“Dear Steve, My son is out of the country and I am paying off his loan. We are seniors. He has volunteered to pay himself. However, by the time currency exchanges have been calculated, it is cheaper for us the pay his loan. We have ‘myfedloan.org’ loans at 6.8% which I think is very high. …
“Dear Steve, I owe about $55K in student loan debt. I am interested in doing a lump sum pay off at a discounted rate. When I spoke to my lender, Total Higher Education/Great Lakes, they said this was impossible since the loan was through the government. After reading a bit more, it seems that a …
“Dear Steve, I have about $19,000 in government-backed student loans at 2.25%. When I graduated, I was advised to NOT pay off the full debt right away and “take advantage” of the low interest rate. So, I have been paying slightly more than the minimum each month ($100) and have only knocked the principal down …
A friend asked me recently what really happens to people who are being sued over a defaulted federal student loan that was referred to the Department of Justice by the Department of Education. So I had to do what I typically do with these types of questions and spent hours and hours pouring over lawsuits …
I was looking through the recent search phrases on the site this morning and thought I’d take a whack at answering some of them quickly so I’m trying a new approach, the speed round. What happens if you do not answer a debt collectors who is an attorney? If you mean answering the phone, you …
