I have lived in northern Michigan for about 5 years now. I relocated here for a job after graduating from college. I am currently in the process of paying back student loans - and I understand the woes.
My sister graduated college years later. And relocated to my house when it seemed evident she didn't have a job lined up, or a way to pay for rent. She works part-time in the service industry and is currently riding out her "grace period" on her student loans.
It seems as if many people these days find themselves in a similar situation after college. Sadly, despite all the best efforts, plans may not go...as planned. The three pieces of advice in this article (organize yourself, call a professional and think about options) are helpful but I'd like to add another one: Don't panic! You're not alone!
Source: 3 Things to Do During Your Student Loan Grace Period
Yea, I had the grace period after getting my undergrad degree. I never got a teaching job and had them deferred for 2 years. Then, I said I'd go back to school to get them deferred even longer. Now, I can't buy a house because me and my husband's debt to income ratio is too high. That's what we get for going the education route I suppose.
ReplyDeleteI like that you posted this and that we all are not alone. Sometimes feel like I am only chipping away little by little and that it will never end:)
ReplyDeleteIt is very frustrating to invest so much into education and not see a ROI. I don't think that I will ever be able to repay all my loans back, I will be a life-long student to keep these loans deferred! If I can help it my daughter will not have a student loan but she will go to college. I guess I better get busy saving!!!
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