Hi there guys, I'm looking for some help and advice on next steps.

I have nearly $80k in student loans with Firstmark Services after they bought Discover's loans, with a monthly payment of around $800 a month. Since getting both my undergrad and master's degrees, I've only been able to secure employment as a substitute teacher or a bartender, neither of which have paid nearly enough to be able to afford my monthly payments, as well as other loans and just general cost of living expenses. As a result, my Firstmark loans have been in default since 2024 and I've largely just lived with my head in the sand, ignoring calls, emails, and letters, etc.

The issue is, my grandmother, who is my cosigner, recently received a letter from Firstmark offering a deal to settle the balance on the loan for less than what's due. My family knew I struggled with payments but I don't think that they realized that I was in default. I'm at a loss of what next steps to take, as the current past due amount is $16,000 and I don't have nearly enough to be able to pay that off as well as continue to pay monthly rates, however I hate to leave my grandmother exposed to any stress regarding my loans, as she's currently battling cancer. Should I speak with Firstmark to see how much less I'd be able to pay to try and absolve the current defaulted amount? I know not to trust private loan lenders and I regret ever taking loans from them in the first place, but that feels like the best way to at least see what my options are. Would speaking with them reset the SOL on my loans?

Any and all advice or tips are welcome. Thank you all so much!