How can I rid student loan debt??

I am a mother of 3...and have %26gt;$80,000 of student loans debts. I am employed making decent money, but am having difficulty repaying back since 3 maternity leaves and house mortgage less than my loans. i have already forbeared 3 X and am doing it again. I just feel left alone...for a productive mother and a middle class family (my husband recently started his own business. I already consolidated so that is not an option and I also have a fair interest rate 5%. Please help!

How can I rid student loan debt??

Been there, done that... Great interest rate, but yeah, that is a steep tab. Gonna have to decide what is important to you, and cut out everything else: magazines, cable TV, stuff like that, and bust it out. Even at $1000/month, it's still gonna take 8+ years to pay it off. Sell some stuff, drive a cheaper car. Believe me, when you get done paying it off, it is like a HUGE WEIGHT off of your shoulders.

How can I rid student loan debt??

Take a second job or more importantly if hubby isn't making as much as you with his new business, have him take a second job.

Cut household costs that aren't essential to you earning more money. Take an inventory of all expenditures and find out what is really non essential. Start a budget and stick to it. Even %26quot;lifestyle%26quot; expenses of the middle class family should be considered. Can't afford your middle class house? get rid of it. Your loan debt is just as important as your mortgage and filing taxes. Boat, second car, RV, whatever... scrutinize everything with hubby and don't let it creep SLOWLY out of control like a lot of middle class people do.... who eventually file bankruptcy.

Pay your student loans back happily and proudly, and be glad they gave you the opportunity to get a good job making decent money. I do!!

Been there done that. Me: 12 years and 2 deferments later.... a husband suddenly diagnosed with terminal disease who will never be able to work again, years of chemotherapy... all before the age of 30.

My life is not what I expected it to be when I borrowed that money, but I'm still paying my student loans and glad to do it.

Good Luck.