Hey Yvonne,

When I first got out of college, I also felt *incredibly* poor!! I was only making about $17K a year (with a college degree!) and couldn't afford to pay rent, car payments, insurance, yadah, yadah, yah (everything else!) on my entry level pay.

Student loans were just one !more! thing that I had to pay that I couldn't fit into the budget. I wrote a letter to the address that I sent my payment to, and just explained my situation. In the letter, I told them what my exact take-home pay was (and sent a copy of my most recent check), along with that, I sent a copy of my rental agreement (showing what I paid for rent), my insurance statement, and my car statement. The company that held my loan gave me a six month "grace" period to get on my feet.

In the letter that they sent me, they explained that at the end of the "grace" period, if my situation hadn't improved, to let them know. They were very understanding. Of course, they want the money back that you borrowed and are willing to work with you!

In a situation like this, there is no reason that you have to default on your loans, just explain your situation to them, and back it up with proof. As long as you are willing to pay something each month, or promise to resume payments when your financial situation is better - - they will work with you - - I know, I was there, too!!!

Good luck, hope it all works out for you!!!