How can i get out of default with student loans?

My student loan is in default. I tried to make an arrangement with the creditors but they want me to pay a lot more than i can afford. Because i can't pay the amount they want, they are saying i refuse to pay back the loan. I want to go back to school is there anything else i can do?How can i get out of default with student loans?
Do not despair, there are programs to help one with student loans. There are many others out there with problems and there are solutions. Far too many to answer here in this limited space.



I recommend to got to this free site for help

http://www.ed.gov/offices/OSFAP/DCS/defa鈥?/a>



Hope this helps you out.How can i get out of default with student loans?
taxes and student loans and ......death....no getting around those three....you'd have a better shot at getting out of back child support than student loans.
I got into some trouble in my younger days and I defaulted on my student loans. They started to garnish my wages but I contacted them and did a voluntary paycheck deduction. It made things look better on my credit plus it satisfied them. After a year, it was changed back into a normal loan where I submitted the money myself.



Typically lenders are happy that you are trying to pay back the money and will take whatever you can afford to pay. You need to contact them and tell them that you simply cannot afford to pay more than xx amount. They should be able to find a way to work with you. Until then, make sure you are submitting what you can!! You can't just stop paying them all together or they will start garnishing things. (paychecks, tax refunds, etc.)



Student loans cannot be foregiven either so you will eventually need to pay these back. Bankruptcy is not an option, they will not forgive them.



If you decide to go back to school and your other loans are in default, you may not get anyone else to lend you the money. But if you are in school, you can defer your student loan payments during that time and I believe up to 6 months after school ends.
Student loans are pretty cut and dry. You have to pay and keep current on them. You cannot even get rid of them due to bankruptcy. The loan company can attach your wages to get payment_I have seen this happen to a co-worker. Call them again and see if you can make another arrangement. It may be that what you offered is just not sensible as far as ever being able to pay it back.



You are going to HAVE to get on a payment plan they accept for you to get out of default. Right now, I doubt you are going to be able to get another loan to go back to school. I am in your situation somewhat-I have a very small loan, and would probably get a loan to go back to school. I really want to do that, but I know I cannot afford those payments when I get out. The job market is too tough and I cannot count on a job.



This is the problem with student loans. If you cannot find a job when graduating (many people find that they are not able to), you don't have the means to pay the loan. I know quite a few people in this situation. There is no guarantee anymore that a college degree will make you have a great salary, unless you are in a field that really needs people and there are not many of them. I am job-hunting myself, graduated with honors, have great references and cannot find work.



I would try to find a way to get this loan back to normal before you do anything else. If you go back to school, you will just have more debt on top of it.



Good luck!
This is a tricky situation.. First, student loans are one of the worst kinds of debts to be unable to pay. When this happens, you can run into trouble pretty easily... I am surprised to hear that the student loan agency is refusing to work with you.. At the minimum they can ask for $50 on your loan.. Do you have multiple different loans outstanding? If so, you should consider consolidation of these after you straighten out this delinquency...



Most states have what is called a guaranteed student loan corporation (state run) which can offer you assistance.. I would advise you giving them a call.. In addition, you should call back your lender and speak to their default group department regarding repayment. Now, they are required to take whatever you send them.. They just have to keep applying this to the loan. If they refuse as you are advising, you should immediately contact the US department of Education and request the ombudsman information for your state... They reserve the right to intervene on your behalf and instruct the lender to accept the payments.. While this is a loan between you and the loan agency, the department of education maintains contracts with all of these banks which states they must try to work with the student.. Work out a more suitable payment arrangement. My advice is to prepare a ledger showing your expenses from your net pay on down to your free cash available for the month.. Of course, at this point, it may be recommended to cut back on some of your spending.. Now, if you have a credit card available, you may have to charge a certain amount on there (or transfer a part of the balance to a new card) if you are able to do so.. This will get you back off the default list and on to repayment.. One other thing.. If and when you decide to go back to school, you are able to consolidate these student loans under another company IF you secure funds from a different bank when returning to school..



When you do this, your payment history can start over and you will no longer have to worry about the bank...



If you like, send me an e-mail, provide me the lender name, and your state, and I will try to get you something prepared which could help your situation...



Hope that helps..