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Wife has student loans that she is paying on. is there any programs that assist

Posted on 11/15/14 at 8:56 am
Posted by shoelessjoe
Member since Jul 2006
9910 posts
Posted on 11/15/14 at 8:56 am
In paying them? Like lower interest rate. She went back to school after she had our twin daughters and it is a struggle sometimes.
Posted by WDE24
Member since Oct 2010
54134 posts
Posted on 11/15/14 at 9:02 am to
Federal or private? Federal has a lot of different repayment options. It won't reduce your principle or interest, but they will temporarily suspend or lower your monthly payments which can help with a temporary cash flow issue.
Posted by soccerfüt
Location: A Series of Tubes
Member since May 2013
65688 posts
Posted on 11/15/14 at 9:03 am to
Current Pics?

She might be able to generate an alternate revenue stream.....
Posted by sugar71
NOLA
Member since Jun 2012
9967 posts
Posted on 11/15/14 at 9:04 am to
quote:

Current Pics?

She might be able to generate an alternate revenue stream.....

This. Beat me to it.

I've had plenty of overtime lately.
Posted by shoelessjoe
Member since Jul 2006
9910 posts
Posted on 11/15/14 at 9:05 am to
How can you say that bout the mother of my children.
Posted by Brettesaurus Rex
Baton Rouge
Member since Dec 2009
38259 posts
Posted on 11/15/14 at 9:08 am to
I have student loans as well and I know there's some options on getting them deferred or payments lowered for extenuating circumstances
Posted by LSUSUPERSTAR
TX
Member since Jan 2005
16312 posts
Posted on 11/15/14 at 9:08 am to
They usually all are someone's mother. I love each and every one....for about 3 minutes.
Posted by Breesus
House of the Rising Sun
Member since Jan 2010
66982 posts
Posted on 11/15/14 at 9:10 am to
Has she considered being a cam girl?

She can make as much as a stripper without anyone touching her and sell her panties online to psychos
Posted by LSUtigerME
Walker, LA
Member since Oct 2012
3796 posts
Posted on 11/15/14 at 9:15 am to
What does she do?

There's several federal forgiveness programs. My wife's a teacher and has a forgiveness program after 5 years. You have to teach in a low income school, and meet a few qualifications for education (ie be a certified teacher in your subject). It's $5k for non-math and science, and $17k (I think) for math or science.

There may be other programs out there for other careers.
Posted by LSULaw2009
Baton Rouge
Member since Feb 2008
1695 posts
Posted on 11/15/14 at 9:34 am to
quote:

There's several federal forgiveness programs. My wife's a teacher and has a forgiveness program after 5 years. You have to teach in a low income school, and meet a few qualifications for education (ie be a certified teacher in your subject). It's $5k for non-math and science, and $17k (I think) for math or science.


There is also 10 year Public Service Loan Forgiveness for anyone working in Federal, State, Local, or tribal government (including teachers) or for certain Non-Profits.

When used in conjunction with forgiveness programs, Income Based Repayment (IBR) can be very helpful; 15% or 10% of discretionary income depending on when person last borrowed. Although IBR gives you a 25 year repayment plan, it doesn't matter if you get remaining balance forgiven tax free in 10 years.
Posted by shoelessjoe
Member since Jul 2006
9910 posts
Posted on 11/15/14 at 9:37 am to
She is a nurse.
Posted by LSULaw2009
Baton Rouge
Member since Feb 2008
1695 posts
Posted on 11/15/14 at 9:45 am to
There is apparently a Federal Nurse Corps Loan Repayment Program. LINK
Posted by Isabelle
Member since Jul 2012
2726 posts
Posted on 11/15/14 at 9:48 am to
Hospitals use to help with loans but I don't think they do that any more. Charity hospital would pay loan month for month worked there. Not so now.
Posted by GRTiger
On a roof eating alligator pie
Member since Dec 2008
63011 posts
Posted on 11/15/14 at 9:49 am to
2 questions:

1. How much debt are we looking at?

2. Have you ever seen Indecent Proposal?

You can provide pics in lieu of answering #1, depending on results.
Posted by Isabelle
Member since Jul 2012
2726 posts
Posted on 11/15/14 at 9:54 am to
Thanks for sharing that info. Hoping my daughter can benefit.
Posted by LSULaw2009
Baton Rouge
Member since Feb 2008
1695 posts
Posted on 11/15/14 at 9:55 am to
Depending on the employer, PSLF might still apply, key is government, or not for profit business. As originally set up (LSU Run), nurse working at Charity Hospital would almost definitely have qualified for PSLF. With the privatization contracts its a trickier deal.
Posted by ksayetiger
Centenary Gents
Member since Jul 2007
68311 posts
Posted on 11/15/14 at 10:01 am to
quote:

Has she considered being a cam girl? 

She can make as much as a stripper without anyone touching her and sell her panties online


you sure know a lot about this

quote:

psychos


oh I get it know
Posted by lsu480
Downtown Scottsdale
Member since Oct 2007
92876 posts
Posted on 11/15/14 at 10:04 am to
Boom?
Posted by Tiger Ryno
#WoF
Member since Feb 2007
103069 posts
Posted on 11/15/14 at 10:06 am to
How much you need baw?
Posted by crimsonsaint
Member since Nov 2009
37250 posts
Posted on 11/15/14 at 10:22 am to
She can join the national guard and not have to pay back a penny.
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