I Can’t Pay My Student Loans

The good news: Yes, you can!

Opportunity rich, cash poor, deeply in debt

New college graduates are opportunity rich. But most are unemployed and so cash poor they can’t even get a small payday loan.  Many are up to their ears in debt before opportunity begins to materialize.

But when it comes to student loan repayment, lenders know who their borrowers are. If you're worried about your student loans, the first thing you should do is call the Default Prevention Department of American Education Services (1-800-328-0355). They can help you even if you haven't missed a payment yet.

Repayment options to meet your needs

There are several alternative payment programs for student loans. Depending on how far behind you are in your payments, you may be able to stretch them out over a longer period and structure them to increase as your income increases. You can also defer payments of principal for a period of time.

You can sometimes obtain a forbearance with reduced payments, an extended repayment time, or a temporary cessation of payments until your career and financial circumstances improve. If you have several student loans, you can consolidate them into one loan and spread the payments over a longer period of time at a lower interest rate. In some circumstances, you may even be entitled to forgiveness of a portion of your debt. ... click here to read the rest of the article titled "I Can't Pay My Student Loans"