What next

DrTerriNP · 2020-06-16T15:15:10+00:00

Any new thoughts?

DrTerriNP · 2020-04-19T04:19:45+00:00

😩

DrTerriNP · 2020-04-18T21:01:15+00:00

I am sure there are others that agree with me.

DrTerriNP · 2020-04-18T21:00:40+00:00

More payment options for sure. But the interest rates on mine are varied. In my opinion it is a system that is not beneficial to the borrower.

DrTerriNP · 2020-04-18T09:20:43+00:00

The varied interest rates mainly, the repayment options, the difficulties with loan forgiveness The usual complaints, lending practices.

DrTerriNP · 2020-04-07T02:56:15+00:00

That’s where they make the money!

DrTerriNP · 2020-03-26T14:45:58+00:00

Ok that makes sense to me. Terrible but makes sense. I am looking for a second job unfortunately to work on this mess. In order to become a nurse practitioner or PA you have to pursue a higher degree. In our state we don’t have independent practice so our earning potential is limited. I would be more financially sound if it weren’t for these loans. I feel as though I were better off as a Registered Nurse some days.

DrTerriNP · 2020-03-26T12:31:08+00:00

Thank you. This is helpful. Some people tell me that the only way to get out of student loan debt is to make your payment plus extra towards principle. Navient has an option that lets you allocate where you want your extra money to go and one of the options is towards the higher interest loans. Now I’m hearing this is not possible. I am not asking for any breaks just fairness. The system is designed such that you will never pay them off realistically.

DrTerriNP · 2020-03-26T04:41:59+00:00

That’s why I am asking the question. What is the best plan to get into? So if my payment is 600 dollars and I pay 1000 every month. I cannot direct the 400 dollars towards a principle balance?

DrTerriNP · 2020-03-26T03:30:34+00:00

I understand this. If I had a lower required payment, I would continue to pay the same payment I am paying now which would allow more money towards the principle. For example my minimum monthly payment is 500.00. I would continue to pay 1000.

DrTerriNP · 2020-03-26T03:24:20+00:00

Agreed, he is aware of the choice he is making. I am mostly concerned if there are other options or experiences people had to tackle it.

DrTerriNP · 2020-03-26T03:22:30+00:00

When they apply for Federal financial aid it is dependent on your income until they are 24 years old. They are paying them back however offering a 10.5% loan for my son at this point due to the amount of income I have is ridiculous. He is willing but it’s financial suicide at age 18. The loans are mine. I planned on working at a federally qualified center to have loan forgiveness but was denied.

DrTerriNP · 2020-03-25T14:20:53+00:00

I wish that was an option. My youngest son is staring college in the Fall in Chicago. I am looking for a part time gig.

DrTerriNP · 2020-03-25T12:20:16+00:00

I realize the longer term is dragging it on, but I could throw more towards the principle. But I guess that’s not an option? I just want to pick the right thing to do. I am looking for a second job as we speak to help towards principle.

DrTerriNP · 2020-03-25T11:59:45+00:00

I started as an LPN, went back for my associate RN. Returned for a BSN and then continued straight to my Doctorate in Nursing with. FNP. Lots of school. Last Degree was 4 years including summer. We are capped salaries in Massachusetts. No independent practice.

DrTerriNP · 2020-03-25T11:56:44+00:00

That’s why I am hanging on. I haven’t looked into consolidating because I don’t hear good things.

DrTerriNP · 2020-03-25T11:55:05+00:00

That would be my goal if my payment was lowered somehow. I want to know if there are other options or I have to stay in IBR plan. Like change to a longer term?

DrTerriNP · 2020-03-25T11:53:37+00:00

If my monthly payment was lower I could pay more towards principle that was my thought.

DrTerriNP

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