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I'm a taxpayer and I don't care. There are millions of others who don't care as well. It's only temporary, I care more about an individual getting up on his feet, then being buried with payments, plus paying taxes. It's not like I'm telling him to steal. And it's only temporary, people go through hard times and you gotta do what you gotta do
You're telling him to steal, along with telling his parents (the business owners) to steal. That's precisely what you're doing. You just think it's ok, because he's not taking the money directly out of your pocket, just indirectly.
To the OP, a bunch of good advice has been offered here, and a bunch of bad advice as well. Here's what I would say to sum it up:
1. Are there any cosigners on your loan(s)? If so, who are they? If your parents, then that's an even bigger issue with the "under the table" approach.
2. Apply to put your federal loans on the Income Based Repayment plan.
3. Keep applying for jobs. Apply everywhere and anywhere. I'm not sure where you live, but even a sales rep at some retail stores can make $30,000/yr. By the way, you never mentioned what your field is.
4. Continue working at the restaurant, AND work for your parents but ON THE BOOKS.
5. Have you chosen the extended payment terms for your private loans? This should lower the monthly payment, because it stretches it over a greater period of time.
6. What are your interest rates on your loans? Have you looked into consolidation at all? (this will be tough since you are young and may not have a high FICO score, but I've been getting things in the mail from Citizen's Bank about consolidating private loans for as low as 3% APR (variable rate) or around 5% fixed rate).
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