Looking for Medical School Student Loans Forgiveness or Help. – Ace

“Dear Steve,

Time delay and did not finish Residency until 2006.

Another Time delay and did not procure steady work until 2009.

Principle Loan Values as Follows-
Currently have 12,000 in Treasury Offset from National Student Loan Program
Currently have 48,000 past Due from Wells Fargo formerly ACS.
Currently have 220,000 in Sallie Mae Loans in Deferment
Currently have Perkins Loan Default and Civil Judgement-Loan was $12000,
“Collection Fees” tacked on by prosecuting Laywer in 2005 41K.

It was a default judgement since I did not appear.

Currently have another 60K in Private Loans in default.

All this for MD Education, Nothing from Undergrad.

Have hit an unemployment patch since late last year and Judgement Attorney not happy. Made payments as agreed for 4 yrs up until last fall.

Cannot find an Attorney in Nashville, TN thus far who feels comfortable advising me on my options if any at this point.

Spoke with 2 or 3 thus far and they listen to me talk, take my number-“I’ll research and get back to you”, then poof no further contact.

Per the background I gave, I am not finding anyone who can advise me on a solution so to me this is all unmanagable and will remain so, especially the judgement. I let counsel know that I would be happy to resume payments once I am able. I rent and drive a borrowed car, no money to speak of that I can use to address this or any of my giant current student loan debts.

Do you have any next step suggestions?

I definitely see why some folks with student loans leave their country of origin and move abroad to live.

My defaulted Perkins is not suitable for rehab since it has gone to judgement as per Federally stated guidelines.

I am considering a Direct Loan to consolidate all my current loans that are not in default into one place.

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Already requested an application today.

Thank-you for your time and thank-you for this site.


Dear Ace,

So am I safe in assuming you are now a licensed MD?

Unfortunately when it comes to private student loans your options are limited. And while the judgment attorney is miffed you are not paying, they can always go for a wage garnishment when you are.

All of this is secondary to income so while it is stressful and unfortunate, there isn’t much you can do about the demands until we solve the income issue.

It’s a bit like someone demanding you give them water when it’s not raining.

It is what it is and that’s all that it is. Focus on income now and let’s deal with the mess later.

Since you are apparently located in Tennessee, what about the Health Access Incentive Program to get some grants to use towards your loans?

If you decide to look at other areas in the country, check this list of loan forgiveness programs.

Please post your responses and follow-up messages to me on this in the comments section below.


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1 thought on “Looking for Medical School Student Loans Forgiveness or Help. – Ace”

  1. So sorry to hear this. Its insane to know that all you really wanted was a career to help people. Atleast you have the degree and now can utilize it towards a loan forgiveness plan? NIH also has loan forgiveness plans for MDs. You should check that out too. 


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