More and more student loans are becoming the most problematic debt anyone can own. At some point in the past couple of decade student loans when from a leg up to financial slavery. There is a lot of information out there about how to deal with troublesome student loan debt and payments. But I thought I’d put together the ultimate ... Read More »

“Dear Steve, I currently have a student loan that is 27 years old. I was 17 years old when I was offerred this loan, and really unaware of the rate of interest, penalties, etc. I divorced from my husband at the age of 19 (due to the fact that he was physically abusive), and in the divorce decree, it was ... Read More »

“Dear Lewis, I’ve got about $80,000 in consolidated student debt on the IBR plan. Good job, making about $48,000 a year. But since I’m not a doctor, lawyer, or wall street guy, I’ll never reduce the principle, and 25 years is a long time. Would bankruptcy clear this? And if so, then why not just go for it? Not like ... Read More »

“Dear Steve, Single Mom. In debt up to my eyeballs. College loan from 1985 just wont go away. Originally owed 12, 400, approx. Now I owe over 24,000. I have exhausted all options to get help. I am on a graduated repayment program. The only thing left for me. This means my payment will go up every year until its ... Read More »

“Dear Steve, I defaulted on a student loan and need to get back on my feet. It has CRUSHED my credit (currently at 520) so i do need to improve. How does the new student loan reform affect those that already defaulted? Can those with a defaulted loan get some relief and improve their credit rating? Jennifer” The Answer Dear ... Read More »

“Dear Steve, I graduated from four years abroad in 2009 with about $180,000 in Private Student Loans with Sallie Mae. On top of my federal student loans and loans sold to the Department of Education, I am currently paying almo0st $1100 a month, on a “2 year, interest only” repayment plan. Sallie Mae’s only other options for me after hours ... Read More »

“Dear Steve, My wife returned to school several years ago and took out some student loans. Those loans were eventually sold to aes. One was for about $10,000 and the other for about $8,000. She has been paying the minimum statement for five years, (about $9,000) but the amount owed hasn’t decreased! The payments are for about $150 a month ... Read More »

“Dear Steve, I enrolled in college and the student loan money was easy to get. Now the money is due and we are being crushed by the payments of the student loans. I have close to 70k in student loans and my income is not going to be substantially impacted by my degree. We put our credit cards with a ... Read More »

“Dear Steve, I have recently filed for bankruptcy. After the discharge I found out about a student loan that is now in collections. (I assume the collections agency was able to locate me due to the bankruptcy filing.) The problem is that the social security number the collections agency has for me is incorrect (off by one number) which I ... Read More »

Lou “Dear Steve, Asking for my guy. He’s currently about $50,000 in debt between his student loan, car loan, and using his credit card to pay bills while he was out of work. The card is a bit over $6k, car is between $10 and 11k, and the student loan is around $34k. He currently makes about $30,000 a year ... Read More »

Veronica “Dear Steve, Gawd I hate being in this situation, but I am 45 years old and almost $70,000 in debt. Most of it is from student loans, IRS, and other loans. No credit cards. I’ve heard that you cannot file bankruptcy with IRS or Student Loans debt. Was wondering if this is true. If so, what other options should ... Read More »

Patch “Dear Steve, My husband and I have alot of debt due to my student loans that are almost 100,000, and then of course we have a mortgage, car payments and the household bills. I feel like we are drowning and our savings is dwindling down fast. How can we get this under control before we are totally broke? Patch” ... Read More »

The IBR Info site at www.ibrinfo.org appears to be a good source of information on income based repayment options and student loan forgiveness programs. For those working in public service jobs, the site give you information that can help you to eliminate your student loan debts based on your job. Read More »