Home > Tag Archives: private student loans

Tag Archives: private student loans

Did the Private Student Loans Vanish Under the Statute of Limitations?

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Question: Dear Steve, My husband has some private student loans which were taken out in 2002 and his mother cosigned on them. She has made payments at some point on this loan, although I have no idea when or how much. It has now grown to $101,000. Living in Florida, I am familiar with the statute of limitations law. In ... Read More »

    I Don’t Want to Pay My Private Student Loans Anymore

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    Question: Dear Steve, Graduated 2011 from Houghton College. Lives in DC. Paying $600 a month for student loans. Read your article about the ten reasons to stop paying private student loans. I’m to a point where I don’t want to pay and its killing me. I’m still living with my parents because I cannot afford to move to a apartment ... Read More »

      My Life Didn’t Turn Out Like My Student Loans Wanted

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      Question: Dear Steve, I attended a private college and felt super confident I’d have no issues finding a job after college with an AA, because of everything I was told at the school. I had a difficult time finding a job, I had to return to my old job, which had NOTHING to do with my degree. I then learned ... Read More »

        Can My Son File Bankruptcy on His Tribeca Flashpoint Media Arts Academy Loans?

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        Question: Dear Steve, My son graduated from Tribeca Flashpoint Media Arts Academy in Chicago, IL. He has $59,000 in loans through Sallie Mae with interest rates that range from 8.25% to 10.375%. I believe you call these private or unsubsidized loans. Sallie Mae won’t issue us a 1098E so he can claim the interest paid each year for taxes. We ... Read More »

          Is There a Private Student Loan Consolidation Program to Lower My Interest? – Adam

          Decision time

          Question: Dear Steve, I have about 96,000 in PRIVATE student loan debt. I got off to a rough start with payments when I graduated in 2011 but since late 2012 I have been paying faithfully and haven’t made a dent in the balance. I have written numerous times to Wells Fargo, Navient (first Sallie Mae) and AES (previously Chase) to ... Read More »

            Why Defaulting on Private Student Loans is Not as Crazy or Irresponsible as it Sounds

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            Not long ago I answered a reader question and suggested they consider stopping payment on their cosigned private student loan in the face of no other better solution. You can see that reader Q&A here. In response to that post I received some feedback which is not unusual from people who don’t understand the complexity of the student loan crisis ... Read More »

              What Are The Best Private Student Loans?

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              Question: Dear Steve, I am a current junior at a university. I still have a ways to go before I complete my Bachelor Degree. I have no desire to go any further than a Bachelors. This is my second semester at university and there is not very much left over of my grant and loans after tuition. I would like ... Read More »

                There is No Way I Can Ever Afford My Private Student Loans. What Can I Do?

                Question: Dear Steve, I have a total student loan debt of $140,000. Out of that total amount, about $131,000 is Private Student Loans. I have a bachelor’s degree that I received in 2012. I have been working since the day I graduated making decent money, but not enough to live on my own and afford my minimum private student loan ... Read More »

                  Can I Just Pay What I Can Afford on My Private Student Loans?

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                  Question: Dear Steve, So I have private loans and a few federal loans my month payment currently is for all my loans is about $1000. My employer has been helpful by letting me work OT to make this happen. Currently working 12 hours of OT a week. But that is about to end, they are working on eliminating OT for ... Read More »

                    Can I Just Let My Private Student Loans Expire and Say Goodbye?

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                    Question: Dear Steve, I owe 104K in private loans. I think I have 8. One of the loans has a cosigner. If I quit paying my loans and still continue to pay the one with the cosigner. I am to the point where I can’t afford to live. I have a good job but can’t get ahead. Is it possible ... Read More »

                      Should I Stop Paying My Private Student Loans Now?

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                      Question: Dear Steve, I graduated in 2006 with over $50k in private student loans. After I graduated, Citi wanted $400/month. Unable to make the payments, I went on years of deferment and forbearance as my loan was bought and sold by several banks and lenders. My loan reached a max of $110,000. I am now 10 years removed from college, ... Read More »

                        Discover Bank Screwed Over Student Loan Holders Says CFPB

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                        Today the Consumer Financial Protection Bureau (CFPB) took action against Discover Bank and its affiliates for illegal private student loan servicing practices. The CFPB found that Discover overstated the minimum amounts due on billing statements and denied consumers information they needed to obtain federal income tax benefits. The company also engaged in illegal debt collection tactics, including calling consumers early ... Read More »

                          90 Percent of Private Student Loan Borrowers Who Applied for Co-Signer Release Were Rejected

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                          Today the Consumer Financial Protection Bureau (CFPB) Student Loan Ombudsman released a report finding high rates of consumers are being rejected for co-signer release on their private student loans, based on its review of industry practices. The Bureau uncovered problematic industry practices that may be disqualifying some consumers from securing a co-signer’s release from their loans. When student borrowers and ... Read More »

                            Can You Discharge Private Student Loans in Bankruptcy?

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                            There’s a big misconception that private student loans can never be discharged in bankruptcy. People have repeated that statement so often they believe it to be a fact. The only problem is it’s not quite true. Some private student loans are clearly eligible to be wiped away in a consumer bankruptcy. Even in a Chapter 7 bankruptcy, it takes only ... Read More »

                              Legislation Would Require Private Student Loans Be Forgiven If Borrower Dies

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                              (Jeff) Shortly after the death of their daughter, a New York couple’s grief was interrupted by a battle with an entity they never imagined: her private student loan lender. Inheriting a dead child’s student loan debt is a problem too many parents have had to face, and one that a new piece of legislation aims to eliminate. New York Senator Chuck ... Read More »

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