04-28-2023, 05:54 PM
Student Loan Help
While we were able to, barely, survive the financial crisis of 2008, we managed to put ourselves in a better position than we were in at that point. But, with the recent financial downturn, we find ourselves nearing a financial precipice again, now that we have kids (10 and 13) whose needs are growing each year. Our largest debt, next to our mortgage, which we’ve also now taken out a Home Equity Loan on to try to reduce our growing credit card debt, is our student loans (4 total consolidated student loans). While student loan payments have been halted, we have been able to make do, living paycheck to paycheck (even with several side hustles). However, with student loan repayment looking to restart, those payments are going to drive us underwater, and we’ll still have ~20 years until they are paid off. Even with the income-based repayment plans, we will barely make any dents in the almost $200,000 in principle that we still owe.
One of the reasons for repayment of the student loans will be difficult is that our daughter (13) has been diagnosed with ADHD, though not as being on the Autism spectrum, but we have several doctors that she sees (and not all covered by our insurance) to help treat her ADHD, as well as several daily medications and dietary supplements (prescribed by her doctors) to assist her. These all add up (along with the increased living expenses due to the increase in inflation).
To make matters worse, we also tried investing what savings we’ve scraped together since the last financial crisis, and those investments have now been all but wiped out, leaving us with almost no financial security blanket.
If you can find it in your heart to send us a little bit of money that we can put towards our student loan principle, we would be eternally grateful and will Thank God for your support.
Our goal at this point, with this request, is to try to do everything we can (including this request) to reduce the $200,000 principle of our student loans so that we can more readily afford the loan repayments when they start in a few months. Any help you can provide to help us reach that goal would be greatly appreciated.
Thank you for your time in reading this request and may God bless you and your family for at least considering helping us out.
Bless you!
https://paypal.me/jkfammoney
While we were able to, barely, survive the financial crisis of 2008, we managed to put ourselves in a better position than we were in at that point. But, with the recent financial downturn, we find ourselves nearing a financial precipice again, now that we have kids (10 and 13) whose needs are growing each year. Our largest debt, next to our mortgage, which we’ve also now taken out a Home Equity Loan on to try to reduce our growing credit card debt, is our student loans (4 total consolidated student loans). While student loan payments have been halted, we have been able to make do, living paycheck to paycheck (even with several side hustles). However, with student loan repayment looking to restart, those payments are going to drive us underwater, and we’ll still have ~20 years until they are paid off. Even with the income-based repayment plans, we will barely make any dents in the almost $200,000 in principle that we still owe.
One of the reasons for repayment of the student loans will be difficult is that our daughter (13) has been diagnosed with ADHD, though not as being on the Autism spectrum, but we have several doctors that she sees (and not all covered by our insurance) to help treat her ADHD, as well as several daily medications and dietary supplements (prescribed by her doctors) to assist her. These all add up (along with the increased living expenses due to the increase in inflation).
To make matters worse, we also tried investing what savings we’ve scraped together since the last financial crisis, and those investments have now been all but wiped out, leaving us with almost no financial security blanket.
If you can find it in your heart to send us a little bit of money that we can put towards our student loan principle, we would be eternally grateful and will Thank God for your support.
Our goal at this point, with this request, is to try to do everything we can (including this request) to reduce the $200,000 principle of our student loans so that we can more readily afford the loan repayments when they start in a few months. Any help you can provide to help us reach that goal would be greatly appreciated.
Thank you for your time in reading this request and may God bless you and your family for at least considering helping us out.
Bless you!
https://paypal.me/jkfammoney