GSL over 25 years old
Date: Fri, 03/13/2009 - 09:41
GSL over 25 years old
Only if you had been in repayment over 25 years. Otherwize stud
Only if you had been in repayment over 25 years. Otherwize student loans have no SOL.
My GSL loans came due 2 years prior to graduation. And I only g
My GSL loans came due 2 years prior to graduation. And I only got loans for 2 years which was a total of $8,000 at 9% for 10 years according to the promissory note, GSL loans taken out 1983-4 The course I was in was a PART TIME program for male business executives so they could get to class evenings and weekends when time permitted. American Education Services for the USDE Defaulted me in 1985 and sent it to offset without letting me know what they did and I've been trying to solve this ever since. A few years ago the USDE said I owed 11 more more years which meant I'd owe till I'm 77. Recently I received a letter from Education Credit Management Corp saying I owed $11,000 (so I'm thinking that means they will offset for another 5 years and not 11 since the monthly offsets are $183, but 5 years has not been confirmed) I've paid them already $19,500 but they want me to pay those loans 3.8 times. If they go the 11 more years it would be even more. I saw where someone posted that Bill Clinton said (if I read it right) that the old loans would stop after having been repaid 20-25 years. I've been in repayment 25 years and it seems that ECMC intends to collect another $11,000. How can I stop them?????
You cant stop them.....you have to be in VOLUNTARY repayment for
You cant stop them.....you have to be in VOLUNTARY repayment for 25 years meaning you have to make you payments every month to qualify for loan forgiveness. You are not in repayment....you are basically being garnished. You interest continues to accrue and capitalize. Get into a repayment plan and stop with the offsets. Or you will end up finding your social security check garnished.