Student Loans

[VeeV]

I have roughly 101k in student loan debt. It is an accumulation of undergrad and graduate school debt. Since graduating in 2007, I have not been able to find a full-time permanent position. Over the years I have been jumping for temp position to temp position. I don’t have money saved because I have used it while being in between jobs. Well, I am sick to my stomach about my student loans and want to pay them off aggressively but I am still working as a temp. I do not think my current job will hire me full time because it has a hiring freeze.  So my question is do I focus on saving money for a potential layoff or do I take extra money to paying off my loans?

[laz98]

I would save the money for times of unemployment.

[kkid]

One strategy would be to transfer to the William Ford direct loan program.  Then put it in forebearance status.  In forebearance the interest only accures on the principal and the interest goes into another account. Keep it there and pay on it as you can.

[delayedinsanity]

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kkid wrote:

One strategy would be to transfer to the William Ford direct loan program.  Then put it in forebearance status.  In forebearance the interest only accures on the principal and the interest goes into another account. Keep it there and pay on it as you can.

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I found information on the WF Direct Loan program, but I could not find anything about transfering an existing student loan in to it... can you post any links about this, or is it just something where we have to contact somebody and ask them directly?