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1
Student Loan Scams / Re: Is Maximus Capital Service...
Last post by boilermaker12 - May 19, 2022, 04:08:28 pmI spoke with the DOE and I can confirm they are fraudulent!
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Student Loan Scams / Is Maximus Capital Services / ...
Last post by boilermaker12 - May 18, 2022, 12:56:31 pmBack in Dec. of 2021 I received a number of calls saying my debt could be consolidated. I called the number back and it was a company called Maximus Capital Services. We went through all the steps and they said it would be a processing/admin fee of about 1.2 or .5k. They said this would be broken up over several months before the consolidation payments came out. So for several months, I have not been paying my loan back but just the fee. I've been trying to look them up and for some reason, I can longer find the site. When I contacted my bank, they said I would have to reach out to Maximus Capital Services to have them stop taking money out of my account. The last time I spoke with them, the guy said they would sue me over this! I need help!!!! It's really scary trying to figure this out and I don't want my life ruined over this. Can someone help me? Here is the old website:www.maximuscapital.org Here is the new website:https://maximummgt.org/
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Student Loan Forgiveness / Re: TPD : Total and Permanent ...
Last post by TheCollegeInvestor - May 13, 2022, 08:54:46 amParent PLUS Loans only have one parent borrower. So if he's the borrower, the loans will be discharged.
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Student Loan Forgiveness / TPD : Total and Permanent Disc...
Last post by Susan Facciola - May 13, 2022, 08:23:33 amHello,
My husband was recently permanently disabled (metastatic cancer). He received a letter from Nelnet that they received documentation from SSA showing he is eligible for a discharge of two Direct Plus loans, and the conditions of the monitoring period.
While these loans listed him as the primary, I believe I am listed on app as "Parent 2". I was employed at the time of this letter, and am concerned that they have made an error. As of May 2, I became unemployed.
Can you offer any insight?
Thanks! Susan
My husband was recently permanently disabled (metastatic cancer). He received a letter from Nelnet that they received documentation from SSA showing he is eligible for a discharge of two Direct Plus loans, and the conditions of the monitoring period.
While these loans listed him as the primary, I believe I am listed on app as "Parent 2". I was employed at the time of this letter, and am concerned that they have made an error. As of May 2, I became unemployed.
Can you offer any insight?
Thanks! Susan
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Ask a Question / Re: Student loan interest with...
Last post by TheCollegeInvestor - May 05, 2022, 09:02:29 amBased on your story and loan age, you either have a private loan (because you said you refinanced), or you actually meant you consolidated, and you still have old FFEL loans. These loans did not qualify for the CARES Act forbearance. Only Direct student loans qualified, which originated after 2007.
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Ask a Question / Student loan interest with Car...
Last post by Ehtico - May 04, 2022, 12:02:05 pmGood afternoon!
My story with student loans started on August 1996;I graduated from FIU with a BSCV at the age of 40. My debt was 39K at the time, I refinaced the debt on 2003 because I was choking. I have had multiple forbearances through out the years; I am currently 66 years old and owe 70k and I am on Social Security, needless to say I never got my Engineering license and just bought myself a job with alot of debt by going back to school. I am going to try to pass the two state tests to get the PE license so I can go back to work to try to make my economics work. My question today is regarding the Cares Act and how Navient is charching me 11.5K in interest from 3/20 to 3/21? I was under the impression that we did not have to accrued the interes in that period. If anyone can shed some light on how or why Navient still can charge some interest please let me know your thoughts. Thank you!!
My story with student loans started on August 1996;I graduated from FIU with a BSCV at the age of 40. My debt was 39K at the time, I refinaced the debt on 2003 because I was choking. I have had multiple forbearances through out the years; I am currently 66 years old and owe 70k and I am on Social Security, needless to say I never got my Engineering license and just bought myself a job with alot of debt by going back to school. I am going to try to pass the two state tests to get the PE license so I can go back to work to try to make my economics work. My question today is regarding the Cares Act and how Navient is charching me 11.5K in interest from 3/20 to 3/21? I was under the impression that we did not have to accrued the interes in that period. If anyone can shed some light on how or why Navient still can charge some interest please let me know your thoughts. Thank you!!
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Student Loan Forgiveness / Re: PLSF with Student and Pare...
Last post by aeroliteflyer - April 26, 2022, 07:10:05 amThank you for your info.
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Student Loan Forgiveness / Re: PLSF with Student and Pare...
Last post by TheCollegeInvestor - April 21, 2022, 08:42:18 am1. No, she cannot consolidate your Parent PLUS Loan into a consolidation loan in her name. There's a lot confusion surrounding consolidation and refinancing.
Consolidation = free government program, where you combine multiple federal loans in your name to a single loan in your name.
Refinancing = taking out a private loan. This loses all benefits, including PSLF. However, you can consolidate your loan into her name.
2. You would elect a repayment plan about a month before repayment begins. Note, payment pause may also be extended further, so no reason to jump the gun here.
3. You must be on an income-driven repayment plan, such as IBR, to qualify for PSLF. Simply not having qualifying employment doesn't change anything - she just won't get PSLF credits until she starts eligible employment.
Consolidation = free government program, where you combine multiple federal loans in your name to a single loan in your name.
Refinancing = taking out a private loan. This loses all benefits, including PSLF. However, you can consolidate your loan into her name.
2. You would elect a repayment plan about a month before repayment begins. Note, payment pause may also be extended further, so no reason to jump the gun here.
3. You must be on an income-driven repayment plan, such as IBR, to qualify for PSLF. Simply not having qualifying employment doesn't change anything - she just won't get PSLF credits until she starts eligible employment.
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Student Loan Forgiveness / PLSF with Student and Parent P...
Last post by aeroliteflyer - April 20, 2022, 01:54:06 pmHello,
My current situation is this.
Daughter, is about to graduate in May with degree. And soon after should be going to work for State of South Carolina working in the probation office. My understanding is that since this is state government in public service, her student loan should qualify for PSLF. So she has a small student loan, federal. We as parents have a much larger, parent plus loan; which I know does not qualify for PSLF. My questions are below:
1. I was considering having her refinance all loans under her name in a federal direct to: qualify for IBR, and qualify the entire amount for PSLF. Is this possible, even if we need to co-sign the federal direct consolidation?
2. She isn't set to start paying until Dec 2022. But we haven't elected any repayment option for her yet. Should this happen before graduation or before repayment begins...or after consolidation if that is possible?
3. She doesn't actually start with the state until a month or so after graduation. Current part time job wouldn't qualify for PSLF. In the current situation, especially trying to do IBR, how does this affect PSLF?
Thank You,
Chris
My current situation is this.
Daughter, is about to graduate in May with degree. And soon after should be going to work for State of South Carolina working in the probation office. My understanding is that since this is state government in public service, her student loan should qualify for PSLF. So she has a small student loan, federal. We as parents have a much larger, parent plus loan; which I know does not qualify for PSLF. My questions are below:
1. I was considering having her refinance all loans under her name in a federal direct to: qualify for IBR, and qualify the entire amount for PSLF. Is this possible, even if we need to co-sign the federal direct consolidation?
2. She isn't set to start paying until Dec 2022. But we haven't elected any repayment option for her yet. Should this happen before graduation or before repayment begins...or after consolidation if that is possible?
3. She doesn't actually start with the state until a month or so after graduation. Current part time job wouldn't qualify for PSLF. In the current situation, especially trying to do IBR, how does this affect PSLF?
Thank You,
Chris
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General Discussion / Re: Who Pays For Debt Foregive...
Last post by TheCollegeInvestor - April 20, 2022, 09:38:58 amAre the current debt forgiveness programs restricted to debt held by the US government or does it apply to private lenders as well?
Only debt held by the U.S. Government. There are no loan forgiveness programs for private loans (but there may be student loan repayment assistance programs offered by states or companies that could be applied towards private loans).
If it applies to private lenders, how can they be forced to forgive and is the government writing them a check to cover? They cannot.
If the government forgives, where is that money coming from or is it just adding to our Federal debt?
It would be adding to our Federal debt. It's simply shifting the liabilty from individual Americans to the Federal govenment.
Only debt held by the U.S. Government. There are no loan forgiveness programs for private loans (but there may be student loan repayment assistance programs offered by states or companies that could be applied towards private loans).
If it applies to private lenders, how can they be forced to forgive and is the government writing them a check to cover? They cannot.
If the government forgives, where is that money coming from or is it just adding to our Federal debt?
It would be adding to our Federal debt. It's simply shifting the liabilty from individual Americans to the Federal govenment.