HI Meya,

I hope all is well. Thank you for providing the background on your student loans. I know it has been awhile since you have posted your message, I am very curious to see how the student loan repayment is going. I would love to hear your story, and help you in any way I can.

Once I came out of forbearance on my student loans (it’s been about a year now) I decided the best way for me to tackle the interest was to split my monthly payment in half right out the gate. My monthly payment is $290. Every two weeks or so I pay about $144-150; sometimes more if I can afford to. As I monitor my payment activity, I have noticed more and more going towards the principal balance vs. interest. Splitting the payment up like this helps since interest accrues daily. Paying it this way in the long run is going to save me thousands on interest.

Update: I am in the process of forbearance. I did not realize how hard it was to find a job until I stepped into the real world on my own. I am constantly hit in the face with "six years of experience" or "rejection(s)". I am a little discouraged, but learned to have patience. My lenders, Chase and Great Lakes has excellent customer care and offer many options for repayment plans. Once I find employment, I am going to change my status and find a suitable plan that will fit my budget. Until then, I am back in the "standby" bucket!
:

Thanks a lot everyone!!! What a way to put a smile on my face! Rwmtd, I always try to recommend everyone with busy life schedules to try online courses. I do not think I would have completed my educational goals by 2011 had I taken traditional in-class courses. It really helped out a whole lot (but irritating in the beginning). Try at least two semesters of online courses, I know you will master the platform in no time. It is convenient and will fit your schedule!

Hello Meya, Congradulations to you on your Master degree. What an accomplishment. You are an inspiration to me!! Now if I can just get restarted with mine

BJ (aka rwmtd)

AWESOME! You have worked hard and long to achieve a higher level of education. A "Master's Degree" is fantastic. Congrats! Impressed...

Wow, speaking of late replies Meya

[ATTACH=CONFIG]48[/ATTACH]
Congrats on your master's degree Meya! This is nothing to look small upon, whatsoever. A big accomplishment for sure.

Let us know how the consolidation works out.

Wow, speaking of late replies Meya! Well, I guess I would say, "Lord Help Me!"

Actually, I just completed my masters last week with the term considered complete on December 17, 2011. I have discussed a repayment plan with my husband and we are going to consolidate them (to the lowest bidder...lol), and try to rearrange other bills since my student loans are counted as a fixed debt. I have not received my letter with the actual payment amount and time length, but when I do, I will come back to this thread and let you know exactly how I plan to manage the installments.

With all the selling of our student loan accounts, I am lost for words...lolz! I had to contact one of my lenders because they kept sending me letters saying that my account was transfered here...then there....then here....then there....so I got confused and irritated. I had to search for everyone because my repayment status has kicked in and some of these banks do not update with the National Students Loan Clearinghouse (NSLS). I now qualify for in-school deferment because I started back again, but two of my financial institutions were not aware of it and do not check the NSLS.

So how will you pay you're student loans Meya? Or am i just as confused as you are?

With all the selling of our student loan accounts, I am lost for words...lolz! I had to contact one of my lenders because they kept sending me letters saying that my account was transfered here...then there....then here....then there....so I got confused and irritated. I had to search for everyone because my repayment status has kicked in and some of these banks do not update with the National Students Loan Clearinghouse (NSLS). I now qualify for in-school deferment because I started back again, but two of my financial institutions were not aware of it and do not check the NSLS.

That's amazing! I thought it would years and years to pay off. Good luck on your career plan Joeyman.

Thanks!

I payed off my private loan within 6 months. I still have about $1,800 in federal subsidized and unsubsidized loans. I plan on taking my time with those. Also, in the fall I'll be going back to school it sounds like. All my loans were for general education, now I am planning on furthering my career in health-care to a nurse or respiratory therapist. Currently I work as a Certified Nursing Assistant (CNA).

That's amazing! I thought it would years and years to pay off. Good luck on your career plan Joeyman.

You may me eligible to apply for a loan forbearance. This allows the National Service Trust to pay all or a fraction of the interest that accrued during your service with AmeriCorps. But I'm not sure if all student loans are qualified for the loan forbearance. Anybody? Are there other qualifications aside from being a volunteer?

Thanks belle! Oh, I thought once you're already a volunteer, it's easy. So there are still qualifications? Well, nothing really comes easy right?

Is it true that if you commit to AmeriCorps for a certain period, a certain portion of your student loan can be forgiven?

You may me eligible to apply for a loan forbearance. This allows the National Service Trust to pay all or a fraction of the interest that accrued during your service with AmeriCorps. But I'm not sure if all student loans are qualified for the loan forbearance. Anybody? Are there other qualifications aside from being a volunteer?

I will look into that for you. I am well aware that if you take a few courses in teaching credentials or volunteer your time with in local schools, they will forgive some of your debt. I am not for sure how much, but I sure did select that option for Summer 10'