For eligible Associates degrees in the healthcare field (see Eligibility & Eligible Loans section below), Lender will refinance up to $50,000 in loans for non-ParentPlus refinance loans. Note, parents who are refinancing loans taken out on behalf of a child who has obtained an associates degrees in an eligible healthcare field are not subject to the $50,000 loan maximum, refer to https://www.laurelroad.com/refinance-student-loans/refinance-parent-plus-loans/ for more information about refinancing ParentPlus loans.
I have a question I have a parent plus student loan that I never applied for, the loan paper they mailed to me has what looks like my signature. But I never signed that paper there are three different types of hand writing on it, any way my son was paying it until there was a class action law suit for his loan that was ac heaved the same way mine loan was I have been telling them for years not my email that you are sending the bills to I everyone once in a while would get a letter via snail mail. it has been about 10 years and I have never made a single payment and I have been sent to Pioneer collection. what can I do.

I am a mother of a child with a permanent disability. Do to my child needing my full care and attention, I could not finish school. I’m over $11,000 in debt with Mohela in student loans. Can my loans be forgiven, or discharged? I have been in a repayment plan that requires me to pay $0. Every year I have to renew it. I know I will not be able to make any payments anytime soon as I still care for my little one.


Next, you can choose what type of interest rate you want when you refinance. Variable-rate student loans can cost you less to start, but there’s the possibility that the interest rate goes up later. As a general rule, a variable-rate loan works well when you only need a couple years to pay off the balance, but you may also want to read more about choosing between fixed and variable student loan refinancing.
Yes i graduated college in 2010 and joined the navy in Fall of 2012 while I was at MEPS i was not aware of the Program the navy offered for Student Loan Forgiveness.. Now I am currently still in , and I have been doing some research about the Navy program for Student Loan Forgiveness and it is only offered for people who are about to join the navy. I am wondering are there any programs for Active Military Personnel like my self can qualify for???
Military student loan forgiveness and assistance. Military personnel in the Army, Navy, Air Force, National Guard and Coast Guard may qualify for their own loan forgiveness programs. In the National Guard, for example, qualifying soldiers and officers could receive up to $50,000 to pay off federal student loans through the Student Loan Repayment Program.

For Associates Degrees: Only associates degrees earned in one of the following are eligible for refinancing: Cardiovascular Technologist (CVT); Dental Hygiene; Diagnostic Medical Sonography; EMT/Paramedics; Nuclear Technician; Nursing; Occupational Therapy Assistant; Pharmacy Technician; Physical Therapy Assistant; Radiation Therapy; Radiologic/MRI Technologist; Respiratory Therapy; or Surgical Technologist. To refinance an Associates degree, a borrower must also either be currently enrolled and in the final term of an associate degree program at a Title IV eligible school with an offer of employment in the same field in which they will receive an eligible associate degree OR have graduated from a school that is Title IV eligible with an eligible associate and have been employed, for a minimum of 12 months, in the same field of study of the associate degree earned.

Receiving a TEACH Grant requires completing an applications process that involves signing the TEACH Grant Agreement to Serve and formally accepting the requirements called for by the TEACH Grant Service Obligation, which states that you must teach low-income children in a high-need area for at least 4 total years within 8 years of receiving your TEACH Grant money.


Co-signer Release: Borrowers may apply for co-signer release after making 36 consecutive on-time payments of principal and interest. For the purpose of the application for co-signer release, on-time payments are defined as payments received within 15 days of the due date. Interest only payments do not qualify. The borrower must meet certain credit and eligibility guidelines when applying for the co-signer release. Borrowers must complete an application for release and provide income verification documents as part of the review. Borrowers who use deferment or forbearance will need to make 36 consecutive on-time payments after reentering repayment to qualify for release. The borrower applying for co-signer release must be a U.S. citizen or permanent resident. If an application for co-signer release is denied, the borrower may not reapply for co-signer release until at least one year from the date the application for co-signer release was received. Terms and conditions apply. Borrowers whose loans were funded prior to reaching the age of majority may not be eligible for co-signer release. Note: co-signer release is not available on the Student Loan for Parents or Education Refinance Loan for Parents.
Citizens Bank, one of the nation’s oldest and largest financial institutions, provides an integrated experience that includes mobile, online banking and lending solutions, a 24/7 customer contact center and the convenience of approximately 3,200 ATMs and approximately 1,200 branches. Citizens Bank is a leader in Student Loan solutions, offering lending solutions for parents, students and former students. The Citizens Bank Education Refinance Loan is a leading solution helping graduates and former students to better manage their student debt. Citizens Bank helps its customers reach their potential by listening to them and by understanding their needs in order to offer tailored advice, ideas and solutions.
Splash Financial: Annual Percentage Rate (APR) is the cost of credit calculating the interest rate, loan amount, repayment term and the timing of payments. Fixed Rates range from 3.50% APR to 7.03% APR and Variable Rates range from 2.43% APR to 7.76% APR. Both Fixed and Variable Rates will vary based on application terms, level of degree and presence of a co-signer. Fixed rate options without an autopay discount consist of a range from 3.75% per year to 6.49% per year for a 5-year term, 4.25% per year to 6.25% per year for a 7-year term, 4.59% to 6.54% for a 8-year term, 4.55% per year to 6.65% per year for a 10-year term, 4.79% per year to 6.59% per year for a 12-year term, 4.85% per year to 7.05% per year for a 15-year term, or 5.30% per year to 7.27% per year for a 20-year term, with no origination fees. The fixed interest rate will apply until the loan is paid in full (whether before or after default, and whether before or after the scheduled maturity date of the loan). Variable rate options without an autopay discount consist of a range from 2.68% per year to 6.30% per year for a 5-year term, 4.00% per year to 6.35% per year for a 7-year term, 3.69% per year to 5.72% per year for a 8-year term, 4.25% per year to 6.40% per year for a 10-year term, 4.47% per year to 6.36% per year for a 12-year term, 4.50% per year to 7.76% per year for a 15-year term, or 4.75% per year to 6.90% per year for a 20-year term, with no origination fees. APR is subject to increase after consummation. Variable interest rates will fluctuate over the term of the borrower’s loan with changes in the LIBOR rate, and will vary based on applicable terms, level of degree earned and presence of a co-signer. The maximum variable rate on the student refinance loan is 9.00% for 5-year, 7-year, 8-year and 10-year terms, and 10.00% for 12-year, 15-year and 20-year terms. The floor rate is 2.00%. These rates are subject to additional terms and conditions, and rates are subject to change at any time without notice. Such changes will only apply to applications taken after the effective date of change.
Designed to help you understand how consolidation will affect each of your loans, our detailed loan review process will provide you with the in-depth information you need in order to make an informed decision about which loans you want to consolidate and which loans you may want to leave out. You can reach out to your Student Loan Consultant at any point during the process.
All plans just look at your income from your tax return – so it also depends on how you file (married filing jointly versus married filing separately). That discretionary income is calculated on your AGI from your return, and it’s the same metric used for IBR, ICR, and PAYE. The difference is that IBR is 15% of discretionary income, while ICR is 20%. ICR also does not include forgiveness at the end, so IBR is always better.

I took out Federal loans, Perkins and Stafford Loans. Sallie Mae now handles them and consolidated my loans. I borrowed money for this education beginning in 1990. Interest has accumulated and as of today, I am not employed. I have filed forbearances, deferments, etc. and I keep accumulating interest and making no payments. I am wondering if I can qualify for “forgiveness” on this debt. It is now around $29,000.

I have my payments deferred at the moment as I have not been able to work, due to caring for my daughter with special needs. My husband is the only one working. The loans are in my name only. My/our question is this; If I can find a way to bring in ANY income at all, won’t it just make my payment go even higher? Because doesn’t every plan include my husband’s earnings?? My husband says it makes no sense to do that-try and find SOMETHING to earn because we will be out more money in the end-due to them always using his income. Are we missing something?
For example: if you elect to have the National Service Trust send $1,000 of your education award towards payment on a Direct Loan, and under your repayment plan you are expected to pay $100 each month, your education award payment would count as 10 payments towards PSLF, and you would not owe another payment for 10 months from the date the lump sum payment was applied.
First let me say thank you for this article and all the helpful advice. Originally I owed a little over 40k when I graduated back in 1998. I got some deferments and then I went into default. Govt takes my tax return and applies it to my loan repayment. Twice I tried to make arrangements to pay…first time I was told to “wait it out until I get a good offer to pay pennies on the dollar” the second time I was told that I needed to make a payment that I just couldn’t afford… I offered $100 a month until i had better cashflow and the guy laughed at me and told me that would be worthless.
Along with your credit score and annual income, some lenders also look at your savings and debt-to-income ratio. Finally, some lenders require proof of graduation, as they’ll only approve borrowers who have obtained their degree. If you left school before graduating, there are relatively few student loan refinance providers that will work with you.

I have about 325,000 consolidated student loan debt with the fed gov’t once graduated in 2009. I was under the IBR plan but loss of employment and medical bills caused me to go further into debt. I filed Bankruptcy but this did not cover the loans…I have a doctoral degree but have not been able to find anything in my field as a result to make the salary I was previously making. I am working 2 jobs to cover the BK payments plus my normal living expenses. I am wanting to ensure that I am doing everything possible to utilized the forgiveness option at the end of 20-25 years. Any thoughts or recommendations? Am I eligible for PAYE on the 2007??… I never thought I would be in this position and don’t want to be stressed. I have cut my lifestyle down to the bare minimum but it doesn’t seem like I can get ahead…
Income-driven repayment forgiveness. The federal government offers four main income-driven repayment plans, which allow you to cap your loan payments at a percentage of your monthly income. When enrolled in one of these plans, your remaining loan balance will be eligible for forgiveness after 20 or 25 years, depending on the plan. These plans are most beneficial for those with large loan balances relative to their income.
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