I have student loans coming out my ears. 2 loans from 2 schools for me and one for the wife.
I owe about $28K, can't seem to get the thing paid down.
Is there anyway to get out of or reduce this amount??
Interest is about 8.25%

Any help would be appreciated...

Steve

How much do you pay monthly?

Have you looked into consolidation of the loans, I don't know who is good or not, but there are many that I understand is suppose to help.

You may want to look on the web site clarkhoward.com: Save more, spend less and avoid ripoffs (http://www.clarkhoward.com) they do a lot of finicial advice and have a lot of great links,

Here are some I found

Sallie Mae(R) | Federal student loan consolidation (http://www.salliemae.com/content/landing/federalconsolidation/?dtd_cell=yahoo&PROMO=YAHOO)

Well, actually no way you can get out of it, or many people would do it, and have probably done by filing bankruptcy or letting collection agencies chase them around for awhile.

If you commit to borrowing, then there is only one way, pay it back, get a loan consolidation at a low interest rate and you can actually do that if you look around hard enough.

Actually your interest rate isn't all that bad, and I don't think you will find it that low anywhere, so just stick with it.

My payment is $263.00 a month, I am paying $300, of the $300 maybe 140.00 will go to the principal.

I heard about prosper.com where people can borrow money at lower interest rate than their debt. Just a thought.

Thanks for your answers...

A word of advice for anybody with student loans... DON"T FOREBEAR OR DEFER for any period.


Steve

I owe so much, that I'm considering staying in school half time until I die or become totally disabled... for certain, I won't plan on holding any assets in my name because of the fear that this issue is causing for me!