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What is a Reasonable Debt Settlement Offer for Federal Student Loans?

Question: Dear Steve, I have a student loan debt (30K) from 1983-1988. I consolidated in 2000 and now the total is almost $90K. What would be a reasonable offer-in-compromise? And, who would I be in touch with? These are federal loans. Thanks. What is considered a reasonable offer-in-compromise? Who decides this? Jonie Answer: Dear Jonie, …

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Can I Settle My Pace University Signature Student Loans for Less Than I Owe?

Question: Dear Steve, I graduated from Pace University in 2008 with $104k in student loan debt. The majority of this debt was secured through Signature Student Loans ($87k) with Sallie Mae and then a small debt through Federal Direct Stafford Loans ($17k). I grew up in a single parent home, my mom barely making ends …

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Should I Settle My Student Loans or Increase My Mortgage Down Payment?

Question: Dear Steve, I have a good bit of student loan debt and would like to get a mortgage, so I’m torn between down payment and settling loan debt. I have federal and private loans with Navient, around $129,000 worth, with IBR taking care of about $90k of the federal ($0 a month owed for …

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I Have a Younomics Student Loan I’ve Never Paid On and Want to Settle – Amber

Question: Dear Steve, I have a private student loan (originally My Rich Uncle, now called Younomics) that I took in 2007 for $6,000. I never made a payment and the loan is now close to $20,000. I would like to settle as I don’t want to wait another three to four years for this to …

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I Have Never Made a Payment on My Student Loans and I Just Got a Settlement Offer – Jason

Question: Dear Steve, I went to ITT Tech back in 2004 but never completed the course as I became disabled before completing the course. I have never made a payment on the loans and have good credit even with the defaulted loans listed on my credit. I have now been receiving letters from a company …

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