paying student loans

[Zoe Girl]

It is going to be tight but I got a payment amount I can probably live with. I am prepared to sign back up for the program where after 10 years your loan is wiped clean if you are working in public service and paying on time the entire program. It is a stress to find the money however a huge relief to finally be able to pay on them and make progress. They were not too hard to deal with even though the amount is a bit more than I am comfortable paying. My income looks a little bigger since I get an amount in my paycheck for health insurance and then I pay that exact amount back to my district for health insurance.

Now to set up the bank account with automatic payments and enough for a couple months of payments so I can always be on time for 10 years! That is not my strength area even though I DO pay all my bills. It is super easy to make a late payment for me now and then. I am being honest so please no judgment.

[iris lilies]

What happens if you are late one time?

[Zoe Girl]

Then I lose my progress to the 10 years towards forgiveness. I had 3 years in and my payments went from $30 a month to $250 when my income got above $30K or so. I talked to them but it has taken awhile to get back to a reasonable payment, however I lost those 3 years because I couldn't pay and went back on forebearance. Now with the bankruptcy paid off I have can start to work on this, it was on hold for awhile.

[iris lilies]

I really hate that if you are late once, you start all over again.

This might be something I would, if you, talk to my parents about covering if I got into a jam. Give them some warning.

120 times this payment has to be a priority. That seems like a lot of pressure, and possibly unrealistic, for something that isn't your strong point.

[mschrisgo2]

Will all those on-time payments at least help increase your credit score?
10 years is a very long time.

[Zoe Girl]

My plan is to put my last tax return in the second checking account, then get my paycheck a split deposit. That way there will be back up, my tax return will be 5 months worth of payments and if I am paying every month on automatic payments then that is the best I can do honestly.

My credit score isn't that bad honestly. I had 2 mortgages that were paid regularly until the recession and foreclosure. I also paid the chapter 13 on time for 3 years. I was surprised the last time I checked but I don't recall the number, it was in the good range and I wasn't paid off yet.

Who knows, depending on who wins this election the program may not last,

[Ultralight]

120 payments on time once a month for ten years is really dang strict. I know because I am two years into this stuff. I I have it on auto-deduct from my bank account. I also check it manually. I also call the student loans jerks once a month or so and just ask: "So...what is going on with my loans and my forgiveness program?"

This month's payment of mine will be deducted today. It is about $285.

ZG: I feel your pain.

[19Sandy]

I was watching a show about vets on the animal planet channel and some of them are still in school and have borrowed over 150,000! Yikes!

[sweetana3]

Being a vet is more popular than medical school. Not many endowments or scholarships. Not an unusual situation. And think, the vet salary is mostly below an MDs salary. [[