Question:
Does anybody know who I could contact to discuss excessive student loan debt? I don't know if I need a lawyer for this or not. I am not in default, but am currently in forebearance, gaining incredible amounts of interest. I cannot afford the debt, and have already consolidated to a 30 year loan. Even on a graduated payment, I cannot afford it. I also looked into the income contingent plan, but they take my wife's income into account, and that makes the payments even more than they are for the graduated repayment.

I want to be clear that I am not a slacker and I am not trying to get out of the debt. I would just like to discuss the options for possibly having the interest stop accumulating (short of going back to school for a deferment), or other means of setting up a payment schedule. Right now, the monthly payment would be around $1100, which I just cannot afford (after all of our bills, we usually only end up with a couple hundred "extra" dollars at the end of each month). Am I wrong to assume that they can't default me if I pay them something each month, even as little as a couple of hundred? I asked the lender this, but they didn't seem all that interested in offering solutions.

They, obviously, want to get as much out of me as possible. My forebearance is up next month, and there only "solution" was for me to go into forebearance again. That's fine and all, but the interest keeps adding at about $700-$800 a month. I have a budget plan worked out to become more financially secure within 24 months, but by then the loan will, again, be out of my payment ability (due to capitalized interest). Has anybody had experience with large student loan debt and what to do when it doesn't look like you can ever pay it off? Is there a particular type of lawyer I could talk with that could get the interest to stop? I hold no delusions that I could get the loan discharged, as I am not destitute. I'd like the opportunity to make good on the debt, but they are continually putting it out of my ability to pay by adding on interest.

Answer:
Does anybody know who I could contact to discuss excessive student loan debt?

Walk over to your bathroom mirror, and take a good long look. The person in the mirror (you) are the one that is responsbile for the excessive student loan debt. You guys happily accepted this money, and now you need to happily pay it back.

Right now, the monthly payment would be around $1100, which I just cannot afford (after all of our bills, we usually only end up with a couple hundred "extra" dollars at the end of each month).

I don't understand. You are educated people with 2 incomes. How can you not afford $1100? What else are you spending all of your money on? Perhaps you need to move to some place less expensive.

Am I wrong to ume that they can't default me if I pay them something each month, even as little as a couple of hundred?

There is an old wives tale that if you pay at least $1 a month on a bill, they cannot come after you. That isn't true. If you don't keep up with the payments, the lenders can take action. What action depends on what type of loan this is.

Has anybody had experience with large student loan debt and what to do when it doesn't look like you can ever pay it off? Is there a particular type of lawyer I could talk with that could get the interest to stop? I hold no delusions that I could get the loan discharged, as I am not destitute. I'd like the opportunity to make good on the debt, but they are continually putting it out of my ability to pay by adding on interest.

One place you could go for help is the financial aid office at your school. They should be able to tell you, or point you to someone that can tell you what options exist, and what the process is when you get behind. Another option is to talk to a bankruptcy lawyer. While I understand that many types of student loans are not dischargeable in bankruptcy, a bankruptcy lawyer may know who to get some relief, and they may be able to discharge your other debts and get you out of your lease so you can rent someplace cheaper. Also, if you have any cars that are worth more than $1800, you owe it to the public to sell these cars and buy something cheaper until you have the debt paid off.