(Untitled)

[copperbadge]

This post was checked for broken links and updated in February of 2017, but some information may still be inaccurate. This is intended as a guide; if you find the information below is in contradiction to the government websites that are meant to guide you through this process, the government is (slightly) more likely to be accurate.So, I was

Comments

[lavenderspark]

What about if you're unemployed? Would any of that still work? I have a friend that is trying to pay off her grad school loans and can't find a job. She's been doing some freelance work, but nothing steady. I know she was trying to find a place to do a deferment, but I don't know how that worked out for her so I thought I'd pass this along to her if it will help...

[copperbadge]

If you're unemployed you should be in deferment or forbearance and not paying anything, but if you have the money, yeah -- IBR will definitely work. That's what it's there for. If you're making freelance-level wages, which I know are low, then you're going to get very low payments through IBR.

[eponymousanon]

I've been getting a lot of messages about financial hardship options. It all depends on whether her loans are from a bank (private lender) or the government.

https://www.dl.ed.gov/borrower/DefermentFormList.do?cmd=initializeContext

For Direct Loans (gov't) she should go to this page. It has the forms for applying for deferment based on w/e, she should look at the "economic hardship" or the "unemployment" deferment forms. If she's got private loans from a bank, the best thing she can do is walk into their office and ask to talk to a lending officer about her options.

[ravenofdreams]

I love you. You have no idea how hard this information has been to get; I've been trying to find it all, and no one is telling. You're wonderful. I'd make you cookies if I were close.
Oh man. *wanders off in glee*

[copperbadge]

It's super-difficult to find. Mum told me about it and I had to google random keywords until I found shit, and once I did I bookmarked EEEEVERYTHING until I could sort out what was important.

There's one government-based website about PSLF where literally it says "for more information go here" and the new page says "to apply go here" and it takes you back to the original page you were at. It's utterly ridiculous.

[brightly_woven]

When my mom went to college, you could pay for your private college outright if you worked something like 10 hours a week in the school year and got a factory job in the summer working 40/hr/wk--which were available in Milwaukee at least back then. Now I think you would have to work something like 93 hours year round to pay for a private school education. On average. (Said NPR sometime last year.)

At least they have programs like this and we have Sam to explain them.

Meg

[copperbadge]

Hooray! Good luck :)

[lalaith_niniel]

I work in financial aid for a state school (so PSLF will help me out) and I thank you for going through this and explaining it so well, 'cause lord knows, even with the resources I have, it was confusing as hell!