Question by young professional: Where can I find debt consolidation for “private” student loans?
I am a young professional that is over my head in private student loan debt and credit card debt. I have found several companies willing to help me with my credit card debt but no luck with the private student loan debt because it is not considered “secured” debt. My interest rates on these loans are over 20% making my monthly payments total $ 700. Because I have credit problems in the past I am considered a “high risk” thus unable to get the banks to reduce my interest rate.
Does anyone know of an agency that is willing to help people with “private” student loan debt? I am looking for some type of debt consolidation that would reduce my interest rate and lower my monthly payment. Please keep in mind these are private student loans not government loans. Thanks in advance!
Selected answer:
Whether you agree or disagree, why not leave your own thoughts below.
A great visual look at the subject of government student loans.
Read: hosted.ap.org Calling people who have defaulted on their student or any other government loan whether it be on the land line or mobile phone will not generate any additional tax revenue when those people do not have jobs and are not paying because they cannot pay. This just goes to show how truly disconnected our so called leaders are.
A question asked by : Are student loans debit just as bad a credit card debt?
I got a buddy who owes a whole lot of money on student loans because he was buying things that had nothing to do with school. He build it up really high is this basically just as bad as credit card debt? This guy is honestly not me im just curious because i have minor credit card debt who is more screwed me or him?
The top answer:
Answer by timothy p Banks view student loans as good debt. The interest tends to be low because they are guaranteed and the payments can be strung out for years so the payments will be low.
That being said, it is still debt. You are spending money that you don’t have yet. Low interest is still interest. It is almost impossible to get out of paying them back as well.
How about adding your own answer to the comments below!
Some excellent information about government student loans is provided in this short video.
Wisconsin Republican Congressman Paul Ryan was asked why he wants to cut Pell grants by a college student struggling with tuition. His response was basically that students should simply work more and take out loans. Occupy Wall Street movement. Ana Kasparian and former prosecutor Steve Oh discuss on The Young Turks. Watch more TYT college stories here: www.youtube.com The Young Turks on Current TV: current.com The Largest Online New Show in the World. Google+: www.gplus.to Facebook: www.facebook.com Twitter: twitter.com Support TYT for FREE: bit.ly Video Rating: 4 / 5
Another great video on the topic of federal student loans is included and we would welcome your comments once you have watched it.
According to the Federal Reserve Bank of New York, Americans owe more than a trillion dollars in student loans. It’s a staggering figure, considering that the US Census Bureau reported in 2010 that the combined credit card debt for this country is only 886 billion dollars, so student loans take the top category as the source of the most debt for the average American. We’ll take a look at how we got here.
Before going any further in your search for information about private student loans take a look at this short video.
Student loans. Joke of the century. The predatory college industry designed to keep you in debt and make lenders and ceos rich. Private lenders have “power that would make mobsters envious” as without any bankruptcy protection, private lenders have abusive tactics and practices. They would rather see you default as that is more profit… Before you say “bankruptcy rights would make private student loans no longer an option” I say: 1. They existed previous to 2005 before the law changed 2. Good, this will force colleges to lower their ridiculous tuition costs.
If you are looking for a video about federal student loans then look no further because below you will find a great video I ran across just the other day.
Student loan debt consolidation – Consolidate your student loans or college loans to lower your monthly payment. Student loan debt consolidation services for federal and private students. Federal debt consolidation loan is an easy and complicated way to repay federal student loans. Federal…
Before going any further in your search for information about federal student loans take a look at this short video.
By carefully choosing student loans, grants, and scholarships as part of your entire college financial aid package, you can avoid going into heavy college debt. Kimberly Palmer, senior editor for US News, discusses financial aid tips to help in paying for college and minimizing student debt and the differences between private loans and federal college loans. For more college financial aid advice go to www.usnews.com
As the cost of a college education continues to increase at a rate of about 9% annually—nearly three times the rate of inflation—more and more college students are taking out loans to cover tuition, fees, and other expenses. Median undergraduate student loan debt is currently close to $20,000, and graduate students end up with an additional $32[Read More]
Failure to pay back your student loan can mean having your wages garnished, tax refund intercepted and your credit damaged. Take Control of Your Student Loan Debt presents simple, effective ways for you to get out of student loan debt. The book clearly explains: • what the repayment options are • how to postpone repayment • h[Read More]
