MELANIE THOMPSON, ATLANTA, GEORGIA: Hello, my name is Melanie Thompson. I am from Atlanta, Georgia. My question is why is it so hard for us to pay back our student loans? Is there anyone out there that could help us?</s>BILL DORMAN, CNN FINANCIAL CORRESPONDENT: To help answer your question about student loans, I called the National Council for Higher Education Loan Programs office, in Washington, D.C. Officials there were pretty helpful, but their suggestion for a starting point is talk to your lender: It all comes back to the lender and what you can work out as a repayment program. There are several flexible repayment options you might want to consider. One is called a graduated repayment program. This one starts with small payments -- say about $50 a month -- then, over a 10-year period, it stretches out, it increases. The idea is as salary goes up, as your work experience goes up, you're able to pay become more. But again, it starts at a low point, say about $50 a month. You can also stretch out the entire period of your loan, but officials warn this may raise interest costs and wind up costing you more in the long run. The key to this is, though, to check with your lender, and also check the paperwork that comes with your original loan program. Thanks for asking. TO ORDER A VIDEO OF THIS TRANSCRIPT, PLEASE CALL 800-CNN-NEWS OR USE OUR SECURE ONLINE ORDER FORM LOCATED AT www.fdch.com
Ask CNN: Why Is It So Hard for Us to Pay Back Our Student Loans? Is There Anyone out There That Could Help Us With Them?