Student Loan

What is the name of your state? Texas

I made a SLSC Student Loan ending in '93 for the amount of $9300 and have paid over $6000. But because of default and missed payments the "principle" amount due is now over $37,000. I WANT to pay off the loan but this amount seems out of touch with reality, or maybe it's me. Is there an option or is this amount the actual amount I must repay....which with the time it will take to repay I'll be paying out of Social Security.

[Ladynred]

Unfortunately, there's almost no way out of this. There is no SOL for student loans and, for the most part, cannot be discharged in bankruptcy.


Have you tried to find out if you can rehab the loan ??
If you don't pay it, they can and will take your IRS refunds, if you're due one, for years to come to satisfy the debt ! They can also get a judgment and garnish wages and its my understanding they don't have to sue you for it first, either.