Home > Tag Archives: income based repayment

Tag Archives: income based repayment

Obama Proposes Tax Help for Student Loan Relief. Congress Says No.

2017 Budget

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 now, students are enrolling in income driven repayment programs to reduce their current monthly payments to a level based on their income. After ... Read More »

    Is Income Based Student Loan Forgiveness a Real Reality?

    The American flag hangs proudly with a blue sky background on Main Street in Hometown America.

    Question: Dear Steve, After 12 years of schooling to obtain a doctorate in veterinary medicine as well as a masters in public health, I managed to accumulate over $300,000 in students loans by the time I graduated in 2009. Following a 1-year internship where I needed to defer the loans, this increased even higher. Consequently, I have had to transition ... Read More »

      I’m a Single Mom and Struggling with Student Loans and Childcare

      broken piggybank with dollar notes

      Question: Dear Steve, I am a single mom of two and I have about 67k in student loan debt. I cannot afford to pay my student loans after trying to work 2 and 3 jobs just to take care of my children. I don’t have anyone to help me. The payments are high, even with the income based repayment plan. ... Read More »

        There’s a Catch to Income-Based Repayment That Could Cost You Money

        Thinking

        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 the same. Federal student loans have a number of repayment options while private student loans tend to be more limited in terms of ... Read More »

          Have We Already Solved the Student Debt Crisis?

          Student Loans Concept

          In a recent article in the New York Times, “A Quiet Revolution in Helping Lift the Burden of Student Debt,” Kevin Carey posits that the market dominance of federal student loans combined with income-driven repayment plans has solved student debt crisis. It’s an intriguing and optimistic thesis. Unfortunately, in the course of an otherwise thoughtful article, Carey commits the all ... Read More »

            Why Income Based Student Loan Payments Can Be a Terrible Trap

            danger

            What Student Loan Assistance Companies Are Not Telling You With the surge in companies that are selling student loan assistance programs it seems their product is most commonly just filling out paperwork to enroll people in income driven repayment programs for federal student loans. It’s an easy sale, “We Can Lower Your Payment,” is a powerful message that resonates with ... Read More »

              Obama Pay As You Earn Student Loan Forgiveness Program Details

              past due

              The final rules and guidelines were released yesterday that can finally give us some guidance on a government student loan repayment program that can make it easier for many people. The Pay As You Earn program will provide much needed relief to more people that are drowning under a trillion dollars of student loan debt. The only downside here is ... Read More »

                My Student Loan is Almost 30 Years Old and I’m In Collections. – Dawn

                Ready to Collapse

                “Dear Steve, I currently have a student loan that is 27 years old. I was 17 years old when I was offerred this loan, and really unaware of the rate of interest, penalties, etc. I divorced from my husband at the age of 19 (due to the fact that he was physically abusive), and in the divorce decree, it was ... Read More »

                  I Work as a Correctional Officer With Loads of Student Loan Debt. – Lynn

                  Ready to Collapse

                  “Dear Steve, I enrolled in college and the student loan money was easy to get. Now the money is due and we are being crushed by the payments of the student loans. I have close to 70k in student loans and my income is not going to be substantially impacted by my degree. We put our credit cards with a ... Read More »

                    I’m Willing to Co-Sign a Loan to Help Out My Guy. – Lou

                    Ready to Collapse

                    Lou “Dear Steve, Asking for my guy. He’s currently about $50,000 in debt between his student loan, car loan, and using his credit card to pay bills while he was out of work. The card is a bit over $6k, car is between $10 and 11k, and the student loan is around $34k. He currently makes about $30,000 a year ... Read More »

                      I’m in Debt to the IRS and Student Loans Only. What Can I Do? – Veronica

                      Ready to Collapse

                      Veronica “Dear Steve, Gawd I hate being in this situation, but I am 45 years old and almost $70,000 in debt. Most of it is from student loans, IRS, and other loans. No credit cards. I’ve heard that you cannot file bankruptcy with IRS or Student Loans debt. Was wondering if this is true. If so, what other options should ... Read More »

                        We Are Spending Down Our Savings Trying to Make Ends Meet. – Patch

                        Ready to Collapse

                        Patch “Dear Steve, My husband and I have alot of debt due to my student loans that are almost 100,000, and then of course we have a mortgage, car payments and the household bills. I feel like we are drowning and our savings is dwindling down fast. How can we get this under control before we are totally broke? Patch” ... Read More »

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