I just can’t repay student loans, what to do?
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I got a loan of $ 50,000 Federal PLUS for my son, but I just can not afford to repay. I am bipolar and have never had a steady job. I make about $ 1,500 a month, not property and not married. The delay now, but how long can that last? I am 57 years and so the SS would soon take. We take them from me? Know that this was a huge mistake and I try to find excuses. Is there anything I can do? “There is something to pass on to my son? Thank you.
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March 8th, 2010 at 12:58 pm
You took it out for your son then he should pay it back himself. Especially if u didnt use any of the loan money. Ususally you can call the people you recieved the loan from and setup a lower payment plan if you have problems paying the amount they ask for every month. Talk to your son about helping you pay for the loan that you got for him..the least he can do is help with it.
March 8th, 2010 at 1:34 pm
It’s better to be in deferment rather than default. Just keep trying to defer it as long as possible. If you end up in default, they can and probably will take your social security from you. I know it sounds cheesy, but become active about this topic with your congress persons and check out the website: http://www.studentloanjustice.org. You’re not alone in this situation.
March 8th, 2010 at 1:41 pm
if your son is any way physically or mentally able to get an 3 more jobs, move in with him and nagg the ….. out of him to pay the loans. if he doesn’t put up signs in his area with his picture on them telling the world what a shafting your son is giving you.
keep working to keep your loans in deferment.
visit ThinkRightNow.com for some help with your issues. got better results than with meds.
visit daveramsey.com to learn more about your money than you have so far.
March 8th, 2010 at 2:26 pm
I don’t think any one thing will resolve your problem here. There is a program that works with local grocery stores. You register your grocery card with their website and a portion of all the purchases go to paying for college or paying off loans.
March 8th, 2010 at 2:54 pm
arent u getting close to old age retirement? You should have let off on the coffee since it makes people dumb , and think about what u were doing, you are now screwed , they gonna send u to collection agency
March 8th, 2010 at 3:18 pm
Like the first person that answered you. Your son should pay it back talk to him tell him that you aren’t able to pay back the loan and that you need him to pay it back. You can contact the school for more a options OR a family member or a friend can help you. Good Luck! Sorry about your situation.