My private loans are killing me financially. Having all private loans transfer to federal can force interest rates low. My private loans have as high as 14%. Allowing federal to manage all student loans also creates income driven repayment. I’m currently unemployed and cannot pay my month payments. If federal programs took over all my student loans they would help in keeping monthly payments afford. This allows a greater financial destressor. Not looking for a payout, only a way to manage me paying off my loans. My highest monthly bill is student loans, making it impossible to rent my own place or even stimulate the economy. Im tied down to private loans. Private loans need regulated.
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Go and refinace your private loans to a lower rate. Why would you ever take out a 14% loan?
You signed onto this debt, you need to step up and pay it off. Doordash & Uber Eats have been decent options i’ve worked in addition to my full time job, in order to expidite paying off debt.
Would highly recommend Dave Ramesy’s Financial Peace University.
Its highly likely your post on here will not ever make a single cent’s impact on your loans.
FPU can turn your life around, it did mine.