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dino-deb1188 karma

I have about $120,000 in student loan debt (1/5 is federal, the rest is private), and have been making my payments on time since they started in 2012 (which are now at $1,300/month). I have contacted 4 different companies about refinancing, and have been denied by all of them because I don't make enough in regards to what I owe. I have a full-time job (40K), and 3 part-time jobs (approx $500/mo). I have no other debt, but I'm at a loss as far as getting a handle on this. I'm paying the lowest amount possible, but still struggling. I'm living relatively comfortably, but I don't have a car, I live with a roommate, and most of my food comes from the free leftovers that I get from my catering job. I'm looking for a better paying full-time job, but my small college town is very limited. I have $113 in my savings account, and I just feel like I am going to be stuck until 2028 when my biggest loan is paid off. I know I'm not special and that there are people in much worst situations than me, but I still need help. Do you have any advice that you can give? Anything at all?

dino-deb28 karma

I went to Indiana University as an out-of-state student. At an average of 30K a year, that's $120,000. I got some minor scholarships and I always had a minimum of 2 jobs while I was a student. However, I was also involved and had an amazing college experience because of it. Even if I could change my past decisions, I wouldn't. Besides, regret is not a healthy thing to hold onto, which is why I am trying to move forward and figure out my future with the knowledge that I now have about debt.

dino-deb4 karma

Thanks for the ideas, and the variations of these ideas. I'll definitely look into these methods to see if one will work for me!

dino-deb4 karma

None of it was for personal living expenses. I paid an average of 30K a year for 4 years for out-of-state tuition at a state school.

dino-deb3 karma

(This is not on topic at all, but I appreciate your decision to say "his/her"...silly, I know, but with such a depressing conversation topic, it's the little things. haha)

And I do have a couple that are variable, but I think my highest interest rates are fixed...so...yay for my loan that has a 10.63% interest rate not increasing? :P