Anne is Struggling With Her Student Loans and Sallie Mae

“Dear Steve,

I am currently in debt management and I have used up all of my forberance. I cannot make the payments. Half of my take home pay goes to debt management.

Is there any way I can postpone payments rather than forberance or financial hardship? Sallie Mae will not give me financial hardship–they say I make too much gross income to qualify. But, paying half my salary to dept management only leaves the other half for mortgage, etc. I am struggling every month.


Dear Anne,

While you used the term debt management, which typically refers to a credit counseling program or approach, i think what you are struggling with are your student loans. For detailed information about how you can work with your lender on this see “Tiffany is Behind in Student Loans, Late On Other Payments, And Looking For Hope.”

I am becoming more and more concerned about student loans. They are often terminal debts, unable to be discharged in bankruptcy and unable to be afforded. The cost of college has accelerated way beyond the cost of living and a college education today costs a substantial amount of a families income, to the point where it is not affordable.

What was once considered good debt by many, is getting hard to justify in uncertain economic times.


You are not alone. I'm here to help. There is no need to suffer in silence. We can get through this. Tomorrow can be better than today. Don't give up.
Steve Rhode
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