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Mitigating Student Loan Debt

12K views 141 replies 48 participants last post by  kickstand 
#1 ·
Has anyone had any experience reducing or removing the burden of a MASSIVE student loan debt?

My friend has $200K + in loan debt as high as 9%, yes really. Buy the tiem thay are paid off, they will be ready to retire having paid over $450K in total.

Since the federal loans have been consolidated once, they cannot be consolidated again.

Bankruptcy does not forgive student loan debt.

What other options do they have?

It’s almost not worth it to work when you are giving over ¾ of your paycheck back to the gov/loan payments.
 
#67 ·
I was only making $40K right out of college with student loan debt. I make a lot more than that now, but at the time I was able to pay a lot of it down while having a decent place to live, newer car, and still have hobbies. A single guy making $60K should have absolutely no problem.
 
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