I’m Drowning in Student Loans Over My Head. – Thomas

“Dear Steve,

I have a huge student loan debt that I can’t seem to make head way on.

I have a $100,000 is federal loans that have been consolidated with Direct loans and are now with Sallie Mae and $15,000 in private loans.

My private loans i can handle making $124 a month payments.

My federal is what is killing me. I bring home $1200 every 2 weeks after taxes. I’m the IBR plan, by the time i’m done paying bills I have just enough let over to pay the IBR plan I’m on. My payment doesnt even cover the interest ever month and the loan keeps going up. What happens after the 25 years is up? What can I do to help my situation?


Drowning swimmer

Dear Thomas,

Please read The Ultimate Guide to Dealing With Student Loans You Can’t Afford.

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


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.
Damon Day - Pro Debt Coach

Steve Rhode
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