What do i do if i don't have money to pay back Student loans? (rent, credit)
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Hey I went through some college at DeVry and i only had 5 classes left before i could achieve my degree, but some things came up in my personal life and i had to go back to work full time and it doesnt look as if i can go back to school for a while now....i deliver pizza and make enough to pay my rent and car and phone bill but i dont have credit cars or a bank account because i have no savings of any kind and dont have credit cards because i really dont have the money to be spending on things with credit .....but i owe about $40,000 in student loans and i really have "no" extra money at the end of each month to save for anything.
The reason i started college was to get out of being poor and to find a career that would allow me to do that .....but now i am in the hole and i just dont have the extra couple 100 dollars a month to give to the loan companies, so i just try to avoid thier calls everyday and ignore the bills because i just cant afford it "at all"....i was struggling before trying to get a better life and now that i tryed circumstances made it to where i cant complete that goal for a while right now so im stuck......anyone in a similar situation or anyone have any advice?......Should i just keep ignoring them since i cant afford the extra expense or is there a program that can erase a debt for hardship?......or what should me or people like me do?
I don't know what kind of loans you took out for your education-- were these private loans? If you took out Stafford Loans then you could always defer until you are ready to pay them. My cousin completed her undergrad with about 20k in loans. She had only started paying them back for about 6 months until she decided to return to school for an add'l degree. She had the first set of loans consolidated and deferred (or in forebearance?? I don't remember which) until she completed school. Maybe you can ask them to consolidate the loans and then place it in a deferment until you're ready. I don't know the ins and outs of how this works but I think it's worth looking into.
I don't know what kind of loans you took out for your education-- were these private loans? If you took out Stafford Loans then you could always defer until you are ready to pay them. My cousin completed her undergrad with about 20k in loans. She had only started paying them back for about 6 months until she decided to return to school for an add'l degree. She had the first set of loans consolidated and deferred (or in forebearance?? I don't remember which) until she completed school. Maybe you can ask them to consolidate the loans and then place it in a deferment until you're ready. I don't know the ins and outs of how this works but I think it's worth looking into.
thanks for the response......i did take out Stafford loans and perkins loans, and some others and i got some grants to that helped but didnt cover everything.......i was wondering what people think about not paying them back at all and what is the actual penalty if you dont.....is it years in jail? or a couple months?.......and i just wonder how they can keep track of "everybody" with my problem......there are lots of people i know that cant afford the loans and have avoided the loan people just like me.....just thought id come on here for a nuetral opinion or some nuetral advice
You can defer them for a while. If you don't pay them back it will be a mar on your credit for pretty much forever AND they can garnish your wages now. They will work out a payment plan for you as well. In the mean time, since you were so close to your degree, start applying for jobs in your field and see what happens. They may pay for you to complete your degree even.
Arrange to pay what you can. But pay regularly. Don't skip. You must try and pay it off or you will never get out from under the debt.
With so little more to go, can you take night classes or correspondence school course to finish a little more? It's a shame to be so close and not finish. For someone that close to having a college degree, delivering pizza doesn't seem like a good thing as a career choice.
I know of a co-worker that arranged to take long lunch hours and finished her degree by taking one class each semester during lunch. It took a while, but she wanted to finish.
My situation is a little deeper than it seems.......I had a good GPA until i got in this one professor's class.....i failed it one time then i took it with another professor and got a B+ in the new professors class, then i was doing fine and after a semester or two i had to take another class with the same professor i failed with the first time and i failed him again......his teaching style i just didnt get....and my GPA went down to 2.3 because of this same professor......and i passed the second class that i failed with an "A" when i had another professor again, so this guy screwed my GPA up really bad....and i am just the type of person that people dont listen to when it comes to explaining things when it counts...and i spoke with the professor there before and by his attitude i know he wouldnt help to change things with my GPA.........and i cant really do night classes or day classes because i make enough to pay the billls with this pizza job .....and i dont have the skills to get a job that pays more at this time and ive applied other places but things didnt work out.....so i need this job....and i go to work around 6 pm and get out usually at 4 or 5 in the morning which makes it really hard to find the time to go to school.......i am afraid to work somewhere else because even though im not making a killing right now in the money department....i just dont think i could make it at another job that pays 7 or 8 dollars an hour......i am stuck in a situation where i am a victim of generational poverty in which i live in a nice community now by my mothers choice but i am stuck with her from circumstances in my past......i have just never been able to get there out on my own with the jobs ive had.....and my mother was poor all her life and finally has money to live in a 900 dollar a month place and i need to help her with rent because she does need help to live in a decent area at her age.......where else can i go? .....i cant leave her with these bills at this time?......i had a roomate before and payed 400 a month there but he was kind of a pig and i couldnt live in filth so i chose to live back with mom and at the time we all had a house in Deltona but my bro and my grandmother bailed on us so me and my mother were stuck with the high rent and i had to quit school to help her then we moved out to Orlando to be close to her work so i am stuck.....i dont have reliable friends to trust in which i can live with
Maybe you can try Devry Online. See if you can take the minimum number of classes just to get by. Are you still eligible for grants? With only 5 classes to go, it really does seem too bad that you couldn't complete it.
What were you going for? Did you have a specific occupation you were thinking about after graduation? Can you think of something related to the job but on a entry level or limited skill level?
Please don't take what I am going to say as criticism, but it seems to me that you are looking for reasons to why you can't do more. Try looking for reasons why you CAN do more. Sure, you couldn't understand the teachers way of teaching, but that's not the reason you're delivering pizzas.
The things that happened to you, are in the past. Forget them and try to figure out ways to make progress in your life. And that includes letting your mother fend for herself for a while. Cheaper houses may not be as nice, but if it's all she can afford, then that's it. If you get a decent career started, you could do more for her. It would be an investment in the future for both of you.
I would strongly recommend keeping your loan situation within the U.S. and to contact the entities you've recieved the loans from. You may be surprised to discover that they are familiar with situations like yours and have some proven paths for restitution. To hide from the situation won't make it go away and some of your fears may not actually be true. Give it a try. If you remain afraid and your situation hasn't any hope then you can go back to looking over your shoulder and avoiding their mail. If you don't get this straightend out then your debt is for an education you can't use.
Hey I went through some college at DeVry and i only had 5 classes left before i could achieve my degree, but some things came up in my personal life and i had to go back to work full time and it doesnt look as if i can go back to school for a while now....i deliver pizza and make enough to pay my rent and car and phone bill but i dont have credit cars or a bank account because i have no savings of any kind and dont have credit cards because i really dont have the money to be spending on things with credit .....but i owe about $40,000 in student loans and i really have "no" extra money at the end of each month to save for anything.
The reason i started college was to get out of being poor and to find a career that would allow me to do that .....but now i am in the hole and i just dont have the extra couple 100 dollars a month to give to the loan companies, so i just try to avoid thier calls everyday and ignore the bills because i just cant afford it "at all"....i was struggling before trying to get a better life and now that i tryed circumstances made it to where i cant complete that goal for a while right now so im stuck......anyone in a similar situation or anyone have any advice?......Should i just keep ignoring them since i cant afford the extra expense or is there a program that can erase a debt for hardship?......or what should me or people like me do?
You should call the lender immediately! Like today. Tell them your situation and see if they can work with you.
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