Rehab and Reconsolidation
Date: Thu, 04/16/2009 - 18:29
Rehab and Reconsolidation
This is a message for SOAPLADY or really anyone.
I have a student loan for both undergrad and grad school that now tops out at $198k for principal, interest and penalties.
I currently work in a public sector job that will qualify me for loan forgiveness after 10 years.
My loan was consolidated back in 2006 with William D. Ford, however, I went back into default status at the end of 2007. Currently, loan is in collections with ACT out of CA.
I am currently in a loan rehab and have made consecutive payments of $500 per month since Nov 08.
Is this loan eligible for Reconsolidation so that I may apply for the new debt forgiveness program for public service workers?
At this rate, with the amount of interest acruing, I will NEVER pay off this loan, not in 30 years, 50 years... I am already almost 40 years old.
Thanks for the guidance.
REVKEV
I have a student loan for both undergrad and grad school that now tops out at $198k for principal, interest and penalties.
I currently work in a public sector job that will qualify me for loan forgiveness after 10 years.
My loan was consolidated back in 2006 with William D. Ford, however, I went back into default status at the end of 2007. Currently, loan is in collections with ACT out of CA.
I am currently in a loan rehab and have made consecutive payments of $500 per month since Nov 08.
Is this loan eligible for Reconsolidation so that I may apply for the new debt forgiveness program for public service workers?
At this rate, with the amount of interest acruing, I will NEVER pay off this loan, not in 30 years, 50 years... I am already almost 40 years old.
Thanks for the guidance.
REVKEV
After rehabbing you may consolidate again. I dont think you a
After rehabbing you may consolidate again.
I dont think you apply for the loan forgiveness program until you complete the 120 months in repayment.
