Private Student Loan Default Rewards May Be Worth The Risk

private student loan default risk reward

When you're looking at a significant private student loan debt, your options are limits to two - pay or don't pay. If you can afford to make the payments, you should do so as quickly as possible. The faster those private student loans are paid in full, the less you'll wind up paying in interest charges. But fail to make payments and you'll find that there's no help for you. Federal student loan programs such as income base repayment, Pay As You Earn, and rehabilitation simply don't ...

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How To Calculate Your Federal Student Loan IBR Payment Amount

adjusted gross income for ibr

Student loan lawyers love IBR, or income-based repayment. When it comes to federal student loans, nothing provides more flexibility than a repayment plan tailored to your ever-changing income. Made less money last year? No worries, your federal student loan payment will go down. An income rebound means the payments will rise, but never more than the standard 10-year repayment amount. Even better is the fact that your unpaid balance is discharged after 25 years of payments (less if you ...

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What To Do With Those Corinthian Colleges Student Loans

Corinthian Colleges Out Of Business

Corinthian Colleges, a for-profit institution with 72,000 students spread over 100 campuses, is closing down. If you have student loans for your education at Corinthian Colleges, you may find that relief isn't too far off. One of the largest for-profit colleges in the nation, Corinthian Colleges owns the following colleges: Everest College Everest College of Business, Technology and Health Care (Canada) Everest Institute Everest University Everest University Everest ...

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When Does Student Loan Default Occur?

student loan default

If you fall behind on your student loan, you may not be in default. The answer depends on whether the student loan is federal or private. But first, you need to understand the concept of default. What Is Default? A default is, technically speaking, a failure to meet the legal obligations of a loan. The simplest type of default occurs when you fail to make your payments on time. But default can technically happen if there's any obligation whatsoever in a loan agreement that you fail to ...

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Why Bankruptcy May Be The Answer To Your Student Loan Problems

bankruptcy as student loan option

If you're in over your head with student loans, chances are you're getting desperate. You've seen the ads claiming that there are ways to get your student loans forgiven, and that new programs exist to help you. But when you make a phone call, you find out that it's the same old bait-and-switch maneuver that won't get you anywhere. You know it's an uphill battle to wipe out student loans in bankruptcy, but maybe ... just maybe ... your claim of undue hardship will prevail. Tell the judge ...

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What to Do If You’re Sued For Your Student Loans

student loan lawsuit what to do

Finding out that your student loans are suing you can scare the living daylights out of you. Many people do nothing in the hopes that it will just disappear if they ignore the lawsuit. But that's the most dangerous reaction to being sued for student loans. If you ignore the lawsuit and do nothing, the student loan company will get a judgment against you. This judgment gives the lender the ability to take additional actions such as wage garnishment, bank account freezes, and placing liens on ...

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