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.
The Income Based Repayment Plan (IBR) is one of the most common repayment plans borrowers switch to if they are having financial hardship.  If you have loans from before July 1, 2014, you payment will not be higher than 15% of your discretionary income.  On this plan, you will make payments for 25 years, and at that point, your loans will be forgiven.

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.
I am an officer in the army reserves I was active duty for two years with a deployment I have a contract for 8 years in the reserves but I still have about 60k in loans from school while in rotc but I am currently not full time is their anyway to get my loans forgiven or is my only option is to keep doing the income based repayment plan and in 20 years have them forgiven and would I have to stay in for 20

Ran across your site and then this posting while searching. My loans are currently in an IBR plan but I would love to not have the $14,000+ looming over my head. Unfortunately there does not seem to be any option other than to remain in the IBR and update/reapply every Fall until I die! I do see that you state that it is forgiven after 25 years of payments for a loan taken before July 2014, however, I pay nothing since my income is zero. Prior to having no income I was working in the public service field working with low income children in early childhood education but not long enough to qualify for that type of forgiveness. I am currently a full time and unpaid caregiver for my disabled 5-year-old. We get no public assistance in regards to his care. Qualify based on income but we refuse to liquidate the savings account meant to be used to get us in to a home that will suit our son’s needs and safety better. So I guess my best bet is to keep things as they are with the IBR. Just wish I could be rid of it all-together!
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?
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.

I have $129,000 in debt from school loans. However, I had surgery and almost died during the time I was in school. I got behind on my dissertation and was kicked out of school. My forbearance time is coming up. I am scheduled under federal loans for the income driven repayment. Is there any recourse? My loans are consolidated and up to date right now.
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.
The information provided on this page is updated as of 10/11/2019. Earnest reserves the right to change, pause, or terminate product offerings at any time without notice. Earnest loans are originated by Earnest Operations LLC. California Finance Lender License 6054788. NMLS # 1204917. Earnest Operations LLC is located at 302 2nd Street, Suite 401N, San Francisco, CA 94107. Terms and Conditions apply. Visit https://www.earnest.com/terms-of-service, email us at [email protected], or call 888-601-2801 for more information on our student loan refinance product.
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.
This student loan forgiveness program cancels a percentage of a borrower’s Federal Perkins Loan if they work full-time in an eligible field. You will have a portion of your loans forgiven for each year of service. The specific cancellation terms depend on your line of work, but this program awards up to 100% forgiveness. For the majority of Perkins Loan cancellations, the cancellation terms are as follows:
Hi I was 2 months away from being out of default on my student loans when I decided to claim bankruptcy 5 years ago. (We had fraud on accounts we counldnt get past.) I kept the same payment thinking it would complete it and switch over. Well it didn’t. So they have kept my student loans in default the whole time for 5 years on my credit report although we made payments, it all went to interest and fees. The fees in 5 years, and I have made payments every month, are $17,000! So now I owe $72K. When I graduated in 2000 I owed $38K. I guess what I want to know is can a company charge these fees in a federal student loan legally, because that doesn’t seem right when payments were being made. Because even in 25 years and I can write it off it’s more of a tax liability for me.
Public Service Loan Forgiveness. Public Service Loan Forgiveness is available to government and qualifying nonprofit employees with federal student loans. Eligible borrowers can have their remaining loan balance forgiven tax-free after making 120 qualifying loan payments. In order to benefit from PSLF, you’ll need to make payments while enrolled in an income-driven repayment plan. Otherwise, on a standard repayment plan, the loan would be paid off before you’re eligible to benefit from forgiveness.
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