dear past prefpara: you should have applied for financial aid
September 1, 2011 1:20 PM Subscribe
I owe lots of money because I went to law school. I have a great job, so paying my loans back should not be the end of the world. If I can figure out how to do it. Can you help me figure out how to do it?
My problem is that my understanding is at a very basic level, so when I try to learn about "smart" ways to pay back my loans I get overwhelmed very quickly by information that is too sophisticated for me, which makes me feel anxious, which makes it hard for me to absorb new information. Is there a good resource that will teach me about this stuff without being immediately with the complexity? I can handle "pay off high interest first," but that's about as far as I've gotten; meanwhile, I have a total of 12 different loans, each with its own balance, interest rate, lender, and so on. I strongly suspect I should actually be balancing all those factors somehow or doing god knows what else.
On top of that, it's not clear to me how to repay my loans as a practical matter. They're supposed to show up on myfedloan.org but not all of them do (and some show up with different balances than my records reflect). I thought my law school's financial aid office was supposed to help me with this but they've been pretty useless, repeatedly, including with this specific issue.
I suspect that really these are not super-difficult problems. It's just that they stress me out badly, which makes it hard for me to think clearly and realize what the solutions are. My hope is that since my loans don't stress out the MeFi community, you guys can just tell me what I should be doing, at which point I will breathe a sigh of relief and add another item to the very long list of "times MeFi has helped me get my shit together."
Thanks in advance for your help. For the sake of clarity, I think I tried to ask two related questions:
1. How can I learn how to repay my loans as efficiently/strategically as possible?
2. How do I repay my loans? Literally, how?