This post ended up being added by Andy Josuweit, creator of education loan Hero plus an Earnest client.
I experienced 16 figuratively speaking once I graduated from university, totaling $74,000 across four various loan servicers. It absolutely was in pretty bad shape. Remaining in addition to my financial obligation had been far more confusing and hard than we thought it could be — or should really be.
However, we made my most useful efforts to maintain with my figuratively speaking. We utilized a spreadsheet that listed all my education loan records (or more We thought), along side details like balances and rates of interest. We examined my fico scores month-to-month and evaluated my yearly credit history. So when i really couldn’t pay for my payments, we switched to an income-driven payment plan.
Despite having this diligence, but, we nevertheless finished up defaulting on two figuratively speaking. (more…)