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Hey! I need some help paying off some college debt. Any advice would be greatly appreciated as I am a poor teacher that can't make ends meet.

Answer Question

Asked by Anonymous at 8:43 PM on Dec. 9, 2008 in Money & Work

Answers (11)
  • There are two forms of student loan forgiveness: (1) the federal government may cancel all or part of your student loan debt in exchange for you serving your country as a soldier, teacher or volunteer, and (2) your employee, the state you work in, or the organization you volunteer for may absorb part or all of your student loan debt in exchange for working and/or volunteering in high-demand fields

    Full-time elementary or secondary school teachers serving special-needs students or students from low-income families may have up to 30 percent of their Perkins or Stafford loans forgiven. Likewise, physicians and attorneys in high-need areas may qualify for significant, state-sponsored student loan forgiveness.

    They also have a graduated payment plan.  As you make more you pay more in the end and less in the beginning.



    Answer by Alma_C at 8:52 PM on Dec. 9, 2008

  • government guaranteed student loans traditionally offer three types of repayment plans: the 10-year plan, the 30-year plan and the graduated plan.

    The 10-year plan is the least expensive repayment option over the long-term, since it keeps your interest costs down. However, in the short-term, a 10-year plan means relatively higher monthly payments, which you may find difficult to meet on the salary of your first job.

    If after reconfiguring your budget, you still cannot afford the 10-year plan payments, consider a 30-year plan. This extended plan will significantly reduce your monthly payment - perhaps by half or more. However, it will also dramatically increase the lifetime cost of your loan. In fact, the interest portion of your total loan cost can be up ten times higher than on the 10-year plan.


    Answer by Alma_C at 8:53 PM on Dec. 9, 2008

  • A hybrid option is the graduated plan, which allows you to pay off your loan on a sliding scale over a period of up to 30 years. When you're just starting out and your income is still small, your monthly payments will be low (although your relative interest costs will be high). As your income grows, your monthly payments will increase (and your relative interest costs will decrease). Remember that to maximize the saving value of the graduated plan, you must pay off your loan as soon as possible.

    Answer by Alma_C at 8:53 PM on Dec. 9, 2008

  • when you do start making more money, you can start paying more on the loans. Just be sure to make a note that it is for the principal.

    Answer by Alma_C at 8:54 PM on Dec. 9, 2008

  • also look into Dave Ramsey website.
    He also has a talk radio show.

    Answer by Alma_C at 9:01 PM on Dec. 9, 2008

  • Hello!
    Im Tabatha, and I found a way to work from home with a very Legit Business. And the best part is that you get to help other People. And its only $ 1.00 to start till the 15th of DEC. than its $29.00 and its RISK Free to you. You can stop at any time! And it well save you money to. I hope I can give you more info. but really the best way is to set up a time to talk over the phone to realy answer all your questions. so if you want you can call my OFFICE at 423-436-0156 I hope I can help. Have a nice day!

    Answer by bwfamily at 9:22 PM on Dec. 9, 2008

  • I am a Sales Director with Mary Kay Cosmetics. I have about 6 teachers in my unit as consultants because this is a teaching environment. You can make GREAT extra money just working 4-6 hours a week. If you would like more info, feel free to PM me or visit my cafemom group to read more.

    I would be more than happy to answer any questions you may have. I look forward to hearing from you and have a great day




    Answer by AmyMK at 1:11 AM on Dec. 10, 2008

  • Read the book The Total Money Makeover, by Dave Ramsey. He also has a website, a radio show and there is a group on here called Dave Ramsey Fans where you can get information on how to get out of debt and stay out of debt.

    Answer by slw123 at 8:55 AM on Dec. 10, 2008


    Answer by nanaevelyn at 12:36 PM on Dec. 10, 2008

  • My name is Fran, I work with a bed and bath company as a independent distributor. I host bed and bath parties. I only host parties on Saturday's and make great money. Working with The Bed and Bath is an exciting and fun way to make a very good living. Your job as an independent distributor will be to host home parties and encourage your family, friends, and customers to host parties too. You will earn 10% commission on every item you sell, and 5% commission from every party that someone host for you. You don't have to stock any inventory, The company will drop ship orders directly to your customers. As an incentive this company gives away All-Inclusive Round Trip Packages to their independent distributor's. This is truly a great company to work with. For more info go to and click on Become a Bed and Bath Ensembles Distributor and Earn Extra Money.

    Answer by Franniegirl at 3:41 PM on Dec. 29, 2008

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