What happens to your federal law school loans when you get laid off? Can I pause payments or will I still need to pay the full monthly payment while I'm unemployed?

like
Posting as :
works at
You are currently posting as works at

Looks like you can defer for up to three years if you apply for deferment (with interest still accruing).

like

The interest will be accumulating since last year under this administration removing the SAVE plan but you can still enroll in an income based repayment plan which would limit your payments to a percent of your income and indicate that your financial circumstances have changed and your income is zero or equal to your unemployment or severance

like

Others answered above, but net of net this is why you should be SHOVING that BL paycheck down your lender’s throats to get free of this monster. Even if you can get deferment, that 8% interest accruing is financial suicide.

like

Tell them your income is 0. Payments will recalculate. You’ve had a significant change to your income. You report.

like

It depends on the type of repayment plan you have

F

F

Related Posts

What is a typical salary for a Revenue Cloud Solution architect? (At Salesforce and at partners)

like

Do men in their 30s actually want to settle down and get married? It seems like most are pretty happy with their single lifestyle. Asking as a 26F who is looking for commitment if I should even bother

likehelpful

How much does a Senior Consultant earn in London? In a consultancy firm.

like

Hey Hey all. Can anyone help with a referral?
There are a few real estate positions available that i think i would be perfect for. Background - Head of Special projects at a real estate developer (building data centres and tech hubs), former McKinsey EM, MBA from London Business School, IB real estate experience and CFA

likefunny

Why does IQVIA takes so long in releasing the offer letter? It's been1 week since my HR discussion and I have also submitted the documents.

like

When do bonuses get transferred? End of November or December?

Anyone in the consulting industry willing to do an informational interview? I have 2 years of industry experience in corporate operations

Can anyone suggest nearby pg at coforge noida @Coforge

like

How have you combated your fear of rejection? I fixate on such small things as when my friends, for example, reject plans I have made. This definitely makes me more averse to putting myself out there and makes me ruminate on past perceived failures, which are clearly not good for personal growth

like

Hi fishes,
Has coforge fired any employees in 2022?

Hi All,

I am looking for a new opportunity on ITSM domain accross India on an immediate basis. Please let me know in case you can extend any help.


Prompt response is appreciated

I received an offer for a role that is a lot more money than I thought but I still want to negotiate and see how much more money I can get. What can I say if the salary is already above average for the role in the market and city I live in?

likehelpful

Quick question

expected CTS for 3.6 YOE as front end (react) developer?

like

Fishes, OK so this is true. Wipro is delaying the joining by half a month due to some restrictions or organisational changes & not ready to compensate for that half a month loss of salary. Very rude & absurd behaviour from them. Hence rejecting the offer as such company if u aren't sure when to ask for joining u may revoke the offer letter later on. Hence multiple options in hand is necessary nowadays. Infosys Tata Consultancy HCL Technologies

like

My office is having a barbecue at one of the supervisors houses. It starts at 4 pm. what time should I show up? Social norms say arrive 30 minutes to an hour after a party start time but it’s since it’s a work party, what is the social norm for social work events?

like

I heard from my head that there is a lot of slowdown in VW Germany... There is Hiring freeze, level freeze and all ... And soon that will spillover to india. So be prepared for very less hikes in coming cycle :( Also automotive sector in general is struggling with tesla laying off 10% workforce recently. Maybe time to make a move? What do you say fishes?

like

Hello all,
I am currently working as a data Scientist with overall experience of 5.5 years and relevant experience of 3 years. My current CTC is in the range of 11-12lpa (including variable).
What should my CTC as per market standards considering I have a PG degree in AI-ML from an recognised college?

like

Hey everyone i have joined Accenture as a fresher on career level 11 as a fullstack engineering Analyst. Cleared GFT and all learning stuffs. But i am on bench for approx 1.5 month. What to do?how to get project for base location gurugram or delhi ncr. I get mails but they are demanding 2+ year of experience. Can anyone refer me? I know java , spring framework and started learning react js.

like

Hi Fishes,

What percentage hike can I negotiate in the HR round of Accenture if I have a second offer of 17 lacs (CTC) in hand and a relevant experience of 2 years?

Inputs from people who are working or have worked in Accenture would be really appreciated. 🙂

Born in US and have always been proud to be American, but this 4th of July I don’t feel the same. We have a 🤡 as President, completely failed response to the Coronavirus, banned from entering Europe, and racial tensions and divisions all around. We are the laughingstock of the world. Anyone else feel the same way?

likefunnysmart

Additional Posts in Big Law

Dreading my first year review. I don’t think I’ve done anything to make myself fireable but who knows! I think I have a lot to improve on though. What’s the mindset you take with you into reviews?

like

Maybe I’m just realizing I’m lazy… but do y’all ever get assigned an actual, hard research or drafting project and realize you don’t like the effort? Like plz let me go back to doc review.

likefunny

Fish, I trust your advice. Anyone have leads or recruiter recs for SF biglaw litigation? Looking to lateral as a to-be second year, mostly antitrust/white collar.

like

About to finish my first year. I’m a specialist. Only going to hit 65% of my hours (took a 4 week vacation cause of wedding/hm).

I never say no to work and i have fantastic reviews, and the head of my practice (with whom I work a lot for) has great things to say about me.

I’ve been fully utilized starting ~June, but first few months were slow. Am i fine?!

like

Do you think sticking it out in BL for 8 years pays off as far as in house prospects/salary go? Or is it all kind of the same after a certain time period. I’m in privacy if that helps (all aspects-trans, regulatory, lit).

like

Completely and totally miserable at my firm and just need a space to vent because my friends are tired of hearing about it. I wish the worst part about it was the amount of work, rather than the completely toxic culture, lack of appreciation, arbitrary and back/breaking deadlines, lack of mentorship/feedback/training, and the fact that the associates act like they don’t even know each other. I cry every day and constantly am made to feel stupid for not understanding the highly technical (cont.)

like

Any corp associates looking to move from biglaw to a boutique? My firm remains busy and is looking to bring on a couple associates. We’re all either hybrid or fully remote, and that’s here to stay. 1500 billables and we’re serious about it. Work is primarily ECVC, Outside GC, M&A. Pay is roughly 30% biglaw haircut, with incentive bonuses for hours and originations.

like

I’ve been having a bit of trouble working with one partner at a new firm. There are definitely things I can/need to work on for improvement, but I’ve been practicing for four years and have had no trouble with other partners/peers before. This partner sent an email to me with bills for one client of his/hers I worked on and now looped in a practice management person to have a ‘management call’ (prob to talk about billing less..) Should I be looking for other opportunities?

like

Any big law associates looking to transfer out of Texas in light of the new laws repressing women's rights? My firm has an office in Colorado and a group of 4-5 of us have been discussing transferring today. Rent/Housing is roughly the same in the two states.

likesmarthelpful

Still want a recruitment bonus 👀. Lmk if you’re looking to lateral!

likesmart

I don't understand why people call themselves "rising x year at ABC". For us who are plain "X year associates", are we doomed to fall?

likefunny

Is an offer after only a first screener a red flag?

like

Kleinberg Kaplan thoughts anyone?

like

Is it common for a midlevel to gossip with a first year about another first year’s work? Is it common for midlevels to trash juniors amongst themselves? I think my office is hella toxic

like

Beginning to consider going in house (4th, corp) - I really haven’t thought about what I want, partly because I’m not sure what’s out there/attainable. Is it a bad idea to start by applying to a couple positions that interest me and seeing where that gets me? I’ll of course prep for the interviews but am afraid to burn potential bridges if I ultimately decline because I’m still figuring things out.

like

I’m a true night-owl that begins thinking clearly about 5 PM. I often send projects out after midnight. Early morning emails and calls are an adventure. Has anyone else had to work through this issue? Fight it or embrace it?

like

Anyone have an Echo device in their office? I really like having them at home but I’m not sure if I should have it at work.

like

Which firms have no billable requirement and centralized staffing?

likeuplifting

I’m a second year associate and last night I was online until 2:30 AM waiting for one specialists comment to a purchase agreement. I had added all comments during the day from everyone else, and the midlevel and senior were online as well, but it seemed very strange to ask me to stay up just to add three sentences to a purchase agreement. Is this normal?

like

What monetary goal/target are you telling yourself to hit before quitting big law?

like

New to Fishbowl?

Download the Fishbowl app to
unlock all discussions on Fishbowl.
That was just a preview…
Sign Up to see all discussions
  • Discover what it’s like to work at companies from real professionals
  • Get candid advice from people in your field in a safe space
  • Chat and network with other professionals in your field
Sign up in seconds to unlock all discussions on Fishbowl.

Already a user?
Login here

Share

Embed this post

Copy and paste embed code on your site

Preview

Download the
Fishbowl app

See what’s happening in your industry
from the palm of your hand.

A phone with Fishbowl app

Scan your QR code to download
Fishbowl app on your mobile

Download app

Sign up for free to view this conversation on Fishbowl

By continuing you agree to Terms of Use and Privacy Policy

Already have an account? Log in

Sign up for free to continue using Fishbowl

By continuing you agree to Terms of Use(New) and Privacy Policy(New)
Messaging rates may apply

Already have an account? Log in

For account settings, visit Fishbowl on Desktop Browser or

General

Legal