Consolidation and Refinancing are some of the best ways to tackle down
Private Student Loan Debt since they open up better repayment options borrowers can take advantage of.
Borrowers with very high medical debt or
private student loan debt since the income - driven repayment plans do not take these expenses into account, and
Not exact matches
There is no such discharge of
private loans, and
since many
private loans require a co-signer, your co-signer will become responsible for your
student debt after your death.
Ever
since the bankruptcy code was changed to prohibit the discharge of
student loan debt, both government and
private student loans, a national crisis has been building pressure.
Consolidation is the most effective course of action, but
since private student loans are more expensive, it is usually better to concentrate on handling that
debt.
I wish I had better news but this is a subject I have railed on about
since 1994 and was shouted down most of the time by people saying this was not a problem because
private student loans were a good
debt.
I have $ 10,000 in
private student loans, $ 9,000 in credit card
debt and probably now ~ $ 120K in government
loans with interest included
since I finished undergrad.
Since an all - time low for outstanding
private student loan debt in 2010 - 2011, the amount is now up by 49 percent.
These are not usually recommended
since they consolidate public and government
student loan debt together, therefore taking tax money into the
private sector and making it less reliant on federal rules and regulations.
But if this was
private student loan debt and no payment has been made
since 2008 then the statute of limitations might have expired on that
debt and then it could be easily discharged in bankruptcy.
For instance, if we assume that federal PLUS
loan interest rates for graduate and professional
students have remained above 7 % for the majority of time
since 2006, some
private lenders are able to offer competitive rates and repayment options that could help graduates save money and possibly get out of
debt faster.