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How do I manage my huge student loan debt?; Walking into debt

Question by EndymionSpilos: How do I manage my huge student loan debt?
I am a graduate student now with over 120K in student loan debt. Including private and federal loans. I’m really concerned about how I am going to pay it all back. I justified it all by saying that I am in a graduate program (currently in my first year of a 5 year PhD program in industrial-organizational psychology at another very pricey school) that will yield a high paying job. Though now I hate my graduate program and what I am studying. How can I manage this massive student loan debt??

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What do you think? Answer below!

Walking into debt
A study done by a non-profit organization, http:// www.projectonstudentdebt.org, looked at the loan debt from students across the country. SIUE student debt was averaged at $ 21633 for 2010. Debt at other Illinois colleges was similar, …
Read more on The Alestle

Debt consolidation will leave you with a huge debt ratio, and close all your credit cards?; Students need all the debt relief they can get

Question by Labrythn: Debt consolidation will leave you with a huge debt ratio, and close all your credit cards?
When you consolidate debt, it shows all old debts as being paid, etc, but the one new debt ratio, which is the amount being owed to the consolidation company will be huge. QUESTION: Does It lower the credit score to have a huge debt ratio like this?
OTHER QUESTION: and you also want to have say, 3 credit cards, (3 of them is the number you want to have a good credit profile, right), then the debt consolidation companies close your credit cards or do they not? How does it work

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Answer by oncameratalent
You can find the answers to your questions here:

http://fixingyourcredit.blogspot.com

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What do you think? Answer below!

Students need all the debt relief they can get
The White House says by consolidating debt into one loan, borrowers will be better able to track their payments and avoid default. But this also saves the government money because it will no longer have to pay banks a subsidy for the FFEL loans. …
Read more on Baltimore Sun

Faith and Finance

How do I manage my huge student loan debt?; Walking into debt

Debt consolidation will leave you with a huge debt ratio, and close all your credit cards?; Students need all the debt relief they can get

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