Another question for Soaplady
Date: Thu, 10/23/2008 - 21:57
Another question for Soaplady
just a quickie question. I have both private and federal loans. The federal loans right now are on deferment because I'm in school but I'm paying back the private ones.
When the time comes for paying back the federal loans, if necessary can i file for income sensitive payments because I pay so much on my private loans?
When the time comes for paying back the federal loans, if necessary can i file for income sensitive payments because I pay so much on my private loans?
Income Sensitive Payment
Quote:
Income sensitive repayment features variable payments that remain flexible and proportionate to your level of income. If you are in a business or job where income could fluctuate, this is a good solution. |
Yes. Federal loans will take into account your private loan pay
Yes. Federal loans will take into account your private loan payments. I would suggest that you consolidate with the DOE's Direct Loan program during your grace period.....they offer income contingent repayment.
