Question for Soaplady
Date: Wed, 05/20/2009 - 18:39
Question for Soaplady
Got another question for ya soaplady. I know you've said for federal loans that after 25 years the remaining balance is 'forgiven'. I was in repayment for 3 years before going back to school and now my loans are in deferrment again.
After I finish school, I plan on consolidating my federal loans and getting on ICR because I am paying huge amounts every month for my private loans.
Do those previous 3 years of repayments count towards the 25 years or does the clock reset because i'm currently in deferrment?
After I finish school, I plan on consolidating my federal loans and getting on ICR because I am paying huge amounts every month for my private loans.
Do those previous 3 years of repayments count towards the 25 years or does the clock reset because i'm currently in deferrment?
Nope.....you have to be consolidated with the direct loan progra
Nope.....you have to be consolidated with the direct loan program to qualify for this benefit.
Ok follow up question, the loan I was paying is a direct loan co
Ok follow up question, the loan I was paying is a direct loan consolidation (default, rehab, consolidate deal). Will re-consolidating my new loans with my old loans reset the clock?