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I have a couple of private student loans. The reason being having gone to a private school. I expected to get a descent paying job right out of college. Worse-case scenario, have more than one job for the time being. I stayed in the city where my college was located for a few months and worked part-time at a pizza shop. I had no luck finding a second job or a full-time job. The job market is down. I’ve looked and looked and no luck. My mom requested that I move back home and I agreed, figuring I might have better luck finding a job there. I have not been able to make any loan payments and I am two months behind. My great-grandmother was my co-signer and the lenders keep calling and hassling her. I understand that’s what they are supposed to do, but is there anything that can be done? Consolidation is an option, but there’s no money coming in anywhere. I know that when she signed as a co-signer she made herself liable for my short-comings, but is there another way around this? I would ask my mother for help, but she is no position to hand over money. Please offer me any advise possible. Thank you.

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I have heard that I could go to a credit union that I belong to…problem is, I have bad credit. I know that there are private lenders out there that will help….BUSINESS PLAN IS SOLID. This wine boutique franchise is taking the nation by storm…I want to be in on it..lol..just need to get with the right people that know and understand about starting up a business with nothing but a dream and a plan.

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Yes, it’s true. I fell for the gimmicks and ended up with a few credit cards with all types of debt as well as a student loan. The majority of my debt is school related (books) or auto-repair related (tires, batteries, brakes, misc.). I have been kind of doing the whole college thing by figuring it out myself and wasn’t aware/no one told me student loans were a better choice than credit (my fault) until it was too late.

I’ve graduated from a 4 year institution, one more year of taking classes, then will be headed to California in Summer 2010 to get a house/apt/condo with a friend and get my teacher credentials at CSU San Marcos so I can teach elementary school.

A: How can I REALLY start paying off this debt (aside from starting with paying for everything in cash/with debit like I’ve been doing)? I am scared I will never be able to pay it all off. What are my other options beside debt consolidation which I’ve read can really mess up your credit?
B: With this much debt, what is the likelihood that my friend (has little to no debt) and myself will be able to get a place relatively affordable while we are both going to school (especially if either of our parents can/need to cosign)? We want to live between Oceanside and San Marcos in North San Diego County if that is helpful or possible.
C: Any other financial advice given my situation?

And please, avoid cutting remarks about my “naive collegiate/financial stupidity”. I’m well aware of the consequences for my choices and you should keep in mind I have had little to no help in making these decisions because neither of my parents went to college/are financially savvy. I do feel foolish, and am simply asking for help/advice.

Anything would be greatly appreciated.

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I believe my student loan prior to consolidation was either Stafford or Perkins. Both S + P have programs where you teach schools or volunteer with organizations so that they can forgive a certain portion of your student loan debt.

Does the fact that I have consolidated with Citibank void me from these programs? Do banks, such as Citi, have programs like these? Also, would Citi know what kind of loan I have (Stafford vs. Perkins) or is this a totally new loan only with Citi, since I consolidated? Thanks much.

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11 indicted in car loan fraud scheme
HOUSTON — Eleven individuals were charged in a multi-count indictment for their alleged role in an automobile loan fraud scheme that resulted in millions of dollars in losses to lenders, United States Attorney José Angel Moreno announced Friday.

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I defaulted on a Perkins Loan. I consolidated everything, paid off the Perkins via the consolidation, but that *DEFAULT* is still on my student loan record. The Feds say “Yes, I can still get aid” but a school denied me aid because I defaulted. I’ve looked for answers, but I am getting mixed information. So, do I qualify for future aid, or am I stuck? Again, Defaulted, Consolidated (w/o Rehabing Loan as I didn’t know this was an option), Loan in Repayment, want to go back to school, can I get assistance or not? Thanks!

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Like a fool, I went to a very expensive school that I could not afford, but got the tuition from Sallie Mae. They are a terrible company and I do not want to work with them anymore.

My question is:
What would be a good company to go through in consolidation all my Sallie Mae loans?

I know I would most likely need a co-signer, which I don’t have.
I didn’t know I cout try to re-negotiate the interest rate. They haven’t been the nicest company. After my co-signer forgot about approving one of the loans, he had me (sort of unintentionally) accused of identity theft. It wasn’t the kind of thing that involved law enforcement, it was just with Sallie Mae. I explained the situation to them and they always flat out refuse to work with me on any issue.

I was just on the phone with a rep a little while ago and she asked me why I’m having trouble paying the bill. I explained to her how difficult it is to pay more than a thousand dollars per month while working part-time. She just paused for a second and then asked for the money.

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If you go to grad school and have some other debt such as credit card debt, would you be able to get a student loan to cover that debt? Sort of a debt consolidation, except your getting a student loan to cover credit card debt.

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I consolidated my loans when I was still going to school about four years ago i consolidated three times with the same company, i was looking at my records on the nsds and im sure a mistake was made between the first and second consolidation, as suddenly there is a difference of more than five thousand dollars between my actual loans, and the consolidation total-and 90% of my loans were subsidized, so interest couldn’t account for five thousand dollars. after that second one, my loans got consolidated one more time, now my loans are being held with yet a different company, and this company just tells me they have nothing to do with it, i need to take it up with the company that reconsolidated, i don’t feel that’s my responsibility, for one thing-and what good would it do anyway? If the company who has the loan now doesn’t want to check it’s history and seems happy to hold me accountable, is there any kind of law or some process I can initiate on my own, that would determine liability

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I consolidated stud. loans with Nelnet four years ago. I have reduced my interest rate from 9% before consolidation to 7% after consolidation. These loans are so old (mid 1990’s) that I am close to having paid the original principals before consolidation. Do you think once that the original principals are paid I have some negotiation leverage to reduce interest rate further. I have never been in default. Also, I am a public school teacher at a disadvantaged school. However, I do not qualify for any teacher forgiveness program due to the age of the original loans.

Any suggestions?

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