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91
Student Loan Scams / Re: Is Allied Financial a Scam...
Last post by TheCollegeInvestor - May 11, 2020, 06:25:19 pm
If his loan is in default, it would be handled by one of the contracted debt collection agencies. See this list here: Federal Student Loan Debt Collection Companies.

You might also find this guide handy in helping him to figure out what happened: Top Student Loan Scams.
92
Student Loan Forgiveness / Re: New balance
Last post by TheCollegeInvestor - May 11, 2020, 06:22:30 pm
The Federal loan limits don't change. Since these loans are forgiven, you can borrow up to the max (understanding that it won't ever be forgivable again).

See this: Student Loan Borrowing Limits.
93
Student Loan Scams / Is Allied Financial a Scam?
Last post by averyrs - May 11, 2020, 06:09:29 pm
My boyfriend just paid them 1200 bucks and it seems super suspicious. Did he get scammed? He was trying to get his loans put of default. I was shocked by how fast they talked and he signed up... he usually does his research. Seems strange and I'm super worried.
94
Student Loan Forgiveness / Re: New balance
Last post by willievermakeit - May 11, 2020, 02:41:03 pm
Quote from: TheCollegeInvestor on May 11, 2020, 01:45:01 pmI'm not quite sure what you mean your "available balance renewed to your original balance".

Will the amount of money I'll be eligible to borrow again change and become higher.
95
Student Loan Forgiveness / Re: New balance
Last post by TheCollegeInvestor - May 11, 2020, 01:45:01 pm
If you want to go back to school AFTER the 3 year monitoring period, you can only take out new loans unless:
- You obtain a certification from a physician that you are able to engage in substantial gainful activity
- You sign a statement acknowledging that the new loan cannot be discharged in the future on the basis of any injury or illness present at the time the new loan.

Basically, you can't get a second round of TPD.

I'm not quite sure what you mean your "available balance renewed to your original balance".
96
Student Loan Forgiveness / Re: New balance
Last post by willievermakeit - May 11, 2020, 12:14:38 pm
Quote from: TheCollegeInvestor on May 11, 2020, 09:29:32 amYou can go back to school, you just can't do any of the following (or have it happen):
- Get a grant or new student loan
- Your annual employment income cannot exceed the poverty guideline amount for a family of two in your state, regardless of your family size.
- SSA determines you are no longer totally and permanently disabled, or that your next disability review no longer meets the five-to-seven-year review period.

If any of those happen, your loans will be reactivated. It will be the balance from before you applied, excluding interest.

See our full guide here: Student Loan Disability Discharge.


Hey. I'm talking about my available balance for the subsidized and unsubsidized student loan money that I can take out After the whole loan forgiveness period ends in three years.

Will my currently low available balance of sub and unsub loans be renewed to the original balance since my old debts were forgiven?
97
Student Loan Forgiveness / Re: New balance
Last post by TheCollegeInvestor - May 11, 2020, 09:29:32 am
You can go back to school, you just can't do any of the following (or have it happen):
- Get a grant or new student loan
- Your annual employment income cannot exceed the poverty guideline amount for a family of two in your state, regardless of your family size.
- SSA determines you are no longer totally and permanently disabled, or that your next disability review no longer meets the five-to-seven-year review period.

If any of those happen, your loans will be reactivated. It will be the balance from before you applied, excluding interest.

See our full guide here: Student Loan Disability Discharge.
98
Student Loan Forgiveness / New balance
Last post by willievermakeit - May 10, 2020, 06:10:35 pm
From what I gather if you are accepted for the student loan forgiveness (disability) you must wait three years until the debt is gone.. if I decide to return to school and get accepted, what will be my new loan balance? Will it be a fresh start or will it be the remaining of my balance before I was accepted for loan forgiveness?
99
General Discussion / Re: Need help understand how s...
Last post by TheCollegeInvestor - May 04, 2020, 03:49:40 pm
FAFSA - Free Application for Federal Student Aid. You fill out this form to get scholarships, grants, AND Federal student loans. This is need-based financial aid.

Sallie Mae is a private student loan lender.

Federal student loans are ALWAYS better than private student loans. However, you can't get Federal student loans unless you're attending an accredited American college or University. You didn't say what school, but the living abroad factor could be a problem in this regard.

You might find this helpful about how to think about paying for college: Order of Operations To Pay For College.

As for scholarships, apply early, often, now, and later. You can never apply to enough scholarships - but it takes time and effort to find them, apply, and hope you get them.

Finally, think about ROI - return on investment. College is an investment. Your goal of going to college (or grad school) is only to boost your career earnings after you're done (unless you're going for free due to whatever factors that may involve).

If you borrow too much, and don't earn much after you're done, you're going to struggle financially for life and hate the fact you went to grad school.

Sadly, grad school for a majority of people has zero or negative ROI - so that's why I'm cautioning you in this regard.

See this: College ROI.
100
General Discussion / Need help understand how stude...
Last post by pilecarls8 - May 04, 2020, 11:34:41 am
I understand that I may be coming off a bit naive here but I am fortunate enough to not have had student loans for undergrad, however, I got accepted to grad school abroad and now have a million questions.

I was told to apply via FAFSA, is that the same as Sallie Mae? I understand there are also Private student loans too, which is the better option? Since I am going to be living abroad with no full time job and not too much cash on hand - will they also include cost of living expenses in the loan? If so, how much? At what point in the process can I apply for scholarships?
שירותי ליווי בחיפה

Thank you in advance!!
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