Student Loan Assistance Companies on Notice Now for Inflating Repayment Plans to Get $0 Payments

A long implemented trick by some student loan assistance companies has been to tell consumers they can inflate the number of people they support in order to reduce the monthly payment on Income-Drive Repayment (IDR) Plans. Consumers have reported and I’ve covered stories where sales representatives of student loan assistance companies, sometimes pretending to be … Read more

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 Plan, IBR, Income Contingent Repayment Plan, ICR, or Income Sensitive Repayment Plan. For Direct Loans there is also … Read more

New Obama Student Loan Proposal – Swing and a Miss

Yesterday President Obama made an announcement that a good federal student loan repayment program would be expanded to allow up to five million more people to take advantage of Pay As You Earn (PAYE). Certainly on face value it seems like a grand advancement and it is a small step in the right direction but … Read more

I’m an Optometrist Trying to Eliminate My Student Loans. – Jennifer

“Dear Steve, Optometrist graduated in 1996, consolidated student loan debt with Sallie Mae shortly there after, HEAL loan at 9% interest fixed, other loan 4% Stafford? Been paying over 17 years on debt and am current. Also have about $30,000 in credit card debt unable to bring down, husband has about $30,000 as well. What … Read more

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 provide much needed relief to more people that are drowning under a trillion dollars of student loan debt. … Read more