FREAKING OUT about UG loans....

[deleted244469]

So I just graduated this spring from Undergrad (I am 24). I am finishing up some classes at the local CC and plan on applying to medical school the next cycle. As a result, I currently have no REAL job. Between school, volunteering, shadowing, and a LITTLE working at a PT job, I have zero time for anything else. I'm starting to get notices from the govt about my loan repayments and am FREAKING OUT. I have no way to pay back this money at the present time. What am I supposed to do? Would calling them and explaining my situation help? Could I get a deferment/forbearance until I get into medical school? I just became EXTREMELY stressed out and really don't need anymore stress in my life right now.

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[crazy87]

Can't you hold off on payments if you're doing half time or more at CC? I would suggest talking to the fin aid at your community college to see what you can do, even if you aren't using loans to pay for your current classes. I'm not sure.....

 

[puppylatte]

It's called forebearance or deferral due to low income. It's actually really easy to get.

 

[wholeheartedly]

Income based repayment is an option too.

 

[Prncssbuttercup]

^^^ What they said. Half time gets you out of payments (deferment), or you can tell them you need IBR, or a forbearance. They are easy to work with, I've done it.

 

[desdes]

I would call and see what options are available and as long as you are taking 6 credits they will defer them I am in that process now