To defer or pay?

[iswmle]

I spoke with DirectConsolidation and THEY said that if I consolidated all my loans I WOULD be eligible for the IBR, however Fedloan said my loans that did not meet the cut off would NOT be eligible for IBR. So confused!!!

[jacko]

Are your IRA's and 401k off limits to seizure if you default on Federal student loan(s)?

[iswmle]

Default?? That's not an option I am even remotely considering... My BK is almost 1 year old, my defaulting days are over.

EdFin said that ALL of my loans qualify for the IBR program. Apparently the guidelines to what loans are allowed within IBR/ICR is dependent on the company. I thought the guidelines were the same across the board.

So with my FedLoans I have about 7 loans, one of which is direct and would not qualify for IBR (would have to do ICR). I am wondering if I could just consolidate my Fedloans so I can get ALL my those under the IBR program? Would they allow a consolidation considering there is only one loan company I would use? Or should I consolidate both FedLoan and EdFin and do that IBR program? The downside to that is with EdFin I am eligible for a lowering the interest even further than what it is now but I would lose that if I consolidate.

[iswmle]

Faxed off my IBR request for FedLoans. Crossing my fingers. Trying to consolidate EdFin but Direct Consolidation is not recognizing my pin, so I may have to print the stuff out and fax those off as well. My friend said I should just put my loans in forbearance. She said she had hers in forbearance for years until she missed her time to do reapply for it, now they are trying to garnish her wages. Should I put it in forbearance or just keep doing what I am doing?

[iswmle]

I am now on the IBR program with EdFin. Process was painless! Faxed the info in on the 26th, checked the status today and she said I am on a $0 payment for 12 months. She did say I can go ahead and make payments, anyway. I have been real pleased with how EdFin has been easy to work with. Now I just need to finish consolidating FedLoans...

[Abbie64]

If you are considering consolidation i think it would be best to compare consolidation loans online and find out the best plans to suit your exact situation, where you can recieve advice and be provided with solutions for you and your loans in order to get you back on track.