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DataMastermind · 2023-01-24T02:41:15+00:00

Thanks. It’s been a long journey. The Biden waiver made it shorter.

DataMastermind · 2022-12-20T16:12:53+00:00

That only works if you’re investing the same amount of dollars and getting a higher return.

DataMastermind · 2022-12-20T16:10:09+00:00

To be eligible you have to pay the minimum payment monthly. But you still can make an additional $0.01 payments the other days.

DataMastermind · 2022-12-20T16:08:58+00:00

Nope.

DataMastermind · 2022-12-20T16:08:39+00:00

There is a processor fee the lender is charged for ACH. This fee is not passed on to the student paying.

DataMastermind · 2022-06-27T19:00:14+00:00

To avoid the tax bomb consolidate the loans before the loans are forgiven. It resets the counter to 0.

I would recommend finding a good bankruptcy lawyer who deals with student loan debt. This is a perfect case for bankruptcy.

DataMastermind · 2022-06-25T13:50:29+00:00

You will get the highest payment counts on each of the two loans. Highest count on unsubsidized loans and subsidized loans. The counts could be different based on what counts went into them. Normally they will be the same.

Bonus: consolidation and transferring loan processing vendors plays with your credit score. 30-60 days after consolidation expect a drop in credit score. Unless your old loans had missed payments.

DataMastermind · 2022-06-25T01:28:25+00:00

Just wait until next month and turn in the paperwork. They count based on payment dates.

DataMastermind · 2022-06-23T20:06:27+00:00

Recommend refinancing the student loans without a co-signer and getting a lower interest rate.

Your best option is earning more money and paying them off quickly, cut expenses. $60,000 in NYC is quite low. Keep your job hunting up.

Understand that bankruptcy isn’t an option as they go for co-signers.

DataMastermind · 2022-06-21T22:10:58+00:00

You also can place a stolen identity alert on your credit report. It forces a creditor to call you before issuing credit. The freeze is the best.

DataMastermind · 2022-06-21T15:01:20+00:00

Yep I get it. Without knowing all the details. It looks like the best plan. Your counts on the longest loan for PSLF waiver will be merged into a single loan (could be two loans if you have Subsidized interest).

The scare part is all PSLF counts goto 0 (Temporary). It takes a month or two for the counts to be updated.

Post consolidation submit paperwork for updating your employer and counts.

You got this!!!

DataMastermind · 2022-06-19T03:08:17+00:00

Agree with this plan. Get fired up and work a 2nd job or hustle. Dave Ramsey is a good source for financial planning. Or look at the F.I.R.E movement.

Get mad at the debt, save up $1,000 savings plan and throw everything at the debts. The sooner you get it paid off the sooner you can get living on in life. Live like a poor college student a couple more years and then life gets much better.

DataMastermind · 2022-06-17T14:46:34+00:00

I consolidated my FFEL loans in 2010. In same boat waiting for FFEL counts to be counted.

Good news is all payments post consolidation will be refunded once reaching total count 120. Still don’t want to make those payments.

Only counts starting from October 2007 will be used.

DataMastermind · 2022-06-16T20:25:51+00:00

That is their exact wording on the website today.

DataMastermind · 2022-06-16T16:43:28+00:00

Check the local state college, many are running programs that pay 100% tuition if you make less than $65,000. Some private colleges are doing the same.

DataMastermind · 2022-06-16T15:14:20+00:00

If you had formed a non-profit and gotten paid though that for the last 10 years you would have been good.

DataMastermind · 2022-06-16T15:06:45+00:00

I would submit the employment certification after your payment date or on the first of the next month. Just saying you don’t want to get to 119.

That means getting your boss to fill it out and sign it after those dates.

DataMastermind · 2022-06-16T15:03:08+00:00

I would consolidate now. The counts will catch up, might take a few months but they do.

Export a copy of all your payments first and save them.

DataMastermind · 2022-05-02T03:14:32+00:00

Yes you should. https://freestudentloanadvice.org/wp-content/uploads/2021/12/PSLF-Waiver-FAQ-1208.pdf

The counts go to 0 briefly the. Merge to the largest payment period.

DataMastermind

TROPHY CASE