ajosuweit
Andrew Josuweit
ajosuweit

Nato2010, that’s true, those plans do offer subsidies if your calculated monthly payments don’t exceed the amount of interest accumulating each month. I figured that since PaymentPlansWhat was asking about making extra payments when comparing between a standard 10 year plan and an income-driven plan, those subsidies

PSLF can be a great solution to your student loan woes! Just keep in mind that the plan is politically controversial, so there is a (faint) possibility that it will be cancelled/repealed at some point in the future. FedLoan is correct that you need to be on an income-driven plan in order to get PSLF. There are 4 of

There are select criteria that would qualify you for a closed school discharge. And if you’re eligible, you must follow a specific set of steps. To find out more information, we’d recommend checking directly on the U.S. gov site.

Unfortunately not, if you file jointly, you will have your total joint income considered regardless of the exact breakdown of who makes what.

One option you might want to look into is transferring your mom’s Parent PLUS loans into your name. However, based on your current income (you mentioned it was almost 4x less than your mother’s), I’m unsure whether or not you’ll be approved. If that doesn’t work, consider these options to help get your mom’s loans

That’s a great question, and one that a lot of borrowers have to deal with. It’s always going to be inherently riskier to invest in potential future gains instead of paying off debt that is definitely very real. Having said that, 2.875% is a very, very good interest rate, and like you said, even a sub-par return on

It sounds like you have a pretty good handle on your options, and congratulations on having paid off almost $70K! You are correct that income-driven plans are only available for federal loans, so that won’t work for you. Unfortunately, private loans are very limited in the options available. Refinancing is pretty much

So sorry to hear about the experience at Temple (but huge congrats for reaching out and asking for help!)

I’m sorry to hear this! Your situation really depends on the type of loan and the fine print. If the loan is a federal loan, your wife may be eligible to apply for a Total and Permanent Discharge if she has the appropriate documentation. If the loan is private, you will have to work with the lender for a discharge.

Here’s a simple answer for you: as little as possible. :)

This is a really tough situation. Sorry for your girlfriend here. What are the reasons the servicers have denied her refinancing? If she hasn’t checked the partners on our site, I recommend she look at these options for refinancing. She may have better luck with these partners (thousands of borrowers using our site

Although it may seem overwhelming to tackle this debt, paying this off is doable!

Our recommendation is you take out the SMALLEST amount of loans as possible. FICO doesn’t distinguish student loans from any other type of installment debt (like car payments, or a mortgage), so there are other ways to improve your credit if that’s what you’re thinking. Our biggest recommendation is to pay for your

First off, congratulations on the decision to further your education. And no, it’s not crazy at all. Some of the fastest growing jobs are in healthcare at the moment. To find out if you qualify for PSLF, as well as how to apply to the program, we break it down for you here

That’s so awesome! Thanks for your kind words. If you ever have any more questions, we’ve got a great support team and an awesome blog full of helpful resources!

Unfortunately that’s just the way you have to calculate your payments under IBR. You’re right, it really is a tradeoff between the tax incentives that come with filing jointly vs. the savings on your student loan payments from filing separately. If you’re looking for alternative ways to lower her payments, you could

There are significant financial benefits when it comes to making student loan payments while you’re still in school. Here’s what you need to do: Find out which loans are accruing interest while you are in school. Then figure out which has the highest interest rate. That’s where you start making your student loan

Yes — and no. In theory, because your student loan interest is compounded daily, you can lower the interest you pay if you lower you balance each day. However, while interest compounds daily, most people aren’t paid daily, so this actually creates a false delay from when you have the money to when you pay it. You’ll

Yes there is! Check out our collection of calculators for all four of the income-driven repayment plans here. By comparing just your adjusted gross income (AGI) with what yours and your wife’s AGI are, you should be able to get an approximation of your answer.

No, this is not the way the Public Service Loan Forgiveness works. If you work in public service and would like to maintain eligibility for the PSLF program, you must keep your loans federal (and separate). If you have additional questions, take a look here.