News: Welcome to the Beta launch of the Student Loan Debt Forum on The College Investor.

  • February 26, 2017, 11:09:33 AM

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1
Ask a Question / Re: Defaulted twice. Need advice.
« Last post by TheCollegeInvestor on February 23, 2017, 07:39:28 PM »
You can do it yourself on StudentLoans.gov or by calling your loan servicer (not the collection agency).
2
Ask a Question / Defaulted twice. Need advice.
« Last post by James on February 23, 2017, 04:06:22 PM »
I hit hard times and defaulted a 2nd time. My Loan Servicer sent it to the U.S. Dept. of Education and they sent it to a collection agency. I contacted the collection agency and they told me to contact StudentAid.ed.gov to apply for a Direct Loan Consolidation. In looking into this I read I had to contact my loan servicer. I'm confused and lost as to how to get my student loan out of default. Please advise. Thank You.
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Student Loan Scams / Re: Is KPA Group legit ?
« Last post by TheCollegeInvestor on February 21, 2017, 01:28:43 PM »
It's impossible to decide for you, but read this article and it might help you make a better decision: http://thecollegeinvestor.com/16429/is-your-student-loan-repayment-company-a-scam/
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You will likely find this article helpful to explore if it's worthwhile. Also, you should consider speaking to a tax professional.

http://thecollegeinvestor.com/17807/the-math-behind-married-filing-separately-for-ibr-or-paye/
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I am attempting to navigate the repayment of my student loans. I attended both an undergraduate and graduate school. I graduated, learning too late about the dire career possibilities in my field and not looking at student loans as something I would have to pay back. Now, I am learning from my mistakes and carelessness about taking out loans. I owe almost 140k in student loans. Currently, I am in an unrelated field (real estate and I also do freelance work). I am entirely 1099.
My husband (married after I finished) makes substantially more than me and although married, I do not want to put my student loan debt onto him. We have previously filed jointly, as he makes a good amount of money, and my tax deductions from self employment benefit him. I would not qualify for income based repayment with his income this year. Can I still file for income based repayment if we file separately? He will lose all of my benefits but otherwise we are facing close to 1600 a month in student loan payments. If I file separately, can I still qualify for income based, even though my income is not guaranteed being self employed basically?
My loans have until now been in forebearance, but I am ready to tackle them, whatever that means.
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Student Loan Scams / Is KPA Group legit ?
« Last post by angelicaa03 on February 21, 2017, 11:28:09 AM »
I recently got a call from them they asked me for my info & they had access to my FAFSA. Since I'm unemployed I qualified for $0 payment plan. They say it will still help my credit. There is a program service fee of $549.00. It's spread out for 4 months. Should I trust this company or should I cancel it right away ?
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Student Loan Scams / Re: Certified Document Center Scam?!
« Last post by kcavitt87 on February 17, 2017, 04:46:04 PM »
I received this same phone call just now from Certified Document Center. And let me tell you, that "Patricia" was quite a smooth talker in telling me how they could help me with my student loans as a 3RD PARTY COMPANY working along with the DOE. Furthermore, she told me they could lower my monthly rates if I signed up through them for their IBR loan repayment option and could have my loan payments down to $85/mo. and a 5.95% interest rate. I was led to believe that amazing deal was exclusive to only their company through their partnership with the DOE and thats all I would have to pay until my loans were forgiven. Just had to pay a startup cost fee of around $900.



If you read this article, you'll notice everything she used as a sales point are in fact false.  http://thecollegeinvestor.com/317/top-student-loan-scams/

The major ones shown in the following 2 excerpts are the direct definition of what the salesperson told me:


​Enrollment in repayment programs is available at no cost to Federal student loan borrowers and can be done for free at StudentLoans.gov
Debt relief companies do not have the ability to negotiate with your Federal student loan creditors in order to get you a better deal.
Payment amounts, qualifiers, requirements under IBR, PAYE, and other repayment programs are set by Federal law

But that doesn’t automatically mean paying someone for help is a scam. While these programs are free, signing up can be confusing for some people. Or they may have complex situations and want someone to help them. Just like some people do their taxes themselves, while others hire a CPA, the same applies to student loan debt help.

You can do it yourself. Or you could pay someone to help you (if you want to see who we recommend, scroll to the bottom). However, if you pay someone to help you, you need to make sure you’re not going to be ripped off and the company is reputable.




Student Loan Relief Red Flags​:

​Now that you know some of the main types of student loan relief scams, what are some red flags to look for?

​Based on talking to consumers for several years, these themes have emerged:

Any company ​that claims to have a relationship with the Department of Education (third-party companies do not have any relationship with the Department of Education)
Any company that promises you a set payment or forgiveness (companies cannot promise forgiveness or guarantee an income based repayment because both will change based on your income)


In the end, you can do it all yourself for free. Just like the link says. Hope that helps
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General Discussion / Re: Paying Off Student Loan Debt
« Last post by TheCollegeInvestor on February 16, 2017, 03:00:16 PM »
You might find this article helpful in making a decision: http://thecollegeinvestor.com/16429/is-your-student-loan-repayment-company-a-scam/
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General Discussion / Paying Off Student Loan Debt
« Last post by marlamilton78 on February 16, 2017, 02:28:53 PM »
Should I be leary of The Student Loan Group.  They have told me that they will take my payments from about $700 a month to $162 a month.  Now that sounds good but I'm not sure if it's the right thing to do.  After 120 payments, my debt will be forgiven and this is because I work in the public service industry.
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Student Loan Scams / Re: Certified Document Center Scam?!
« Last post by TheCollegeInvestor on February 15, 2017, 11:07:01 PM »
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