Get Out of Debt Guy

I'm Falling Behind on My Student Loans, What Can I Do? - Revis

Posted April 12, 2013

WRAL Reader Question

Dear Steve,

I Have $70,000 in student loan debt (Alaska Student Loans and Federal (AES). I am 59 with a couple of period of unemployment (thus deferral) in the past 5 years.

My month payments are 5-6 months behind; constantly trying to make a payment to stay out of collections. $750 a month. What can I do?

I will pay on these until I retire (maybe I can make it to 70) and still will not have these paid off. What can I do. I tried to right thing and went back to school at 44. I have a decent job, but the debt is really stressful.

Revis

Answer

Dear Revis,

Rather than copy and paste all my advice on student loan debt, I think my guide will have the answers you are looking for. See The Ultimate Guide to Dealing With Student Loans You Can’t Afford.

The student load debt is becoming a crushing burden on aging consumers. At least the good news is there are good resources and options in my guide to help you lower those payments.

Steve Rhode

WRAL Get Out of Debt Guy

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About this Blog:

Steve Rhode has had careers in opthalmology, real estate and as the head of a nonprofit debt counseling firm. On his blog, he offers hard-won, free advice about getting out of debt, consolidation and making the right choices as you manage your money.