Sallie Mae
Date: Mon, 11/10/2008 - 18:05
Sallie Mae
Hi,
My husband and I are about to graduate from a Masters program. Our combined private student loan debt is $300,000! We are sooo scared because there is no way we will be able to pay $7,000 a month. Our debt is higher than the average student because we put ourselves through school We had no grants, no money saved, no nothing. Also, every year of studies we were raising two boys.
Sallie Mae doesn't want to tell me our options because we are not in repayment yet. We are in our 6 month grace period. I need to know, however, what are our options so we can prepare for rough times. We need to figure out how we will get by and only use basic necessities. What is worse, is that we are poorer than when we started school. At least we had 0$ and not -300,000$. Because our combined income will be 70,000$ we don't even qualify for government health care. I am not sure what is the monthly payment with the different programs.
What will we do? There is no way we can pay, we don't make 7,000$ a month. Also, I am willing to pay with 50% or even 70% of our income as long as we have food, shelter, and medical care.
Please give me any advise you can think of.
Karla
My husband and I are about to graduate from a Masters program. Our combined private student loan debt is $300,000! We are sooo scared because there is no way we will be able to pay $7,000 a month. Our debt is higher than the average student because we put ourselves through school We had no grants, no money saved, no nothing. Also, every year of studies we were raising two boys.
Sallie Mae doesn't want to tell me our options because we are not in repayment yet. We are in our 6 month grace period. I need to know, however, what are our options so we can prepare for rough times. We need to figure out how we will get by and only use basic necessities. What is worse, is that we are poorer than when we started school. At least we had 0$ and not -300,000$. Because our combined income will be 70,000$ we don't even qualify for government health care. I am not sure what is the monthly payment with the different programs.
What will we do? There is no way we can pay, we don't make 7,000$ a month. Also, I am willing to pay with 50% or even 70% of our income as long as we have food, shelter, and medical care.
Please give me any advise you can think of.
Karla
Are these all private loans??? No federal?? Sallie Mae
Are these all private loans??? No federal?? Sallie Mae does do both.
