The quoted Annual Percentage Rate (APR) with discount includes a customer interest rate discount of 0.25% for having a prior student loan with Wells Fargo or a qualified Wells Fargo consumer checking account and requires a 5-year term. APRs may vary based on terms selected. Repayment term options may include 5, 7, 10, 15 and 20 years based on credit qualifications. (A 20-year repayment term is available when the consolidation loan amount is $50,000 or more). Variable interest rates are based on an Index, plus a margin. The Index is equal to the Prime rate published in the Wall Street Journal. The APR for a variable rate loan may increase during the life of the loan if the index increases. This may result in higher monthly payments. Rates are current as of 10/01/2019 and subject to change without notice. Wells Fargo reserves the right to change rates, terms, and fees at any time. Your actual APR will depend upon your credit transaction, credit history, and loan term selected and will be determined when a credit decision is made. For questions, please contact us at 1-877-315-7723.
I received my master’s degree in 1998 and have been paying towards my federal loans since (aside from a short period of forebearance). I entered the IBR plan about two years ago. In terms of the loan forgiveness component, do my seventeen years of payments prior to entering IBR count towards the 25-year forgiveness mark, or did that 25-year period only commence with my entrance in the IBR program itself (in which case I would conceivably be paying off my loan over 42 years)?
Refinancing student loans makes sense for many people if they are eligible. For starters, student loan consolidation (which is included in the student loan refinancing process) simplifies the management of your monthly payments. Refinancing allows you to consolidate both your federal and private loans, select a repayment term that makes sense for you, and often lower your interest rate. Here at Earnest, the entire application process is online, and you could have your new low interest rate loan in less than a week.
Hi. Ten years ago my husband attended a for profit college that will officially be closing its doors in September of this year due to false recruitment practices. He worked in the field for 10 yrs but two years ago he could no longer take the pay or the hours and changed fields. His loans were all federal loans. Does he qualify for loan forgiveness?

Hello Robert, I recently read your post about FedLoan servicing which is my student loan servicer. I am a recent grad and my loans have just exited their grace period. I have been in the process for about 2 months now to try and switch to a pay as you earn or an income based plan. My application is in, but have not heard about processing. Any advice on how to achieve and get news about this with FedLoan servicing?
For example, if you have both Direct Loans and other types of federal student loans, and you have been making payments toward PSLF on your Direct Loans, you should not consolidate your Direct Loans along with your other loans. Similarly, if you have Federal Perkins Loans and you are employed in an occupation that would qualify you for Perkins Loan cancellation benefits, you should not include your Perkins Loans when you consolidate. Leaving out your Direct Loans or Perkins Loans will preserve the benefits on those loans.

I have an associate in nursing with student loans from a school that promised accreditation and never got it, so they changed the name and got accredited then. Whats frustrating to me is there are only limited places I am able to work for so many years due to them not being accredited. I have to pay these loans back, and I’m wondering what is the best option to do.

I have $60,000 in student loan debt from becoming a counselor, I was on the Public service forgiveness program on the IBR plan working at a social service agency, I made 5 years of qualifying payments but I recently left to go into private practice so I wouldn’t have to deal with insurance companies and productivity requirements, but I am assuming now being self employed, although I am doing the same kind off work, that this employment will no longer qualify for public service forgiveness, is this correct? Any suggestions on how to navigate this?

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.

My navient and nelnet government student loans are both in hardship deferments. If I consolidate these two student loans when my deferments end in june, this month, 2019, and July next month 2019, will this new consolidated student loan qualify for ibr and the 20 and 25-year undergrad and grad student loan forgiveness? My student loan debt exceeds my own income at this time so much that my monthly payment will be set at $0. However, I filed a joint return with my husband this year, so if I go on ibr this year, my monthly payment will not be $0 but based on both my husband’s (primary income) and mine ($12,000 per year). Our debts are such that we cannot afford the ibr payments based on our joint income tax filing for this year. If I fail to make any payments on either student loan once my deferments end this month, in June and next month in July, until the new 2020 tax year, so in Feb and March 2020, can I then just file separately and qualify for the ibr $0 monthly payment? I just wonder (am terrified) of what will happen in the 7-month period when I’m not making any payments; should I let my student loan lenders know my situation? If I miss 7 payments, so not yet defaulting, will i still qualify for ibr after these missed payments? Thank you for your help; I sometimes want to jump off a bridge when I see that terrifying student loan debt total.


My husband and I have only been married for 4 years. He is 49 and I am 42. He has 4 kids but 2 only in high school, one in college, and one just went through Marine boot camp training for the Nat. Reserves. He is a CRNA making 135K paying $1500 in child support (joint custody). I am a teacher (7th full year), with 2 children receive zero child support (joint custody). He has $225K loan debt and I have $125K loan debt. The last two years we filed separately and on the IBR program. This helped him because his was originally a Graduated plan. At this time he pays $600 on one loan and $200 on another loan(I believe it is the private loan). I pay $0 now based on this plan.
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.
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?

What kind of consolidation did you do, and what were your loans (all Federal? all Private? a mix of both?). The Loan Forgiveness Program that everyone is looking at is only for Federally-funded student loans, and currently, does not offer benefits for any loans that were taken out before October 2007, so until that eligibility rule is officially changed, you won’t be able to take advantage of the program.
I have $17K of subsidized student loans left to pay after about 12 years of payments. I’ve been at my public service job for about 12 years also. I never enrolled in any forgiveness plan. Is there a way for me to get the $17K forgiven or do I need to enroll in a program now, then my payments start “counting” towards the 10 years (which wouldn’t make sense)?
Student loan forgiveness for nurses. Nurses shouldering student debt have several options for student loan forgiveness: Public Service Loan Forgiveness, Perkins loan cancellation, and the NURSE Corps Loan Repayment Program, which pays up to 85% of qualified nurses’ unpaid college debt. Public Service Loan Forgiveness may be the most likely option for most nurses — few borrowers have Perkins loans, and the NURSE Corps program is highly competitive.
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