Student Loans

[vernond]

I'm looking to get some insight into student loan repayment. I just finished grad school in May and like many others I am finding the job market is awful. I have a masters in social work and social services are usually the first thing to go in budget cuts. Needless to say it's brutal on the market. Because of this I'm still working at my job I had to make some money through school. Which I am greatful for because I know many others do not have a job at all. Due to this I'm looking at the income contingent plan and the income based plan but I can't really tell the difference in the two and which would be better. Anyone have any experience with either of these repayment plans?

[Gotmadskillzson]

Re: Student Loans

Just call the student loan center. You can always get your student loan repayment modified to be based off your income level. So lets say if you just making $7.50 an hour.....instead of paying back $400 a month, which would be the normal amount, you would be paying like $100 a month.

OR you could ask for forebearance or deferment.

[GAMEC0CK2002]

Re: Student Loans

Yep. Student loans is one of those debts where they will work with you. Call and talk to one of their reps.

[Hova57]

Re: Student Loans

your best options are what gotskills said. until they pass laws against higher education universities and colleges and gainful employment

[stlstudios189]

Re: Student Loans

dodge defermant the interest keeps building. my payment is now $22 a month higher

[ryan36]

Re: Student Loans

yeah, you m ay be more interest on deferment vs. forebearance or whatever the terms are, but you can get the whole thing postponed for awhile....call the DL center...they're usually super helpful, they don't try to trick you into not taking advantage of services

[vernond]

Re: Student Loans

Yeah, I'm going to have to call tomorrow. This whole process is beyond frustrating. Has anyone consolidated online? If i'm understanding it correctly I have to enter in every single disbursment made during school? That's going to be a major pain. All of my loans are through direct loans except two. So I'm wondering if it's even worth it to consolidate?

[NDAlum]

Re: Student Loans

Is there any wiggle room on the net amount? I mean I really just want to pay it off and I have the cash, but I want a discount for paying early.

[GAMEC0CK2002]

Re: Student Loans

The discount in not having to keep paying the interest.