Contact the current lender to see if the offer any type of rate reduction program. Some lenders offer a discount if you allow them to auto deduct the payment from your checking account, also if you have a good payment history you may get a discount for that.

If the problem is that the current payments are too high or if you are in between jobs then definitely check with your lender, but be aware that reducing your payments or delaying your payments will significantly add to the total amount that you’ll end up paying.

Good luck!

Under the FFELP Consolidation Loan Program SELF Student Loans cannot, by law, be included in a Federal Consolidation. If you were to combine your Federal Student Loans with your SELF Student Loans you would lose all of your Federal Benefits that come along with your Federal Student Loans.

Your Federal Benefits are standard on all Federal Student Loans, some which include: unlimited in school Deferment, Federal Subsidies on some loans, interest paid being tax deductible, and 3 years of Forbearance and Deferment. If you were to combine your Federal Student Loans with your SELF Student Loans you would lose all these benefits. For more information on your Federal Benefits please visit the source below.

The government is NOT in the business of giving away free money for the sake of giving away money. There are no grants for paying bills, no grants for paying off credit cards, no grants for getting out of debt .

Grants are free, but it means OBLIGATION. You will be obligated to do as the grant sets out to do. Grants have objectives, and your purpose must fit the objective of the grant.

For one, you have to write the grant application and the grant application is not a simple document – you have to explain how your purpose for applying for the grant fits well with the objectives set out by the grant.

There is a stringent review process through a committee. You will compete with other applicants for the grant money, and this grant review committee will evaluate the merits of each proposal. Only those that they feel exemplifies the objective of the grant will be approved.

You can go to the Catalog of Federal Domestic Assistance (CFDA) http://www.cfda.gov and Grants.gov http://www.grants.gov – these are two sites created by the federal government to provide transparency and information on grants. Browse through the listings and see if you can find any grant that would support your purposes.

Even if you buy books on “how to get grants” or list that supposedly has information on grants — all of them are mere rehash of what CFDA has, albeit packaged differently.

Note though that these grants generally support non-profit organizations, intermediary lending institutions, and state and local governments. Most of the federal grants are given to specific target groups with specific requirements (e.g. minority business owners involved in transportation related contracts emanating from DOT – Grant#20.905 Disadvantaged Business Enterprises Short Term Lending Program. Individuals especially for personal purposes are not eligible for federal grants.

Grants are also often given to non profit groups or organizations involved in training or other similar activities (grant 59.043 Women’s Business Ownership Assistance that are given to those who will create women’s business center that will train women entrepreneurs

And the user who suggested that all your loans are paid off when you become a teacher, that is 100% false. If you teach for teach america, or you go into the peace corps your loan is cancelled. Other than that you still have to pay those loans off. You may qualify for scholarship programs or for certain programs that offer you money and cancel your loan, but there are no programs that outright cancel your loan.
Ask my friends who are elementary education teachers/majors and constantly worry about debt.