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Repayment Of Student Loans

Norma Said:

How do I write a letter of appeal to wage garnishment for repayment of student loans?

We Answered:

To be honest with you, The U.S. Department of Education or any other student loan agency doesn't care. As long as you are making money, they can take a little from your check to pay back the loan. They will get the money one way or another. I honestly think appealing will not solve this problem. You may need to consolidate those student loans and PAY them each month. Advise them what you make and your financial hardship and maybe they will work with you on your monthly payment. If you decide to consolidate and still find it hard to pay you need to sat something up for a forebearance or deferment. By consolidating, this will help improve your already ruined credit.
Check with a company that consolidates defaulted loans (William D. Ford is a good one).

Sherri Said:

One question, what happens to all the money we have paid into repayment of student loans?

We Answered:

The lender may go away but the loan will just get passed to someone else.

Howard Said:

Is it possible to sue a school for repayment of student loans?

We Answered:

If it were that easy, then people would be suing credit card companies and winning. And have you ever heard of that? Nah. If the lender paid your school with your loan, then they have a promissory note on file. Lenders won't release funds without a promissory note. The promissory note, signed by you, is a promise to repay the loans. Therefore, you are legally responsible for them. If the loans were Stafford loans, then the federal government can and will come after you if you don't pay on them. They can and will deduct money from your paychecks, keep your tax refunds, and sue you in federal court if it gets bad enough. Also, declaring bankruptcy will not affect student loan repayment. You'll still be responsible for them. Suing a school would probably be a waste of time and money. The school will most likely win and then you'd have to pay back your loans and pay for the lawsuit. You'd be better off just paying the loans back. If you can't do it right now because of finances, you'll have to speak to your lender about a deferment.

Alan Said:

I am a CPS teacher. How can I get help with repayment of student loans.?

We Answered:

The best place to start is with your teacher's union or the human resources department of the school district. Often they have the information needed for programs like these or if the school district qualifies. Most of these programs will not touch you if you have consolidated your student loans. I will include some links for motr information on the subject. Good luck!

Claire Said:

Questions about Income based repayment on student loans.?

We Answered:


Income-based Repayment is a newly legislated feature of certain federal student loans - the Stafford, the Grad PLUS and the Direct Consolidation loans. It is not available for Perkins Loans or Parents' PLUS loans, nor is it available for Direct Consolidation loans that included Parents' PLUS loans.

IBR is definitely not available for any private educational loans.

I'm sorry for the disappointing news. For more information, you can learn about the IBR payment plan here:

Clayton Said:

I signed up for income based repayment for student loans through the government. Is this accurate?

We Answered:

Income Based Repayment is a new repayment plan for the major types of federal loans made to students. Under IBR, the required monthly payment is capped at an amount that is intended to be affordable based on income and family size. You are eligible for IBR if the monthly repayment amount under IBR will be less than the monthly amount calculated under a 10-year standard repayment plan. If you repay under the IBR plan for 25 years and meet other requirements you may have any remaining balance of your loan(s) cancelled. Additionally, if you work in public service and have reduced loan payments through IBR, the remaining balance after ten years in a public service job could be cancelled.

In a nut shell, you do not make enough, therefore it does not look like it could calculate it.
here is a link to an income based repayment plan calculator:…

William Said:

Does the Air Force offer any time of student loan repayment? Can the GI Bill be used to pay off student loans?

We Answered:

Air Force has a $10,000 max for loan repayment. They might not tell you but if you choose the loan repayment you will not get the GI bill. If you choose the GI bill they will take $100 out of your check every month to a total of $1,200.

Hope i helped

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