Oh no Jess, you really don't need this. Can you transfer the loans to another lender? I don't know if it's different in Canada, but here there are tons of lenders for student loans, and often you can transfer your loans to a different lender who may offer lower interest rates. Also, some have special programs that allow you to pay lower amounts to begin with for 3-5 years. Did you tell your current lender that you can't pay that amount? A lot of times they'll work with you. Also I have found www.upromise.com to be helpful, you can get some rebates when you buy certain items and use certain credit cards that can go straight to your loans. Good luck!