Some help with student loans
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Thread created 09-19-2012 by Scampsters
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That and the fact that so many students just don't seem to have any concept of what it means to be borrowing that amount of money. They take all they can get and piss it away without ever thinking...
Some help with student loans
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Thread created 09-19-2012 by Scampsters
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We have sent this to the ombudsman for student loans. I decided to randomly call goverment education offices and eventually found that they have this group to help in disputes with Direct Loans. It...
Some help with student loans
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Thread created 09-19-2012 by Scampsters
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I tend to agree with this. I'm not a big fan of the government subsidizing certain jobs and educations but I find it difficult to fault anyone for taking advantage of the programs when they are...
Some help with student loans
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Thread created 09-19-2012 by Scampsters
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So $360,000 in loans, divided by $360 a month, divided by 12 months in a year means it will take 83 years to pay it off at the current rate? I have to ask what type of degree does one get, to acre a...
Some help with student loans
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Thread created 09-19-2012 by Scampsters
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My guess is IBR or some other "agreement" between her and the loan co for such low payments. $2800 sounds like a much more reasonable loan payment for such an amount (it's essentially a high rate...
Some help with student loans
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Thread created 09-19-2012 by Scampsters
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does the 360k include undergrad? seems like the med school would offer some easy to get scholarships at that price.
Some help with student loans
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Thread created 09-19-2012 by Scampsters
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In a sense yes because if you make a Goverment responsible then they have 'carte blanche'
Since they really dont run it as a business they have an endless bucket of money to spend and when they...
Some help with student loans
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Thread created 09-19-2012 by Scampsters
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Your wife decided to borrow 360k...now its time to start paying back! Its very simple...high education should be looked at as an investment.
Sorry to bust everyones bubble but the student loan...
Some help with student loans
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Thread created 09-19-2012 by Scampsters
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i echo the 'holy crap' sentiment
is the obama loan forgiveness plan supposed to cover the entire balance after 10 years? meaning you just have to pay interest until then? otherwise - $300 / month...
Some help with student loans
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Thread created 09-19-2012 by Scampsters
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Nope, there's a link above to the fed website with details. Me thinks the OP is confused.
Some help with student loans
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Thread created 09-19-2012 by Scampsters
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32 Replies
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Holy crap
Some help with student loans
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Thread created 09-19-2012 by Scampsters
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I go to school with plenty of people like that. I feel like I'm the only one in my class that works and goes to school. I'll graduate with $30k in loans and thats really higher than I should have let...
Some help with student loans
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Thread created 09-19-2012 by Scampsters
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Apologies in advance Scampsters, but it seems like your wife made some bad decisions that are now becoming the responsibility of the taxpayers. I've made my share of bad financial decisions, but...
Some help with student loans
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Thread created 09-19-2012 by Scampsters
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I think it is unfair to say she made bad decisions that are falling back on the taxpayers. She is using a program that was made available to her with what she thinks is better in the long term. It...
Some help with student loans
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Thread created 09-19-2012 by Scampsters
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8 years of unpaid/poorly paid graduate training is such an easy route for people to take and all doctors in all specialties are getting salaries of $300k a year right out of residency.
If she is...
Some help with student loans
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Thread created 09-19-2012 by Scampsters
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They have forgiveness programs for teachers, and it's something I've looked for for my wife, but she'd have to take such an income hit for SO LONG that it doesn't make sense. That, and the work...
Some help with student loans
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Thread created 09-19-2012 by Scampsters
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Scampsters said it himself - that she was choosing to work for a nonprofit because she didn't feel like going into private practice and actually paying off the loan was worth it:
They are...
Some help with student loans
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Thread created 09-19-2012 by Scampsters
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I must have missed that part.
Some help with student loans
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Thread created 09-19-2012 by Scampsters
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I actually have a nearl identical situation.
My update is due Oct 1 and my latest statement went to 10 year repayment.
I heard this happened to a resident last year so I removed my automatic...
Some help with student loans
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Thread created 09-19-2012 by Scampsters
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luck you. I tried to get them to do that when my consolidation was completed before my IBR and they told me no way. It was in my first 6 months of working so I was already going to get a full tax...
Some help with student loans
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Thread created 09-19-2012 by Scampsters
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No wonder the national debt is so high.
Some help with student loans
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Thread created 09-19-2012 by Scampsters
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yeah, if our gov't is paying for med students to take on social worker jobs because of a mid life crisis then imma be ticked
Some help with student loans
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Thread created 09-19-2012 by Scampsters
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20,000 in interest after one problem? Exaggerating much? Talk to someone else (Manager) at the payment place. It sounds like there is a lot more to the story here than what is being described. ...
Some help with student loans
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Thread created 09-19-2012 by Scampsters
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capitalization on $360,000 of student loans. Yes we can stop payment but that would put the loan in default. Defaulting would also mean she would have to resend all the info in for income based...
Some help with student loans
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Thread created 09-19-2012 by Scampsters
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How on earth is the payment only $360/month (interest only?) on $360K in loans???
I'm really at a loss for where to go. I would send certified letters (containing all documentation) and keep...
Some help with student loans
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Thread created 09-19-2012 by Scampsters
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Medical degree at private school.
They said there isnt anyone else to talk to apparently. The repayment doesnt even cover the accrued interest. Its the income based repayment and falls under the...
Some help with student loans
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Thread created 09-19-2012 by Scampsters
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Anecdote about that.
I had loans from ugrad which actually started repayment while I was still in school for my doctorate. These were private loans with rates 8-10%, so I should have been...
Some help with student loans
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Thread created 09-19-2012 by Scampsters
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That mean she and the school are not being competitive. There got to be a cheaper alternative for medical school and if it is that expensive, then they are making lucrative profit in cost from...
Some help with student loans
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Thread created 09-19-2012 by Scampsters
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I don't think you understand the point of his post thought I feel this will become a debate
1) She is currently a resident physician earning roughly $10-12hr and working 80 hours per week.
2)...
Some help with student loans
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Thread created 09-19-2012 by Scampsters
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They made a mistake and were telling her that the only resolution was to defer and take an interest hit. We dont mind paying a bill but when that bill is incorrect and they try to tell you that the...
Some help with student loans
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Thread created 09-19-2012 by Scampsters
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Pretty sure whoever quoted you the $315 a month screwed up. Income based repayment has limits to it. Guess she better find a better job.
Some help with student loans
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Thread created 09-19-2012 by Scampsters
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$360,000 at 8.5% on a 30 year loan comes out to a monthly payment just shy of $2,800. I'm not sure what the details of the loans are, but that $2,800 payment sounds more realistic than $315.
Some help with student loans
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Thread created 09-19-2012 by Scampsters
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My wifes federal student loan repayment is $315 a month so we were shocked when they decided to pull $2800 out of our checking account.
They sent us a letter that told us that we needed to fax...
Some help with student loans
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Thread created 09-19-2012 by Scampsters
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Actually its supposed to be 286 and it doesnt even obviously cover interest.
As a resident they get $52,000 and as an onstaff dr its 100-120k. If you work for a total of 10 years for a non for...
