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Messages - lasoyoga


First I would like to say that I am huge fan of this site and the wealth of information given. THANK YOU!

I have read many posts on this site and I remember reading over one that stood out in my mind. Someone asked what was the best way to get out of debt and you suggested them to make payments no matter how small. That your student loans shouldn't just sit there and accumulate interest.

Well, I am on a IBR program with Fed loan Serving and every year they have you re-qualify for the program. This year I am making $1,600 a month and they said according to my family size and income, I do not make enough to have a scheduled payment so I have a zero payment for the next 12 months.

I called them and asked if they can consider scheduling me a small payment of any amount each month. I did this because Fed Loans is offering a .25% interest rate on loans that have a monthly direct debt set up on their accounts.  Here's the dilemma, In order to have direct debt on your account, You need to have a scheduled monthly payment and since I don't.. I am not eligible.

This is so frustrating and literally makes depressed every time I think of my student loans.

They said if my income changes, I can resend my paystubs to them to revaluate my payment amount. I've talked to a few people about this situation and I've been given many different opinions about this.
Option 1: Keep the zero payment and save the money for years to come. Since this is my 3rd year with Fed Loans, Next year I will only have 22 years left until my loan amount is forgiven. (Yay! not)
Option 2: Resend my monthly paystubs with a higher amount then before because my income fluctuates and I can show I make more money. Then I might be able to get a monthly payment and then qualify for a .25% interest rate...

Soooo my question to you is... What should I do? I am so lost and confused and would like a little direction from someone that knows this space the best.

Thank you for any feedback.


I am finding myself in a overwhelming amounts of debt and I'm feeling like I will never get rid of it.
I have Navient and Fed Loan Servicing but i have a few questions about these companies...

1. Is Fed Loan Servicing really thee federal loan company they refer students to use?
2. Do I have continue to use Fed Loan Serving once I'm in?
2. How is that Navient offers a 3% interest rate and Fed Loan Serving won't offer anything lower than 6%?

I applied to refinance all my loans with Credible. I have input all the information asked of me and it says I will get a quote in 90 seconds but I haven't. Also, I'm a little worried about them running my credit so many times for different companies. Any breakdown on how this works?

Thank you!