bigbowe80 LSU Fan Baton Rouge Member since Mar 2007 2152 posts
Student Loan Question- Direct Student Aid Possible Scam?
(Posted on 7/9/13 at 6:11 pm)
Wife has student loans (30k) or so. We've started to pay it off like normal and it's totally on pace as for as being caught up. We'll now her friend is telling her about this direct student aid company which is basically a group of lawyers that know how to file for the Obama Federal Student Loan forgiveness act and basically if you make a low enough amount of money they can forgive the student loan. We file seperately so even though we make too much money together supposedly she would qualify for the forgivesnees with her filing seperately and her salary.
My question and basic point is this: I think its a big scam. I've always subscribed to the notion that if its sounds too good to be true it probably is. These lawyers wanna charge $1000 for their services and I think it's a fraud. The only reason I think it may have a 1% chance of not being a fraud is because I could just see Obama setting up a bailout program for student loans, I mean what else has he not bailed out yet right? Lol
Anyways, a question I knew I had to turn to the money talk experts. Has anybody had any legiimate business dealings with this Direct Student Aid company? Is there any truth to the loan forgiveness plan if a person only makes a certain amount of money Obama money is in play? Lastly, should I feel like a total hypocrite for even thinking about this as a possibility?
re: Student Loan Question- Direct Student Aid Possible Scam? (Posted on 7/9/13 at 7:13 pm to bigbowe80)
quote: H.R. 4170 would forgive student loan debt for those who have paid 10 percent of their discretionary income toward their loans for 10 years and would cap interest on federal student loans at the current rate of 3.4 percent. Individuals who go into teaching, public service or practice medicine in underserved areas would have their debt forgiven after only five years.
Teddy Ruxpin LSU Fan New Orleans, LA Member since Oct 2006 20263 posts Online
re: Student Loan Question- Direct Student Aid Possible Scam? (Posted on 7/9/13 at 7:16 pm to beebefootballfan)
quote: Have to pay on your loan for 10 years never missing a payment to qualify IIRC.
What he is talking about is clearly not the ten years of public interest employment forgiveness plan and furthermore the only cost in enrolling in such a plan may be using a stamp or faxing something, not thousand dollar lawyers.