Im looking for any help and advice on what to do on my student loans, I have made a lot of mistakes and am at ~$120k in student loan debt with sallie mae at an avg of 14%. I make $1,100 a month. working 35 hours a week, my minimum payment is $1,050. With rent and everything I literally cant pay anything. The $1k payment I have now is the smaller rate for a year, it usually is $3k a month. I would love to make more money and will be looking into a second or a different job but are there any good things to do now like refinancing? If so with who? are there any other programs or anything for help?
Sallie Mae Told Me All I Can Do is Increase My Income…
byu/BenjjjjiPoo inStudentLoans
Posted by BenjjjjiPoo
2 Comments
You can give SoFi a shot but the answer really is that you med to make more money. You only work 35 hours a month?
I can’t offer help regarding refinancing, but you have got to make more than minimum wage. I know the job market isn’t great, but even most retail stores will pay you a lot more than that. I think Target is still around $15/hr and Costco is supposed to pay well for retail if you have one near you. I don’t even think McDonald’s pays minimum wage anymore.
So, yes, at least a second job, but really it makes the most sense to just maximize your income in your primary working hours. And then find a way to work more hours.
I hope someone else can help you with the loan options. Good luck.