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Started by Shika, September 13, 2016, 06:07:43 pm

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I first received a post card from a company Ameritech and then I called them because I was interested. At first. I started giving my information to sign up because it sounded good to stop paying Nelnet $600 and only pay $100, but yet it is based on my income.  :-\ Then I ended the call so I could research them. Of course they tried to say, they may only be able to offer for a limited time only because it is unknown when the program would end or laws change. They referenced the program being based on Obama student loan forgiveness. They gave me their website, which did not give much information and I was not completely convinced. They keep sending me postcards and call me 1-3 times a month. I really want to know if they are a scam or not. Please help because I really need to find another option in reducing my payments. As of right now, Nelnet says I do not have any other options.


They aren't a scam, but they will charge you $100s to do what NelNet does. If you're on IBR or PAYE, then they can't do anything for you. If you want to be on IBR, then call NelNet and tell them, or go online to StudentLoans.gov.



One last question. I am on IBR which is the reason j am paying $600 and can't afford it. So, based on what you're saying Aneritech would Not be able to help me and reduce my payment to $100 a month correct?



No, IBR is based on your income. As long as you recertify every year, IBR won't exceed 15% of your discretionary income. At $600 per month, it means you make about $45-50k per year. If that sounds right, then Ameritech can't do anything for you. If that sounds wrong, you need to call NelNet.