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student loans

Forum: Financial Planning and Budgeting


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April 13th, 2010, 05:09 AM
Mega Super Mommy
Join Date: Aug 2007
Location: Southern Germany
Posts: 4,654
Hello, my name is Jessie. This is my first time posting on this board. Hoping someone could give me some advice or maybe just lend a sympathetic ear.

My dream for as long as I can remember was to become a vet. This past June, after 9 years of university education, I accomplished that goal. At that point I was 20 wks pregnant with my first, and as of now I am being a SAHM. My husband is German and we are currently living in Germany.

My parents are lower middle class but still very generously paid for half of my undergraduate degree. I also worked part-time and the rest were student loans. When I went to vet school, they could no longer help and it is impossible to work during such a difficult course. The rest came from loans. I was living separately from DH, as the program I was accepted into was not in germany. I took out the very minimum amount possible. I really lived like a poor student just to attempt 'damage control'. Even with all my attempt, I have students loans equal (and maybe more) than a lot of people's mortgages.

Since giving birth, I have searched religiously for vet positions in the area... and even out of the area. I have sent out resumes, made calls, and nothing. Can't find a job, not even part time. I have had to take out forbearance on all my loans (yes, which I know is a bad idea but I couldnt find any other option).

My husband luckily has a good paying job that covers our household expenditures. It's just not enough for my debt too. We live frugally... own only one 2001 honda, buy second hand clothes, shop the cheapest stores for groceries, ect ect. We have a mortgage and thats about it.

Now my loans are coming back into repayment. Still can't find a vet job. Now I am forced into applying for jobs out of my field. I have a few applications out, just waiting to hear back. Assuming I get a job, I will have to accept about 1/3 of the salary that I would make as a vet. My german is not fluent, so I would have to drive about 1 hr each way to get to one of these english speaking jobs. Adding in daycare or nanny and the very high European fuel costs, and I will barely come away with anything- literally. Definitely not enough to make the minimum payments.

Does anyone have any advice for me? Are there any associations that could help me negotiate MUCH smaller payments? Does anyone know anything about the new IBR (income based repayment) scheme? I am thinking about consolidating my loans and then signing up for the IBR. Just not sure how that would work... I wouldn't know how/if I would have to claim my husband's income. He is not a US citizen, does not work for the US in any capacity, and does not pay US taxes.

Thank you anyone and everyone for reading this and responding.
He's here!
Cody Ryan
December 3, 2013 at 433 pm
7 lbs 6 oz, 21 inches
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April 14th, 2010, 12:03 PM
Lynsann's Avatar Platinum Supermommy
Join Date: Oct 2005
Posts: 8,867
I am so sorry! I'm sure that eventually you will be able to find a vet job that you love, but for now it seems that you are doing everything you can under the circumstances. Once you do find a job, you can reevaluate what you'll need to do, but it's hard to know right now when you don't know exactly what's coming in. I haven't had student loans so I honestly have no idea how it works. I wish I had some advice! There are some great ladies that frequent this board though that know much more than I do. Hopefully they'll respond. Good luck and keep us posted when you can!
Mommy to Ava (5/24/06) and Kai (5/11/09)
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April 21st, 2010, 01:57 PM
mommy2Breana+Brandon's Avatar Platinum Supermommy
Join Date: Dec 2006
Location: PA
Posts: 39,401
I am sorry you are going through this.

I hope you can find something and start to get your loan paid off.

Do you love food, entertaining, cooking?!?! Then you will LOVE Tastefully Simple. www.tastefullysimple.com/web/cpisch

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September 7th, 2010, 08:19 PM
Join Date: Sep 2010
Posts: 12
Student loans are SO hard. Good luck.
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October 27th, 2010, 06:01 PM
meryrosy's Avatar Mega Super Mommy
Join Date: Apr 2007
Posts: 4,240
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i understand where you are coming from. I have over $40k in student loans from Nursing school. Have you tried calling your loan companies? They can explain to you how the IBR works. I have read a few things about it online but am not too familiar with it. I really suggest you call and let them know your situation. explain everything. almost always they try to help. Good luck.
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