ICR

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  Alternative Repayment Plan – The Little Known Federal Student Loan Plan When All Else Fails

  For individuals struggling to repay their federal student loans and think the only repayment options are a Graduated Repayment Plan, Extended Repayment Plan, Revised Pay As You Earn, REPAYE, Pay As You Earn, PAYE, Income Based Repayment...

  • Posted May 30, 2017
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  Bankruptcy Groups Jump In to Support Student Loan Discharge to Avoid Cement Life Preservers

  The National Consumer Bankruptcy Rights Center (NCBRC) and National Association of Consumer Bankruptcy Attorneys (NACBA) have decided to support the bankruptcy discharge in ECMC v. Murray with an outside briefing supporting the effort. The Murray case is...

  • Posted May 2, 2017
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  Income-Driven Repayment Plans for Managing Crushing Levels of Student-Loan Debt: Financial Suicide

  By the end of his first term in office, President Obama knew the federal student loan program was out of control. Default rates were up and millions of student borrowers had put their loans into forbearance or...

  • Posted April 24, 2017
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  Income-Driven Repayment Plans for Distressed Student-Loan Debtors: Not a Silver Bullet for Easing the Student Loan Crisis

  by Richard Fossey & Robert C. Cloud. The federal student loan program is in crisis. More than 40 million Americans now have outstanding student loans totaling almost $1.3 trillion and 8 million borrowers are in default (Cao,...

  • Posted March 3, 2017
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  Income-Driven Repayment Plans for Distressed Student-Loan Debtors are Insane

  In a recent post, I wrote about Alan and Catherine Murray, who won a partial discharge of their student-loan debt in a bankruptcy case decided in December 2016. Educational Credit Management (ECMC), the creditor in their case,...

  • Posted January 30, 2017
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  Should I Take a 401(k) Loan to Payoff My Parent PLUS Student Loans?

  Question: Dear Steve, I have a balance of approx. $35,000 of parent plus loans that I have taken for three children in college. Interest rate is 8.125%. Balance does not move much due to daily interest. Should...

  • Posted January 19, 2017
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  I Just Finished a Chapter 13 Bankruptcy But Have Parent PLUS Student Loans and National Collegiate Student Loan Trust

  Question: Dear Steve, Just got out of Chapter 13 Bankruptcy (finished all five years faithfully). NOW am getting tons of student loan (Parent Plus) for my two kids. I lost my job over a year ago and...

  • Posted November 8, 2016
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  My Parents Have a High Income But Struggling Under the Parent PLUS Payments

  Question: Dear Steve, When going to school for my undergraduate degree, I was denied any federal aid or grants because of my parents’ income being too high. However, they were (and still are) in an extreme amount...

  • Posted July 11, 2016
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  I’m a Retired Teacher and I’d Like to Lower My Parent PLUS Loan Payments

  Question: Dear Steve, I am a retired teacher. I was told that I could consolidate the parent plus loans I have and then get an income contingent repayment plan. 1. Does my credit need to be good...

  • Posted July 6, 2016
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  I’m Taking the Tax Benefit for My Father’s Parent Plus Loan

  Question: Dear Steve, I am in debt for around $100k from going to a private design school in Nebraska. I owe around $20k in Fedloans and $80k in Parent Plus loans that my dad signed for. I...

  • Posted May 19, 2016
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  They Raised My Payment on My Parent Plus Loan Consolidation

  Question: Dear Steve, Around 2002/2003 I took my first of 5, (I believe 5) parent student loans. I am a public servant and some of the loans were private. I applied for the loan forgiveness program and...

  • Posted May 4, 2016
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  I’m a Teacher. How Can I Lower My PLUS Loan Payment?

  Question: Dear Steve, My student loan (originally taken out for my children) is now owned by the government and administered by fedloan.gov. The loan is in my name alone — my wife is not on the loan....

  • Posted March 8, 2016
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  Obama Proposes Tax Help for Student Loan Relief. Congress Says No.

  In the budget the Obama administration has just sent to Congress there are some benefits for students who will face massive tax bills when their student loans might be forgiven under income based programs. As it stands...

  • Posted February 11, 2016
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  There’s a Catch to Income-Based Repayment That Could Cost You Money

  When it comes to dealing with student loans it can be a good news-bad news situation. While there are some good options to dealing with student loans when you can’t afford the payments, not all loans are...

  • Posted March 17, 2015
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