Bummer news about my student loans...

[capella]

This is what I get for consolidating like I was advised to do...

There are two teacher loan forgiveness programs and I might not get either. I don't qualify for the Perkins loan forgiveness because I consolidated. I may or may not qualify for the Stafford loan forgiveness because I consolidated. The Perkins loan forgiveness would have meant that right now I would have 2K in loans not 4K. I'd have further forgiveness percentages next year. I have to wait another 2 years before I find out if my consolidation killed the Stafford loan forgiveness off too.

I guess I can use those programs for my graduate loans? Does anyone know anything about that?

[beeblebrox]

can I ask, why are you looking for student loan forgiveness instead of consolidation to pay them off or not have to pay them at all? I consolidated and am paying them down.

[capella]

can I ask, why are you looking for student loan forgiveness instead of consolidation to pay them off or not have to pay them at all? I consolidated and am paying them down.

Because I am a full-time teacher in a low-income school and I qualify for the loan forgiveness program. Except for the consolidation part.

And I have consolidated my loans and I have been paying them diligently since I graduated. And I am NOT looking to not have to pay them at all, but I work my damn ass off and I will take whatever I can get.

Can I ask why you're asking snobby questions like that?

[beeblebrox]

Because I am a full-time teacher in a low-income school and I qualify for the loan forgiveness program. Except for the consolidation part.

And I have consolidated my loans and I have been paying them diligently since I graduated. And I am NOT looking to not have to pay them at all, but I work my damn ass off and I will take whatever I can get.

Can I ask why you're asking snobby questions like that?

there was no snobbery in the question. It was a lack of information and exposition which made me pose the question and now I understand where you are coming from.

[capella]

there was no snobbery in the question. It was a lack of information and exposition which made me pose the question and now I understand where you are coming from.
It sort of seemed like a, "Gee, why is she trying to get off the hook when I'm paying mine off just fine" question.

My bad. :rolleyes:

[winneythepooh7]

I've learned that anything that gives you some money, often makes you jump through hoops, or comes with a catch.

There are some loan forgiveness programs for SW's but it's very competitive, and you often have to take a job way out in the middle of the Arctic circle somewhere in order to qualify.

My field is advocating a lot right now for loan forgiveness.

[capella]

I've learned that anything that gives you some money, often makes you jump through hoops, or comes with a catch.

I know... it's just annoying that I've already jumped their hoops for the last 3 years and now I don't qualify because I was a good little student and consolidated right when I got out of school. It would be nice to get something for what I'm already doing. But I might be able to qualify for having grad loans forgiven since now I know NOT to consolidate them.

[Syracuse]

Don't worry I won't be snobbish to you for making a mistake concerning your student loans, like you were to me. :D

[capella]

Don't worry I won't be snobbish to you for making a mistake concerning your student loans, like you were to me. :D
Ha. Hahaha. NO. You can't even begin to equate your own stupidity to this. Not even close. Sorry dude. Well, maybe in Syracuseland that would make sense... but you see, I'm not an idiot. That makes a big difference.

[WorkInProgress]

Um, wow, Amy.

[Syracuse]

Ha. Hahaha. NO. You can't even begin to equate your own stupidity to this. Not even close. Sorry dude. Well, maybe in Syracuseland that would make sense... but you see, I'm not an idiot. That makes a big difference.
Well in that case just let me say I'm glad you can't qualify for loan forgiveness. :evil: :D

[old_school_soul]

Why did you consolidate in the first place?

[capella]

Well, to lock in the interest rate, and that I had several different kinds of loans and I wanted it into one payment.

I also wasn't a teacher then so I didn't qualify for any kind of loan forgiveness anyhow.

Eh, I can use it towards grad school. I'm not drowning in student loan debt anyhow. It was just nice to see that there were programs that I *would* have qualified for if I hadn't consolidated. But I know not to consolidate my grad school loans so that will help. It's going to cost me about 10K to go to grad school. There's still room for a nice hefty chunk to be forgiven.

[old_school_soul]

I thought you could lock in rates without consolidating.. But what do I know. It's not a big deal to have multiple payments if they get pulled from your account automatically.

[capella]

I thought you could lock in rates without consolidating.. But what do I know. It's not a big deal to have multiple payments if they get pulled from your account automatically.
At my exit counseling they encouraged me to consolidate. I did. My husband didn't consolidate and they raise his interest rates. He only has 4K in loans though. I don't think you can lock them without consolidating them, but I am not sure. Mine have always been consolidated. And I do not have anything automatically pulled from my account except for my car payment, which is through my own bank anyhow. I don't trust auto-pay things.

[Syracuse]

At my exit counseling they encouraged me to consolidate. I did. My husband didn't consolidate and they raise his interest rates. He only has 4K in loans though. I don't think you can lock them without consolidating them, but I am not sure. Mine have always been consolidated. And I do not have anything automatically pulled from my account except for my car payment, which is through my own bank anyhow. I don't trust auto-pay things.
I don't trust auto pay either. For one thing what if they start taking more money out of my account than I want? "By mistake" or something, and then it will be a bitch to get my money back from them. I'll send them what I want to thanks.

[old_school_soul]

I don't trust auto pay either. For one thing what if they start taking more money out of my account than I want? "By mistake" or something, and then it will be a bitch to get my money back from them. I'll send them what I want to thanks.

Because they don't take out more than they ask without a consent letter. And mistakes happen all the time, I've had money dissappear from my account because of my employer and my bank fucking up.

[Syracuse]

Because they don't take out more than they ask without a consent letter. And mistakes happen all the time, I've had money dissappear from my account because of my employer and my bank fucking up.
I want as much control over my money as possible. I don't have much of it.

[beeblebrox]

Because they don't take out more than they ask without a consent letter. And mistakes happen all the time, I've had money dissappear from my account because of my employer and my bank fucking up.

that's how student loans are run where I have to initiatate the payment to be made, so it's control. I autopay on a lot of bills because otherwise I would forget to pay them. I just check the online statements each month to make sure that they're correct.

[wordsmith]

The only thing I autopay IS my student loan. And they have fucked it up. Two years ago, they didn't process my annual renewal form for my income-contingent repayment plan in a timely manner at the end of the previous year, and when the first automatic payment came out of my checking account in January, instead of being for the $109 it should have been for, it was for the maximum repayment amount, which was close to $500, which caused my rent check to bounce. Awesome. Guess we'll see come this Monday if they do it again.

[winneythepooh7]

The only thing I autopay IS my student loan. And they have fucked it up. Two years ago, they didn't process my annual renewal form for my income-contingent repayment plan in a timely manner at the end of the previous year, and when the first automatic payment came out of my checking account in January, instead of being for the $109 it should have been for, it was for the maximum repayment amount, which was close to $500, which caused my rent check to bounce. Awesome. Guess we'll see come this Monday if they do it again.


I like to pay my bills online on my own time for reasons like this, of which I fear. Also, I don't like things automatically taken out that could fluctuate from month to month (ie. electric). Not only that, but some bills can slide longer than others. If I have some thing come up that I need money for, and have to put my cable bill off a week, I'd rather do that then have to struggle to come up with money, or have my account bounce.

[capella]

I like to pay my bills online on my own time for reasons like this, of which I fear. Also, I don't like things automatically taken out that could fluctuate from month to month (ie. electric). Not only that, but some bills can slide longer than others. If I have some thing come up that I need money for, and have to put my cable bill off a week, I'd rather do that then have to struggle to come up with money, or have my account bounce.
I also pay all my bills online, but I am the one to initiate the payment. I pay bills in clumps and I usually pay the clumps at the same time each month. And yeah, the bills that fluctuate are the only ones I really think about. My electric bill can go from 110 in the winter to 360 in the summer. The rest just get paid through the bill pay on my bank website.