Comments on: Student Loan Consolidation May Get you Up to 20 More Years to Pay Off your Student Loans

By: workingmywayback

workingmywayback — Sat, 23 Jan 2010 01:18:57 +0000

Well it seems to me if you set up the auto-draft to your bank account willingly you should be able to stop it at will as well. Call your bank and tell them you want to stop sending that company money. Or allow them to take it out of your account, however it was set up.
Good luck!

By: doubleestark

doubleestark — Fri, 22 Jan 2010 19:48:52 +0000

Espcially having a history degree with a job working as a barista, and set back with 40,000 dollars! I laugh because I worked as a security guard and graduated debt free, and even had a savings. After 1 year out, I now have 50,000 sitting in my bank account

By: FuzzyLizard

FuzzyLizard — Fri, 22 Jan 2010 16:03:48 +0000

Student loans effect your credit score like any other loans (that means credit cards also). As long as you pay on time your credit should be fine. But you do want to pay more than your monthly accrued interests, otherwise you will never pay off your student loan, and the balance will just get higher and higher.

By: Jessecraft1954

Jessecraft1954 — Fri, 22 Jan 2010 13:15:58 +0000

I took out loans and today paying back loans to the government is like paying back the mafia. If you don`t have a job or the money to pay, they will take it our of your paycheck when you do work and take your income tax return money and then after years of paying them through garnishments, they can and will sell your loans to a finance company for 24 percent interest wheither you like it or not. They won`t even tell you before they sell them. All the U.S. is about is MONEY

By: AG

AG — Fri, 22 Jan 2010 12:51:18 +0000

No, you can only deduct the interest when you actually pay it, not when it accrues