The Near Future is Looking Scary
March 12th 2008 11:15
I wrote that my plan was to pay off my car at the end of April/beginning of May and free up $155 to be able to make student loan payments. I thought I would be able to consolidate the federal student loans I had and then have just one monthly payment that would be less than all the payments combined.
Well, in my searching, most places require at least $20,000 worth of loans to consolidate. I'm $5000 short of that.
What I really don't understand, is that when I tried to consolidate the student loans I had prior to Fall 2006, some site did let me consolidate (either sallie mae or nelnet) but only let me do one of my loans. But now the sallie mae website says I need $30,000 worth of loans. And I can't find it on the nelnet site at all.
The other problem is, if I can't consolidate, and my guestimating is correct, then I will owe more every month than I make. (Only by about $54 if the guesses are correct, if not then it will be worse).
Here are the payments I do know:
$50 - the one in repayment right now
$40.25 - shows up on nelnet site
$69.30 - also shows up on nelnet site
Ones I've guessed:
$70 - this loan is close to the amount of the $69.30 loan above
$30 - this loan is only $1142, so I'm not really sure how much it would be
$100 - this is probably a very low estimate. (Which only makes things look worse). I set this one apart because it is two private loans from sallie mae and I can't consolidate it with the others.
Add all those numbers up and I get $359.55. Almost half of what I bring in each month.
I think I'm screwed.
Well, in my searching, most places require at least $20,000 worth of loans to consolidate. I'm $5000 short of that.
What I really don't understand, is that when I tried to consolidate the student loans I had prior to Fall 2006, some site did let me consolidate (either sallie mae or nelnet) but only let me do one of my loans. But now the sallie mae website says I need $30,000 worth of loans. And I can't find it on the nelnet site at all.
The other problem is, if I can't consolidate, and my guestimating is correct, then I will owe more every month than I make. (Only by about $54 if the guesses are correct, if not then it will be worse).
Here are the payments I do know:
$50 - the one in repayment right now
$40.25 - shows up on nelnet site
$69.30 - also shows up on nelnet site
Ones I've guessed:
$70 - this loan is close to the amount of the $69.30 loan above
$30 - this loan is only $1142, so I'm not really sure how much it would be
$100 - this is probably a very low estimate. (Which only makes things look worse). I set this one apart because it is two private loans from sallie mae and I can't consolidate it with the others.
Add all those numbers up and I get $359.55. Almost half of what I bring in each month.
I think I'm screwed.
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Comment by Mountain Fog
Infognito
Screen Trek
QUOTE ME NO QUOTES!
ummm...my personal solution, that is, the one I have been using in my own life is, lotto....no have not won yet...but trying...and frankly, it is my only hope!
So send me good luck and wishes, and if I win big, I'll pay your fees and set you up!!
Howzzz that for a deal???
cheers
fog
Comment by Ashley
College of Cash
I wish you all the luck I have! If I ever win I'll remember you too!
Comment by Mountain Fog
Infognito
Screen Trek
QUOTE ME NO QUOTES!
We are like naughty people who have discovered the secret of life...anyhoo...great!!! We are now locked into a persoanl attack on poverty, that being our own!!!
So, let us both cross fingers and BUY MORE LOTTO!!!
YIPPPEEEEEEEEE!!!!!!!!!!!!!!!
cheers
fog