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Student Loan Forgiveness / Re: PSLF and state taxes
Last post by TheCollegeInvestor - January 28, 2021, 07:40:12 am
It appears that Pennslyvania does NOT conform with Federal law and does consider PSLF (and other student loan forgiveness) taxable income. I would check with an accountant in your state to confirm.
Student Loan Forgiveness / PSLF and state taxes
Last post by nik_pa - January 27, 2021, 11:44:50 am
Are amounts forgiven under the PSLF program taxable at the state (Pennsylvania) level? I know they are not taxable for federal income tax purposes but have not been able to find an answer to the state question. I have tried contacting the Pa. Dept. of Revenue but phone lines are impossible and they have not replied to the customer service question I submitted almost 2 months ago.

Any help would be appreciated.
Ask a Question / Re: At a loss of what to do
Last post by TheCollegeInvestor - January 24, 2021, 10:18:41 am
If these are federal student loans (which it sounds like), there is no statute of limitations and they are always collectible. So you need to track them down.

Check out this article and see how to find who owns your student loans.
Ask a Question / At a loss of what to do
Last post by Paulsp2012 - January 24, 2021, 09:34:09 am
Hello everyone I have several student loans originating from 2007-2009 that were originally through Sallie mae and navigant I believe. Through my own poor choices I never made any real attempts to pay on them and they were acquired by the department of education. I recently checked credit karma and they are now listed as closed with a loan balance of 0 for total despite each individual loan still having not been paid. It no longer shows it as a strike against me apparently. I tried getting information from the department of educations Texas office number and was met with an automated response that I have 37000 in loans outstanding. Will this continue to accrue as they are apparently closed? Would it be worth attempting to tackle and possibly consolidate somehow into a single payment or should I go down this constant path of ignoring the debt? Is this just a temporary reprieve from the pandemic? It says the accounts were closed in February of 2019 but I swear I saw them open later than this.. I don't have anyone else to give advice on this which is why I came to you guys for some perspective. Thank you for reading God bless.
General Discussion / Re: Scammed
Last post by TheCollegeInvestor - January 20, 2021, 05:40:52 pm
Read our guide on Student Loan Scams.
General Discussion / Scammed
Last post by Audi4all - January 20, 2021, 05:37:20 pm
   how do we know who
                to trust?

       Or what is real or a lie? Ive had atleast 20 calls today and yesterday about my loan forgiviness. Most recently put my trust into a woman who announces her self as a supervisor of loan forgiviness prosessing. Be careful even the scammers sound ligit. What caught my attention at first was the fact she wanted my fasfa info and to reaet my password along with same for my emails. Secondly she asked for payment in the sum of $250.00 for six weeks. Ive been ignoring her and have looked up the name she gave abby bravo. Fact is only person by that name out of florida was only 24yrs old. Im 42 and i might been born at night but it wasnt last night. Well ive tried not to answer unknown calls along with hers. I dont know who to trust with this aaa fed lawsuit and loan forgiviness. I do know i trust myself cause she sure wasnt getting my credit card number like she ask. Has anyone else recieved a call from this 24 yr old kid? My son is her age i mean omg what in the world??
Navigating Repayment / Re: FFEL Loan Help
Last post by TheCollegeInvestor - January 10, 2021, 09:45:11 am

It's tough to say because, depending on your repayment plan currently and when you started it, you could be close to loan forgiveness as it stands (IBR allows for loan forgiveness after 25 years). If you change your loans, you reset your clock...

With that said, here are the answers to your questions:

QuoteAt this point would it be worth consolidating into a direct federal loan?

Maybe, see above.

QuoteWould I be able to get a lower rate?

You would get the current rate on loans, which is better than what you're paying. But the interest rate doesn't really matter in your situation as you're focused on loan forgiveness. The real goal is to pay as little as possible then get loan forgiveness.

QuoteWould these enable me to qualify for a portion to be canceled as currently being proposed in congress or freezing interest accumulation under Cares Act?

We don't know, but I would guess it would only apply to Direct loans, not to FFEL Loans.
Navigating Repayment / FFEL Loan Help
Last post by impagd - January 09, 2021, 07:54:10 pm

I have 2 FFEL loans totaling about 42000. Loans were taken out in 1992 and are locked in at 8%. At this point would it be worth consolidating into a direct federal loan? Would I be able to get a lower rate? Would these enable me to qualify for a portion to be canceled as currently being proposed in congress or freezing interest accumulation under Cares Act? Unfortunately for many years I made payments but did not pay attention to balance. After taking a closer look I found that my payments were only covering interest and sometimes not even that. My balance has actually increased. I am paying $283 per month and can really pay an extra $50 per month. A little late to be asking but would appreciate any recommendations.

Student Loan Scams / Re: Student loan care / studen...
Last post by Leolincoln - January 03, 2021, 02:22:27 am
Quote from: TheCollegeInvestor on December 14, 2016, 12:55:59 pmOnce again, we can't help you decide that or offer any information about this company. We can tell you, in general, that you don't need to pay for student loan assistance with your Federal student loans. You can do everything for free at StudentLoans.gov or by calling your loan servicer.

Hi TheCollegeInvestor,

Thank you for the information!!

General Discussion / Hi Everyone!!
Last post by Leolincoln - January 03, 2021, 02:17:09 am
I just wanted to introduce myself. I'm Leolin coln, and I'm new to this community, I m searching for my financial doubts, Hope You guys With Me. Cheers!!
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