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Reply to "I owe $125,000 in private student loans to one institution. How to get them to settle?"
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[quote=Anonymous]I think your choices are: 1) to default on the loans or 2) refinance so that you can extend the repayment term. You will need to talk to your lender about this and whether they will allow it. I too had $120k of loans (mostly federal). I consolidated them and extended them out over 30 years. My payments dropped to about $575. I also echo the comments above about getting into the military or fed government to take advantage of the loan forgiveness. I really think this is your best bet for financial freedom at some point. [/quote]
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