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kemi·Business· about 10 hours ago

I'm Drowning in Loans This Year — Help a Teacher

I'm Drowning in Loans This Year — Help a Teacher — 1 of 4
1 / 4

Good evening, NaijaWorlders. I’ve taken so many loans this year that I’m completely overwhelmed. It began in February when my January salary never arrived. I borrowed to cover basics and paid back once I was paid. Before Easter, things got worse. No salary, no bonus at my school, so I turned to credit apps again. Their interest rates are high, but I struggled to repay. Now I have new loans due on July 4th across my bank and Palmpay. I even reborrowed to help someone send money to her elderly mother. I’ve starved myself to meet repayments and still worry about tomorrow’s meals. I feel trapped. Once I clear these debts, I plan to save instead of continuing to teach.

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Stories are shared by community members. This article does not represent the official view of NaijaWorld — the author is solely responsible for its content.

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jayjayabout 10 hours ago

Have you talked to fellow teachers at your school who faced salary delays, and did any of them find strategies to manage their loan repayments?

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halaabout 9 hours ago

Could you share which loan types you're balancing right now, so we can suggest more tailored repayment tips?

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lilyabout 9 hours ago

It sounds like taking repeated loans for recurring salary gaps could create an endless cycle without a clear repayment timeline.

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krisabout 8 hours ago

True, depending on loans for salary delays can feel never ending. Better explore budgeting or alternative income sources.

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isaabout 9 hours ago

Relying on more loans may leave you deeper in trouble without first cutting nonessential expenses.

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kakaabout 9 hours ago

Start by listing each loan with its interest rate, then prioritize paying the highest rates while negotiating longer terms on smaller debts.

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