Hopelessly in debt

[Tigereyes]

How do you cope with being hopelessly in debt? Like $30,000 (or more) in student loans. I know to focus on one loan at a time. I'm barely earning enough to get by without loan payments. Relying on overtime pay to pay necessities and save. It's not financial advice I need. But coping with it mentally. The only way I can get over being horribly depressed and anxious is to give up hope of ever paying it back.

Fatigue very bad, can answer questions if this is unclear.

Thanks.

[Fishermanmax]

I had a similar situation, but I was completely calm. I'll figure something out. Don't worry about the money. Calm down, and think about what you can come up with, can do small business. wheedle. to sell che is unnecessary to provide the services. there are many options.

[Tigereyes]

Thanks, but I'm already working so many hours every week (and disabled) that I don't have any spare time and energy, especially not for a third or fourth job.

[Kate*]

Look into income-driven repayment plans (loan payment won't be more than 10% of your income.) I qualified to pay ZERO, which keeps me out of default, and actually counts towards consistent payments for forgiveness after 10 years, and I have it automatically withdrawn which took a small percentage off of all the interest rates. Beyond that, when I have any extra money, I'll use it to make payments. The most important thing is to stay out of default.

[Dawn.]

Hello there,

I'm sorry to hear what you're going through. I've been in a similar situation so I can empathise the stress it can cause. What I did was pay off the loans every month and put extra money towards it when I could. I often told myself, that it'll be OK and it will eventually be paid off.

[Tigereyes]

I'm currently on RePAY, and I calculated what my payment will be when they rerun the numbers in a few months now that I have a full time job. That number is doable, but I'd never pay it off. Did the math. Twice that amount puts me on track to barely survive like this for the next 15-20 years, depending.. and I just don't see the point in trying anymore if it's always going to be this way. I can't keep living like this. I need to work more overtime than I already do, and my body is quitting on me.

[liamshapley]

Was in similar situation as yours. I worked two jobs in Kitchen which drained me mentally and physically. However, I started a business 6 months ago and it has finally started to pay off.