I need help with paying student loans back - i'm going crazy please help

I need help with paying student loans back and I'm going crazy please help me. I have $150,000 in student loans and I am on a graduate job however the repayments are killing me. Every month I struggle to make ends meet and am regretting my decision to study while getting into debt. I feel like I don't have a way out and need advice. I admit that I need help paying my student loans.

If anyone has any advice please share it here because I don't know where else to turn to. I need to know more about loan deferment? What is a loan deferment and how can it help me? Does anyone know of any program which offer assistance paying student loans. Any words of wisdom, encouragement or advice would be appreciated.

Student loans are a pain in the butt. I've had student loans but I've managed to pay it off aggressively because the payments were draining all the energy inside me.

A deferment or forbearance allows you to temporarily postpone making your federal student loan payments or to temporarily reduce the amount you pay. If you want to know if you are eligible for a temporary postponement check out the following Government Student Aid Website.

Its worth noting that During a deferment, you do not need to make payments. What’s more, depending on the type of loan you have, the federal government may pay the interest on your loan during a period of deferment.

The following table provides situations that may make you eligible for a deferment of your federal student loan. The information was taken from the Deferment Forbearance page of the Student Aid Official Government website.

Situations When You May Apply for Deferment

Deferment Available?

1. Direct Loans
2. FFEL loans
3. Perkins Loans

During a period of at least half-time enrollment in college or career school

1. Yes
2. Yes
3. Yes

During a period of study in an approved graduate fellowship program or in an approved rehabilitation training program for the disabled

1. Yes
2. Yes
3. Yes

During a period of unemployment or inability to find full-time employment

1. Yes (for up to 3 years)
2. Yes (for up to 3 years)
3. Yes (for up to 3 years)

During a period of economic hardship (includes Peace Corps service)

1. Yes (for up to 3 years)
2. Yes (for up to 3 years)
3. Yes (for up to 3 years)

During a period of service qualifying for Perkins Loan discharge/cancellation

1. No
2. No
3. Yes

During a period of active duty military service during a war, military operation, or national emergency

1. Yes
2. Yes
3. Yes

During the 13 months following the conclusion of qualifying active duty military service, or until you return to enrollment on at least a half-time basis, whichever is earlier, if

you are a member of the National Guard or other reserve component of the U.S. armed forces and

you were called or ordered to active duty while enrolled at least half-time at an eligible school or within six months of having been enrolled at least half-time

1. Yes
2. Yes
3. Yes

Rather than going for deferment for forbearance I would strive to pay off the student loan. Although my debt was not as large as yours I was able to pay it off by doing the following

1. Asking parents for help with student loans
2. Taking a second job and using all the money to pay off student loans
3. Cutting my expenses by 60% and using the savings to pay off the loan
4. Taking in a room mate and using the rent to pay off student loans
5. Creating an online business to pay off the student loan

I would urge you to stop making minimum payments or using loans and credit cards to keep up with student loans. Pay the debt off aggressively and be done with it!