You’d think talking to your best friend who is an accounting major about student loans would make everything clearer.
Nope. Far more confused.
Except for the part where he told me to pay them back with a credit card, and then file for chapter 13 bankruptcy, so I can “get the 90% discount” when I only end up paying about 10% of my credit card debt back….
…I don’t think he was joking.
Oh my life.
I’m just going to go back to being a college student full time, for the rest of my life, so I don’t have to pay loans back ever. :)
Step 1: Consolidate ALL the loans through the federal government: http://www.loanconsolidation.ed.gov/
Step 2: Do it with an Income Based Repayment plan. Depending on your career path, you may only have to pay up to 10% of your income toward loans each month. This is why my student loan payments are still under $300.
Step 3: Find out what deductions are available for teachers in your state. Do you get credit for teaching for X number of years?