i have student loans through nelnet and sallie mae. both are over $300 a month (sallie mae is 600) consolidated. there is no way i can really make these payments. if i do pay the total a month for one and only a portion of the other can they still report me even if im paying them?? i have tried everything and cant get the payments lower
Immediately call sallie mae There are many types of deferements you can get through them to make lower payments or even pay nothing. For example, are you working less than 30 hours a week, is your income low, does your student loans exceed more than 4 and up to 25 percent of your income etc. call immediately to see what they can offer you
I have taken out some Direct Loans in the past for my education. I graduated in December of 2007 and did not enroll in Spring 2008 but have enrolled in Fall of 2008 with hope of getting into a graduate program. I have enough hours to designate me as half-time status. My repayment options on my loan are about to kick in but since I am enrolled half time or more they should be deferred again I believe. Do I need to contact Direct Loans and let them know or will they check the National Student Clearinghouse or some other source for this information? I was under the assumption they would just check it but do I need to contact them?
As the MPN that you signed will state, it is ultimately your responsibility to notify the lender of changes in your status. Direct Loans does review the NCH, but better safe than sorry. Let them know you are qualified for the in school deferment before your grace period ends, and it will be there for you after you complete your next level of schooling. Good luck
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Can a private student loan company garnish my wife’s wages or property or cars?
I decided to go to medical school and ended up borrowing $150,000 and all were private student loans. I borrowed $70,000 before I got married. All the loans are in my name and no one else signed for them. I also have $45,000 in credit card debt all in my name and she was never added to any of the accounts. I am not working, but studying to pass my medical exams. The private student loan creditors are requesting payment now, which of course I can’t send them. My wife is paying off my credit card debt and she still hopes to save our credit. If it gets to the point of a lawsuit and they win can the private student loan company garnish any of my wife’s wages? How about if we get a divorce will that prevent them from garnishing her wages? Property? Cars? I am living in Florida. Any input is appreciated.
Florida is not a community property state.
Anything that is in your wifes name is exempt, including her income.
You might check out the following links, the first is to Florida exemption statutes and the second has links for Florida laws and information
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