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|Tue, 06-03-2003 - 9:26am|
I am in desperate need of advice from anyone who may be in the same situation or may know anything about the hardship of paying school loans.
I am 30 years old and have a Master's Degree. However, as luck would have it, I have been unemployed twice in the last 2 and a half years, and yesterday marked one year since my last lay off. My boyfriend and I have begun talking about the future: engagement, marriage, kids, and the issue of school loans came up. Needless to say, I told him how much I owed (in excess of $90,000) and he went into shock. He is from Europe and the notion of this much debt is completely foreign to him. I have explained to him that this is just the way it is in the US, but he doesn't understand and I don't blame him. He is panicking to the point where he says we'll never be able to have kids, we'll never be able to buy a house, etc.
Does anyone out there have any advice for me as to how best to manage this debt? I can only hope and assume that I will be employed again soon and that things will be back to normal. I have called the lenders and they say I have 60 months of forbearance left.
Any advice would be appreciated.