I filed for divorce in October 2016, our divorce won’t be final for two months yet. Because I married a high wage earner I have been paying $632/mo. On IBR, before marriage my payment was $107/mo. Can I file married but separate? Would you know if I need my husbands permission? He of course wants the higher tax break to benefit his bottom line- this is a contentious divorce- he is difficult to negotiate with. However, I need to secure a lower payment, one that reflects my new income.
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.

Student loans can be expensive. Whether you refinance federal student loans, refinance private student loans or both, you will work with a private lender to refinance student loans. This is because the federal government does not refinance student loans. Lenders want to refinance student loans for borrowers who they believe will repay their student loans.
After reading all the comments above I am extremely worried for my daughter who will be going off to college next year. The school she will be attending is a private Christian college, after scholarships she will have some debts. What types of loans should she get? There are so many I’m totally confused. I would like to help her make the right decisions from the beginning so she doesn’t go through what others are suffering.
You can refinance both your federal student loans and your private student loans through a private lender, such as a bank or one of the lenders offered by LendingTree. Refinancing your loans will combine all of them into one loan with one monthly payment. Your interest rate will be based off of your credit score, so if it’s higher than when you first applied, you should score an incredibly low rate.
Once you apply, it can take from 30 to 45 days to process. During that time, we complete the credit review process, you (and your cosigner, if applicable) will sign the loan documents and we will ask you to obtain payoff statements from your current loan servicers. If you prefer, we can schedule a call with you and your current loan servicer(s) to verify the loans you want to consolidate.

All loans must be in grace or repayment status and cannot be in default.  Borrower must have graduated or be enrolled in good standing in the final term preceding graduation from an accredited Title IV U.S. school and must be employed, or have an eligible offer of employment.  Parents looking to refinance loans taken out on behalf of a child should refer to https://www.laurelroad.com/refinance-student-loans/refinance-parent-plus-loans/ for applicable terms and conditions.

Terms and Conditions apply. Splash reserves the right to modify or discontinue products and benefits at any time without notice. Rates and terms are also subject to change at any time without notice. Offers are subject to credit approval. To qualify, a borrower must be a U.S. citizen or permanent resident in an eligible state and meet applicable underwriting requirements. Not all borrowers receive the lowest rate. Lowest rates are reserved for the highest qualified borrowers.


If Lender agrees (in its sole discretion) to postpone or reduce any monthly payment(s) for a period of time, interest on the loan will continue to accrue for each day principal is owed. Although the borrower might not be required to make payments during such a period, the borrower may continue to make payments during such a period. Making payments, or paying some of the interest, will reduce the total amount that will be required to be paid over the life of the loan. Interest not paid during any period when Lender has agreed to postpone or reduce any monthly payment will be added to the principal balance through capitalization (compounding) at the end of such a period, one month before the borrower is required to resume making regular monthly payments.
Federal Loan vs. Private Loan Benefits: Some federal student loans include unique benefits that the borrower may not receive with a private student loan, some of which we do not offer with the Education Refinance Loan. Borrowers should carefully review their current benefits, especially if they work in public service, are in the military, are currently on or considering income based repayment options or are concerned about a steady source of future income and would want to lower their payments at some time in the future. When the borrower refinances, they waive any current and potential future benefits of their federal loans and replace those with the benefits of the Education Refinance Loan. For more information about federal student loan benefits and federal loan consolidation, visit http://studentaid.ed.gov/. We also have several resources available to help the borrower make a decision at http://www.citizensbank.com/EdRefinance,including Should I Refinance My Student Loans? and our FAQs. Should I Refinance My Student Loans? includes a comparison of federal and private student loan benefits that we encourage the borrower to review.
I filed for divorce in October 2016, our divorce won’t be final for two months yet. Because I married a high wage earner I have been paying $632/mo. On IBR, before marriage my payment was $107/mo. Can I file married but separate? Would you know if I need my husbands permission? He of course wants the higher tax break to benefit his bottom line- this is a contentious divorce- he is difficult to negotiate with. However, I need to secure a lower payment, one that reflects my new income.
For details on how this program works, you definitely need to visit my page on the Borrower’s Defense Against Repayment Program, but because the system is so complicated, and can take so long to get an approval or denial response, this is one situation where I recommend that EVERYONE hires a student loan expert for assistance in preparing the application.
Consolidating multiple student loans or refinancing a single private student loan may lower your monthly payment if you qualify for a lower interest rate or a longer repayment period. Keep in mind that extending the repayment term may increase the total amount you pay over the life of the loan. Alternatively, if you choose a shorter repayment term than your current loans, your monthly payments may increase, but the total amount you pay may be less over the life of the loan.
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?
If you teach full-time for five complete and consecutive academic years in a low-income elementary school, secondary school, or educational service agency, you may be eligible for forgiveness of up to $17,500 on your Direct Loan or FFEL program loans. See StudentAid.gov/teach-forgive for more information and a form you can fill out when you have completed your teaching service.
Thank you. The article you referenced states that the AGI is minus personal exemptions and itemized deductions…which is wrong. “Adjusted Gross Income is calculated before the itemized or standard deductions” from a tax website. I WISH it was after exemptions and itemized deductions as that is a huge, huge difference in the AGI…but it’s not. My payment is supposed to be $400 based on my husbands income alone and their is no way we can do that now…none. If find SOME job to make that $400, the payment will just go UP…which is crazy. It’s like you cannot win. It seems to make no sense for me to work at all….which is wrong. Filing separately seems to be a choice, but we have a daughter in college and would lose the education deductions, etc. This whole thing is crazy if it makes more financial sense for me to not work at all! Or I guess he could file injured spouse year after year, but I just don’t understand why they won’t just consider MY income. Sorry for venting, just frustrated.

I went back to college at 35, just to get the piece of paper because I couldn’t get an accounting job without a degree after moving to a college town, even with nearly 20 years experience. Because of my hour commute to the next state for work, my most flexible choice was Univ of Phoenix online. I graduated in 2011, and went into repayment in March 2012. I paid 1 loan off before graduation and I’ve paid ahead since then, killing off 1 loan at a time so I’m down to only 5 loans left, with 1 of them paid down so it’ll pay off over a year early. Because I had my payment frozen a couple years ago, I’m also paying about $50 extra a month. I haven’t worked in almost a year and a half for medical reasons, and am waiting for a disability appeal hearing because I was denied on a technicality, so my boyfriend has been covering my student loan payment to protect my credit, and because I was raised that you pay what you owe. Am I better off continuing as is or will an IBR program not hurt my credit standing? It’s not that he minds, but I feel bad about him paying it when I can’t work.
I’ve been working for a non-profit for 4.5 years, and am on IBR, and have made 47 payments (full, on-time, etc….in other words, “qualifying payments.”) I have certified my employment. About half my loans ($25k) are through FedLoans, and the other half are through Navient. I’m on IBR for both. Navient told me they “don’t handle PSLF.” FedLoans told me I need to move my loans to them, by contacting Navient and asking them to transfer them to FedLoans. I did, and Navient told me they couldn’t transfer them, and that I should consider consolidation. It looks like if I consolidate, I’ll lose credit for the payments I’ve made!
Earnest fixed rate loan rates range from 3.45% APR (with Auto Pay) to 6.99% APR (with Auto Pay). Variable rate loan rates range from 2.05% APR (with Auto Pay) to 6.49% APR (with Auto Pay). For variable rate loans, although the interest rate will vary after you are approved, the interest rate will never exceed 8.95% for loan terms 10 years or less. For loan terms of 10 years to 15 years, the interest rate will never exceed 9.95%. For loan terms over 15 years, the interest rate will never exceed 11.95% (the maximum rates for these loans). Earnest variable interest rate loans are based on a publicly available index, the one month London Interbank Offered Rate (LIBOR). Your rate will be calculated each month by adding a margin between 1.82% and 5.50% to the one month LIBOR. The rate will not increase more than once per month. Earnest rate ranges are current as of October 11, 2019, and are subject to change based on market conditions and borrower eligibility.
I just read that the government is investigating ITT Tech just like they did last year to another for-profit college crackdown which caused Corinthian Colleges to close. In the event that these investigations would end in the school closing their campuses, does that mean my student loans get discharged as well? I graduated in 2005. Or that only applies to recent graduates and current students?
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.
I had a 47,000 student loan from 1997. In 2008 I was a substitute teacher and was not able to get any kind of loan adjustments to save my home. I have since stayed with various relatives and today I received a letter from a debt collector stating that the loan has been turned over to them. The last time I moved I was able to get work as a substitute teacher again. School has just begun so I am not working yet. The letter says that I now owe almost 90,000. $40,000 has been added to my loan. What should I do and do I qualify for any kind of loan forgiveness. How is it different since, it has been turned over to a debt collector.
1. Student loan collateral is your earnings. So like a car loan, the collateral is the car. If you don’t pay your car loan, the bank takes your car. It’s basically the same things for student loans. That’s why consumer protections like bankruptcy don’t apply. If you ever have the potential to earn money above subsistence level, that money (at least a portion of it) will go towards the debt. Whether you agree or disagree, that’s how it’s setup.
You’ll have to evaluate your situation to decide whether refinancing federal student loans is a wise decision. For example, if you work in the public sector and could qualify for loan forgiveness in the future, you’d typically be better off keeping your federal loans. On the other hand, if you don’t work in the public sector and you’ve had no problems making your loan payments to date, then you may want to go ahead and refinance to save money on interest.
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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.

Earnest fixed rate loan rates range from 3.45% APR (with Auto Pay) to 6.99% APR (with Auto Pay). Variable rate loan rates range from 2.05% APR (with Auto Pay) to 6.49% APR (with Auto Pay). For variable rate loans, although the interest rate will vary after you are approved, the interest rate will never exceed 8.95% for loan terms 10 years or less. For loan terms of 10 years to 15 years, the interest rate will never exceed 9.95%. For loan terms over 15 years, the interest rate will never exceed 11.95% (the maximum rates for these loans). Earnest variable interest rate loans are based on a publicly available index, the one month London Interbank Offered Rate (LIBOR). Your rate will be calculated each month by adding a margin between 1.82% and 5.50% to the one month LIBOR. The rate will not increase more than once per month. Earnest rate ranges are current as of October 11, 2019, and are subject to change based on market conditions and borrower eligibility.
Forgiven loans may be taxable. Generally, forgiven, canceled or discharged student debt is taxed as income unless you were required to work for a certain type of employer or in a certain profession to qualify for the forgiveness. For instance, loans discharged through Public Service Loan Forgiveness are not taxable, but debt forgiven through income-driven repayment plans is taxable. Loans discharged upon a borrower’s death or permanent disability were previously taxed as income, but the latest tax code changed that. Loans discharged for this reason after Dec. 31, 2017, are not taxable.
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