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Student loans can often be renegotiated. The federal government offers programs to individuals who are having trouble making their student loan payments. One option is forbearance. This is a temporary postponement or a reduction in your payments for a period of time due to financial difficulties. Your interest will continue to accrue but you will get some relief from amount you have to pay each month. There are also income sensitive and graduated payment plans available for those who are having trouble repaying their student loans. The amount of money you pay on your student loans will rise and fall with your income when you enroll in one of these programs.
If you student loan is already in default, you may want to enlist services of a debt consolidation organization who may be able to help you reduce interest and fees you owe on your student loans and help you pay down balance quickly.
Ken Austin is the webmaster at http://www.hazeydee.com and http://creditrelief.kraustin.com