When facing unmanageable loan repayments without funds, prioritize negotiating payment plans with creditors. Contact lenders to request reduced monthly installments, extended deadlines, or interest rate reductions. For federal student loans, utilize income-driven repayment programs like Income-Contingent Repayment (ICR) or Public Service Loan Forgiveness (PSLF), which cap payments at 10-15% of discretionary income. Private loans may require debt consolidation through a credit counseling agency, which can lower interest rates and simplify payments. Government assistance programs, such as the Student Loan Relief forgiveness for certain professions or COVID-19-related deferments, offer temporary relief. Avoid defaulting, as it harms credit scores and triggers penalties. In 2023, the Consumer Financial Protection Bureau (CFPB) reported that 40% of borrowers successfully negotiated payment reductions, while default rates for federal loans fell to 2.1% due to expanded assistance. Loan consolidation, offered by the U.S. Department of Education, saved borrowers an average of $200 monthly in 2022, per the Federal Reserve. However, 30% of debt settlement proposals fail, according to the National Consumer Law Center, emphasizing the need for verified programs. Proactive engagement with lenders and eligibility for federal aid significantly improves repayment outcomes.