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Tag Archives: federal student loans

I Went Back to College Late in Life But I Still Have the Debt

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“Dear Steve, At the age of 40 I got a AA degree with Federal Student Loans. I do not work in my field of study. I am now 55 and I did miss a few payments after wife got sick and lost job and that chewed up our savings. I have been paying steady for the last 4 years and ... Read More »

    Why is the Department of Education Being so Opaque on Student Loans?

    puzzled looking little boy looking to the left

    Over the past few months I’ve attempted to gets statistics, facts, and figures from the Department of Education to better understand the performance of their income based repayment programs and get better clarity on their collection process for delinquent student loans. After multiple Freedom of Information Act requests the results are less than optimal. To my request for payment performance ... Read More »

      I’m Drowning in Student Loans Over My Head. – Thomas

      Drowning swimmer

      “Dear Steve, I have a huge student loan debt that I can’t seem to make head way on. I have a $100,000 is federal loans that have been consolidated with Direct loans and are now with Sallie Mae and $15,000 in private loans. My private loans i can handle making $124 a month payments. My federal is what is killing ... Read More »

        Interest Rates on Federal Student Loans to Double

        student loan debt

        Photo Credit: Bark Interest rates on federal student loans will double unless Congress takes action by this summer to keep the low rates in place. Currently federal student loans pay 3.4% interest but that rate is set to expire this summer. So unless Congress takes action to keep the rates low they will revert back to the old rate of ... Read More »

          I’d Like to Consolidate My Federal Student Loan, Private Student Loan and Credit Card Debt Into One Debt Consolidation Loan. – Jane

          Ready to Collapse

          “Dear Steve, My husband & I have been married 6 years and have two children. One of us has been in school the entire time until he graduated a few months ago. He has a well-paying job now and I’m self-employed. We have a decent income for where we live, but now with the school loans needing to be payed ... Read More »

            Can I Legally Do Anything to Eliminate Some of My Crushing Student Loan Balance? – Mark

            Ready to Collapse

            “Dear Steve, I borrowed around fifteen thousand dollars at eight percent in federal student loans to help pay for college. Four thousand was unsubsidized. That was many years back. I have been working as a substitute teacher, but only earn barely enough to survive. Sometimes I don’t even get calls to work. I have state unemployment insurance that helps me ... Read More »

              Alex is Buried in Student Loan Payments

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              “Dear Steve, I have Federal Student loans dating back to ’94/95. My situation was unusual. I first attended MBA school and left after a semester because I also got accepted to Law School at a different university. I went to Law School for a year and a half only to realize it wasn’t what I wanted to do so I ... Read More »

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