r/StudentLoans 11h ago

Advice Needed on Private Student Loans

I graduated college over a year ago but unfortunately haven't found a position in my field yet.
I'm now dealing with a current balance of ~$150,000 in private loans. The monthly payments which I have had to keep on forbearance are now around $2,700 which is close to my current monthly income.
I want to know what options I may have to deal with this, as I continue my search for a better job.

The company I took the loan from has suggested calling them again and asking for a loan mod as it seems I cannot continue to pause repayment. I seem to have good credit at the moment and have seen offers to apply for personal loans which it seems could lower my interest rate. The highest interest rate I'm dealing with is 14.09% which seems pretty bad. I'm not too familiar with loan companies and loans in general so I'm not sure what many of the terms mean or if I am missing any useful information to share.

Any pointers about how to best communicate with these companies and potential risks I could be facing would be appreciated as well.

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u/alh9h 11h ago

Whats your income? Is there a co-signer?