Hey Crocdogg!! What kinds of loans does she have? If the loans are all unsubsidized, that means they are building interest even before the grace period is over and payments are due. If she has the money set aside now, it may be a good idea to start making payments while she is still in school to cut down on the amount…

Hi Blinnard- there are a few programs related to teachers for student loan forgiveness. The most common is Teacher Loan Forgiveness, which offers forgiveness after five years. The amount forgiven ranges from $5,000 to $17,500, depending on eligibility. There are many requirements, so it’s best to read through them…

Ouch. Sorry to hear that — those rates can definitely hurt. If you’re 100% set on refinancing, we have 6 recommended partners on our site here. These partners have been used by thousands of our users, so we know they’re good (and you can compare rates yourself to see which partner is right for you).

It depends on what kinds of loans you have, and what interest rate those loans have. In some cases, refinancing or consolidating your loans can help reduce your interest rate/and or monthly payment. By reducing your interest rate, you can potentially save a lot of money over the length of your loans. A great resource…

You’re doing a great job with the first step by even asking this question. One of our most popular pieces of content, “The Ultimate Guide to Paying Off Student Loans Faster,” should help quite a bit with managing (and paying off) your loans quicker.

Annaid08- did you graduate from ITT Tech? Current students and recent graduates of ITT Tech may be eligible to have their federal—not private—loans discharged as a result of ITT Tech’s closure. All federal debt will be forgiven so students have the opportunity to pursue their education or career goals. The Department…

Great points. It’s worth noting that the student loan interest tax deduction isn’t worth a whole lot. The maximum refund possible from it is $625 per year. And to get that amount, your salary must be under $60,000 AND you must have paid $2,500 in interest that year (which is much more than the average borrower pays).

Hi Aikage,

Hi Kadilak,

Hi David,

Hi Chripstopher,
It sounds like you have a very complex situation. We don’t recommend specific companies or services, but would suggest getting in touch with a certified financial adviser. If you have already decided for sure that you are pursuing PSLF, you may be able to calculate what your payments under IBR/PAYE…

The don’t all require “super high” income, but one of the key variables for approval is your debt-to-income ratio.

Hi Broian - thanks for your question!

If your wife has federal loans I would recommend applying for the PAYE (Pay-As-You-Earn) program (see here for more information: https://studentloanhero.com/student-loan-r…) - if she qualifies, she would essentially be making $0 payments (assuming you file separately).

If you have…

Hi Bryan,

Our lending partners will allow you to refinance federal student loans including Stafford Loans. It’s certainly possible you could get a lower rate than 6.55%, but it depends on the rates you qualify for.

Also keep in mind that by converting your federal student loans to private loans, you’ll lose access to…

The general framework for maximizing the Public Service Loan Forgiveness amount is to minimize monthly payments as much as possible. PAYE will likely offer a lower payment than IBR, thus maximizing your PSLF amount.

Hi Inkliizii,

If you have federal loans, fortunately there are options for you. You should probably look into an economic hardship deferment until you return to school in August. This will pause your payments for the time being. You will be eligible for this if your loan payments are much higher than your income, and…

Hi James,

Hi FridayFriday,

Hi DaRabidDuckie - thanks for your question, and congrats on creating a budget!!!

If you have federal loans that you’ve defaulted on, you’ll need to get your loans back in good standing - for that we recommend getting in touch with your servicer and setting up a default rehabilitation plan (after 9 months your loans…

Hi Hollie,