I have been so confused and getting contradictory information from people, and feeling panicky about the deadline and what to do.

I have about 10000 left in direct loans, both sub and unsub, and about 3500 left in Perkins. I graduated 2016, started payments after the grace periods and have been on the standard payment plan since, no deferments or forbearance other than the standard covid time, so in about year 7-8 of the standard 10 year repayment.

I have been working for a local govt agency for about 5 years. I was told it wasn't necessary to apply for PSLF yet since I'm not near 10 years. I'm getting varying opinions on consolidation and about the Perkins.

Should I consolidate my Perkins in this situation, with the looming deadline deadline? Do I apply for PSLF now or do you wait until the 10 years, if I continue in a public job?

Sorry to sound so dumb. Thought I had it figured out but everyone keeps telling me different things, and Aidvantage has been of no help.

I have $19k left to pay on my federal loans and my wife and I filed separately this past year. My income was higher than hers in 2023 and will be in 2024. I claimed our 2 kids on the latest tax return. However, she may be able to claim them in 2025 with a higher salary than me then.

I’ve always been on standard repayment, but see that SAVE drops the payment significantly. Does this mean that it’s a potential way to stop the clock on accruing interest? If I make the minimum payment for the next year and a half and then don’t recertify, can I just return to the standard plan in 2025 and pay it in full?

I feel illiterate even asking this question, but haven’t read anything else tonight that is similar to this. If SAVE is a long term commitment or nothing, there’s just no benefit. How are you savvy people using it short term to pay off loans in full?

Thanks in advance!

I’m looking into enrolling into the SAVE IDR repayment plan for my federal student loans (~26k for undergrad with rates ranging from 2.75-5%).

I know IDR plans have had a bad reputation in the past, but the newer SAVE option seems like a no brainer.

I made about $60,000 last year and would only have to pay $54/ month (down from $280) with SAVE. Am I missing something? A catch I should know about? TIA.

I am wondering how long it would reasonably take to pay off $123,000 in loans with an $85,000 starting salary as a lawyer? I will not be paying any rent and living at home. I am thinking I will be able to make between $3,000-$4,000 payments each month if that sounds correct?

Thank you so much for your help and any tips to pay them off!

For some context, one of my parents co-signed half of my student loans and the other parent co-signed the other half. I'm trying to refinance these loans now but my parents agreed to only co-sign for the loans that they've already co-signed. Would refinancing companies let me have two separate refinanced loans? Another question I have is, would this significantly increase the amount I owe each month and/or the amount of interest I owe?

If student loans ( some from before 2020 and some after 2020) were paid off during the pandemic, and you then received a covid payment refund in anticipation of forgiveness before the Supreme Court decision, then this means that the loan balance was fully reinstated after the refund. If interest then starts accruing on this new balance as it did after forbearance ended in September 2023, are you able to deduct this interest using the 1098-E? I'm not talking about old interest and I did not take deductions for previous years, I'm talking about NEW interest for the reinstated loans.The IRS guidance says that only interest were from Qualified Education Expenses paid or incurred during time as student, but what about new interest from loans that were reinstated? Also, some of these loan payments may be from student loans that I ended up not needing due to excess cash. Can these be counted for 1098-E now that they are accruing interest even though there was not necessarily a qualified expense attached? Not really sure how I would even break that out. I received a 1098-E and not sure what to make of the numbers.

I have 3 student loans through Mohela. Two unsub one one sub.

In Nov '23, i paid $100 for my two loans that have interest accruing. In Dec my loan website was shut down and transferred to the new website. The payments i made were gone. after hours on hold i was told the transition was still being done and the payment would show up. In march i called again and the payment showed but only $50 of it. ok i'll write it off for now.

I just went into the website last week to make a payment (only$20) to test the system. it came out of my bank but is showing up on the web site that it was refunded. I called again and was told if a payment is made within 120 days of disbursement it gets refunded. I made the payment on my 23-24 loan specifically. I was told the refund goes to the government? the refund isn't showing in my bank yet. I just started this process and i'm already frustrated.

all i want to do is pay the interest while I'm still in school and every time it doesn't work. Has anyone had this issue? any help or advice?

TIA

I currently will be graduating may 2024, with interest my student loans will be 33k and a monthly payment of $280 starting November 2024. I will be taking community college classes this summer and fall, with the plan of applying for medical school in may 2025 and possibly starting July 2026.

One option says “Advance my due date by the number of payments I cover” and the other says “Bill me for my full monthly payment”.

Total remaining loan balance is 4500 for one loan at 3.7% and another at 1300 at 3.7%. I’m on the SAVE repayment plan or whatever the recent one Biden implemented is called. My monthly payment for both loans is around $18 a month. Typically I’m paying $100 a month, sometimes a little more or less.

Hey everyone,

Just trying to get some general feedback/info here as the various folks I've tried to talk to from the Federal Student Aid program and my servicer have been varying degrees of helpful. The basics:

I have $84,000 in student loan debt, been paying since 2016. I have a small amount of private student loans that are thankfully very small that I will be paying off within the next couple of years, provided things go well career-wise, so for this purpose I'm not really including them here. My loans were previously in the IDR/REPAYE plan, but are now enrolled in the SAVE plan.

I've been following the news over the last while about the attempts at loan forgiveness and repayment adjustments, and also about consolidation. My loans are currently in several groups (all of them except 2 in balances of less than $20,000)

A large number of people have recommended I consolidate all of these loans into one. However, when I inquired about this, I was notified that my minimum payment will almost definitely increase, by over $100/month, and other than simplifying what I owe, I'm having a hard time justifying this move. Am I missing something, or is it a situation where it just might not benefit me where it does others?

Aside from that, proposed new loan forgiveness/adjustment plans have made mentions that loan balances under a certain amount (for example, $12,000) may be forgiven if certain criteria are met. Does anyone know if this is based on an entire balance, or the balance of individual loans?

Unfortunately this last bit has been a mystery to the people I've tried to ask about it. I'm not even sure if these questions have answers yet.

Any thoughts/insight are appreciated. Thanks!

Today I paid off my student loans. Took me 24 years and 11 months. Never received a $ from my parents for college or law school. Had to work full time through it all. Grew up lower middle class and had to grind. Had no idea how hard it would be back as a naive kid. Glad that I didn’t know or I may have passed on the opportunity and that would have been a mistake.

Never missed a payment, even during Covid. Never received $1 of loan forgiveness, although I certainly don’t begrudge the lucky ones who do.

I’m proud. I’m grateful. And I’m f-big relieved!

Hang in there everyone! Some of us (somehow) reach the finish line. Hope you do too. And I can’t wait to read your message when you do! 💪🏻

Hi all,

I am totally stumped as to how to get Mohela to follow through with this.

I am a recent graduated and every single on of my loans is eligible for the SAVE plan, but despite this Mohela has 3 of my loans under a different plan. I have called them numerous times and each time I am told that it's just a problem on their end and it should be corrected in 20 days. I wait, and wait and nothing happens. The loans stay on the same plan and now I am overwhelmed with emails from Mohela about missed payments for loans I would not be making payments on if they were correctly under SAVE.

I have checked and these loans are totally eligible for SAVE there is no issue. Mohela has also confirmed, and when I go to the studentaid website to recertify or resubmit an application in hopes that this will correct things for Mohela even the studentaid website notes that they are eligible for SAVE.

Please!! Has anyone else had this issue? What helped?

I am running on a ton of misinformation about refinancing vs consolidating. I have 3 loans 2 at 7.5% interest and one that just made its way to 12% interest. My plan had me on track to finish paying in 6.5 years, but now I am sweating this 12% and I just want to refinance. Any advice on where to start? I know SoFi has preapproved me but they feel kinda slimey and I don't know if that is cause all banks kind of are or cause its SoFi.

​

If I plan to pay for college in full each semester is there any benefit in taking the $5,500 annual federal direct loan offered? (would pay it off right away) Is there a possibility I might be refunded a portion down the road if changes are made to any tuition reimbursement plans the govt may offer?

• I have a bank account for student loans with $25K cushion + $3K monthly deposit. I do debt avalanche and pay $3K towards loans every month, which allowed me to pay off Loan 1.
• I got a CC offer that allows balance transfer with 3% transfer fee + 0% APR for the first 15 months. Thinking of balance transferring the highest interest loan (Loan 2), which comes out to ~$42,300 that needs to be paid by the 15th month. * Following balance transfer of Loan 2, I'll have Loans 3 and 4 that remain with my loan servicer, with a minimum payment of $715/month.

Would the balance transfer strategy as described above save $$$ in the long run? Or, is the savings negligible and just stick with my current debt avalanche strategy keeping all loans with my loan servicer?

Thanks!

Summary of Loans:

Hello, please help, I applied for the SAVE program last month and had it approved before my next payment leading it to $0 for the month. But now for this month my upcoming payment it is back to the normal payment. Do I have to apply for recertification or is this a mistake?

I went to the federal student loan site to do the SAVE application in order to qualify for relief as I have been paying on my loans for 22 years. When I did the application it came out with two options, one was $88 dollars per month and one was $600 per month. I have no idea why these two options were showing but I currently pay $75 per month and there is no way I can pay $600 so I did not finish the application. Does anyone know why it did this? I am afraid to apply and get a much higher payment.

Hello! Okay, I will be as clear as possible and then I would truly appreciate some help or guidance where I should look.

1. I graduated law school in 2003. I started paying back my student loans that year.
2. I had FEDERAL government loans consolidated - at that time, they are/were *commercially held FFEL loans. No private loans at all.
3. I have paid on time, every time, by direct deposit for a little over 20 years <--note that 20 year comment.
4. They were serviced by Nelnet now by Sloan. They are consolidated but NOT DIRECTLY consolidated with the federal government.
5. My interest rate for repayment is: 1.625% <-- yes, really.
6. Today, 4/24/24 Sloan said I need to:

a. Directly consolidate with the federal government

b. And because I've been paying these loans back on time every time for 20 years (didn't even stop repaying during Covid), I should get loan forgiveness.

BUT HERE IS THE QUESTION: My loans were for LAW SCHOOL. I did not have ANY loans for undergraduate. So from what I'm reading, I would have to be paying those loans back for 25 years NOT 20 before I'm eligible for student loan forgiveness. Do you all agree? Am I missing anything? Thank you!

Did anyone listen? Curious what happened. Sallie Mae Nalnet and who ever were suppose to be there since the gov threw them under the bus for why people haven't been paid is about all I know.

I applied for TPD Discharge via physician certification on 3/22/24. I have Ocular Histoplasmosis (Macular Degeneration - wet) in my right eye.

The status went to “Application Under Review” on 3/26/24. My status updated today 4/25/24 to “Pending Final Approval.”

Has anyone been denied at this stage? What’s the typical period of time between this stage and final Denial/Discharge? TIA

I graduate next month and have racked up a HEFTY amount of student loans in 6+ years. Should I consolodate them all into 1 loan/payment? Is that the same thing as refinancing? If not, should I do that to? Should I wait until my deferrment period is over for the subsidized loans? I believe thatll be in about November/December 2024. I want to pay this off as quickly as possible for as low as possible. I may qualify for PSLF (Public Service Loan Forgiveness) and Pay as you Earn repayment plans. I am also disabled, but not disabled "enough" by social security's standards so i still have to get a job tha accomodates my needs.

13 loans in total:

4x unsubsidized (interest rates 4.3 - 6.54%)

4x subsidized (interest rates 2.75 - 5.05%)

5x Grad PLUS (interest rates 6.28 - 8.05%)

Hey guys by the time I graduate in 2027, I would have 500k+ in student debt. My goal is to buy a dental practice in the future, maybe 3-4 years after graduation. What are some good plans to pay back the debt? I was thinking IBR and not refinancing and wait for tax bombs. What do you think?

My wife has both grad and undergrad loans. She is scheduled to be forgiven for the undergrad loans via PSLF in roughly 2 years. Her grad loans are years behind her undergrad loans in PSLF eligible payments.

She saw that loan consolidation (before April 30) would result in the highest PSLF payments from the old loans counting towards the consolidated loans forgiveness. Quote and link from studentaid.gov below

Does that mean she could consolidate her 2 grad loans with 1 of her undergrad loans and get the whole consolidated loan forgiven in roughly 2 years?

"Assuming your repayment history overlaps for each loan, the consolidation loan will be credited with the longest amount of time in repayment of the loans that were consolidated. For example, say you had 50 months of time in repayment on one Subsidized Stafford Loan and 100 months of time in repayment on another Subsidized Stafford Loan. If you consolidated those loans, you would receive credit for 100 months of payments on the new Direct Consolidation Loan.

If your repayment history does not overlap for each loan, the consolidation loan may be credited with more time in repayment than the loan with the longest amount of time in repayment. Using the same example above, if the loan with 50 months of time in repayment included January 2017 in repayment status but the loan with 100 months did not, the resulting consolidation loan might be credited with 101 months of payments. This can occur where borrowers relied on different repayment, forbearance, or deferment options on different loans for the same period." (https://studentaid.gov/announcements-events/idr-account-adjustment#questions-answers)

Hi all,

I am currently at a VA position that offers EDRP program. I am coming to the end of my first service period.

My fed loans are through aidvantage formerly navient. Does anyone have experience getting a payment history that also shows my name and/or account number on the same printed file? I can only get a document that shows payment history, but does not show my account number.

Thanks!

Basically I need an additional $10k

Hi everyone,

Has anyone had trouble with MOHELA’s auto-debit withdrawing funds and putting them toward loans NOT enrolled in auto-debit? I am paying for Parent Plus Loans that my mother took out for my tuition. I have graduated, so I have four loans in repayment that have a minimum monthly payment of about $300 each. My sister is still in college, and she has two loans in deferment in my mom’s name.

This past month, instead of putting $300 toward each of my four loans enrolled in auto-debit, MOHELA put $300 toward one of my loans and $900 toward one of my sister’s loans. My mom did call to correct this, but the mistake will not be corrected until June.

Is anyone else having problems with this? I don’t understand how it’s okay that three of my loans did not receive their minimum payment for the month, and how did so much money go toward my sister’s loan if hers is not enrolled in auto-debit? Also, there is one loan that I have been putting extra payments toward, and it says that the next payment for that loan is due in July of 2026. Do extra payments push out the due date for your next required minimum monthly payment?

My mom’s account has not transitioned to the new MOHELA platform. MY account has transitioned, and it does seem better. Hopefully accounts will continue to transition over? Can you request to expedite your account’s transition to the new platform?

My spouse went to brown mackey back in 2011 to 2013. He totally missed the notifications that the school was being sued and that he had an opportunity to apply for forgiveness multiple times.

Anyway, he was called by a company today. That claimed that for a thousand dollars they could get 16k of his 17k forgiven.

They want an upfront payment of a $1000 or 3 monthly payments of $300 something.

Does this even sound like a remotely legitimate idea? My husband did finally apply for Borrower's defense last winter. (Or so he says. He has a bad habit of thinking he has done something but we find out later it was the wrong website and such so I have no idea how to check if he actually has submitted the application).

This company did not reference borrowers Defense, either his application or in any other context. From my understanding at this point, borrows defense is the only way to get loans forgiven unless there is some kind of new lawsuit going on and even then I thought the application was still how the DOE calculates who in the lawsuit gets their loans forgiven.

That's a lot of information and a really long story for just the simple question of is this a scam?

Please, someone tell me there's hope. I have 240k in Sallie Mae loans and my payments are coming due in July. My monthly payment will be > $3500, because my interest rates are criminally high. Like I'm talking a few at 18%.

My credit is slowly improving, up to 650. Every place I've tried to refinance with rejects me and tells me I'm not even eligible to apply with a cosigner. Sofi, College Ave, all of the Credible lenders.

I am lucky enough to have a salary of roughly 117K, but I feel I am never going to be able to buy a house or even get an apartment where I live (FL). Can anyone recommend a good refinancing company that will work with my credit score? I have a cosigner with excellent credit who is willing. I just can't handle the emotional stress of this anymore.

Edit: I’d like to add that my original loans were $160k not 240. That’s just how deep I am now with interest. My degree is a PharmD and these are 100% all private loans

I cannot figure out if I should consolidate my FFEL loan into a Direct IDR loan. The benefit is that I could get forgiveness after 25 years of payments. The potential downsides: 1. I don’t know if the interest rate would be higher. 2. I think my monthly payment amount would be higher. 3. I don’t know if I would wind up paying more than if I just kept what I currently have. I can’t find a calculator online to help and the people I called at the 1-800 numbers didn’t know.

If anyone has any input I’d be so grateful!

My FFEL loan was consolidated in 2006 - it consolidated my government undergraduate loans with my private graduate loans. It is listed as a consolidated FFEL loan, and it is held commercially by Nelnet, now Sloan.

My repayment began in 2006 and is a 30-year plan so I’m set to have payments until May 2036. My current interest rate is fixed at 3.125%. My current monthly payment is $295. It’s mostly principal at this point (roughly $200 principal and $95 interest each month).

My understanding is that under an income-driven repayment (IDR) plan, I’d pay 10% of discretionary income. My spouse and I together have a discretionary income (calculated my AGI minus 150% federal poverty level) of $52,500, so that’s $5,250 per year divided by 12 which is $437 a month. Higher than my current $295 monthly payment. But would I save by consolidating into a direct loan?

Things I’m confused about:

1. Would my interest rate be higher or would I get to keep my current 3.125 rate?
2. If a new consolidation means all the interest gets paid up front again, then would most of the monthly $437 payment go toward interest rather than principal?
3. How can I calculate how soon each would be paid off and how much money I’d spend if I consolidate into a direct loan and payments end in May 2031, versus I keep my current loan through May 2026? I don’t know how many years I’d be in repayment if I consolidate.

Thank you all!

Received a letter from Mohela that they will not grant IDR because I did not submit financial documentation.

I consolidated all of my loans on 12/13/2023, and at the same time I applied for IDR and submitted pay stubs from both myself and my spouse. I had been continuing to check on the status of both the loan and the IDR with barely any changes on the Student Aid website. Around March the status changed to something weird and unreadable (53e0iu5310.am.te). I was able to email Student Aid in March and they emailed me back stating the IDR was still in process/review. Though unable to get a hold of Mohela, they never reached out to me in all this time about needing my financial information.

It even says on the Student Aid website I supplied financial information when I submitted both my application for consolidation and my IDR application. On April 13, I received a letter that my IDR could not be granted and my payment is due at the end of April. According to the Student Aid website my consolidation is still in review. This also confuse me, how do I have a payment if my consolidation is not complete.

I filed a complaint on the Student Aid website and am hoping to hear something. Curious has anyone else experienced this. Prior to applying for consolidation my IDR was $0. My payment at the end of this month is almost $500. I am beginning to feel like I have screwed myself.