Fruzsina Eordogh blogged about her regret taking out over $200,00 in student loans saying that she owes so much she doesnt even keep track anymore!Eordogh says;
”I didn’t have anyone to talk to about financial matters and I didn’t ask for help, either (not even a quick Google search), another bad decision. Private loans cannot be consolidated, something I did not know, and had I known, I would have changed my education plans entirely.
I moved off campus the first chance I got, and I worked full- or part-time, depending on my class schedule. In total, I borrowed approximately $43,000 from Sallie Mae, with an average interest rate of 9.5%. As of today, I have already accrued $22,525 in interest (on $43,000!), and the estimated total amount to be paid should I follow the monthly payment plans will be $123,350.
Does that number seem high to you? It does to me, but I am not exaggerating, and I am not just pulling that number out of a hat. I have to make monthly payments of $690 for 14 years and 11 months. That’s more than I pay for rent..”
So, where’s the help? I’m confident there are financial and legal folks out there that can guide Fruzsina (and perhaps others like her) out of this mess.
Where are their responses?
bart