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Start Here: Student Loan Forgiveness

Started by TheCollegeInvestor, July 15, 2015, 10:29:08 pm

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To tell you the truth I am not quite sure. 



Hello!  Thank you very much for this forum.

My husband consolidated his Direct Unsubsidized Loan in 2011, current balance: $47,196.00.  Ever since then, he has been on IBR.  This year, he has been accepted to  the Federal government and is currently earning $87000.00 annually; increasing to $103,000.00  next year.  Is PSLF still an option?  What tack should he take in paying his student loan given his change in circumstance?  Thank you very much for any guidance you will offer.


PSLF is an option, but he might pay off the loan on IBR before he gets forgiveness. Never hurts to certify and stay on IBR.


These loan forgiveness programs only apply to American Federal student loans.


Debating to get out of fedloan. I currently owe about $74,000 and qualified for loan forgiveness. My monthly increased to $660/month and now after reapplying, my new estimate maybe $1500/month. Honestly after 120 pymts, there will be $0 forgiveness.

Will it be smart to consolidate with another student loan and get out? Thanks!


Has your income gone up substantially? The only reason you have that jump is you either got married, or your income has risen.

In either case, it might make the most sense to pay off the loans quickly - maybe even refinance to save interest.


Yes my income has gone up a lot. I think you're right, i'll refinance my loan so I can make smaller payments. I'm purchasing a home at the moment, so decreasing my fedloan monthly will help. Thank you so much for your response. 🙏🏼


Hi there has anyone here heard of Freedom Doc Prep? I searched them up and they seem to be legit. They did mention a fee for the service which is making me second guess my self. I haven't sent them any documents. I'm wondering if its too good to be true