April 10th, 2013, 09:37 AM
Join Date: 11-06-05
Location: South Lyon, MI
Mentioned: 17 Post(s)
Originally Posted by dogface
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?
Itís almost not worth it to work when you are giving over ĺ of your paycheck back to the gov/loan payments.
I am guessing his degree is not in business or finances?
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