During June’s #AskFAFSA Office Hours, we featured three recent student loan borrowers from a variety of fields who are using various resources (some more out of the box than others) to repay their student loans. Joe, Tiffany and Ian answered your questions about their experience with the student loan repayment process. Here is a summary of the Q&A:
Facebook
YouTube
Twitter
Beware of student loans. Stick with federal loans only & either borrow very little or go for a loan forgiveness program. Until the industry is better controlled with more consumer protection, I would advise AGAINST all student loans. Any other form of borrowed money has standard borrower safeguards but student loans are forever and the lenders are unscrupulous. In theory it’s great but the chances for lifelong grief are just too great. In this tough economy even retireees are getting their SSI garnished by student lenders! Until the industry is more controlled, I’d stay away from student loans – you’ll save hours of your life just from not having to deal with them; anyone will tell you how much phone time they’ve spent for their loans along with the paperwork…you’ll need to save every shred of paper if you want to survive the experience. If I saved one person from grief with this post, that would be great.
i been applied for a subsidized loan and an unsubsidized loan and i got my paper from the great lakes on the subsidized loan but nothing on the unsubsidized loan and i wish someone would help me out . i just need a phone number to call so i can talk to someone about this.. please it is very important.
John, This is the info I got off the internet. Good luck. mygreatlakes.org or (800) 236-4300