Financial Advice (student loan related)

[mortuus est]

cigga u my breh but suicide looks like the best option

 

[.༼-◕_◕-༽.]

So I was on income based repayment (IBR) plan paying $547 a month for my 135K in student loans (I know... I know...) and Sallie Mae just hit me with, nah we can't have you on IBR anymore we're putting you on the standard plan. It's some technicality bullshyt. Anyway they're putting me at over $1600 a month now. I literally cannot afford this. I got other bills, an apartment that is over 1K a month, bills, tons of medical costs, food, etc. They will literally bankrupt me in a few months.

What are my options here? They're just gonna garnish my wages if I don't pay. Do I just quit my job and declare bankruptcy so that they can't garnish shyt because I'll be making less money than I am now working some bullshyt job (that will actually pay me more because of the way percentages work and shyt)?

I'm going to talk to a financial planner and see just how fukked I am, but it is looking bad. Anybody else ever been in this situation? How can I solve this without completely ruining my credit and life (if at all).

Financial brehs, I need some advice

Are your loans EXCLUSIVELY with Sallie Mae? Can't you discharge Sallie Mae loans through bankruptcy? Why would you quit your job?

 

[Solano707]

So I was on income based repayment (IBR) plan paying $547 a month for my 135K in student loans (I know... I know...) and Sallie Mae just hit me with, nah we can't have you on IBR anymore we're putting you on the standard plan. It's some technicality bullshyt. Anyway they're putting me at over $1600 a month now. I literally cannot afford this. I got other bills, an apartment that is over 1K a month, bills, tons of medical costs, food, etc. They will literally bankrupt me in a few months.

What are my options here? They're just gonna garnish my wages if I don't pay. Do I just quit my job and declare bankruptcy so that they can't garnish shyt because I'll be making less money than I am now working some bullshyt job (that will actually pay me more because of the way percentages work and shyt)?

I'm going to talk to a financial planner and see just how fukked I am, but it is looking bad. Anybody else ever been in this situation? How can I solve this without completely ruining my credit and life (if at all).

Financial brehs, I need some advice

Aint nothing you can do about Sally - you can't claim bankruptcy on that shyt - everything else you can. And she will come after your paper. Pick up a second job if you can and start selling off shyt you don't need. if you riding in a Audi A6, time to sell and get a honda hatchback - if you up in a penthouse, go find a studio apartment or fall back on your parents if you can.

Man that sucks. Another option is to join the military and have them pay off your debt.

 

[pickles]

OP how did you get a student loan adviser? Or do you know how you can get one?

 

[Ciggavelli]

I know some people that are just like you. From what I was told is that if you keep going to school it'll be in deferment,so u won't have to pay until stop going school. Just take a class or two so you won't have to pay.

Or option 2 join and serve in army or something. I hear they pay for most of your loans.

You gotta be a full time student for that to work though. So I'd have to quit my job and pay for 5 or 6 hours of tuition. I can't do that.

Are your loans EXCLUSIVELY with Sallie Mae? Can't you discharge Sallie Mae loans through bankruptcy? Why would you quit your job?

They are exclusively through Sallie Mae. I can't discharge them through bankruptcy because they are gov loans, but I'm gonna try. I'd quit my job so they can garnish less wages. Making less might actually make me more.

Aint nothing you can do about Sally - you can't claim bankruptcy on that shyt - everything else you can. And she will come after your paper. Pick up a second job if you can and start selling off shyt you don't need. if you riding in a Audi A6, time to sell and get a honda hatchback - if you up in a penthouse, go find a studio apartment or fall back on your parents if you can.

Man that sucks. Another option is to join the military and have them pay off your debt.

I can't join the military for health reasons. I tried to several times. They ain't having me.

OP how did you get a student loan adviser? Or do you know how you can get one?

I didn't get a student loan adviser. In retrospect, I shoulda . I need a financial adviser now. shyt's serious

 

[pickles]

You gotta be a full time student for that to work though. So I'd have to quit my job and pay for 5 or 6 hours of tuition. I can't do that.



They are exclusively through Sallie Mae. I can't discharge them through bankruptcy because they are gov loans, but I'm gonna try. I'd quit my job so they can garnish less wages. Making less might actually make me more.



I can't join the military for health reasons. I tried to several times. They ain't having me.


I didn't get a student loan adviser. In retrospect, I shoulda . I need a financial adviser now. shyt's serious

If you find one, or if anyone knows any free student loan adviser type sites, hook a breh up.

 

[Ciggavelli]

If you find one, or if anyone knows any free student loan adviser type sites, hook a breh up.

I don't think mine is gonna be free. I need some real professional advice, and that costs money. If he'll save me money in the future and take my out of my situation somehow, or lighten the load, it'll be money well spent

 

[Vandelay]

There should be an extended graduated program that spreads over 25 years...the downside is that 130 is probably gonna be 200k before it's all said and done.

 

[Ciggavelli]

Part of me wants to ball out until November 15, quit my job, declare bankruptcy, get a shytty paying job so they can't garnish too much of my wages, and then just deal with the consequences


I basically gotta house I gotta pay off in 10 years. I think my life might be over. Might as well enjoy life until the shyt hits the fan







But I can't do that can I?

 

[Chris.B]

Part of me wants to ball out until November 15, quit my job, declare bankruptcy, get a shytty paying job so they can't garnish too much of my wages, and then just deal with the consequences


I basically gotta house I gotta pay off in 10 years. I think my life might be over. Might as well enjoy life until the shyt hits the fan




But I can't do that can I?

Can you work 2 jobs?

 

[intruder]

135K in student loans

 

[Ciggavelli]

Can you work 2 jobs?

Not if I stay in Chi (my schedule is not regular enough to allow for another job. They don't always have me working 9-5), but if I move in with my grandma in Houston I probably could. It would mean I couldn't finish my phd though.

 

[pickles]

I don't think mine is gonna be free. I need some real professional advice, and that costs money. If he'll save me money in the future and take my out of my situation somehow, or lighten the load, it'll be money well spent

Have you found one yet? I say you should look into that. Post here if you find info on a good one. I don't think you should quit your phd. Tell Sallie Mae to fukk off.

 

[Ciggavelli]

Have you found one yet? I say you should look into that. Post here if you find info on a good one. I don't think you should quit your phd. Tell Sallie Mae to fukk off.

Nah I'm waiting until Monday to do everything. I need to get to the bottom of what Sallie Mae is doing then use that to talk to the financial adviser. I'll post something though if I get any good tips/advice.

 

[The Refiner]

See if you can call Sallie Mae and cancel your application since this is clearly not what you signed up for.