Income contingent: Three questions

[fixitmister]

Filling out my consolidation application online for 23 year old loan now in default:

 

1. How do I calculate my AGI? Is it the last number on the first page of last year's tax return?

2. In using the online calculator is the percentage rate I currently have the ones listed on the NDSL site? (i.e., 7%?)

3. Is income contingent the only option for deffaulted loan consolidation?

 

Thanks in advance for any answers you can provide!

 

PS -- The ECMC rep I was terrified of speaking with turned out to be very compassionate-- I want to reciprocate by getting this form filled out ASAP.

[ziggypop]

Filling out my consolidation application online for 23 year old loan now in default:

 

1. How do I calculate my AGI? Is it the last number on the first page of last year's tax return?

 

I'm not positive on this one (and where it is on your return depends on which form you filled out 1040, 1040A, 1040EZ, Telefile), but I think one of the lines you get to on your tax return is called "Adjusted Gross Income," which is total income minus adjustments.

 

2. In using the online calculator is the percentage rate I currently have the ones listed on the NDSL site? (i.e., 7%?)

 

Yup. That's it.

 

3. Is income contingent the only option for deffaulted loan consolidation?

 

Yes, it is.

 

Thanks in advance for any answers you can provide!

 

PS -- The ECMC rep I was terrified of speaking with turned out to be very compassionate-- I want to reciprocate by getting this form filled out ASAP.

 

Hope this helps!! Good luck!!