How do students out of school pay off their student loans?

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I was wondering how do student that graduate and pay off their student loans. I will be graduating in two years for BA in Computer systems and will owe close to 95K. With current bills (mortgage, car loans, day care, utility bills, food etc) how do people manage to pay all that plus their second mortgage (student loans) or do they?

Im starting to wonder if this was a good investment to begin with. This will be one of these choices eather keep my home or get rid of it live in the car and pay the stundet loans off!!!

5 Comments
  1. Reply
    Gomez
    April 29, 2011 at 11:42 pm

    Yea as of right now im in 20k debt which I know isnt much but yea I’m curious as well , so i’ll be eyeing this answer to catch some info

  2. Reply
    David
    April 30, 2011 at 12:41 am

    the loan paper will have the company number so u can tell them ur situation and try to work out a deal wit them untill u qet more money …. im payin like $ 20 a month for minesz and thatsz like 8k i have to pay

  3. Reply
    Kelly P
    April 30, 2011 at 1:04 am

    Bless your heart, that’s a lot of debt. You can typically defer start of payment for your loans for 6 months after you graduate to allow a little time for you to get a job. some jobs will help with your student loans and also some government jobs that you go into will forgive up to half of your students loans if you work x amount of years. My friend is a public school counselor and a lot of her debt was written off I think at the 5 year service mark. I don’t know if national guard service will pay school loans through the GI bill or not, I think it will. The one thing you don’t want to do is not pay your student loans, it’s federal money and they will come after you with government protections that other creditors don’t have. Best of luck to you.

  4. Reply
    Pat
    April 30, 2011 at 1:08 am

    Have you contacted the student loan creditors to inquire about altered payments? maybe they will lower your payments or interest rate. maybe they will allow a deferment.

    concerning 2 mortgages, have you contacted your bank about refinancing both mortgages in to 1 mortgage?

  5. Reply
    ted tron
    April 30, 2011 at 1:13 am

    Do you attend an out of state school? Or one of those for profit schools? That’s a huge amount of money, maybe you should consider transferring.

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