Managing Student Loans - a Q&A

I often hear about teachers getting cheated out of their PSLF after years of payments. How do I avoid this happening to me? How do I find out if they will forgive my loans after my 10 years?

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I was turned down because they said I had student loans prior to 1997!

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That happened to me despite the fact that I paid those loans off and was looking for forgiveness for loans taken out in 2009

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They only forgive Federal Direct loans. If you have any other type, they’ll turn you down

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They won’t forgive private loans. I called and was declined. My loans originated as federal direct; they told me my loans were somehow changed to being classified as private, so I was turned down, which doesn’t make much sense. I think this is - in part - why they are being sued

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I took out my loans from fed direct 5 years ago after consolidating. Call fed direct for help. Each year I have my employer fill out a form ne send in so it shows my countdown.

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I consolidated my loans and due to the fact that one $600 loan was taken out too long ago that I rolled into the consolidation the entire sum of my loans was considered to originate at that initial point thus making the rest of my loans invalid for forgiveness

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Same for me

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Contact MyFedLoan and they will walk you through the process!

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You have to consolidate loans that are not Federal Direct loans to make them eligible. I don’t know about private loans.

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I can tell you, the Dept. if Ed. figured out a way to reject 99% of us teachers through these forgiveness programs. I was part of the 5 year forgiveness program. I worked in an underrepresented area of need in Science and Special Ed., I consulted the whole time with Navient and was told I was good and in compliance, but guess what? After I served the 5 years and submitted the paperwork, I was turned down and was told I took out a loan in 1998 that did not satisfy the conditions... Mind you, I finished paying that $1500 loan years ago. Navient rejected my application to forgive $17,500. I do noticed that the government waits until you apply for the grant and work the 5 years before reneging on the agreement.

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I have a Fed Dir loan and was turned down. I forget why. It was something about my parents signing something that disqualified me when the loans were taken out.

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I am going to work at a title one school they way for all my loans

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Confused. Are you saying that because you work at a Title 1 school, you will have all of your loans forgiven OR because you are working at that particular District THEY are paying for your loans???

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You should also be able to check the number of “PSLF matched months” (if any) through your Federal Student Aid login.

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The eligibility requirements are strict, but many teachers meet them and the program can be life changing if followed carefully!

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You could contact an attorney that specializes in consumer law. They can help you navigate PSLF and may be able to reduce your payments as well. There is one in Chicago that advertises on the radio all the time. I’m working with them to help me with Parent Plus Loan debt. There is most likely someone in your area you could contact.

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