I can help with your Student Loan(s)

[RobEvans]

To my knowledge there has been no mention of not being able to deduct the interest from your taxes. Do you have any articles to support that? I will be looking into this more this week. Remind me to follow up if I do not do so by Friday

 

http://taxes.about.com/od/deductionscredits/qt/studentloanint.htm

 

"The deduction for student loan interest will continue to be available to every person who is legally obligated to repay a student loan through the year 2012. Starting with the year 2013, the deduction will revert to an older law in which student loan interest will be deductible only for the first 60 months of repayment."

[SloanHelper]

You are in the exact situation of people I was looking for on here. I can really help you out with this. If you will contact me via E-mail I would love to discuss with you all of your options and what we can do as far 1) saving you money 2) making sure to get your credit straightened out, and in a timely fashion. I urge you to take this opportunity to e-mail me.

SloanHelper@gmail.com

TBH, this sounds pretty shady. Almost like a CA that is preying on defaulted student loan borrowers....

 

I have already told you I work for the department of Ed. I am not going to give out exact percentages, policies or procedures to anyone but knowing their amounts I am able to assist them with what is a good deal and what is not. Take it for what it is worth. I came here to help people that wanted help. For those that do, terrific I am here, for those that dont, I need need post like this on my thread. "a CA that is preying on defaulted student loan borrowers", I bet they hide under your bed at night also. I am almost upset I even responded to this

[SloanHelper]

To my knowledge there has been no mention of not being able to deduct the interest from your taxes. Do you have any articles to support that? I will be looking into this more this week. Remind me to follow up if I do not do so by Friday

 

http://taxes.about.c...dentloanint.htm

 

"The deduction for student loan interest will continue to be available to every person who is legally obligated to repay a student loan through the year 2012. Starting with the year 2013, the deduction will revert to an older law in which student loan interest will be deductible only for the first 60 months of repayment."

 

 

I will have some answers for you by friday

[missriss]

Can I say I am so upset with Dept of Education right now. I filed BK7 in May of 2011, my loans with DOE were in deferrment at the time. Fast forward to February. I received a billing statement in the amount of $1970.00 indicating pay by 2-21-12 the past due amount. Called immediately and spoke to someone who indicated that payments were due beginning October, but they couldn't send out billing statements due to BK not being discharged. I was advised that I could due a forbearance for the past due amount and they could defer payments while loan consolidation was pending. Great. Then advised forbearance couldn't be processed due to technical issue with conversion, and they would email tech support to get the account taken care of and brought current. Called several days later, still nothing was done....waiting for tech support. I called again on 2-14-12 and told still wasn't done, AND account was reported to Credit Bureaus. What? I was advised they would contact the correct department to be certain account was updated to show current. OK. Today, I receive an alert indicating all 6 of my loans were reported delinquent. I called today, and now they are sending an expedited request to update credit bureau to current as they shouldn't have reported it delinquent due to BK and that I rec'd billing statement in February, however it may take a month to update! Spoke to supervision, and explained I am trying to finance a vehicle and this needs to be taken care of immediately. Told, nothing they can do but wait for the correct department to review and submit to credit bureaus to update and to call back in a week or so!

 

Wow! YOu can't report me delinquent, I had a pending BK. But, you report me delinquent 120 days after disharge? How can you do that? They admit it was an error, but nothing can be done to correct this issues immediately.

 

Can you help me?

[StudentSam]

ive got nothing to hide. I want to get this stuff rehabbed and done with. This is a nightmare

[Cosmos Human]

To my knowledge there has been no mention of not being able to deduct the interest from your taxes. Do you have any articles to support that? I will be looking into this more this week. Remind me to follow up if I do not do so by Friday

 

http://taxes.about.c...dentloanint.htm

 

"The deduction for student loan interest will continue to be available to every person who is legally obligated to repay a student loan through the year 2012. Starting with the year 2013, the deduction will revert to an older law in which student loan interest will be deductible only for the first 60 months of repayment."

 

 

I will have some answers for you by friday

 

When did this get through congress? They really are screwing with us! I guess when I finally graduate I'll have to consolidate everything. This really sucks!

[EnC_Plus3]

Hi SloanHelper,

 

I have a student loan that defaulted several years ago. My taxes were offset to pay on the loans and now the balances are too low for any rehab or consolidation program. I'm prepared to pay the balances off but I'm curious if you know if there is anything I can do or ask about to have these removed from my reports. It was one loan but funding by 3 loans, 1 is paid completely $0 balance, 1 has a $74 balance and the final one has a $42 balance. The loans originated in 9/1997, offsets were in 2008 and 2009. I'd be happy to do a rehab program if things have changed and they now offer one for such a small balance $12.88 a month for 9 months? Anyway, if you have any information that may help me I'd really appreciate it.

[Guest KristofsMom]

Something I've always wanted to know....

 

If someone rehabs their student loan then defaults on them again (for example sickness, military, divorce) Is there a way they can rehab the student loans again?

 

If so, what are the proper steps?

[EnC_Plus3]

I'm not sure, but I had my loans in forbearance, consolidation, etc and I was able to rehab even after 2 tax return offsets. I called the Direct Loans and the woman I spoke with give me all my options. I wasn't looking forward to the call to begin with, but it ended up being great news and now I'm doing $5 payments for 9 months. I think the student loan people have heard it all and probably have options for virtually everyone. Hope that helps

[SloanHelper]

Everyone, I am very sorry for my abscense. I became extremly busy. However I am back. I briefly went though some of the questions

 

 

 

Yes you can use your payments on interest for your taxes

 

 

You cannot do the rehab program unless at the end of the program you will have at lest $300 left. With that low of balance, just pay it and stop accrucing interest. Get a settlement/compromise if you want

 

 

There is a new program coming out beyond the Rehab program that will benefit a lot of you.

 

I am sorry again for being gone. I recieved a promotion, so I was pre-occupied with that. Please continue to post and ask questions. And of course you can always Email me at SLoanHelper@gmail.com

 

P.S. to anyone that had a question that I never got to, forgot, or skipped over I apologize if you still need help please re post or email.. I will be more dilligent now that everything has calmed down

[SloanHelper]

If someone gets out of deault, then goes back in, they become PDE (previously defaulted) they canot rehab their loan again, for quit some time

[EnC_Plus3]

Are you positive about not being able to rehab w/less than $300 balance? I called Direct Loans the other day and was told that I qualified, my balance between the 2 loans is $116.00. The woman I spoke with put me on $5.00 payments each month for 9 months leaving a $71 balance at the end. I was told that as long as each of the payments are made on time and the balance either paid or a payment plan arranged after the 9 months it would go from default to paid as agreed (no longer in default or as a collection).

[SloanHelper]

Are you positive about not being able to rehab w/less than $300 balance? I called Direct Loans the other day and was told that I qualified, my balance between the 2 loans is $116.00. The woman I spoke with put me on $5.00 payments each month for 9 months leaving a $71 balance at the end. I was told that as long as each of the payments are made on time and the balance either paid or a payment plan arranged after the 9 months it would go from default to paid as agreed (no longer in default or as a collection).

 

 

Yeah, you are doing an R&A program.....or the lady you spoke with was new and messed up...but i am pretty sure it is the first one

[gogogophers]

Hi SloanHelper,

 

Thank you so much for volunteering your knowledge and experience to help people with their student loan questions. It is very much appreciated.

 

Next summer I plan to apply for a total and permanent disability discharge of about $14k in remaining student loans. The loans are in good standing with no history of payment problems. I figure if I wait to apply until after 60 months from the onset of the disability I might have a better chance at a smooth and (hopefully) speedy review. There's no reason why my medical doctor wouldn't be able to confirm the 60 month history or the fact that the condition will continue indefinitely so I don't anticipate any problems with the paperwork. I also believe there will be no problems with the three year monitoring period. For 60 months, I'm reaching back to the date when I first lost employment because of the disability which is earlier than the SSA determined for the start of SSDI benefits, so that might be a bit iffy (not sure).

 

Would you be able to share any insight or suggestions for the TPD application/review process? I'm pretty nervous about what to expect. Is there anything I can do to help it go as smoothly as possible? Also, I saw somewhere that if the loans are discharged I might be eligible for a refund of the payments made in the 60 months during which I was disabled. Do you know if that is true and if I need to fill out additional paperwork for that consideration?

 

Any info you can share is really appreciated. Thanks in advance.

[Guest KristofsMom]

There is a new program coming out beyond the Rehab program that will benefit a lot of you. Can You please explain more in detail of this?

[Guest KristofsMom]

If someone gets out of deault, then goes back in, they become PDE (previously defaulted) they canot rehab their loan again, for quit some time

 

 

WOW... how would that work and how long would they have to wait? What type of program is that called?

[snowpuppy]

If someone gets out of deault, then goes back in, they become PDE (previously defaulted) they canot rehab their loan again, for quit some time

 

 

WOW... how would that work and how long would they have to wait? What type of program is that called?

 

I would say give it a shot anyway if you are back in default. Perkins only allows Rehab once. Dept of Ed is one Hot Mess right now that I think they would try to give you a solution.

[SloanHelper]

If someone gets out of deault, then goes back in, they become PDE (previously defaulted) they canot rehab their loan again, for quit some time

 

 

WOW... how would that work and how long would they have to wait? What type of program is that called?

 

 

As of this point in all the contracts , if someone rehabed their loans after 08/14/2008 they are not allowed to rehab their loan again....obviously prior to that date if they rehabed and fell back into default they are able to rehab again.

[SloanHelper]

There is a new program coming out beyond the Rehab program that will benefit a lot of you. Can You please explain more in detail of this?

 

 

The program may or may not be offered to people at this point. The program is called the R&A program (Reasonable and affordable). In some cases people will need to show proof of certain bills and in somecases they will not. Almost like luck of the draw. I will have no problem explaining this program once it has been rolled out 100% too all agencies and is in effect for every person. I do not want to explain the program though and get peoples hopes up who will not qualfiy or do not have the program offered yet. If you would like to know if you qualify or if you can be offered the program yet, you can email me at sloanhelper@gmail.com

[SloanHelper]

Hi SloanHelper,

 

Thank you so much for volunteering your knowledge and experience to help people with their student loan questions. It is very much appreciated.

 

Next summer I plan to apply for a total and permanent disability discharge of about $14k in remaining student loans. The loans are in good standing with no history of payment problems. I figure if I wait to apply until after 60 months from the onset of the disability I might have a better chance at a smooth and (hopefully) speedy review. There's no reason why my medical doctor wouldn't be able to confirm the 60 month history or the fact that the condition will continue indefinitely so I don't anticipate any problems with the paperwork. I also believe there will be no problems with the three year monitoring period. For 60 months, I'm reaching back to the date when I first lost employment because of the disability which is earlier than the SSA determined for the start of SSDI benefits, so that might be a bit iffy (not sure).

 

Would you be able to share any insight or suggestions for the TPD application/review process? I'm pretty nervous about what to expect. Is there anything I can do to help it go as smoothly as possible? Also, I saw somewhere that if the loans are discharged I might be eligible for a refund of the payments made in the 60 months during which I was disabled. Do you know if that is true and if I need to fill out additional paperwork for that consideration?

 

Any info you can share is really appreciated. Thanks in advance.

 

For a loan discharge under disability you must be 100% disabled, never able to work again. You must have your physician sign off on that paperwork. If any paperwork is not filled out or filled out incorrectly then it will be denied. If someone goes back to school after the loans are discharged they wil be reinstated. If someone goes back to work after the loans are discharged they wil be reinstated. The dissabiltiy has to have come into play after recieving the loan, in other words it cannot be a pre-exisitng condition. I personally have helped a man discharge $200,000 worth of student loans. Best advice is properly fill out paperwork, if you have questions call and ask, make sure the paperowkr is back in a timely fashion, stay in CONSTANT CONTACT, and answer your phone or call back if you recieve one. They must know dates pof paperowkr and Dr appointments etc. It is the most touchy way of dealing with a loan for obviouis reasons, the money is being discharged. Beyond that it takes time and patients. It is a realtively easy processs as long as you take it step by step correctly, and follow directions. If you try to avoid it or act as if it is not really a big deal with dates and deadlines then you will most likely be dissapointed at the outcome.

[snowpuppy]

Dude, so let me ask......... because you're out on the My Fico forums as well:

 

Are you a Fed contractor for an authorized Dept of Ed collection agency? Especially since you say your 'specialty' is loans in default. The Dept of Ed hasn't hired anyone directly in more than a year and you say you've only done this work for a year. Only the servicers have hired contractors.

 

That said, Fed employees and contractors are prohibited by the Feds from stating who they work for and what they do in public bulletin board forums.

 

If you are a legit employee, why not just give them your email at your work address or your 800# at the Dept of Ed?

[SloanHelper]

Dude, so let me ask......... because you're out on the My Fico forums as well:

 

Are you a Fed contractor for an authorized Dept of Ed collection agency? Especially since you say your 'specialty' is loans in default. The Dept of Ed hasn't hired anyone directly in more than a year and you say you've only done this work for a year. Only the servicers have hired contractors.

 

That said, Fed employees and contractors are prohibited by the Feds from stating who they work for and what they do in public bulletin board forums.

 

If you are a legit employee, why not just give them your email at your work address or your 800# at the Dept of Ed?

 

Thank for reminding of the Fico Forum, I could not remember some of the forums I was trying to help on.

 

I believe you missed the part of me getting someone's loans discharged through disability for $200,000. Does that sound like a collection agency to you? The dept of Ed has not hired anyone in more than a year?

I have been working for them for year and a half now, that is neither here nor there. I would love to know where you are getting your facts about not hiring someone for a year, I hate to use text talk, but that one made me LOL a little bit.

Supervisory Education Program Specialist, GS-1720-15 (DEU)

Vacancy Ann.#: OESE-2012-0021Who May Apply: PublicPay Plan: GS-1720-15/15Appointment Term: PermanentJob Status: Full-TimeOpening Date: 07/20/2012Salary: From 123,758.00 to 155,500.00 USD per year

Program Support Assistant (OA), GS-0303-07 (ALL SOURCES)

Vacancy Ann.#: FSA-2012-0146Who May Apply: PublicPay Plan: GS-0303-07/07Appointment Term: PermanentJob Status: Full-TimeOpening Date: 07/24/2012Salary: From 41,390.00 to 53,811.00 USD per yearStatistician (Education), GS-1530-13 (DEU)

Vacancy Ann.#: IES-2012-0034Who May Apply: PublicPay Plan: GS-1530-13/13Appointment Term: PermanentJob Status: Full-TimeOpening Date: 07/27/2012Salary: From 89,033.00 to 115,742.00 USD per yearDirector, Human Capital and Client Services

Vacancy Ann.#: SES-OM-2012-0008Who May Apply: PublicPay Plan: ES-0201-00/00Appointment Term: PermanentJob Status: Full-TimeOpening Date: 07/19/2012Salary: From 119,554.00 to 179,700.00 USD per yea

Associate Research Scientist/Specialist, AD-1730-00

Vacancy Ann.#: IES-2012-0002Who May Apply: PublicPay Plan: AD-1730-00/00Appointment Term: PermanentJob Status: Full-TimeOpening Date: 12/23/2011Salary: From 60,000.00 to 95,000.00 USD per year

Research Scientist/Specialist, AD-1730-00

Vacancy Ann.#: IES-2012-0004Who May Apply: PublicPay Plan: AD-1730-00/00Appointment Term: PermanentJob Status: Full-TimeOpening Date: 01/04/2012Salary: From 85,000.00 to 130,000.00 USD per year

 

Just a few of the openings listed on the DOE website......

 

Why don't I give out my work # so everyone on this site can call me?? Well here is the answer, I know my job (probably a bit better then you do ), so I know which department I am in etc etc and what I can or canot do, so why would I want a bunch of people calling me that I would then have to inform them that they need to contact their CA, or that I need to transfer them?

 

Why don't you let the big girls and boys talk and you run along with your whimsical fairytale!!! Yeah Fed employees cant let ANYONE know who they work for. That is why the NSA has their parking lots underground and no one has ever seen an FBI agent with their jacket on. Stop watching Mr. and Mrs. Smith and like I said before I am here for people that actually have a questions and want legitimate help. Guess what they do not have to follow my advice or believe me....So I will say it again, if you are wanting to debate the DOE and their policies or have negative things to say, it is probably better for everyone and their time if you kindly just keep those thoughts inside your own head.

 

But to answer your original question, I am not a FED employee or a collector, I am Count Chocula, by day and a Ghost Buster by night.

[Guest KristofsMom]

If someone gets out of deault, then goes back in, they become PDE (previously defaulted) they canot rehab their loan again, for quit some time

 

 

WOW... how would that work and how long would they have to wait? What type of program is that called?

 

 

As of this point in all the contracts , if someone rehabed their loans after 08/14/2008 they are not allowed to rehab their loan again....obviously prior to that date if they rehabed and fell back into default they are able to rehab again.

 

 

What type of program is this called that LETS someone rehab for a student loan for second time befe 8/14/2008?

[Cosmos Human]

I thank you for your assistance in this forum. I have a question and want to know if what I have heard is true or not.

 

When I graduate and I will have amassed a lot of student loans, and all will be federal; not private. I will apply for the IBR plan. It is based on income and I am a single person. If my income is too low I could be given a low repayment per month. How exactly is it figured? Is it a combination of income and amount owed or just income? What about a distribution from a 401k or 403b, IRA?

 

I work in the non-profit sector so I am aware of the 10 year program. If I should lose my job and have to take something to survive, then are loans cancelled after 25 years? Is the amount cancelled or forgiven then results in a 1099 and I would have to pay taxes? What then is the advantage if I'll be held to pay taxes?

 

Is a "zero" IBR payment considered a payment? Is social security, SSI, or SSDI considered income?

 

Thank you.

[pleasehelpme2012]

There is a new program coming out beyond the Rehab program that will benefit a lot of you. Can You please explain more in detail of this?

"There is a new program coming out beyond the Rehab program that will benefit a lot of you. "

 

 

I called Sallie Mae and they had no clue what I was talking about when I asked if I could rehab a loan, and make payments for 9 to 12 months. Also is it best to consolidate or rehab a loan(s)