I recently graduated from Mass College of Pharmacy with a Doctorate of Pharmacy and a butt load of student debt. I owe Sallie Mae around 157,000 and the federal government 87,000. My monthly payments are 3.000 a month which is more then half of what I make.
I can’t find a company that is willing to consolidate my loans from Sallie Mae.. With some of the interest rates being 10 and 13 percent and of course Sallie Mae refuses to make my monthly payment any less then what it is. I’ve contacted numerous agencies trying to get consolidated and have had to significantly cut back on monthly utilities, gas, food, etc just to skim by and pay my loan payment.
My question is how can I possibly get Sallie Mae to reduce my monthly loan payment so that it is affordable? What agencies, in this economy, are taking on loan consolidations for students? What can I do to survive through this debt disaster. It’s not that I don’t think I shouldn’t have to pay any money back, but I didn’t work hard for 6 years to attain a doctorate and live off ramen noodles!
If you have a credit or debt question you’d like to ask just use the online form. I’m happy to help you totally for free.How Can I Consolidate My Sallie Mae Private Student Loan Debt? - Laura by Steve Rhode