Wednesday, March 15, 2006

Student Loan Debt Woes: Need Advice

Today's post is a solicitation of any advice that my readers might be able to give concerning student loan debt. Both Za and I have significant student loan debts. His is far worse than mine, since he got saddled with all of the student loan debt (both his and hers) in the divorce. Za's loans were also consolidated at a floating interest rate (ugh!), and his minimum payment is more than he can afford with child care payments. My loans are a bit more manageable, but I am mostly paying interest. The fact is, we both need to seriously deal with this debt. I started looking around for good books on how to deal with this, but they all seem full of advice that I already know. Does anyone out there have any good experience with "how to" manuals to pay of student loans so as to be able to actually have some savings for old age?

I own a house, and someone suggested I buy out my loans with a credit line. Za, however, owns nothing. How does one actually get this under control. Or, where does one go to get CHEAP professional help?