College from 1996-2001
Married in 1998
Daughter born 2003
Grad school 2005-2008
Licensure 2009 - current - licensed professional counselor in NC
Divorced 2010 - full time custody of daughter
Loans were in deferrment, forbearance, default, rehab... thruout the years
Current deferment ends in April.
Have worked in past for non-profits as a counselor and later licensed professional counselor 2001-2013 but could not afford loans with limited income.
Need help developing a plan for paying off student loan debt $157,000
Work for Aetna insurance full-time as an EAP clinical counselor - taking crisis calls - (still Licensed Professional Counselor). Also am on the Critical Incident Team at Aetna - companies contract with Resources for Living (EAP) and request a counselor to come to their company to work with associates after a tragedy.
1) could I qualify for loan forgiveness (PSLF or other) based on my current employment or work history? (Paying 10 years based on income)
My daughter begins high school in August. I will need school loans for her college as well. Her dad and I plan to split her college costs and grad school unless she marries.
2) if I do not qualify for the 10 year re-payment with student loan forgiveness .... Loans are consolidated as of 2010 .... Would that be eligible for 20 year repayment plan at 10% income thru Obama?
3) would it be an option to volunteer on side or work a second full-time job to qualify for the PSFL?
4) should I take a deferrment when daughter is in college? If there's no forgiveness is it best to just consolidate my loans and hers eventually? And have deferrments or forbearances in between times of payment until retirement or death? I'm 39.
Debt is $157,000 in school loans for myself. My house that I have a mortgage on is less than that at $129,000. Purchased 2 years ago. I do have some money is money market accounts for emergency. I'm trying to re-build my credit score. Income will be very tight with a $400 student loan payment. I will have to work extra time to make payments. Any guidance is appreciated. My objective this whole time has been on taking care of my daughter and give her my best until she is an adult managing her own way. I did have surgery in Dec and am now also making payments on medical bills. But, I need to get organized and figure out the best way to manage this mountain of school loan debt for myself and my half of my daughters debt.