I am looking for advice. My credit score has gone down to 510. This is due to student loans and a few bills being more than a month late and then reported. I have private student loans and federal student loans. Honestly on my salary of $45,000 I juggle my bills and I really cannot afford the student loans. I am just paying the interest on the private student loans. All of my federal student loans have come off of the covid forebarance and are a few months behind. I am looking for any advice on how to improve my credit score and advice with dealing with student loans. I owe around $80,000 in student loans. Thank you!
Have you contacted your servicer to apply to be on an Income Based Repayment? They have different ones. I applied (130K in loans) and before the pandemic I was only paying $50/month. After a certain number of years, the remaining balance is often reviewed and forgiven. I hope this can help you to not default on them.
Federal student loans have not come off covid forebearance yet. That doesn't happen until August or September.
Contact the lender to see if possible, that they can remove any late payments. If not, then you need to bring all credit accounts current.