I pay {$400.00} a month on a {$60000.00} loan. Of that {$400.00}, {$50.00} goes towards the principal and {$350.00} goes towards interest. I have asked to change the amount applied to the principal, the response being the only way to change is to pay more money a month. Which I ca n't pay, because my student loans are {$800.00} a month and I make {$XXXX} a year, I have a XXXX. I have asked to lower my payments because I ca n't pay them without causing financial hardship ; they have refused, except to offer to continuously extend the life of the loan so they reap more money on interest. My credit has been negatively affected because I could only pay {$100.00} towards my {$400.00} loan payment when just out of XXXX and making $ XXXX hour in XXXX . They would n't accept the {$100.00} and preferred to send me to the creditors. 

How they distribute paying off my loans is also morally and economically disputable. The loans that accrue the less money are paid off first. Most of the money from the monthly payments is paid to the smaller loans with the lowest interest rate ( {$2000.00} with 4.25 % ) and {$50.00} is attributed to the the {$13000.00} loans at a 3.25 % interest rate. This has happened to XXXX loans ranging from {$10000.00} to {$13000.00}. Loan consolidation is not an option, so my current payments go towards the balance on XXXX independent loans. Due to the fact they would not accept a lesser payment and my credit score was significantly negatively impacted, I do not qualify for another private loan to purchase these private loans and consolidate. Therefore, I am left powerless to rectify a negatively life impacting situation.