My younger sister graduated from college a few years ago but is not able to pay back school loans especially now that she has a child. Myself and our family isn’t in the position to help financially so we’re at a lost.
Are there any consolidation groups (like there is for credit card debt) that can help lower her payments and work with her to figure out a budget? Thank you very much!
If she has trouble making her education loan payments, contact immediately the organization that services your loan. You might qualify for a deferment, forbearance, or other form of payment relief. It’s important to take action before you are charged late fees. For Federal Perkins Loans, contact your loan servicer or the school that made you the loan. For FFEL Loans, contact the lender or agency that holds your loan. For Direct Loans, contact the Direct Loan Servicing Center at http://www.dl.ed.gov or by calling 1-800-848-0979 or 1-315-738-6634. TTY users should call 1-800-848-0983.
See the links for more detailed info!!
Good luck.