The Loans That Bind


Whenever I think about my student loan, I can’t help but to think how burdensome it is now to pay back.

I wish my parents took some kind of education loan policy when they first had me 28 years ago. If they have enrolled in such education scheme for their children education, I don’t need to borrow RM60,000++ from the government of Malaysia to pay for my undergraduate fees. But I think such scheme was not available in my country 20 years ago. Only recently I read in the news that our government came up with such education scheme.

It is not that I don’t want to pay back the student loans, but at the rate of income I have now, the monthly repayment amount was too high for me. I have sent appeal letter to the governing bodies requesting for lower repayment amount or longer repayment period but up till now, it makes no difference. The repayment bill still arrive in the mail box stating the same amount I should pay back to them, sigh!

When I read online about Washington student loan, I was upbeat about such prospect for student loan consolidation.

If you have more than one loan, you can consolidate them and pay just one amount with one interest rate. I know few friends during their degree years who have to take at least 2 different loans to finance their study. Now after completing their degree, they are bound to pay both type of loans from 2 different lenders, of course with different amount and interest rates.

If you took Arizona student loans, you also have the student loans consolidation options to consider. Why can’t my country has such options too?

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