Student loans

Do any of the US members have any experience discharging student loans? You can no longer discharge them in bankruptcy, and there are ways to avoid repayment (proof of total and permanent disability, hardship) but the first won’t work for me, and the second is really time consuming. Have you gotten a long term deferment? Done any research on loan forgiveness? Please share!

I’ve done a little research and requested forbearance on my students loans, but not cancellation yet. Here’s an article you may find useful.

http://www.nolo.com/article.cfm/pg/1/objectId/63C80677-0D3E-4505-AC3B7782841603F6/catId/2E00F7A7-E208-4858-BD0B8308A4D30D8A/213/208/135/ART/

Ben

I will be doing research soon and I will keep you posted

Erin

Mine are taken care of through grants and vocational rehabilitation, which is set up prior to going to school, so I cant help unless you decide you want to go to school for something else, then let me know, I do know some tricks about that ok? Wish I could help more!

THERE IS NO FORGIVNESS … U OWE IT AND IT WILL FOLLOW U FOR LIFE - GO APPLY FOR A MORTGAGE USING AN FhA LOAN - I DID AND WHEN I FOUND OUT I STILL, YES STILL OWED MONEY, I WAS SHIT OUT OF LUCK… WITH THEM ANYWAY. I WAS ABLE TO GO CONVENTIONAL THANK GOD. I FOUND THE STUDENT LOAN CRAP THE MOST DIFFECULT THING IN THE WORLD … U CANNOT REASON, TALK TO, OR GET ANYWHERE WITH THOSE PEOPLE IF THEIR RECORDS SHOW U STILL OWE MONEY … RIGHT OR WRONG. I SUGGEST U CONTACT YOUR CONGRESSMAN AND HAVE YOUR PAPERWORK TOGETHER TO SEND TO, OR MAKE AN APPOINTMENT TO MEET WITH SOMEONE FROM THAT OFFICE. I AM IN THE BEGINNING STAGES OF DOING THAT MY SELF TO ATTEMPT TO RECOUP OVER $ 4,000. IT SUX BUT DAMN, IT WOULD BE NICE TO HAVE IT BACK … dmr

I have a friend who managed to discharge his student loans (post 1998) in bankruptcy, but it took 10 years of making payments, 3 years of litigation, 20K in legal fees and 5K in expert witness costs. It hardly seems worth it–and his case was exceptional–it’s not likely other people would be as “lucky.”

Im not sure Marilyn, Let me know cause im in deferment rite now , and info would be very helpful.:slight_smile: Caroline

Let me know if you come across some information- I have NOT found any avenues on my end. I would like to go to college but I’m unable to find grants -“they” say I make too much…

Regis

Regis, There was just an article in the Wall Street Journal in the past week or so about this very thing, in particular, about MUCH more generous grant programs (mostly at private colleges for undergrad, esp. Ivy League) up to 100% of tuition replacing traditional financial aid structures, and availability for people with incomes that previously would have precluded them from benefiting from most grants. Here is a link to the article:
http://finance.yahoo.com/college-education/article/104896/The-New-Math-of-College-Financing

I was laid off from work when the business I worked for closed in the months before I was diagnosed with an AVM, and now am unable to work. I am being scheduled for surgery soon. I recently applied for a hardship deferment of my student loans which is currently being reviewed, as I was told they don’t have a deferment for medical conditions, and I no longer count for unemployed deferment. Well see…

There should be a deferment for that, you should be able to get called a temporary total disability deferment. I would post a link, but the student aid website is down. It’s good for up to 3 years, renewable every six months during that period (and reviewed). You would need a doctor to sign the form sating that you are temporarily completely disabled, and unable to work at all ( and you CAN’T work during this time.) Look into that and see if it gives you better terms than the hardship deferment, good luck, and let me know what happens

thanks, ill have to check into it!

Doesn’t sound like the folks were very helpful. Sorry about that.

BTW, there are 2 types of “deferment”. Forbearance and deferment. You should be able to easily get a forbearance granted to you. A forbearance is less formal than a deferment. I filled out forbearance forms for my loans a couple of months ago. I think on one I had to print out some proof of my condition and for another I just had to describe my condition. All were granted without any additional info or hassle.

This book provided the best advice: http://www.amazon.com/Take-Control-Your-Student-Loans/dp/0873373588

I see that these postings are from 2008; therefore, can anyone provide any updates on what was tried & the results? Thank you.

I have decided to go back 2 school and my AVM is not completely gone. I am on disability right now. I have a B.S. in Biology and want to go for my masters. What would you suggest?
Thanks

Jo said:

Mine are taken care of through grants and vocational rehabilitation, which is set up prior to going to school, so I cant help unless you decide you want to go to school for something else, then let me know, I do know some tricks about that ok? Wish I could help more!

I don’t know because mine are in deferment for the time being. But my Aunt finally got out of hers and I think she had to prove that she would never be able to work again but then I think that she told me she could never ever get a school loan again and it took alot of time to finally get out of it.

Cindy Phillips said:

I see that these postings are from 2008; therefore, can anyone provide any updates on what was tried & the results? Thank you.

Thank you, Erin. Good luck with the schooling!

Erin said:

I don’t know because mine are in deferment for the time being. But my Aunt finally got out of hers and I think she had to prove that she would never be able to work again but then I think that she told me she could never ever get a school loan again and it took alot of time to finally get out of it.

Cindy Phillips said:
I see that these postings are from 2008; therefore, can anyone provide any updates on what was tried & the results? Thank you.