Student loans

Does anyone have advice for out of control student loan debt? I can’t afford the monthly payment no matter what plan they offer.

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Are you able to get them deferred? While that’s not going to get them paid off, it will give you time to get in a better situation to make the payments. Did you request an income based payment? A lot of times, depending on your income, that can be as low as $0 a month.

If you don’t qualify for income based payment because you make too much money, then you may need to take a look at your finances and see if there is anything you can stop in order to make the payments.

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Yes, I second @jeremym. IB plans have saved me and are more than reasonable. The interest continues to build, and so the debt goes up. but for the time being, at least you can make payments and be in good standing. If you are in default, there is a process you have to go through in order to be eligible for IB plans. I recommend that you go through the process. It may be a rough 4 months (if I remember correctly), but again, it is worth it.

Income Based is a great concept unless you live in an area with a high cost of living. I live in Seattle, my rent alone is half of my take home pay, not including sewer, water, garbage and electric.

Because i need public transportation I live in the area I work and looked for an apartment for a year before finding one I could “afford”.

Scary out here!