Student Loan Debt Flagstaff AZ

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

Meridian Bank
(602) 212-3999
1675 N. 95th Ln.
Phoenix, AZ
 
Alhambra Credit Union
(602) 246-5120
7339 N. 35th Ave.
Phoenix, AZ
 
Bryan Family Ltd. Partnership
(602) 725-0755
6820 W. Redfield Dr
Peoria, AZ
 
Washington Mutual Bank
(602) 896-1119
4232 W. Bell, #11
Glendale, AZ
 
West Valley National Bank
(623) 535-2460
12725 W. Indian School Rd
Avondale, AZ
 
Community Bank of Arizona
(623) 979-1999
6666 W Peoria Ave Ste 101
Glendale, AZ
 
National Bank of Arizona
(928) 204-1060
1470 W State
Sedona, AZ
 
Wells Fargo #9901
(623) 875-0720
9901 W. Thunderbird Rd
Sun City, AZ
 
Wells Fargo Bank- Arrowhead Branch
(602) 547-4731
7510 W. Bell Road
Glendale, AZ
 
United First Financial
(602) 339-7555
7942 W Bell Rd. C5-499
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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