.

By: shwoodbury

shwoodbury — Tue, 23 Oct 2012 18:49:00 +0000

I’m in the exact same boat. I identify with you on so much of your struggle. My parents had no idea how all consuming private student loan debt is, I had no idea when applying for aid the difference between private and federal loans, plus I’ve been in repayment for 8 years and the balance never seems to go down. I certainly hope there’s an end in site for students currently in school and those of us shackled in repayment. Hopefully there’s a solution before we waste our lives and thousands of dollars paying back an unmanageable debt. If this helps you should subscribe to StudentDebtCrisis.org.