nervous about paying student loan...
Date: Mon, 08/31/2009 - 15:10
hi...i've gone through alot of these threads, and there seems to be alot of information here....thank you....
my situation is that i owe about 30k in defaulted school loans....i have been contacted by a CA and they want me to make 4 monthly payments of around 200 or 250 i think....they said as i am doing this i will be applying for the william d. ford direct loan to consolidate....
it seems as if this is the way go....only they seem to be very vague when it comes to what my actual payment will be after the 4 months.....i can probably afford to pay 250 / mo....
does anyone have an idea what my payments will be after the 4 months?
and the CA also told me they are the only company that i can deal with ? is that true ? or might there be a better organization to deal with the start a consolidation of my defaulted loans....
thanks,
kevin
my situation is that i owe about 30k in defaulted school loans....i have been contacted by a CA and they want me to make 4 monthly payments of around 200 or 250 i think....they said as i am doing this i will be applying for the william d. ford direct loan to consolidate....
it seems as if this is the way go....only they seem to be very vague when it comes to what my actual payment will be after the 4 months.....i can probably afford to pay 250 / mo....
does anyone have an idea what my payments will be after the 4 months?
and the CA also told me they are the only company that i can deal with ? is that true ? or might there be a better organization to deal with the start a consolidation of my defaulted loans....
thanks,
kevin
You are misunderstanding what the CA is saying.....the CA is the
You are misunderstanding what the CA is saying.....the CA is the only party you can deal with right now in regards to paying on the loan. You are free to consolidate with whoever you want, but the Direct Loan Program is the best...it has the most options and are the easist to work with.
The CA has no way of knowing what your payment will be....you will be placed on the Income Contingent repayment plan because you are in default. Your payment will be calculated after verifying your income thru the IRS. You can go ahead now and start your own application online with Direct Loans...it will be faster that way,
Quote:Originally Posted by SOAPLADYYou are misunderstanding what
Quote:
Originally Posted by SOAPLADY You are misunderstanding what the CA is saying.....the CA is the only party you can deal with right now in regards to paying on the loan. You are free to consolidate with whoever you want, but the Direct Loan Program is the best...it has the most options and are the easist to work with. The CA has no way of knowing what your payment will be....you will be placed on the Income Contingent repayment plan because you are in default. Your payment will be calculated after verifying your income thru the IRS. You can go ahead now and start your own application online with Direct Loans...it will be faster that way, |
thanks soaplady...i think i am going to get going with the direct loans....i have to stop putting it off...it's time to do something about it, and this seems like the way to go, as i don't really see any other choices
