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Huge debt question

Started by buckeye898, April 24, 2016, 03:26:09 pm

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First timer to the site ...

Not sure where to turn. Any advice would be appreciated.

After working for a few years as an RN, I had to take 5 years off to care for my child who was born with a disability. I am a single mom and had no choice. I am back working 24 hours per week now. During the years I was not working, I deferred student loans. I'm saddled with a huge debt now, working part-time and still managing my child who is 12. I would love to work full time but with her doctor appointments and needs, it's nearly impossible.

Any thoughts on any programs out there that could help me manage this? I am so frugal and don't mind being so, but I have to find my way to at least lower these killer payments so I can give my daughter all that she needs.

Thank you so much!


The best plan of action is if you have Federal loans, to get on an income-based repayment plan. This will lower your payment to 10-15% of your discretionary income, and will seriously help.

You want to call your lender and see if you qualify for IBR, PAYE, or RePAYE.