Student Loan Debt Flagstaff AZ

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

Johnson Bank
(623) 643-0601
16155 N. 83rd Avenue
Peoria, AZ
 
Wells Fargo Bank - Safeway
(623) 572-2542
20205 N. 67th Avenue, #100
Glendale, AZ
 
Mutual of Omaha
(623) 815-4300
10220 W. Bell Rd.
Sun City, AZ
 
Chase
(602) 589-3300
7003 N. 57th Dr.
Glendale, AZ
 
One Stop Check Cashing Payday and Title Loans
(480) 726-1509
940 N Alma School RD
Chandler, AZ
 
M & I Bank
(602) 863-5802
5504 W. Bell Road
Glendale, AZ
 
College Financial Solutions Group
(888) 830-3544
20325 N. 51st Ave
Glendale, AZ
 
BNC National Bank
(602) 508-3760
20175 N 67th Ave
Glendale, AZ
 
Washington Mutual Bank
(602) 896-1119
4232 W. Bell, #11
Glendale, AZ
 
Wells Fargo Bank- Arrowhead Branch
(602) 547-4731
7510 W. Bell Road
Glendale, 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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