Hi everyone,

Wanted to see what your thoughts were on my current situation with my student loans.

When I was in college my mother took out 2 personal student oans in my name to pay for school. Repayment started my senior year in which I was obviously still in school and couldn’t afford to pay, I was under the impression that they were taken care of until I got a job.

Long story short they went to collections and I currently pay these two loans through a collections lawyer. My payments come out to $700 a month. The total of the loans are $28,000.

The issue I’m having is cash flow and my living expenses make it tough to save money. I am not charged interest on these loans either. I wanted to ask if you think it’s worth it for me to consider going to a debt consolidation company to pay these loans. I make about $800 a week, but I have other overhead expenses which it tough.

Is it worth it to be charged interest and have a lower payment so I can be more comfortable and save more money?