**** all of that and just get on a plane. QF108 departs daily for Sydney. We have a shortage of teachers here. We treat them better than these idiots do. The rest of you should follow my advice as well and leave that shithole. George W and his mates can sort it out.
I'm actually in the middle of re-consolidating with direct loans, but from what I've read, you can't consolidate more than once. If that's true I'm screwed. I'm trying to get the income contingent, we'll see how that goes. Second job, impossible, I coach 3 sports and am at the school at least until 6 and on game nights til 10 or 11. As for the ombudsman getting interest removed....Do they do that? I've been through quite an ordeal with an ombudsman trying to find a way out of this nightmare and that was never offered as an option. YES, removing interest and only paying back 60k would be very doable, but, as of yet they haven't offered. So, is american football growing in Sydney at all?
Re: Re: Student Loan Nightmare Wow, that is incredibly helpful information to those of us trying to repair real problems. Personally I like dubya and I'm stayin!
Re: Re: Student Loan Nightmare Agreed, I aint going nowhere. I'd just like to find a way to do this without losing half of my income. I have a wife and 2 kids, let's see anyone live on 900 per month after student loan payments.
Yes, I do get paid for coaching. If you can call it that. It is an investment for later. I get $1700 for a football season, $2000 for a basketball season and $1000 for baseball season. That pretty much works out to about $.50 per hour, but with experience it could get much better.
Anyone have any new ideas on this? I see there is a good movement for reform, but is there anything else?
How about you tell us if there is any updates to your situation since your orignal post earlier this summer... I agree with some of the original reples - including student loans in bankruptcy is rare, very rare. Because just as someone mentioned before, they are easy to get, and the government thinks that you have all of your living life to pay it off. Have you been making your payments? Is your balance still at $115,000?
Check this out, perhaps you have already exhausted these options or they are not applicable to you: http://www.finaid.org/loans/forgiveness.phtml
Eriq, I continue to be in the "forbearance" period. I suspect my debt is up around $120k now. The simple truth is there is no way I can pay it. It would be nearly 3/4 of my take home pay. I don't know what to do. They can't eat me.......
I'm almost wondering if being a lifetime half time student will be the only way for me to stay in this country. I mean, I can pay $1000 per year to the local juco and take some classes or I can pay $1000 per month and do that until I'm 30. With the teachers salary I earn, that will leave me about $800 to live on and raise my 2 kids with. Great future.
Wondered if anyone has any news. I got a letter from the state of AK today and they took back over servicing of my student loan with an offer.... Pay 75% before the end of the year as settlement or starting 12-16-03 pay $350 a month for five years. That of course amounts to way more than 75%. I am torn. I would have happily paid 50%, so I was thinking about calling and offering it. I'm curious about how paying on this (which I want to do!!) will affect my current credit situation. Their letter states, "Your initial monthly bill .....will reflect a "current in payment" status on the new schedule, however due to your default on this debt, all condtions of default remain applicable to collection on your account." Obviously they are saying they will collect by any means possible (they cannot garnish me.) but can they really report this as a default when it's over 7 years old? Or could it actually go on as good, assuming my current payments are current? It's not on my credit at all right now, and I only am guessing they might start reporting, I don't know for sure. I think they only ever reported to EX, but it's been so long I am not sure. Any thoughts?
So, they offered to take 75% but then said they'd continue to keep after the debt? I mean they weren't offering 75% as payment in full? I don;t know what to do. My forbearance time is up in February. I have 9 more months I can apply for, but doing so basically adds 9 grand to my balance. I mean, I'll be looking at 130k by the time my forbearance runs out. Jeez, there has to be another way......
Marci (HI!!!).as always, thanks for your input..very valuable!! And, it will really help..was about to consolidate and will follow your advice with DirectLoans..(Whew..just finished my Masters at end of Sept.)
I'm confused. Can I consolidate with Direct Loans if I've already consolidated my loans with another lender?
Re: Re: Student Loan Nightmare Do you mean to say that in the 5 months since this was suggested, you haven't called to ask them? Or if you have, what did they say? If they said "no", their answer probably is more important than anyone's here... and if you haven't asked yet, their answer is still probably more important than anyone's here... everyone's situation is different. How about the Ombudsman, did you ask to get any interest forgiven? If so, did it work? If not, why not? There's a lot of ideas that were suggested to you - but "ideas" are just that, it takes effort to make any reality... and it's all fine and good to ask for help when you need it, but how about helping someone else in turn by saying what worked, what didn't work? OK, one more idea - you haven't mentioned any income from your wife, even though a portion of the debt is from her student loans... is she (was she) a teacher also? Assuming you've made the decision for her to stay at home (esp. given your long hours), can she do something at home for income? Tutoring, maybe?
YES!!! you can. Goto the website someone gave out & give Federal Direct Loan center a call. ASk for income contingent payment. The payment will never be more than 10% of your monthly income. If you still cannot afford that, they will work with you on the payments. As someone wrote above, any balance not paid at the end of the loan term (360 mo) will be considered as taxable income. Also, I have a friend who discharged his student loans. He makess 25K a year & had loans of 40k+. Demonstrate hardship.
So...your plan was to have kids, rack up $100k+ of student loans...and then work as a TEACHER? WTF? aiki
