Student Loan Hell.

[memphissfinest]

I'M ON THE HOOK FOR 200 A MONTH. 7 YEARS LEFT TILL PAYOFF.

 

[crazy dav0]

Originally Posted by FEELLEAL

Here is info for the public service Employees loan foriveness program. It was signed into law when bush was president. It is not just for teachers, also there is a program for those in law school. Basically you have to consolidate your loans, make 120 payments (10 years), not be in default of any o your loans and work in the public sector or with a non-profit and your loans will be forgiven

http://studentaid.ed.gov/...es/LoanForgivenessv4.pdf

if u have ur loans consolidated it doesn't apply ... i just got off the phone with AES ... i hope they were lying ... i work for the gov't and i'm not eligible. The dude said i have to go through direct loan servicing.

 so i'd have to stay here at the gov't and make another 120 payments ... what a bunch of garbage ...

i will continue to follow up with this though ... they know that everyone consolidates loans so it's bs to make it this way ... i hope i still get credit for my past payments if i do decide to move away from AES as my servicer

  

 

[jking0821]

I wish my payments were $400 a month. That would make life so much easier.

 

[crazy dav0]

Originally Posted by cRazy dav0

Originally Posted by FEELLEAL

Here is info for the public service Employees loan foriveness program. It was signed into law when bush was president. It is not just for teachers, also there is a program for those in law school. Basically you have to consolidate your loans, make 120 payments (10 years), not be in default of any o your loans and work in the public sector or with a non-profit and your loans will be forgiven

http://studentaid.ed.gov/...es/LoanForgivenessv4.pdf

if u have ur loans consolidated it doesn't apply ... i just got off the phone with AES ... i hope they were lying ... i work for the gov't and i'm not eligible. The dude said i have to go through direct loan servicing.

 so i'd have to stay here at the gov't and make another 120 payments ... what a bunch of garbage ...

i will continue to follow up with this though ... they know that everyone consolidates loans so it's bs to make it this way ... i hope i still get credit for my past payments if i do decide to move away from AES as my servicer

  

Update : ... so you have to go through Direct loan servicing ... phone # 800-848-0979 

More information at www.loanconsolidation.ed.gov and www.dl.ed.gov

The lady told me non of my payments made count towards the 120 payments since i was with a different servicer ...

Bush is a joke

oh yeh and SHE SAID YOU MAKE PAYMENTS BASED ON YOUR SALARY ... i'll just keep paying it down ... too much of hassle

    

 

[ryair max 1]

for private loans, having good/great credit helps your monthly payments.

I still would not advocate them unless last resort but get your credit score up or find a co-signer with a pristine credit score.

Also, check to see if there a way to release your co-signer after a certain amount of time.

 

[solewoman]

Originally Posted by ExtRaOrDinaRy SwAg

Originally Posted by kobe4threebang

make sure u guys relise that all of those "loan forgiveness" programs and laws obama is passing dont have anything to do w/ private loans u will have those forever cant file bankruptcy on them cant make them lower the pymt etc u pay what the bank tells u to pay and when

yep good point, they only forgive federally insured loans. here's a list of them


Q18.  What are examples of the loans that qualify under the student loan repayment program?

A18.  Loans made or insured under the Higher Education Act of 1965 include the following:

Federal Family Education Loans (FFEL)

• Subsidized Federal Stafford Loans
• Unsubsidized Federal Stafford Loans
• Federal PLUS Loans
• Federal Consolidation Loans

William D. Ford Direct Loan Program (Direct Loans)

• Direct Subsidized Stafford Loans
• Direct Unsubsidized Stafford Loans
• Direct PLUS Loans
• Direct Subsidized Consolidation Loans
• Direct Unsubsidized Consolidation Loans

Federal Perkins Loan Program

• National Defense Student Loans (made before July 1, 1972)
• National Direct Student Loans (made between July 1, 1972, and July 1, 1987)
• Perkins Loans (made after July 1, 1987)

Loans made or insured under the Public Health Service Act include the following:

• Loans for Disadvantaged Students (LDS)
• Primary Care Loans (PCL)
• Nursing Student Loans (NSL)
• Health Professions Student Loans (HPSL)
• Health Education Assistance Loans (HEAL)

  

does this count for loans that have been consolidated if you had those^. like i have those loans but i have consolidated them. would i be available for student loan repayment/forgiveness (either through governement service or military?)

 

[humble pedant]

I'm about to start school and was wondering if i should go for a private loan or the parent plus loan? What do you guys think..

 

[krazy88s]

Originally Posted by Humble Pedant

I'm about to start school and was wondering if i should go for a private loan or the parent plus loan? What do you guys think..

Private loans have real high interest rates. Be aware. I thought the Parent Plus Loan needed your parent to co-sign. If so, check with your family if they want to do it. 


  

 

[pharelfor3]

I start paying in a month. 12K in private loans. smh

 

[pianoman52]

what are your guys' interest rates on these payback plans? mine's is fixed at 1.99%

 

[mikeu]

Originally Posted by dreaface

I would kill for $400 a month... and i know man. I guess its not first on his priority list.

my teacher told me she pays 100$ for like the next 10 years when she got out of college and i thought that was a lot

  

 

[alkatrez]

Not 100% sure on this, but I believe they are about to cancel the NC Teaching Fellows program.  Double check to be sure.

 

[degenerate423]

Originally Posted by Purpledino

Degenerate423 wrote

army is not a bad idea b/c they pay off your loans give you housing/food + pay you for active duty. If your a graduate you can do officers training in a quick minute and get +5k annually. If them paying off 1/3rd of loan +28k is more then you'd make, you should consider it. Another cool thing is the GI bill (0% down payment on a house). But... don't forget it's the army, they'll work you to death.

I hear ya on that last part.  Do you get the same benefits by joining the Air Force?  I know a girl stationed in Italy right now, and after seeing some of the pictures she's posted on fb, I feel like I made the wrong choice going to college

.  I suppose it'd be hard to get stationed in a place like Italy or Hawaii, but #%!# anywhere beats the debt I'm about to incur in a couple years...


Benefits for joining the air force should be similar. They usually have a "wish list" where you can put where you want to get deployed, but its no guarantee or anything. If your in a training for a job that is in high demand for the air force you have more power to decide where you want to go as well as enlistment bonuses (probably like 20k). Some of these jobs include: Fire support specialist, tactical data systems specialist for field artillery, crypto linguist-analyst, motor transport operator. I'm deciding next year whether I'll join the army or not because they offer the best for my occupation. Check out the different benefits for army, navy, airforce + others and see what works best for you.


I'm currently majoring in Computer Science, kinda scared cuz I haven't been coding over summer

, but I'm not sure if that major will do anything for my salary.  I'm definitely gonna look into it closer to next summer just to see if it's still something I'm seriously considering or if it's a last resort type of thing.  Good luck though man, I'm sure things will eventually pan out for us college debt carriers

...

Originally Posted by Humble Pedant

I'm about to start school and was wondering if i should go for a private loan or the parent plus loan? What do you guys think..

I'm not sure if it's this way for all schools, but for my school you have to start making payments on the parent plus loan a few months after you get it and, like someone else said, it goes in your parent's name so they have to sign it.  Don't quote me on this, but you can defer payments on a private loan until after you graduate, but you get higher interest rates.  I'd go with the parent plus loan if your parents are cool with that because you get a lower interest rate and fed direct loans are eligible for loan forgiveness programs.

 

[wraith aka invincible]

Originally Posted by eLNiNo4530

I have a loan thru Chase and a Federal Loan.

Somehow 25k to Chase is only $150/month and 9k to Direct Loans is like $96. Been trying to double pay though to just get rid of these things

if your paying 150 a month your going to be paying for a minute

 

[roc4life24]

Originally Posted by alkaTREz

Not 100% sure on this, but I believe they are about to cancel the NC Teaching Fellows program.  Double check to be sure.

and i fear this will spread due to D.C.  money problems 

 

[idealapotheosis]

I'm paying 1900 a month so consider yourselves all lucky.

 

[impalaballa187]

Thankfully, I've only got about $5K in loans, so it's not that big of a deal. I'm teaching for 2 years too to get that erased. What are you all making annually?

 

[Johnny_Cakes]

Originally Posted by IdealApotheosis

I'm paying 1900 a month so consider yourselves all lucky.

Wow, jaw literally fell. How much was your debt before payments?

 

[idealapotheosis]

I want to say 170K+? It costs a lot to go through Pharmacy school in CA.

 

[mpdaking]

so let me get this straight, you guys with payments have already graduated, correct?

 

[jking0821]

Originally Posted by mpdaking

so let me get this straight, you guys with payments have already graduated, correct?

Yes that is correct

 

[the encore]

Sallie Mae wasn't and still isn't trying to work w/ me to lower my payments ... They are asking for about 1K+ a month ... I told them to Eat a D, and they can get the money when I kill myself due to them pressuring me

 

[mojodmonky1]

Originally Posted by The Encore

Sallie Mae wasn't and still isn't trying to work w/ me to lower my payments ... They are asking for about 1K+ a month ... I told them to Eat a D, and they can get the money when I kill myself due to them pressuring me

how would they stand to benefit from your death?  trust fund baby?  lot of non-cash assets?

  

 

[the encore]

Mojodmonky1 wrote:

---

Originally Posted by The Encore

Sallie Mae wasn't and still isn't trying to work w/ me to lower my payments ... They are asking for about 1K+ a month ... I told them to Eat a D, and they can get the money when I kill myself due to them pressuring me

how would they stand to benefit from your death?  trust fund baby?  lot of non-cash assets?

  
Idk if the debt gets carried over to someone else, but they said that it would be wiped away (aka they don't get %@@@)

Honestly, I don't care ... Times are extremely hard for a lot of people and they people aren't trying to work w/ me @ all ... They said "Let's lower it from (not accurate) $1,300 a month to $1,115 a month"

All I'm asking is for them to make it a reasonable monthly amount .... If i had a dispoable 1K a month, I wouldn't have taken out a loan in the 1st place .. I'm paying rent, other loans, cost of living expenses, bills, etc. #CANILIVE

    

 

[kingsuperbiv]

I owe 60k. 'm not even pressed about these student loans and never will be. i already came to the conclusion the only way they will get their money is if i hit the lottery.

Havent paid on my loans in 5 years