student loan forgiveness in america
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So at least this is how I'm going about it. I'm about 48,000 dollars in debt. I know in my case, because I still don't make enough to cover the 500 dollars a month payments that I filed an Income-Based Repayment plan through Sallie Mae. If you remain on the IBR plan for 20 years, your loans will be forgiven completely. Of course, you also have to remain relatively low income to remain on the plan for those 20 years.
As far as non profit organization work. You have to be working for a non-profit organization for 10 years and have consistent on time payments during that time.
Also, no one at any loan company is going to mention this sort of thing. Search Sallie Mae for 'loan forgiveness' and it will give you absolutely nothing. They don't want you to know that you need to start that clock running NOW to be able to have your loans forgiven.
Here is the link to one of the most informative websites for the kind of forgiveness you are looking for.
Right Here. Good luck!
As far as non profit organization work. You have to be working for a non-profit organization for 10 years and have consistent on time payments during that time.
Also, no one at any loan company is going to mention this sort of thing. Search Sallie Mae for 'loan forgiveness' and it will give you absolutely nothing. They don't want you to know that you need to start that clock running NOW to be able to have your loans forgiven.
Here is the link to one of the most informative websites for the kind of forgiveness you are looking for.
Right Here. Good luck!
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You pay $500 a month?
Damn...
I am the better part of £30,000 in debt from studies but it is paid back straight from wages like an extra tax and at a percentage of whatever I earn over £15,500. I pay about £10 a month at the moment.
Damn...
I am the better part of £30,000 in debt from studies but it is paid back straight from wages like an extra tax and at a percentage of whatever I earn over £15,500. I pay about £10 a month at the moment.
Before I got on the IBR plan, yes. I was paying about $500 a month on the Graduated Repyament plan. That's when I had to switch over to the IBR.
I still have about $16,000 remaining I think.
I have not worked with any non-profits, I have actually meant to do this and other BS has popped up and I’ve put some things on the back burner.
Anyhow, StrikeDebt and their other group RollingJubilee, are two such groups that I am aware of, although they are really one.
They buy up debt for pennies on the dollar and then instead of collecting it, they void it. I imagine you would have to contribute something monetarily to get your debt on the list to be nullified, but I’m not sure…maybe not. I also am not sure how they select the next person’s debt…is it in order, or a lottery?
Still, it would be a worthwhile thing to do if you still owe a crapload and have a smaller income to live on.
Disgusting how much in debt the average American is…most of it, in order to become educated so you can subsist in middle-working-class limbo and die broke.
Any way I can stick it to a debt collector or a scumbag hedge fund manager I will.
I read they picked a college that was really shitty and forgave all the loans from one of thier accounting majors because none of those people came out qualified.
That’s pretty awesome.
The whole system is a racket now…not only how much it costs, but this idea that you have to have a degree of some type to make it in the world. I remember this being drilled into my head again and again and how you would be homeless if you didn’t go to college.
It’s partially true…you can make in other fields of course and be wildly successful, but for certain things you must have a degree, which is understandable.
The problem I have is the mother f*&%king baby-boomers danced around with flowers in their hair naked in the mud tripping on acid, then had a university education paid for by the taxpayer.
So what made it so great, that it is now required in order to make a decent living, we have to put ourselves into debt for the rest of our lives?
They had their cake, and they took our cake away and ate it too, all in the name of profits and greedy fuckers.
Look at what you have done to the nation you sick bastards.
The first time in the history of the US…your children will have a worse life than the generation before them.
Up here you apply to the government for your student loans. Usually a significant portion of it is treated as a grant and is forgiven when you complete school. After you are finished school you have six months where you do not have to pay your loans. When your loans come due the interest rate is quite low and you can apply for a deferral and continue to do so until such a time you can afford to pay it.
Student loans here are something you cannot consolidate into other debt nor can you file for bankruptcy and have the loan forgiven. For the most part people who choose to use student loans in Canada won't be too grossly into debt, though some people are depending on varying factors.
Student loans here are something you cannot consolidate into other debt nor can you file for bankruptcy and have the loan forgiven. For the most part people who choose to use student loans in Canada won't be too grossly into debt, though some people are depending on varying factors.
That is the same with the student loans debt here in the US…but, people don’t really look into the myriad of ways to get rid of their student loans.
Most people think that becoming disabled is the only way, it’s not…here is a good link - http://www.marketplace.org/topics/your-money/numbers/how-get-rid-your-student-loans-without-paying
Here is a link to the ebook -"60+ Ways To Get Rid Of Your Student Loans (Without Paying Them)"
One form of mass civil disobediance would be for tens of thousands of students to all agree at the same time to not pay their debts...just default and let the government write the debts off
There is a growing group that is doing just that.
Here a really great article - Top 10 Reasons You Should Stop Paying Your Student Loans.
And this -
I Said No to My Student Loan: One Borrower's Decision to Stop Paying
I am aware of the total lack of consumer protection associated with student debt.
But I took a long, hard look at the numbers, and I realized that I am already a slave.
http://www.alternet.org/story/15331..._loan:_one_borrower's_decision_to_stop_paying
Oh nice one!
I listened to an interview with david graeber speaking about the issue recently and he mentioned the 'strike the debt' group i know you know about and about a campaign to get people to default as a mass civil dissobediance movement; he wasn;t just speaking about student debt either
One of the barriers he mentioned to the success of such a project is that most regular folks have an ingrained sense of a social obligation to always repay a debt
Now thats a nice trait of humans...it shows most humans abide by a natural sense of fair play but i think there are times when people can kick up a stink....and i think now is one of those times
The reason being that the banks have behaved criminally and they did not follow through on their social obligations; for example the banks got the current fractional reserve system going by claiming it would raise the quality of life for everyone and it hasn't
So i think in moral terms i think people are justified in sticking it to the banks because the banks have stuck it to us first!
Whadya reckon?
Wouldn’t such a case brought forward in a court of law and into the public eye be such a wonderful thing?
Maybe they could answer why we now have to take out a fucking mortgage just to become educated enough to survive in society?
Who decided that they would privatize everything (supposedly there would be this magical competition that lowered prices) and what we got was gouged.
But god forbid you don’t have a college education…you just won’t survive is what we’re told…so basically you are being strong-armed into taking on debt at a time you are just sinking or swimming already in the world.
What nonsense.
Why are we so damned stupid…I guess because no one can afford an education…but of course the private prisons have all the funding they need to build build build!
Insanity.
The housing bubbles gonna blow soon, the student debt bubble will blow, the commercial buidling bubble will blow and the dollar is going to crash
But countries around the world are struggling
China has a monumental housing bubble and europe and the uS are not buying consumer goods from china anymore so china won't manufacture and if it doesn't manufacture it won't need raw materials from mining countries like australia, bolivia, venzuala etc
The US has struck a deal with client states saudi arabia and qatar to sell oil super cheap which is forcing other oil and gas producers like russia to lower their prices and oil and gas is something like 40% of the russian economy so basically we have a mexican stand off situation where everyone is aiming a gun at everyone else
Problem is it looks like theyre going to pull the trigger
They're already trying to compete in a currency war
So its basically all out insanity out there....our leaders are completely out to lunch
We cannot rely on them to restore sanity because they are actually incapable of sanity
So i think the people do need to start taking matters into their own hands
Education should be free and if in this supposedly advanced age we can;t educate people for free then there is something very wrong
From what I understand, there is no forgiveness for private loans. If you're in serious debt and cannot find a good job, you might want to consider moving to another country where they can't get you. I've heard of law students having to flee as a result of being in like 100k debt and unable to find a job after they graduate.
For loans from the federal government, they can be forgiven if you work for a qualifying (read: on their approved list) nonprofit or government agency. You will have to work there for 10 years, and you will have to make 120 qualifying payments, which I assume means you have to at least pay the minimum. So if you get sick and miss a payment or are laid off and have to take work in the private sector, too bad. Considering the minimums on the standard repayment plan, you are probably better off doing what you can to pay off the loan as quickly as possible unless you're in major debt. To me, it really only looks like a reasonable route if you went into some serious debt and want to do nonprofit work. If you're only in 30-40k debt, you can probably pay it off in 3-5 years with a decent government or nonprofit job, which is what I'm planning to do with my debt.
For loans from the federal government, they can be forgiven if you work for a qualifying (read: on their approved list) nonprofit or government agency. You will have to work there for 10 years, and you will have to make 120 qualifying payments, which I assume means you have to at least pay the minimum. So if you get sick and miss a payment or are laid off and have to take work in the private sector, too bad. Considering the minimums on the standard repayment plan, you are probably better off doing what you can to pay off the loan as quickly as possible unless you're in major debt. To me, it really only looks like a reasonable route if you went into some serious debt and want to do nonprofit work. If you're only in 30-40k debt, you can probably pay it off in 3-5 years with a decent government or nonprofit job, which is what I'm planning to do with my debt.