income based repayment

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  Mike Meru Racked Up $1 Million in Student Loans to Go to Dental School

  Perhaps you read Josh Mitchell’s story in the Wall Street Journal about Mike Meru, who took out $600,000 in student loans to go to dental school at University of Southern California. Due to fees and accrued interest,...

  • Posted May 29, 2018
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  Are Income Driven Repayment Plans a Scam for Federal Student Loans?

  Question: Dear Steve, Hey there. I’m eligible for Income based student loan repayment of $0, but I can’t find anything that actually tells me what that means when I’m not paying any money towards the loans. Right...

  • Posted December 4, 2017
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  I Made a Mistake and Filed a Joint Tax Return and My IBR Payment is Going to Go Up

  Question: Dear Steve, I have a school loan that seems to have doubled and right now I owe almost $69,000. I have been enrolled in the IBR plan and also work for a school district so I...

  • Posted July 24, 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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  Will the IBR Student Loan Payment Would Hurt My Credit? – Cristina

  Question: Dear Steve, I have a student loan that I accrued out of college at $55,000. Well since the 9/11 and following I became a single mom in 2005 and have been experiencing financial hardship although I...

  • Posted September 14, 2016
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  Navient Feels Like a Modern Day Mafia to Us

  Question: Dear Steve, Took out Federally backed Student loans with Sallie Mae 20 years ago after a divorce. Had to use deferments due to job losses and health issues. Borrowed around $75,000 for three degrees. Due to...

  • Posted July 28, 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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  Is Income Based Student Loan Forgiveness a Real Reality?

  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...

  • Posted February 2, 2016
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  I’m a Single Mom and Struggling with Student Loans and Childcare

  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...

  • Posted December 3, 2015
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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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  Have We Already Solved the Student Debt Crisis?

  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...

  • Posted February 25, 2015
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  Why Income Based Student Loan Payments Can Be a Terrible Trap

  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...

  • Posted February 20, 2015
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  Obama Pay As You Earn Student Loan Forgiveness Program Details

  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...

  • Posted November 2, 2012
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• My Student Loan is Almost 30 Years Old and I’m In Collections. – Dawn

  “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...

  • Posted May 17, 2012
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• I Work as a Correctional Officer With Loads of Student Loan Debt. – Lynn

  “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...

  • Posted October 12, 2010
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• I’m Willing to Co-Sign a Loan to Help Out My Guy. – Lou

  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...

  • Posted April 6, 2010
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• I’m in Debt to the IRS and Student Loans Only. What Can I Do? – Veronica

  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...

  • Posted December 22, 2009
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• We Are Spending Down Our Savings Trying to Make Ends Meet. – Patch

  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...

  • Posted June 26, 2009
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