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Home > Ask The Get Out of Debt Experts > I Went to School to Become a Psychologist But My Student Loans Are Too Much to Deal With. – Steve

I Went to School to Become a Psychologist But My Student Loans Are Too Much to Deal With. – Steve

“Dear Steve,

My wife and I have managed to amass over 300k in mostly student loan debt. She has a good job as a school psychologist, and I am currently taking care of our 2 young children (6 and 1). I went to school to become a psychologist , but was ultimately forced to stay at home with our children or risk even more debt to pay for childcare AND tuition. Our debts have increased by about 100k in the last year as we have been unable to pay down our debts. We spoke with a bankruptcy lawyer about a year ago and he didn’t offer much hope, but informed us that we could file for bankruptcy at any time. He let us know that our student loan debt could not be discharged in court. I will be 40 in two years with no savings, a load of student debt, a career that initially doesn’t cover the costs of childcare a incomplete degree and a dream of being a therapist.

Is there anyway that I can settle these debts, complete my degree and see my dream realized? If so, Can you give me a roadmap?


Dear Steve,

Possibly, yes. But first I need to know what kind of loans you both have. Are these government backed student loans or private student loans. It makes a huge difference when it comes to solutions.

Since you are answering questions for me. What other kind of debt do you have?

Please post your responses and follow-up messages to me on this in the comments section below.

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About Steve Rhode

Steve Rhode
Steve Rhode is the Get Out of Debt Guy and has been helping good people with bad debt problems since 1994. You can learn more about Steve, here.
  • Steve

    Hi Steve, thanks for your quick response. Our debt breakdown is something like this: 150k private student loans, 100k federal student loans and another 50k in credit card debts. Thanks again for your help

    • Steve

      Oops, I didn’t really want my photo and all posted -but I can’t seem to edit it. Can you remove it Steve?

      • Steve Rhode

        It appears you have that photo associated with Disqus, the comment software. It’s not associated from my end.

    • Steve Rhode

      Quickly. On the private loans you are screwed. I know of no program to modify or adjust those loans.

      On the federal loans you have some good options. Check out

      Let’s start with the basics.

      I’d also like for you to look at my free How to Get Out of Debt Calculator to review your options on the credit card debt.

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