Student Loan Deferment and Forbearance Denied and I am an unemployed single Mom?
October 18, 2010 by admin
Filed under Student loans
Now what? I have a degree and have actually moved twice to look for work and am still looking and am open to relocating and tried McDonald’s (who says I am overqualified, ridiculous) and just about everything. My unemployment runs out in 9 weeks. I can’t seem to get these people to understand I am out of options. I don’t want to default. Does anyone have any suggestions?
no No NO! I do not want or need a loan! No Spammers please!!
Are you SERIOUS? This is ridiculous. I want to know what other options are offered by the government. Please people, stop posting junk on here.
Incoming search terms:
- denied forbearance
- forbearance denied sallie mae forum
- Forbearance denied student loans
- my student loan deferment was denied
If you have only federal loans and you’ve not defaulted, look into the income-based repayment plan (you can find lots of information on the internet about it). Your monthly payments are based on your income and household size. It spreads your loans over 25 years (but, you can pay it off early), and after 25 years any remaining balance is forgiven. After this option, or if you have private loans, you may have to default if you haven’t found employment. It’s an unfortunate circumstance when you don’t want to default, but sometimes you run out of options (obviously this is a last resort).
Have you applied at gas stations, nursing homes, and/or group homes? I’m only asking because in my area these are three jobs with extremely high staff turnover and they are always hiring. Don’t feel too bad about being overqualified for McDonald’s. . . I was told the same thing 2 years ago! It is frustrating when you are willing to work anywhere. . . only to find out your overqualified. Good luck to you!