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  1. You will need to check your credit bureau and NSLDS to determine the type of loan this is. Only Federal loans will give you a 6 month grace period after withdrawing or graduating. I don't normally hear of Institutional Loans offering this type of repayment - they usually start billing almost immediately. If this is an institutional debt, you may be able to work with them in correcting the credit reporting by settling the debt for less with the removal of adverse credit or just by paying it full. If this is a Federal Debt, it may be a little bit harder to correct since you are ultimately responsible for keeping the federal loan servicers apprised of any address changes, telephone changes, etc.
  2. Once you exit your bankruptcy proceeding, you should ask your Federal Loan Servicer to set you up on an Income Based Repayment Plan which is based upon your annual AGI and your household size. I assume this is what you're currently doing. Once you have an income based repayment plan in place, you will need to contact your federal loan servicer for the PSLF information and you will need to take the Employment Certification Form to your HR Office to have them validate that you work in an eligible industry which is eligible for PSLF. You will be required to renew this form on an annual basis. Please note that only the months of repayment in an eligible repayment plan will be counted towards PSLF. For more information, please visit StudentAid.gov.
  3. Hello OP, You can only re-consolidate your student loans if your current consolidation loan is under the former Federal Family Education Loan Program or FFELP. You can re-consolidate it into the William D. Ford Federal Director Loan Program (Direct Loan). You cannot reconsolidate a Direct Loan into another Direct Loan - it doesn't work like that. Since you have already used your one available Rehabilitation option, you are stuck paying the collection agency unless you can refinance it by a Private Student Loan Company which may require a co-signor or endorser on the loan in case you default again. I don't have any information about Public Health Loan Forgiveness, that may be a program special to your State or Employer. Good Luck to you!
  4. Technically, he didn't for work for Federal Student Aid. He worked for the Consumer Financial Protection Bureau (CFPB), but he was instrumental in creating some very good consumer friendly policies for student loan holders. His departure from the CFPB is a great loss, especially to those of us in the Financial Aid Industry.
  5. Since the CA is retained by the Community College, you will set-up repayment with the CA as it will be pretty simple.
  6. The tradelines could be removed if he has received Permanent Disability Discharge by the U.S. Department of Education. If he has a Provisional Disability Discharge, then no, the tradelines cannot be removed because there will be follow-up on the Provisional Disability Discharge.
  7. Since this is a private a student loan, the only other option I could recommend is to refinance the debt with another lender and apply for any type of forbearance from them. OR you can contact Sallie Mae to see if they can provide you a waiver until you graduate and they will most likely want verification of your in-school status and an expected graduation date. Good Luck!
  8. Since this is an institutional debt owed, you might be able to settle for less than what is owed; However, since community colleges are funded through the state, the Community College may have turned over this debt to the state so you could be paying the State of Michigan for this debt and the state might not settle for less. You should contact the school to see if this is still an institutional debt or been transferred to a State Debt - if this is a State Debt, they may be able to intercept your State Tax Refund. Good Luck!
  9. If you have adverse credit, you should request an appeal with the U.S. Department of Education and sometime they may override the adverse credit with supporting documentation or offer to have you include a co-borrower to the Graduate Plus Loan. If you are still unable to obtain a Graduate PLUS Loan, you should talk to your Financial Aid Offfice to see what other type of aid may be available to you. Good Luck!
  10. Lynn is absolutely correct. Legal - The US Dept. Of Ed and its assigned collectors can and will Institute an Administrative Wage Garnishment at any time without a Court Order. Theyre that powerful and they can and will intercept both Federal and State Federal Tax Returns and/or Social Security Benefit.
  11. First and foremost, you should contact the servicer of your defaulted student loans and tell them you want to begin repayment on them and that youre interested in Rehabilitation. They will go over your income and expenses and try to come up with a reasonable and affordable repayment plan for you. Good luck!
  12. If you have multiple accounts, it's possible you may have different due dates. Log in to your Nelnet.com account to view your most up-to-date account information. You can anytime to request to align the due dates on all of your loans to a date between the 1st and 28th of each month.
  13. Are these federal or private student loans?
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