What is the smartest,way to get my Student Loan repayed ?
Asked by KymimomI'm in Default and the interest and penalties are growing everyday. The minimum they will accept , even under a "financial hardship" Rehab program is $400 per. mo I can't repay at that amount currently...but if I don't the monthly amount will just go Up and up. I'm a Homeowner ..should I get a refinance loan and pay off the FEDS and attach the amount to my mortgage ?
Favorite Answer
Answered by Tiare
the bad thing about student loans is that there is no way out. cant file bankruptcy so you must pay one way or the other or they can make your life miserable. If it were me and I could afford it, I would take out the home equity loan and pay them off completely, if the interest rate was tolerable. then the interest would also be tax deductible also. you may want to repost this in the business and finance section in order to get responses from people who work in the finance industry as this is not so directly related to financial aid, per se
the bad thing about student loans is that there is no way out. cant file bankruptcy so you must pay one way or the other or they can make your life miserable. If it were me and I could afford it, I would take out the home equity loan and pay them off completely, if the interest rate was tolerable. then the interest would also be tax deductible also. you may want to repost this in the business and finance section in order to get responses from people who work in the finance industry as this is not so directly related to financial aid, per se
