Author Topic: Student loans repayment question  (Read 1394 times)

castead

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Student loans repayment question
« on: May 26, 2014, 09:50:55 PM »
Hello everyone!

        My husband owes $26,395 for student loans at interests rates ranging from 3.4% to 6.8%. Three of these loans are unsubsidized and started accruing interest 2 years ago. So far we have been unable to make payments. He did not finish school as we had an unexpected pregnancy, and relocated to move in with family.

        Once here, I wasn't able to find a job that would cover childcare and gas, so I stayed home. I recently decided to go back to school; I applied for financial aid and qualified for a bigger grant than I expected, and work-study. In addition, my parents offered to let me borrow $7,500/yr at no interest.

        I am pretty certain I can get by without the money my parents have offered to let me borrow. Should I turn their offer down, or should I talk to them about letting me borrow that money to pay for my husband's student loans? Does this even make sense? Unless my husband gets a significant raise, I am afraid we are unable to contribute much towards that debt.