If you have several student loans with different interest rates, you can consolidate everything into a single new loan with one interest rate. Juggling multiple loan payments can be difficult to keep up with, especially when you have multiple lenders. Not to mention, some student loan servicers buy and sell loans, so you could wind up paying different lenders than the original servicer that you used.

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
What about consolidating? I was paying for years on my loan, decided to consolidate for a lower monthly payment and then was told about the public loan forgiveness plan. Long story short, I had to start the payment process all over! They say there is nothing I can do about that now… do you know if there is a way to get those previous payments counted? I mean it all goes to the same place in The end… department of Ed! So annoyed!
Im so happy I found your site. I need help. I owe $270,000 in student loans from medical school. $60,000 of it is from private loans. Both my subsidized and unsubsidized federal loans have been in repayment for 10 years. My balance has actually gone up approx. $25,000. Due to interest and two short term forebearances. I discovered IBR plan last year and qualified, but this year i will not qualify. Im stuck and feel like I will be paying this well beyond retirement years. Im 40 yrs old.
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?

I just wanted to comment on how dedicated you are to helping people Robert. You have provided prompt clear responses, with impressive information to every single person who commented on your article. I will share this with friends. I was fortunate to be in healthcare/non-profit & have a Perkins loan that was forgiven after 5 years. Thank you for your dedication to your field & being such an amazing person to give your time to answer all these questions. Kudos to you!
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?
My wife has two Navient loans. She was making regular payments but her principal kept growing. They would be months when none of her money was applied to principal even though she paid every thirty days. Then she would get a whopping accrued interest bill. We went to several agencies including CFPF protesting. They would ask Navient for a reply and accept anything Navient said and close the case.

Obama student loan forgiveness. There’s no such thing as “Obama student loan forgiveness.” However, some student “debt relief” companies use it as a catch-all term for free federal programs — which they charge to enroll borrowers in. If you encounter a company offering “Obama student loan forgiveness,” consider it a red flag. Enrolling in federal programs like income-based repayment and federal student loan consolidation is free to do on your own through the Department of Education.

×