Student Loan Debt Flagstaff AZ

A financial aid expert helps a graduate concerned about his student loan debt.

Chase Bank - 8978
(623) 362-3735
8978 West Union Hills Dr # 106
Peoria, AZ
 
Credit Union West
(602) 631-3200
13708 W. Glendale Avenue
Glendale, AZ
 
Community Bank of Arizona
(623) 979-1999
6666 W. Peoria #101
Glendale, AZ
 
M & I Bank
(623) 463-6100
5704 W. Glenn Drive
Glendale, AZ
 
Credit Union West
(602) 631-3200
5811 W. Talavi
Glendale, AZ
 
Washington Mutual
(623) 376-7067
20219 N. 59th Avenue, #A-1
Glendale, AZ
 
Wells Fargo #8281
(623) 537-2460
8281 Lake Pleasant Parkway
Peoria, AZ
 
First International Bank & Trust
(480) 641-1100
1628 N Higley Rd
Gilbert, AZ
 
Desert Schools Federal Credit Union
(602) 433-7215
5104 N. 67th Avenue, Suite F-2
Glendale, AZ
 
Bank of America
(480) 365-7280
8750 E Raintree DR
Scottsdale, AZ
 

Student Loan Debt

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Q:  I have a student loan debt of 38K. I don't make enough money to pay back the required monthly bill.  How can I handle this without accumulating more debt? Thanks for all your help.

A: When you say "I don't have enough money to pay the required monthly bill" for your $38,000 of student loan debt, are you commenting on your original lender (or lenders) minimum payment(s) requested over the regular ten year repayment period?  If you're not already in a consolidation loan product, you perhaps need to be.

Consolidation loans allow you to s-t-r-e-t-c-h out your 38K in debt, and reduce the monthly payments to a figure you will find much easier to handle.  You can have at least twice the regular ten year time period to pay back your debt by using a Consolidation Loan, like the one my company offers.  

Or, you can check with your loan guarantor (generally a state agency or non-profit like USA Funds) to determine if any of your loan(s) qualifies for either a forbearance or even better, forgiveness. If your financial situation warrants, lenders will grant you a hardship forbearance to defer payments until you are steadier on your financial feet.  Consolidation is often the best answer to reduce the size of the monthly bite, but first extinguish all options to reduce your debt (many states offer loan forgiveness for teachers, nurses, police, National Guard, etc.), or defer payment until able.  

 

John D. Wild
Director of Public Affairs
OneSimpleLoan®
www.onesimpleloan.com ...


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