I just have come across your website and this blog. A job well done, and thank you! I had to step down from my career in September of 2009 and file for disability. I was awarded full disability in August of 2011, and it was retroactive back to the time of initial filing – in September of 2009. I have been utilizing forbearance all this time, not knowing about “TPD Discharge” until this past week. My forbearance is up in six days, from today (according to Navient (formally Sallie Mae as I am sure you know), and I only have a little time left on forbearance – “student loan debt burden.” I have always paid any debt I owed and had full intentions of doing this as well. However, I had no clue my health and a surgery in 2011 to correct the “issue” would go awry overnight. I have read some on the “total and permanent disability discharge” and see that if they approve they would monitor you for five years to make sure you did not return to work. My goal is to return to work. I refuse to take “no” for an answer from a lot “people.” I just lost almost four years of returning to work after surgery due to the “mess up” with the surgery, and the fact that a neurosurgeon will not see a prior surgical patient until after a three-year-mark from the original surgery. I finally have consult appointments with to NS’s the first of December. Do you know if the TPD Discharge is retroactive (or if I can even apply if I am looking for it to be retroactive?” As well, I need to do something, quickly as my forbearance ends in six days, as I stated above. Would you suggest applying for a new forbearance right now and then embarking on the TPD Discharge? I feel horrible about this as I always pay my debt, but the interest and such is accruing, I do not make the money I used to make, no matter how much I made all these years working, your disability income is not substantial to survive on a “bare note” these days. I just need some help in understanding or if you have any thoughts about what to do. Thank you again for your help. I hope you enjoy your weekend!
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.
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…
I have been on the IBR Plan for a few years and due to such low income previously I have barely paid much off of my debt while my interest accrues. After reading your articles I checked studentloans.gov repayment calculator and double-checked with Navient- I am thinking of switching to the RePAYE plan as this would lower my monthly payments and take 10% of my discretionary income as opposed to the 15% that IBR takes.

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.
There is no application fee to consolidate your federal education loans into a Direct Consolidation Loan. You may be contacted by private companies that offer to help you apply for a Direct Consolidation Loan, for a fee. These companies have no affiliation with the U.S. Department of Education (ED) or ED’s consolidation loan servicers. There’s no need to pay anyone for assistance in getting a Direct Consolidation Loan. The application process is easy and free.
Note: Servicing for this program is managed by another federal student loan servicer. If you enroll in Public Service Loan Forgiveness, your eligible loans will be transferred from Great Lakes to that servicer. Also note, you may not receive a benefit for the same qualifying payments or period of service for Teacher Loan Forgiveness and Public Service Loan Forgiveness.
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.
The Teacher Loan Forgiveness program (TLF) is a form of student loan forgiveness that is separate from the Direct Loan or Obama Student Loan Forgiveness program. This program awards educators with a principal reduction of their federal loans. It was designed to encourage students to enter the education field and to incentivize teachers to continue teaching.

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.

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?

After loan disbursement, if a borrower documents a qualifying economic hardship, we may agree in our discretion to allow for full or partial forbearance of payments for one or more 3-month time periods (not to exceed 12 months in the aggregate during the term of your loan), provided that we receive acceptable documentation (including updating documentation) of the nature and expected duration of the borrower’s economic hardship.
Could you clarify the difference between the 10 year and 25 year loan forgiveness? I’m interested only in the 10 year as I may not be able to work for 25 years being in my mid forties. My loan amount is $40K, I expect to earn gross $65-70K per year, I am married but separated, and my husband’s income is very variable but on the low side (gross $45K/year) and he files business income as he works from home part time. Will the PSLF allow me to work for 10 years and forgive my loan and must I file married separately or jointly. I just graduated and am about to end my grace period so my monthly payment will be due soon. I will also be starting work in the next month.
Did you stop paying your loans? If they went into Delinquency or Default, then you won’t be able to get approved for another Federal loan until you fix that. I would recommend that you read through my Guide to Student Loan Delinquency and Default, then look at my page on Student Loan Rehabilitation. I think these will be your best options for getting back into repayment status so you can get approved for a new loan.
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.
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 have had a student loan since 1990 when I was 17years old. It started out as a $3500 and today (27 years later) I owe $4500 – how is this possible? I remember 2 years ago i was scheduled to receive $2600 back in federal taxes and they took it all….I have attended college 3 times and I know that had to have been in good standing as well as in deferment so how can i owe more now than I did when I got the loan? I am currently in a rehabilitation program paying $5 a month but the interest continues to grow I will never get out from underneath this gray cloud. Believe me if I had the money I would pay it. I owe peanuts compared to some. Why are they allowed to have the interest accrue on a school loan. Just seems wrong.
4This informational repayment example uses typical loan terms for a refi borrower with a Full Principal & Interest Repayment and a 10-year repayment term, has a $40,000 loan and a 5.5% Annual Percentage Rate (“APR”): 120 monthly payments of $434.11 while in the repayment period, for a total amount of payments of $52,092.61. Loans will never have a full principal and interest monthly payment of less than $50. Your actual rates and repayment terms may vary.
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 am not in default. My loans are subsidized and unsubsidized loans. I have a recent print out of my credit report and other than naming Nelnet as my holder and labeled as a subsidized/unsubsidized loan I don’t know what “kind” they are. From my recollection, and from what I can tell on my report, they are federal loans. My primary loans were for $21,000 and $23,000. My current balance is about $64,000 from my last online statement from Nelnet. I did notice that my interest is now at 3.5%. That was a happy surprise, however, I still owe that extra 50% of what I borrowed. Additionally, Nelnet recently decided on their own to put me on a forbearance. I never asked for that! I called and was told they could not stop the forbearance and I could simply continue to pay. I was stunned to say the least.
I have 2 student loans from Great Lakes higher education one for aprox $9,000 and one for Aprox $19,000 it looks as if they defaulted not my credit report in 2013 however the loans were taking out between 2002-2006 I believe. I am now unemployed I have been for 6 years. I have filed for social security disability. Does this change anything about repayment or if I’m approved for disability will that change anything for repayment? I really hope you have some info on this no one seems to know. Thank you.
I went to Everest College for Court Reporting in 2007-2008. I did not graduate, but chose to leave after I slowly realizing I was in real danger of being scammed by the school. How the entire program operated just didn’t seem right, and I didn’t feel that I had been told the truth about the success rate upon graduation, or that my education with them was up to par. However, I had already racked up several federal loans because we were called into student aid every 3-4 weeks in-between classes to renew our loans in order to continue to even the next class that day! After about 10 months I knew I had to leave, but these loan amounts due from that time have persisted. The school was closed in 2015 or 2016 I believe, after I was long gone. Do I qualify for loan dismissal/forgiveness?

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.
After loan disbursement, if a borrower documents a qualifying economic hardship, we may agree in our discretion to allow for full or partial forbearance of payments for one or more 3-month time periods (not to exceed 12 months in the aggregate during the term of your loan), provided that we receive acceptable documentation (including updating documentation) of the nature and expected duration of the borrower’s economic hardship.
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.
Fixed rate options consist of a range from 3.75% per year to 5.80% per year for a 5-year term, 4.25% per year to 6.25% per year for a 7-year term, 4.55% per year to 6.65% per year for a 10-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). The monthly payment for a sample $10,000 loan at a range of 3.75% per year to 5.80% per year for a 5-year term would be from $183.04 to $192.40. The monthly payment for a sample $10,000 loan at a range of 4.25% per year to 6.25% per year for a 7-year term would be from $137.84 to $147.29. The monthly payment for a sample $10,000 loan at a range of 4.55% per year to 6.65% per year for a 10-year term would be from $103.88 to $114.31. The monthly payment for a sample $10,000 loan at a range of 4.85% per year to 7.05% per year for a 15-year term would be from $78.30 to $90.16. The monthly payment for a sample $10,000 loan at a range of 5.30% per year to 7.27% per year for a 20-year term would be from $67.66 to $79.16.
Also, I am currently back in school and now have federal loans that are deferred while I’m enrolled, but I want to understand what the best thing to do is once I graduate and have to start paying those back as well. I have felt a little lost in this process and don’t know where to turn/who to ask for advice, especially with the private loans and the balance that won’t go down. I appreciate any advice.
I had to file to drop my classes because I was in bed rest for four months. I was told that since it was a medical emergency that I wouldn’t be expected to pay back any student aid that I received and I could continue once I was off bed rest. When I tried to go back I was told that I had to pay off my loan first. So I did. Then I was told that another loan had been taken out in my name. The address that they claimed the check was delivered to has never been my address, nor have I ever lived there. It was the address of an estranged sibling that I have had no contact with. I explained this, but I was told that I still have to pay the loan or my transcripts would be held hostage so that I could never go back to college anywhere. The advisor that they appointed me when I first enrolled had been fired, so I found a new one who worked for the state. He tried to help me sort things out. On one conference call they told him that a loan had been sent to the fore mentioned address, on another they claimed that I had outstanding fines from aid money that I needed to repay. We called the office that handles all student aid info and they said that I do not owe them money and if I did then it would be between me and the state, not the school. So we called them again and again they claimed that I had taken out a second loan. The new advisor said he’d never seen anything like it and he said that I still qualify for a full scholarship if I can get my transcripts released. I don’t have the money to pay the loan back twice. It took me years to pay it back the first time. Any ideas? I’ve tried just about everything, including reporting it on the FBI’s identity theft site.
My advice for you is to first sign up for one of the Income-Based Student Loan Repayment Plans so that your monthly payments are dropped to an affordable amount, then get on the Public Service Loan Forgiveness Program (I think your status as a Reservist on permanent active duty will qualify, but you’ll have to double check on that), which will allow you to get your loans discharged after making payments for a set number of years, no matter how much debt remains.

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.

I have loans with Navient. I had thought these were federal student loans….but I saw that someone mentioned that they had loans with Sallie Mae (No Navient), and you told them they were private loans and that there is no forgiveness for private loans. ?? Why do my loans at Navient say “Federal Student Loans”?? These are consolidated loans. Are they indeed private? Sorry, this is all so confusing.
Student loan Refinance: 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.
Fixed rate options consist of a range from 3.75% per year to 5.80% per year for a 5-year term, 4.25% per year to 6.25% per year for a 7-year term, 4.55% per year to 6.65% per year for a 10-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). The monthly payment for a sample $10,000 loan at a range of 3.75% per year to 5.80% per year for a 5-year term would be from $183.04 to $192.40. The monthly payment for a sample $10,000 loan at a range of 4.25% per year to 6.25% per year for a 7-year term would be from $137.84 to $147.29. The monthly payment for a sample $10,000 loan at a range of 4.55% per year to 6.65% per year for a 10-year term would be from $103.88 to $114.31. The monthly payment for a sample $10,000 loan at a range of 4.85% per year to 7.05% per year for a 15-year term would be from $78.30 to $90.16. The monthly payment for a sample $10,000 loan at a range of 5.30% per year to 7.27% per year for a 20-year term would be from $67.66 to $79.16.
The Public Service Loan Forgiveness Program – Nurses have always been able to take advantage of the PSLF program, and for good reason! It was created specifically to help encourage people to take up work in public service positions, and no job defines public service better than that of a Nurse. Any Nurse who holds a full-time, qualifying position will be able to have the entirety of their student loan balance forgiven after they’ve made 10 years worth (120) of monthly payments on their debt, no matter how much is left when that 120th payment is made!
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