Rates and offers current as October 1, 2019. 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 3.48% APR to 6.03% APR and Variable Rate range from 2.67% APR to 7.41%. Both Fixed and Variable Rates will vary based on application terms, level of degree and presence of a co-signer. These rates are subject to additional terms and conditions and rates are subject to change at any time without notice. For Variable Rate student loans, the rate will never exceed 9.00% for 5 year and 8 year loans and 10.00% for 12 and 15 years loans (the maximum allowable for this loan). Minimum variable rate will be 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.This credit union is federally insured by the National Credit Union Administration.
I would just like to acknowledge your continued support and communication to the people who come to this site in search of answers – sometimes desperate, usually in despair, or incredibly stressed how to unearth the mountain of debt they’re under (including myself). I see this long thread of messages and I am astounded by your commitment to help nearly everyone that shares their story. So, short story long, THANK YOU for your work in bringing people direction, comfort, and help when they have no where else to turn. Even if you don’t receive much thanks, you are very much appreciated.

I am unemployed and my loans are in default, if I set up a payment plan will my loans come out of default? if so how soon. I know this sounds strange but I can not get a job in my field without an Bachelors or Masters I currently have an Associates) and want to go back to school to finish, I need loans to accomplish this. Also will I be able to get federal loans… or will that require private banks and I do not have a co-signer, there are eight of us kids, Mom is co-signed out!

CommonBond: Offered terms are subject to change. Loans are offered by CommonBond Lending, LLC (NMLS # 1175900). If you are approved for a loan, the interest rate offered will depend on your credit profile, your application, the loan term selected and will be within the ranges of rates shown. All Annual Percentage Rates (APRs) displayed assume borrowers enroll in auto pay and account for the 0.25% reduction in interest rate. All variable rates are based on a 1-month LIBOR assumption of 2.19% effective August 10, 2019.
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.
I have two loans outstanding : 1) original in Jan 1997 from Sallie Mae and 2) original 2012 from Navy Federal. I am a nurse practitioner and cannot figure out how middle class people are supposed to qualify for these federal loan dismissal programs. I have been in graduate school for past 3 years paying as I go along. What is left for me to do to get these paid off or forgiven? Very frustrating to say the least.
However, even if your payments are $0 per month, they WILL count toward your required 120 or 240 monthly payments to receive forgiveness. It sounds like you are probably going to have to make the entire 220 monthly payments, because I don’t think you could be qualifying for the Public Service Loan Forgiveness Program while you’re not working, but if you were injured on the job while working at a qualifying position… maybe?

There are no origination fees or prepayment penalties associated with the loan. Lender may assess a late fee if any part of a payment is not received within 15 days of the payment due date. Any late fee assessed shall not exceed 5% of the late payment or $28, whichever is less. A borrower may be charged $20 for any payment (including a check or an electronic payment) that is returned unpaid due to non-sufficient funds (NSF) or a closed account.
I currently have done 1 year in the Army Reserve after doing 5 years in the Air National Guard. I haven’t received a bonus from the Army because I was not eligible for any. Is there a program like the PSLF for people in the Guard/Reserve since we’re technically federal/DoD employees?? I was in school to be a pilot which ran me up to about $90,000 total…I enlisted to the Air National Guard where they did blood work to find out I have a Sickle Cell Trait and cannot fly unpressurized aircraft(hence cannot go through flight training). I pretty much wasted my time with school. I cannot file bankruptcy either or I’ll be discharged from the Army Reserve. Please Help!!!!

LendKey: Refinancing via LendKey.com is only available for applicants with qualified private education loans from an eligible institution. Loans that were used for exam preparation classes, including, but not limited to, loans for LSAT, MCAT, GMAT, and GRE preparation, are not eligible for refinancing with a lender via LendKey.com. If you currently have any of these exam preparation loans, you should not include them in an application to refinance your student loans on this website. Applicants must be either U.S. citizens or Permanent Residents in an eligible state to qualify for a loan. Certain membership requirements (including the opening of a share account and any applicable association fees in connection with membership) may apply in the event that an applicant wishes to accept a loan offer from a credit union lender. Lenders participating on LendKey.com reserve the right to modify or discontinue the products, terms, and benefits offered on this website at any time without notice. LendKey Technologies, Inc. is not affiliated with, nor does it endorse, any educational institution.
I will start repaying my 75,000 loan (undergrad/grad). I’m a military spouse and currently don’t have a job. How I can tackle my student loan with only 1 income. I’m planning to join the Navy reserve, will that help forgive some of my loan? What is the best way to pay off my loan considering our current income situation? I can pay at least 200 a month but can I do that or the FedLoan servicing will set the amount that I need to pay? You’re feedback will be very helpful. Thank you.
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.
Borrower, and Co-signer if applicable, must be a U.S. Citizen or Permanent Resident with a valid I-551 card (which must show a minimum of 10 years between “Resident Since” date and “Card Expires” date or has no expiration date); state that they are of at least borrowing age in the state of residence at the time of application; and meet Lender underwriting criteria (including, for example, employment, debt-to-income, disposable income, and credit history requirements).
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.
To qualify, you must be a U.S. citizen or possess a 10-year (non-conditional) Permanent Resident Card, reside in a state Earnest lends in, and satisfy our minimum eligibility criteria. You may find more information on loan eligibility here: https://www.earnest.com/eligibility. Not all applicants will be approved for a loan, and not all applicants will qualify for the lowest rate. Approval and interest rate depend on the review of a complete application.
I was enrolled in Army ROTC from 2007-2011. I had a false statement filed against me and was given one of two options. Serve 4 years active duty starting out as an E-1, or fight it with a formal board. I fought it and just recently have exhausted all my appeals. Several cadre members had even made statements pertaining to how the process was stacked against me from the beginning. I involved a state Senator and Congresswoman who both opened congressional inquiries. Still to no avail.
To answer your specific question about loan forgiveness and retroactive qualification though, no, you would begin making qualifying payments as soon as you enrolled in the right repayment plan. The payments you’ve made up to that point do not count toward your 20 years’ worth of full, scheduled, on-time payments, at least how the law is currently written.

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.
Yes I’m in the process of filing an application for loan forgiveness for a parent plus loan I’ve got all the info and the original denial letter from sallie Mae that said I wasn’t able to get this loan then was given one how in the hell does this happen. My son attended that ITT Tech school back in 2010. Do you think I will get some forgiveness for the institute falsely misrepresented my credit history?

I have student loans with Navient. These were originally FFEL loans that were direct consolidated with Sallie Mae now Navient many many years ago. I have been working in public service for 18 years. I have two questions. First, if I apply for Public Service Loan Forgiveness, my loans are then transferred to Federal Student Aid – how does that impact the monthly payment I am now making? Second, does that mean I have to make another 120 payments with Federal Student Aid once those loans are transferred to be eligible for forgiveness under this program?

i am considering going to grad school and my friends that did MBAs told me they took out loans and with forbearance if they make less than 50k a year after graduation they don’t have to start paying the loan off. i don’t know what kind of loans they had but does this sound right and what kind of loans are they talking about? Is it all the ones mentioned in this article?

If you want to get approved for a Borrower’s Defense Discharge, then you should call the Student Loan Relief Helpline’s Borrower’s Defense Against Repayment Hotline and pay them to review your situation, help you put together the legal arguments required for your application, and increase the odds that you’ll actually receive an approval after it’s been submitted.

Tim, thanks for doing what you do here. Any word on changes to the PSLF program, in lieu of the proposed $57K cap? I’m in the IBR program, working for a 501(c)3 nonprofit, and have been making qualifying payments for approximately six years – and I’m terrified that changes to the PSLF program will affect me. All my loans are federal. Also, I’ve been told by my loan servicer in the past that I don’t do anything “now” for PSLF, that I wait until closer to the end of the 10 years. Any insight into that?


I have federal loans that are over 28 years old. I now owe around 45,000. After I graduated I got pregnant and my daughter had health issues that required me being her primary caregiver, at home. I had a note from her doctor stating that fact. (Should have said that these loans were before I got married). My husband has no part in any of them. I worked as an LPN for about 5 years after she was older and in those 5 years my husband lost his job and we filed bankruptcy and lost our house. In 2008, we moved to another state and I had to homeschool my daughter. After 8 years, my husband was laid off and was lucky enough to be transferred to another state. He bought a house in his name only and the bank account has always been in his name only, as well. He knows I have a large amount of student debt. Daughter is now in college and due to anxiety issues cannot drive. I have to drive her to college and to her therapy appointments. She is and has been unable to be home alone-although therapy is working on that, with her. As my husband works 2nd shift, I cannot work (she would have to be home alone). Loans have been in deferment/forbearance and I just received notice that my deferment is ending. I can’t do IBR because they would count my husbands income…and I have had zero income for about 8 years. I don’t know where to turn. We have been through so much with our daughter and we never intended to be a one income family. What do I do?? My husband can’t make a payment for me and I have no idea at this point (due to daughter’s therapy) when I can return to work. Someone suggested just not paying and filing an injured spouse every year. It’s just so stressful. Any help would be appreciated.
Hi Robert, this is very helpful information you are posting here. My question is this. I am married with a single income (my income, spouse does not work). Both her and I have student loans. I have two that are in good standing – One federal loan that is currently on REPAYE, and another small private ALPLN type loan. My wife, has two loans of her own both federal which are sizeable. We’ve had those in and out of deferement/forebareance on and off for 3-4 years now based on her unemployment and time is up. We file married/joint. I’d like to get everything under control and get her loans on IBR with mine – my questions are do I have an option to do a consolidation and consolidate hers and mine together? Would it beneficial to file separate returns and keep her in deferment/forebarance because of the unemployment and/or lack of income? My income is not substantial and as it is we struggle to sustain our family but I’d be willing to pay all of the loans if the total payment were affordable.
Auto Pay discount: If you make monthly principal and interest payments by an automatic, monthly deduction from a savings or checking account, your rate will be reduced by one quarter of one percent (0.25%) for so long as you continue to make automatic, electronic monthly payments. This benefit is suspended during periods of deferment and forbearance.
Here I am 24 years later, have been paying on my loan(s) for 10 years, every month, and I still owe $65,000. I DO NOT want something for nothing but I want to pay what I owe. I have tried negotiating a lower APR, currently paying 21%, but Nelnet says that isn’t possible, basically they refuse. I have also asked to negotiate a lower amount owed, again was told no.
I have significant amount of loans. I applied for a repayment plan and was told I did not qualify for Paye because I had loans before 2007 so I was out on REPaye. My partner and I are now thinking of getting married (so I can get his medical insurance benefits) but I just read that under REPaye they always look at your joint income even if you’re married filing separate. Can I change my payment plan to IBR so only my AGI would be taken into consideration? I’ve only made 6 qualifying thus far. Also, would IBR increase or decrease my current payment? I’m hoping the repayment plans are not permanent. We are also speaking to our tax person to see what specific pros/cons us potentially getting married will have on our financial situation. I know they are several cons so we are weighing out our options of getting married now or until I’m down with PSLF. -Thank you

Hello Robert, so i have set up a income based repayment plan. The lowest payment for me to make is 600 a month and with my other debts and private student loans i can not afford this amount. I want to make payments but this is just way to much. They said this is based on income and that it is my only option. How can i pay a lesser amount with out being penalized? I am a school counselor.
I’m a little confused. According to Navient, I qualify for an Income-Based Repayment Plan, Income-Sensitive Repayment Plan, or Graduated Repayment Plan (either 2, 3, 4, or maybe 5 years) for my Federal Loans only. I don’t quite understand how the loan forgiveness that you’ve mentioned works for the Income-Based Repayment plan and Income-Sensitive Repayment Plan. For example: If I do the IBR, my monthly payments will be $0. Of course, they can potentially increase since I have to give my AGI each year. Are you saying that my loan is automatically forgiven after 10 years or after my repayment term? Isn’t it better to be paying something on the principal rather than nothing?
Their seems to be no provision made to forgive student loans at the time of 9/11 and the years following when so many middle class families who were and still are, bearing the brunt of supporting the economy and cities by continuing to pay taxes even when the lower income are not required to. Most middle class families took student loans and lost everything after 9/11.
Auto Pay discount: If you make monthly principal and interest payments by an automatic, monthly deduction from a savings or checking account, your rate will be reduced by one quarter of one percent (0.25%) for so long as you continue to make automatic, electronic monthly payments. This benefit is suspended during periods of deferment and forbearance.
Hi, Thank you for compiling all of this valuable info into one place. Your website has answered a lot of my questions. I am 90 days past due & was advised to apply for an IBR by my borrower. My question is I should be approved for an $0 payment due to being unemployed. Should I file taxes at all, with my husband as a dependent or how can we handle the tax aspect so we can keep our heads above water?
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. Borrowers who refinance federal student loans should be aware of the repayment options that they are giving up. For example, Earnest does not offer income-based repayment plans or Public Service Loan Forgiveness. It’s possible to consolidate federal student loans (Federal Perkins, Direct subsidized, Direct unsubsidized, and Direct PLUS loans) with a Direct Consolidation Loan from the Department of Education, but this will not allow you to lower your interest rate and private student loans are not eligible.
Many lenders offer student loan refinancing, from traditional banks, to credit unions to online lenders. Before choosing one, shop around and compare your offers. Several lenders make it easy to get an instant rate quote online with no impact on your credit score. By checking your rates with a variety of providers, you can find a refinanced student loan with the best possible terms.

Many lenders offer student loan refinancing, from traditional banks, to credit unions to online lenders. Before choosing one, shop around and compare your offers. Several lenders make it easy to get an instant rate quote online with no impact on your credit score. By checking your rates with a variety of providers, you can find a refinanced student loan with the best possible terms.
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. Borrowers who refinance federal student loans should be aware of the repayment options that they are giving up. For example, Earnest does not offer income-based repayment plans or Public Service Loan Forgiveness. It’s possible to consolidate federal student loans (Federal Perkins, Direct subsidized, Direct unsubsidized, and Direct PLUS loans) with a Direct Consolidation Loan from the Department of Education, but this will not allow you to lower your interest rate and private student loans are not eligible.

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…
Given your debt load and income, my guess is you’re a lawyer or doctor. Remember, the goal of such a high degree of education is to boost your income. Do you think you’ll be at $100k forever, or do you expect that to climb? I would expect it to climb, which also means your payments will rise under IBR, and you could also make extra payments to lower your debt.
I would just like to acknowledge your continued support and communication to the people who come to this site in search of answers – sometimes desperate, usually in despair, or incredibly stressed how to unearth the mountain of debt they’re under (including myself). I see this long thread of messages and I am astounded by your commitment to help nearly everyone that shares their story. So, short story long, THANK YOU for your work in bringing people direction, comfort, and help when they have no where else to turn. Even if you don’t receive much thanks, you are very much appreciated.
Whether the terms of your student loans aren’t working for you or you want to look into securing a lower interest rate, refinancing could be just what you need. It doesn’t take much time to check out top student loan lenders for your refinancing options. If you decide you want to apply, you could start saving money on your loans in less than a month.
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 attended ITT Tech-Bessemer AL in fall of 2005. When my dad passed away I moved home to be close to my mother (I’m an only child) who’s disabled and I have been helping her pay her monthly expenses. Anyway long story short, I only attended 1 semester of college there and couldn’t afford the payments because I was a single unemployed parent and only made $8 an hour and raising 2 kids. At that time it was a SallieMae College Advantage Loan. Initially they literally refused to work with me on lowering my payments for a long time & they defaulted. Once they did, the company they sold my loan to an Recovery company who contacted me and I set up a payment plan with them monthly. Since 2010 I have been paying the money automatically, never missed a payment. However, it is still showing that I am delinquent/past due. The debt has gone from $8900 to almost $13,000 even with sending extra money from time to time. It shows the payments made monthly in my Navient account. But, doesn’t decrease my balance and doesn’t show where the payment actually comes from and is still showing as a charge off on my credit report. Is there anything that I can do at this point? Thank you in advance for any advice you could provide.
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.
Hi Robert, this is very helpful information you are posting here. My question is this. I am married with a single income (my income, spouse does not work). Both her and I have student loans. I have two that are in good standing – One federal loan that is currently on REPAYE, and another small private ALPLN type loan. My wife, has two loans of her own both federal which are sizeable. We’ve had those in and out of deferement/forebareance on and off for 3-4 years now based on her unemployment and time is up. We file married/joint. I’d like to get everything under control and get her loans on IBR with mine – my questions are do I have an option to do a consolidation and consolidate hers and mine together? Would it beneficial to file separate returns and keep her in deferment/forebarance because of the unemployment and/or lack of income? My income is not substantial and as it is we struggle to sustain our family but I’d be willing to pay all of the loans if the total payment were affordable.
Yes I’m in the process of filing an application for loan forgiveness for a parent plus loan I’ve got all the info and the original denial letter from sallie Mae that said I wasn’t able to get this loan then was given one how in the hell does this happen. My son attended that ITT Tech school back in 2010. Do you think I will get some forgiveness for the institute falsely misrepresented my credit history?

In short, refinancing student loans generally does not hurt your credit. When getting your initial rate estimate, all that’s required is a ’soft credit inquiry,’ which doesn’t affect your credit score at all. Once you determine which lender has the best offer (Earnest, we hope), you’ll complete a full application. This application does require a ‘hard credit inquiry,’ which can have a minor credit impact (typically a few points). However, in the months and years after refinancing, your credit score should see steady improvement as you make on-time payments and pay down your debt.

We may agree under certain circumstances to allow a borrower to make $100/month payments for a period of time immediately after loan disbursement if the borrower is employed full-time as an intern, resident, or similar postgraduate trainee at the time of loan disbursement. These payments may not be enough to cover all of the interest that accrues on the loan. Unpaid accrued interest will be added to your loan and monthly payments of principal and interest will begin when the post-graduate training program ends.

SoFi: Fixed rates from 3.46% APR to 5.98% APR (with AutoPay). Variable rates from 2.05% APR to 5.98% APR (with AutoPay). Interest rates on variable rate loans are capped at either 8.95% or 9.95% depending on term of loan. See APR examples and terms. Lowest variable rate of 2.05% APR assumes current 1 month LIBOR rate of 2.05% minus 0.15% margin minus 0.25% ACH discount. Not all borrowers receive the lowest rate. If approved for a loan, the fixed or variable interest rate offered will depend on your creditworthiness, and the term of the loan and other factors, and will be within the ranges of rates listed above. For the SoFi variable rate loan, the 1-month LIBOR index will adjust monthly and the loan payment will be re-amortized and may change monthly. APRs for variable rate loans may increase after origination if the LIBOR index increases. See eligibility details. The SoFi 0.25% AutoPay interest rate reduction requires you to agree to make monthly principal and interest payments by an automatic monthly deduction from a savings or checking account. The benefit will discontinue and be lost for periods in which you do not pay by automatic deduction from a savings or checking account. *To check the rates and terms you qualify for, SoFi conducts a soft credit inquiry. Unlike hard credit inquiries, soft credit inquiries (or soft credit pulls) do not impact your credit score. Soft credit inquiries allow SoFi to show you what rates and terms SoFi can offer you up front. After seeing your rates, if you choose a product and continue your application, we will request your full credit report from one or more consumer reporting agencies, which is considered a hard credit inquiry. Hard credit inquiries (or hard credit pulls) are required for SoFi to be able to issue you a loan. In addition to requiring your explicit permission, these credit pulls may impact your credit score. Terms and Conditions Apply. SOFI RESERVES THE RIGHT TO MODIFY OR DISCONTINUE PRODUCTS AND BENEFITS AT ANY TIME WITHOUT NOTICE.
Citizens Bank Education Refinance Loan and Education Refinance Loan for Parents Eligibility: For the Citizens Bank Education Refinance Loan and Education Refinance Loan for Parents, primary borrowers must be a U.S. citizen, permanent resident or resident alien with a valid U.S. Social Security Number residing in the United States. Resident aliens must apply with a co-signer who is a U.S. citizen or permanent resident. The co-signer (if applicable) must be a U.S. citizen or permanent resident with a valid U.S. Social Security Number residing in the United States. For applicants who have not reached the age of majority in their state of residence, a co-signer will be required and may not be eligible for co-signer release. For the Citizens Bank Education Refinance Loan, applicants may not be currently enrolled in school and applicants with an Associate’s degree, or with no degree, must have made at least 12 qualifying payments after leaving school. Qualifying payments are the most recent on time and consecutive payments of principal and interest on the loans being refinanced.  Citizens Bank observes the right to modify or discontinue these benefits at any time. Both Education Refinance Loans and Education Refinance Loan for Parents are subject to credit qualification, completion of a loan application/consumer credit agreement, verification of application information, certification of borrower’s student loan amount(s) and highest degree earned or affordability, as applicable. The minimum student loan refinance amount is $10,000. 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. For more information about federal student loan benefits and federal loan consolidation, visit http://studentaid.ed.gov/. Resources are available to help the borrower make a decision, including a comparison of federal and private student loan benefits, at https://studentaid.ed.gov/sa/types/loans/federal-vs-private.
I’ve been making about $200 payments on my combined 2 private loans and $0 payments on my Direct/Stafford loans under the Income Driven Repayment plan for about 5 years now. Every year I have to send my information to renew the plan before I’m charged $500+ a month. So I’m a bit confused about how after the payment plan ends the loan will be forgiven. Am I missing some fine print somewhere?

Terms and Conditions Apply. SOFI RESERVES THE RIGHT TO MODIFY OR DISCONTINUE PRODUCTS AND BENEFITS AT ANY TIME WITHOUT NOTICE. To qualify, a borrower must be a U.S. citizen or permanent resident in an eligible state and meet SoFi's underwriting requirements. Not all borrowers receive the lowest rate. To qualify for the lowest rate, you must have a responsible financial history and meet other conditions. If approved, your actual rate will be within the range of rates listed above and will depend on a variety of factors, including term of loan, a responsible financial history, years of experience, income and other factors. Rates and Terms are subject to change at anytime without notice and are subject to state restrictions. SoFi refinance loans are private loans and do not have the same repayment options that the federal loan program offers such as Income Based Repayment or Income Contingent Repayment or PAYE. Licensed by the Department of Business Oversight under the California Financing Law License No. 6054612. SoFi loans are originated by SoFi Lending Corp., NMLS # 1121636. (www.nmlsconsumeraccess.org)
I went to a community college in SE Missouri. A financial/education advisor was assigned to me like every other student. After receiving next to no true help from my assigned advisor, at my adamit request I was denied using any other then the one assigned. I must admit She did help with my decision to become a history teacher with great enthusiasm. Although she was a great help with setting my goal she gave me no instruction to accomplish my goal outside of what Prerequisite classes where required and what financial options where available. Nothing about what was required of me nor how to properly handle the responsibility that came along with the financial assistance I required. But the worst part was she couldn’t comprehend the details for the post 9/11 GI Bill causing her to provide inaccurate information as well as refused to take in the fact that I was unable to go full time and seemed to be quite annoyed that I wouldn’t cut out my income to follow the rules ”I” discovered the GI Bill required for assistance. Having been out of school for as long as I had and being ignorant to the financial assistance programs I made decisions on what little information I was able to muster, needless to say I became quite overwhelmed and was incapable of performing the tasks required. I then gave into her insistent advice and went full time to take advantage of free government assistance. This, was not a good decision on my part so I dropped a class (with correct/incorrect info I was able to drop one class without penalty) so I chose to drop biology having been the class I was struggling the most with this put me over a half a credit causing me to loose my GI Bill as well as Pell Grant. I also took out a federal loan to subsidize my lost income due to going full time. I didn’t go back the next semester because of my lost assistance and fear of putting myself into more debt. That being said, time has gone by and I’m more informed and less intimidated but can’t seem to come up with a plan to accomplish my goal/dream to teach. I can’t afford to pay out of pocket for a full time semester to get my assistance’s back. How can I go about loan deferral to gain approval for one more loan?
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