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Originally Posted by Tillys_mom  I don't think we would ever be able to pay it off in 5 or 6 years. I'm not even sure how long they are putting us on but before consolidation with all his student loans our payment will be $1,035 a month. With all our other bills we can't afford that. When my husband called the Department of Education they told him he can't do a deferment longer than the six months he is already in. I dont know if this is something new or not  I would love to get these stupid loans paid off in 10 years but hubby keeps saying 30, (one of the many many reasons again to prove how our families view financing lol). I told him I don't want to be 50 and still paying on them, by then our son, (and maybe other children), will be out of college. My husband is all for live today then when you can't pay your bills worry about it then. I'm the planner. If I can see now that in six months we wont be able to afford to live I want to fix it now. LOL  Men! |
They also have payment options that change the payment amount. I know I did this for the first few years that I paid mine. Mine wasn't near the amount that you have to pay, but I paid about 200 a month when I was supposed to pay around 350. They have many different options. You should call and talk to them and explain the situation. They have always worked with me on this. I got a deferment for a second time a while back for 3 months with out any reason for it. It was called a general deferment. Just talk to someone and don't hang up or give up talking until they help you lower the payment. They have many ways to do it, but you have to inquire about them, they sometimes will not tell you unless you ask. They also have income based payment options and income based deferment.