Home > Tag Archives: income contingent repayment

Tag Archives: income contingent repayment

I’m Taking the Tax Benefit for My Father’s Parent Plus Loan

Student Loan installment payment check paying back money owed in obligation for borrowed funding for college or university education

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 am paying I consolidated all of my loans as much as I could and opted for the lowest monthly payments possible. I pay ... Read More »

    I’m a Teacher. How Can I Lower My PLUS Loan Payment?

    Decision time

    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. 1. Does filing separately exclude my wife’s income from consideration in an IBR? When I started with fedloan.gov my payments were $0, but ... Read More »

      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 »

          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 »

            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 »

                “I Have Three Degrees But I’m Broke And Miserable”

                Ready to Collapse

                Theresa “Dear Steve, I have $75,000 in school loans and I have one job bringing in $360 per week after taxes and another job where I make $150 per week after taxes. My car payment is $251, rent is $600, utilities are $130, Food is $80, and water is $45. I have a 401(k) with $6,000. Help me. I feel ... Read More »

                  Tiffany is Behind in Student Loans, Late On Other Payments, And Looking For Hope

                  Tiffany “Dear Steve, I’m a 23 year old college student and I owe around $40,000 in student loans, as well as having $8,000 in credit card debt. I was laid off for two years and just going to school (the debt obviously accumulated) and I just started working again for less money. I have been late on all my payments ... Read More »

                    I’m Buried in Student Loan Debt and not Even Finished with School. – Levi

                    Ready to Collapse

                    Levi “Dear Steve, I am finishing school right now after taking a two year hiatus. The problem is that I already have 60k in student loan debt and I am going to be pushing 75k by the time I am done. With the current crisis in our economy noone is refinancing or taking on loan consolidations. What am I supposed ... Read More »

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