Is this information true?

[DeSiRe]

So I have been ducking and dodging the federal loan people for about 2 years (since i graudated..lol)

well they finally caught up with me (sent a message to my WORK VOICEMAIL ) talking about they are about to garnish my wages and all that jazz

so i agreed to a payment plan cause i cant have that happen

but during the conversation they said something that didn’t seem right...

according to them you can consolidate federal student loans

does anyone know if this is true?

i owe about $30,000 and i was seriously considering consolidating all that so I can at least get a low payment every month

anyone have experience in this department

 

[followup]

at you... Girl pay those people back, don't ruin your credit

But yeah you can consolidate federal loans, but you can't consolidate them with your non-federal loans.

 

[DeSiRe]

wow...

well my plan was to consolidate the private loans with the federal ones...but i guess you cant do that...which is what they were trying to tell me

well im stuck like chuck now....they are gonna get their money

thanks for the info

 

[SEXY_SCORPIO]

So I have been ducking and dodging the federal loan people for about 2 years (since i graudated..lol)

well they finally caught up with me (sent a message to my WORK VOICEMAIL ) talking about they are about to garnish my wages and all that jazz

so i agreed to a payment plan cause i cant have that happen

but during the conversation they said something that didn’t seem right...

according to them you can consolidate federal student loans

does anyone know if this is true?

i owe about $30,000 and i was seriously considering consolidating all that so I can at least get a low payment every month

anyone have experience in this department

You can consolidate but I don't know if you realized the interest went up on loans I think in 2007,so you will be paying a good amount of interest at the end. I really am sad that you tried ducking them because the federal government is going to get their money one way or another. Be glad they didn't take your refund or anything else. Just get on the payment plan and if you are able to pay more during a certain month do so,otherwise you will end up doing yourself more harm than good.

 

[DeSiRe]

oooo didnt know about the interest thing...cant use that as a deduction when u file taxes?

i honestly have had other things that required some immediate attention...so the student loans took a back burner...i pretty much figure ill be paying them back for the rest of my life...so i would get to them when i got to them

i recently decided to go grad school (my company has a program) so i imagine this was something i would have had to address in the near future anyways

its sad i cant consolidate all of them to get a low payment...but oh well

 

[SEXY_SCORPIO]

oooo didnt know about the interest thing...cant use that as a deduction when u file taxes?

i honestly have had other things that required some immediate attention...so the student loans took a back burner...i pretty much figure ill be paying them back for the rest of my life...so i would get to them when i got to them

i recently decided to go grad school (my company has a program) so i imagine this was something i would have had to address in the near future anyways

its sad i cant consolidate all of them to get a low payment...but oh well

I think you can use it as a deduction. But just pay the minumum at first which is $50,until you can afford more and with grad school be prepared to spend even more money. If you ask any doctor or dentist,their first year or so working was spent paying back student loans. You are damn near broke during your first year.

 

[DeSiRe]

I think you can use it as a deduction. But just pay the minumum at first which is $50,until you can afford more and with grad school be prepared to spend even more money. If you ask any doctor or dentist,their first year or so working was spent paying back student loans. You are damn near broke during your first year.

whoa whoa whoa whoa!!

$50 is the minumum?

they told me $250 was the minumum...

and that was after i talked them down from a $2,000 down payment and $400 monthly payment



maybe cause its been so long the minumum payment is more?

 

[SEXY_SCORPIO]

whoa whoa whoa whoa!!

$50 is the minumum?

they told me $250 was the minumum...

and that was after i talked them down from a $2,000 down payment and $400 monthly payment



maybe cause its been so long the minumum payment is more?

Umm...no. If I decided to pay my student loans back I could pay $50 though I wouldn't because it will kick you in the ass later. If you want to try to take it down to a cheaper value,just tell them you are having a financial hardship and they will work with you.Read the loan website I am sure they have info on it