| Please do not think that the only organization that | | | | have been making several payments each month. I |
| provides postponement and deferments is the Federal | | | | opted for the consolidation to save myself the |
| Government. Other organizations such as Sallie Mae, | | | | aggravation of keeping up with who I paid or not. That |
| Chase, PNC, Citi, Chase, and many more offer similar | | | | alone, brought my payments down. |
| options. Everybody wants to be paid, so it is in their | | | | I also opted for the loan forgiveness for public service |
| best interest to work out an option that best suits your | | | | employees, and that really brought the loan down. This |
| needs and theirs. First off, you are responsible for your | | | | program bases your monthly payments on how much |
| loans whether you complete college or not-whether | | | | you make if you work in public service. After 120 |
| you are employed or not. However, if you find you are | | | | payments (10 years),the remainder of the loan is |
| in need of some way to manage the repayment, you | | | | forgiven. Most student loans offer payments ranging |
| can also apply for deferments even if your lender is a | | | | 15-25 years, and you still have to pay the full amount |
| private organization and the Federal Government. | | | | at outrageous monthly payments. You will find that the |
| For example, Sallie Mae offers four alternatives-lower | | | | private organizations offer virtually the same options |
| monthly payments, deferments, forbearance, and | | | | as the Federal Government. Do not be afraid to ask |
| postponement on a Parent PLUS loan. I know in my | | | | for assistance. Find out who you owe and what you |
| case, I had several different student loans, and I would | | | | know, then take it from there. |