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Is There a Good Way to Get My Private Student Loan Rates Under Control? – Samantha


“Dear Steve,

I am virtually debt-free, except for a HUGE pile of student loans (around $55K in bhoth public and private) that I can’t seem to make a dent in. I’ve consolidated the public loans but the private loans make my debt-to-income ratio seem out of control.

I’d love to get tips on how to better manage the student loans – are there any ways to reduce the amounts due, or control the interest rate? As I mentioned above, I’ve consolidated the federal loans, but the private lender seems unwilling to work with me.

Thanks SO much!


Dear Samantha,

I would absolutely love to tell you that there is some magic solution to your private student loan issue, but there isn’t.

Your only real option would be to find a private student loan lender that would consolidate them for you. See I’m Drowning in Private Student Loans. – Kathy for a list of some that do/did.

Private student loans can really be sucker debts. They pretend to be “good debt” but can’t be discharged in bankruptcy and can pursue you till you die. My best advice to anyone considering taking out private student loans for college, be careful.


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.

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About the author

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.

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