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Korean Job Discussion Forums
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Qinella
Joined: 25 Feb 2005
Location: the crib
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 Posted: Mon Mar 12, 2007 7:50 pm Post subject: |
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| grainger wrote: |
I finally decided to come to Korea just to pay off these stupid loans. These people will try to bleed you dry though. After I got here I spent about five months worth of savings to pay off one of my smaller loans (My loans got separated into four parts because of the loan system being restructered while I was in university) I'm paying $400.00 a month to pay off the other small provincial loan in a year. I'm paying $709.09 a month on one of the federal portions of my loan (minimum payment) and I'm trying to negotiate the other federal portion of my loan right now. They want $613.00 a month (minimum payment) I may have to keep ignoring them for the year until I'm done paying the $400.00.
I know you all probably don't need this much detail but I'm just angry. How can they expect anyone to pay off this much money on a monthly bases. When they're new to their profession, have to pay rent, and eat.
As it is I'm sending home over half my income every month. I went to university to have a better life then my parents (a waitress and a truck driver) not to live in poverty and/or exile during what should be the formative years of my career and end up with a ruined credit rating all because of my student loans.
I'm sure there are similar stories out there. Anyone have any helpful advice? |
I don't know about federal or Canadian systems, but is it possible for you to do a debt consolidation? You can speak to private lenders who may be willing to take up all your debt and offer you a lower interest rate. |
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