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Student Loans

Should I Payoff My Navient Student Loans or Save for Retirement?

retirement

“Dear Steve, I’m 34 years old, single, graduated a college when I was 26. Currently I have 2 student loans: 1. Navient Student Loans: $ 25,387.21, 5.25%, monthly payment of $ 235.41 2. AES Student Loans: $17,152.33, 5.125%, monthly payment of $ 186.68 I have about $10k in a saving account (with 1% interest), and a rollover IRA with about ... Read More »

    They Tell Me My Parent PLUS Loans Are Not Eligible for Help

    Drowning swimmer

    “Dear Steve, My children were living with me when they filled out their FAFSA forms. I ended up with over $20,000 in Plus parent loans as a result even though my only income at the time was child support. Can parent student loans (PLUS loans) be either transferred to the now adult children or be discharged in bankruptcy? Being parent ... Read More »

      When I Retire Will My Social Security Be Reduced Because of Student Loans?

      calculator

      “Dear Steve, I took out Parent Plus loans for both of my children while they were in school. Each of them also have unsubsidized student loans which they are paying off. Once both children were out of college, I consolidated the Parent Plus loans into one and have been paying them regularly for the past 10 years. I am 63 ... Read More »

        Is There Any Hope for My Son to Bankrupt His Private Student Loans?

        Decision time

        “Dear Steve, My son has about 150,000 in private student loan debt. Which I feel is my fault as I filled out the paperwork and told him never to worry we would work it out and then the 2008 collapse. Could you recommend the best course of action for dealing with these. Filling for bankruptcy with an attorney or on ... Read More »

          Can My Student Loans Be Forgiven After Ten Years?

          break free from prison pressure or quit job running away towards

          “Dear Steve, I have student loans that are more than 5-10 years old from undergrad and graduate school of $84,000 or more. I have made payments over the years but not consistently. recently my wages were garnished and created a financial hardship for me. After a least ten years or more could my loans be forgiven? I just read your ... Read More »

            Can We Release the Cosigner on Our Parent PLUS Loans?

            Student Loan Corkboard Concept

            “Dear Steve, My husband took out several Direct Parent Plus loans for our daughter’s education (federal loans). Because his credit wasn’t the greatest my father-in-law endorsed those loans. Now that my daughter has graduated we consolidated those loans. We only make about $60,000 a year between the two of us so we need a repayment plan with low payments. We ... Read More »

              Sallie Mae Won’t Help Me Lower My Interest Rate

              Mature woman confused

              “Dear Steve, Student loans from 1997 at 8.5% fixed rate when consolidated federal loans. I cannot get any help from Sallie Mae to reduce my interest rates. I don’t want to refi with a personal loan because I’ve been laid off three times during my career. I tried Income based for one year reduced my loan amount $100 but now ... Read More »

                My Opera Singer Wife Will Never Get Out From Under the Student Loans

                Women fighting

                “Dear Steve, My wife has several federal student loans from grad school dating back to around 2005 She also took out two private student loans through Chase in 2005 and 2006 It has been sold several times and now is with AES. The interest is killing us. She sings opera, I’m a personal trainer. we simply don’t make enough. She ... Read More »

                  How Can I Lower My Parent PLUS Loans for My Daughters Nursing School?

                  Ready to Collapse

                  “Dear Steve, I am a single mother and a NYC public school teacher who is retiring this June. I am 62 and I have been taking out Parent Plus loans and will have to take out more until my daughter graduates from nursing school in December 2016. My estimated Parent PLUS Loan will be around 70 max. by the time ... Read More »

                    Does a School Have to Provide a Real Skill for All That Student Loan Debt?

                    mans hands behind bars in jail or prison

                    “Dear Steve, My friend somehow got her grants changed to loans when they made her reapply right before the school year started as they were installing a new system. She doesn’t know what happened as she was actually going thru a tremendous amount of turmoil due to robberies, harassment from juveniles (she was working at the detention center at the ... Read More »

                      I Was a National Guard Nurse With Loads of Student Loans

                      Military Flag

                      “Dear Steve, I am a nurse who graduated in 1997. I went into default and had my wages garnished for nearly two years. I was in the Florida Army National Guard and one of the benefits was student loan repayment of $20,000. I took out a grand total of $30,000 thinking I would only have to pay back $10,000 since ... Read More »

                        How to Locate Who You Owe on Your Private Student Loans

                        Searching-right

                        “Dear Steve, I’m a music teacher making $1,850 a month. I’m 31 and suffering the consequences of bad/lack of financial advice early on and of course my own terribly decisions. A few years ago when the calls started in earnest I jotted down notes on the names, location and totals of my student loans and I was almost $200,000. I ... Read More »

                          Can the Obama Student Loan Program Really Help Us?

                          hiding-1

                          “Dear Steve, So this is less my situation than my partner’s. Ryan had a bit of a rough patch in his younger days – a pretty long one actually – and managed to rack up a school loan debt without managing to graduate college. He has $18,000 on the books right now that has been deferred for years for different ... Read More »

                            I Was the Biggest Jerk to Get So Buried in Student Loans

                            Frustration

                            “Dear Steve, I have $130,000 in private student loans from Wells Fargo, Sallie Mae, Citibank and Discover. The minimum monthly payment is $1,595. Since graduating in 2011 with a liberal arts bachelor’s degree, I’ve made monthly minimums through myriad part time jobs, usually several at once, odd jobs and temporary positions through a staffing agency–never finding full time work and ... Read More »

                              This is How You Can Settle Your Navient Student Loan

                              vector las vegas sign over the night star burst

                              “Dear Steve, My wife has a reasonably large private student loan. I have recently come into money and would like to settle this loan with Navient for a lesser sum than what is owed on the loan. What is the best way to go about this and what questions should I ask in order to get a settlement? Chris” Dear ... Read More »

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