Are there any debt relief programs to help pay off student loans?
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Author: Q: I Have Started Making Payments on a School Loan. The Balance is Over $26,000. I Have 3 Children With a Fourth One on the Way. Is There Any Way I Can Get Help With This, Like a Grant Maybe?
A: Congratulations on your the upcoming birth of your child. And hats off to you for managing those kids at the same time you are trying to manage your own finances. Unfortunately, I don’t know if any grants to help you pay off your student loans just because you are a cash-strapped mom. However, there are some possible relief programs you may qualify for that would allow you to get a forbearance or deferment on your student loans given your situation. For example, some lenders (like Sallie Mae) will give you a temporary break on making student loan payments while you are pregnant and can’t worry or even for new mothers re-entering the workforce. Read this post (and the others linked to it) entitled Seven Smart Ways to Pay Off Student Loans Fast for more ideas about getting deferments, forbearance or loan cancellations during times of economic hardship.
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