Re: I can help with your Student Loan(s)
03-05-2012 10:13 AM
I am in a predicament, and was hopeful to get some advice.
I currently have roughly $145,000 in student loans - both private and federal. Privately, I have around 35,000. These private loan company, will not reconsolidate, nor will they extend payments or lower them. I have requested any additional means of help, but am unable to have them work with me. The loan is through AES - the lender is PNC.
My federal loans are widely spread out, ranging from parent plus loans (which are in my father's name) and those which are in my own name. As I understand it I am unable to consolidate my loans with the parent plus loans, both of which I am responsible for.
I was told that because the loans that are in my father's name are parent plus loans they do not qualify for an IBR. I think that the loans in my name, however, do quailfy.
Between all of the loans, my total accumulates to well over $1,500 per month. I make a decent living, and got a job fairly quickly out of college making $51,000 a year. I do have the means to make some payments, and fully intend to. I simply cannot make such a large payment that, after taxes, comes to 83% of my paycheck when all of the loans are added together.
I am not sure what to do at this point.
My private student loan company has turned their portion to a thrid party collection agency as it is 30 days overdue.