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  #1  
Old 10-31-2016, 03:25 AM
esuke09 esuke09 is offline
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Unhappy Advice for tackling student loan debt

Hi,

I have a question about how to best approach tackling my student loan debt. I have been good with payments, but feel like I'm going nowhere with them.

I currently have one credit card that has $1600 on it. I have a student loan of $47000 at 6.8% interest. I have my bachelors but didn't get an education degree as intended, and so I currently work as a Paraprofessional making around $15000 a year. I'm just got married, and my wife makes the same amount and she came in with no debt.

There's no way we can afford the type of payments we'd need to make to significantly pay off my debt, at least on our salaries. We found a program that we could pay cash for to get our teachers certification and would add at the least 15,000 to each of our incomes.

I'm scared about spending more money on education though, just because of how much I spent on undergrad. What advice would you give me? We have both maxed out our time with multiple jobs and I'm struggling at how best to approach my student loan debt. I feel like it's a mountain I will never reach the top of. HELP!
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  #2  
Old 11-11-2016, 02:10 AM
Paul@GFS Paul@GFS is offline
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Default Re: Advice for tackling student loan debt

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We found a program that we could pay cash for to get our teachers certification and would add at the least 15,000 to each of our incomes.

It's really important for both of you to ascertain your financial situation and get things back on track. Find out ways in which your teachers' certification can help you before you take the plunge and that includes possibilities of both of you to be hired by academic institutions. In case only one of you find the right job, your overall situation might get worsened.
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Old 11-26-2016, 01:48 AM
Jovanny Jovanny is offline
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Default Re: Advice for tackling student loan debt

I would suggest you to analyze your financial condition and chalk out a budget.
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Old 11-28-2016, 03:46 AM
theviewabudhabi theviewabudhabi is offline
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Default Re: Advice for tackling student loan debt

Are you in a situation that you cannot clear out your education, i suppose you are doing something in bachelors but what is happening actually?
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Old 12-12-2016, 09:44 AM
Paul@GFS Paul@GFS is offline
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Default Re: Advice for tackling student loan debt

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I would suggest you to analyze your financial condition and chalk out a budget.
Chalking out a budget is a good ploy. All you need to do is to identify expenses that you both can do without. Make a list of all such expenses and get the sum. Deduct this sum from your total monthly expenses, and you'll see through your mandatory expenses every month.
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