can having a lot of college debt kill your credit?
have about 200,000.000 in college debt. no house yet, no car yet. proffesional school.. is that really bad? what r the pros and cons. can i buy a house if i want or will i be rejected cuz of too manty student loans?
Its bad but there is a solution for every problem. Right now you may be rejected coz of your credit history. So it would be better if you pay off your debts first. Are you working right now??
If you are not able to manage your debts on your own then you can go for student loan consolidation program. They can help you consolidate all your debts into an affordable only monthly payment. Several benefits which are observed in student debt consolidation program are:
# Can reduce monthly payments by up to 54 percent.
# Can consolidate debts taken from more than one lender
# Can extend your repayment plan all the way up to 30 years
# There are no prepayment penalties.
Thus you can pay off your debts and there after you can think of getting a home loan to get a lower interest rate. Otherwise you will add to your debts even if you get a loan right now.
Here is the source of a debt consolidation company named http://ezconsolidation.com for your reference which offer student loan consolidation program.
Hope this answers your question. Good luck !!!
