student loan?
Thursday, March 4th, 2010 at
3:52 pm
jk j asked:
what is one supposed to do when s/he has a lot of student loan but s/he would like to work in some other country for a year or two? is that an option for people with student loans? the pay is another country may not be enough to pay any part of student loan
what is one supposed to do when s/he has a lot of student loan but s/he would like to work in some other country for a year or two? is that an option for people with student loans? the pay is another country may not be enough to pay any part of student loan
Tagged with: Lot • People • Student Loan
Filed under: Student Loans
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Sure, lots of college graduates go overseas after graduation. For instance, people who pursue opportunities in the Peace Corps.
If you are working in a field with low wages you can get a loan repayment program that is income contingent. That is when they base your payments off of your income so they aren’t a burden.
I say go for the opportunity to work abroad.
There are two sources for student loans — the federal government and private lenders. In order to obtain most federal student loans, you will first need to file the Free Application for Federal Student Aid (FAFSA). In mostyou can combine all of your eligible federal student loans into one loan with a Federal Consolidation Loan. Consolidating also locks the interest rate you pay on your loan.
This person can also look into further deferment of payments (you do get some time after you finish school to start repaying) or forbearance for hardship purposes. They need to contact their lender directly for their options and the sooner it’s done the better so there’s time to work out a good plan. I would probably opt for some sort of payment plan that started out small and had the payments increased over time so that I was at least paying on the loans.
Yes,
Many people do this.
This is normally perfectly acceptable.
I found a website that has a ton of information regarding student loans. Take a moment to check it out, it might have just the info you are looking for.
You can visit the website by clicking on the link below.