Like literally hundreds of others I’ve been reading about here, I’ve been dreading this day.
I’m a former teacher that just got a well paying job this year after leaving. I now make about $65,000/year. My estimated payment for my income payment plan is very high. I knew it’d be higher than what I used to pay, but I’m very scared right now.
So what happens if I physically can’t afford this? What options do we have? I WANT to pay my loans back, but I truly can’t afford what I’ve been quoted.
So…what happens if I can’t afford my estimated payment?
byu/JimintheN0rth inStudentLoans
Posted by JimintheN0rth
1 Comment
If you just got the higher paying job your payment should be based on the old income. But we need to know your balance etc to see if you have other options. Worse comes to worst you ask for forbearance but that is a very temporary solution