• Welcome to The Student Loan Debt Forum | The College Investor. Please login or sign up.

Show posts

This section allows you to view all posts made by this member. Note that you can only see posts made in areas you currently have access to.

Messages - ldygoug

Student Loan Forgiveness / Pay Down Loans?
March 23, 2019, 06:15:30 am
Hi there.  I have 8 loans totally over $200,000.  I just made my first loan payment via Nelnet.  I am signed up with IBR PAYE in order that I can afford the monthly payments, as they would have been almost 4 times what I am paying.  Because I am brand new to this, I am unsure of something that someone at Nelnet said to me, so here is my question: Should I even bother attempting to pay down a couple of the loans that have higher interest rates in light of the fact that I am on the IBR PAYE and am optimist that at the end of 20 years I will have the balance forgiven (and hopefully it will be tax-free) - ?  I am also afraid of how I will handle actually watching my balances go UP instead of down over the next 20 years, as the payments right now don't even cover all of the interest accruing...   :-\