[level1_traumaRN]

Hey everyone!

I'll first tell you a little about my situation! I have 50K in student loans (private) loans. I can't afford my payment hardly we just bought a new house and my interest rate on the loans is 10%! It keeps going up. I am making my payment of 560.00/month on interest only! My hospital does not offer any kind of payback program. I just really didn't know what else to do besides to ask you all if you know of ANYTHING that can help me. I literally work 5 12 hour shifts per week and one more 8 hour shift per week. I am overworked, I am going to school full time as well to get my bachelors degree and other classes for my masters degree. Please help...I'M STUCK!!!

[deswri]

What is a HRSA grant?

[AmyInMI]

If you are still attending school you should be able to get the loan deferred until you graduate. I would call the company and see if there is any way to decrease your interest rate, especially if you have a good history with them. Good luck!!

[fultzymom]

You should check into Student Assistance Foundation and see if you can refinance through them. My interest rate is like 3%. I pay $365 per month for 15 years on my hubs and mine together.

[ExCorporateRN]

First, I would try to defer your student loan payments because you are a full time student. You can also defer if you are part time.

Second, I would refi your loans through the contact info posted above.

Third, continue to make payments even though your loan is deferred but make small amounts like $100 or $200/month to keep knocking down the principal and to make the payments smaller in the future when you are working fulltime and out of school.

[kizzykatlove]

Originally Posted by level1_traumaRN

Hey everyone!

I'll first tell you a little about my situation! I have 50K in student loans (private) loans. I can't afford my payment hardly we just bought a new house and my interest rate on the loans is 10%! It keeps going up. I am making my payment of 560.00/month on interest only! My hospital does not offer any kind of payback program. I just really didn't know what else to do besides to ask you all if you know of ANYTHING that can help me. I literally work 5 12 hour shifts per week and one more 8 hour shift per week. I am overworked, I am going to school full time as well to get my bachelors degree and other classes for my masters degree. Please help...I'M STUCK!!!

well your not stuck alone.. i'm in the same boat. i consildated my loans thru nelnet and still have big payments.. i'll be paying until i am 75 lol... i am going to see if they can make my loans according to my income... i hear your loans payments shold be nomore than 10% of your income... well mines alot more than that... i am working alot just like you and the payments are killing me. i appreciate all your advice i am reading the posts hoping to get some ideas. thank you all for your support... if only i could defer for 20 more years..lol

[anc33]

Deferring your loan really won't help much as the interest will keep accruing so the payoff will be even more daunting. Since you are in school can you apply for federal (subsidized or unsubsidized) loans which have a much lower interest rate (6.8%). Also, have you consolidated your loan. That should knock a few points off at least. Other than that , you could try to get a lower rate home equity loan to pay it off and the interest will still be tax deductible.

[nurz2be]

Originally Posted by level1_traumaRN

Hey everyone!

I'll first tell you a little about my situation! I have 50K in student loans (private) loans. I can't afford my payment hardly we just bought a new house and my interest rate on the loans is 10%! It keeps going up. I am making my payment of 560.00/month on interest only! My hospital does not offer any kind of payback program. I just really didn't know what else to do besides to ask you all if you know of ANYTHING that can help me. I literally work 5 12 hour shifts per week and one more 8 hour shift per week. I am overworked, I am going to school full time as well to get my bachelors degree and other classes for my masters degree. Please help...I'M STUCK!!!

My advice is to consolidate your loans with this company, http://loanconsolidation.ed.gov/. They are called Direct Consolidation Loans and are run by none other than the federal government. You can choose to consolidate with them based on your income, they DO NOT include overtime in figuring what your payment base will be. This is called the Income Contingent Plan. They guarantee rates will never reach over 8.5 percent. You ask how I know this, I have used and am using them. They are a complete god send. Good luck.

[turbohound]

Great info, thanks

[level1_traumaRN]

Originally Posted by nurz2be

My advice is to consolidate your loans with this company, http://loanconsolidation.ed.gov/. They are called Direct Consolidation Loans and are run by none other than the federal government. You can choose to consolidate with them based on your income, they DO NOT include overtime in figuring what your payment base will be. This is called the Income Contingent Plan. They guarantee rates will never reach over 8.5 percent. You ask how I know this, I have used and am using them. They are a complete god send. Good luck.

question...does this include private student loans..because that's what i need to consolidate.