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Author Topic: Private Loan Drama  (Read 2030 times)

Offline Molly

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  • Posts: 5
  • PC Status: Applicant
Private Loan Drama
« on: March 14, 2014, 01:48:51 PM »
I'm looking for a company to refinance with that will defer or forbear my private loans during service. Anybody have any luck?

I'm all set to go but if these loans don't get deferred or forbeared I don't know what to do.   

Offline shawn

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    • Pack.It.Up Adventures
  • PC Status: RPCV
Re: Private Loan Drama
« Reply #1 on: March 14, 2014, 06:12:10 PM »
Depending on what your monthly payments are, peace corps does allow you to have money taken iout of your accrued readjustment allowance each month to pay for things like loans. I would check with your recruitor or placement person/whatever they call that now.
PCVL - Rwanda 2010-2013
NPCA Serving Volunteer Advisory Council

Offline RPCVro

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  • PC Status: RPCV
Re: Private Loan Drama
« Reply #2 on: March 14, 2014, 06:51:01 PM »
Financial obligations are considered a legal issue, so you need to contact the legal team at the placement office. Their contact info (email and/or phone) should be somewhere in your portal.

Offline shawn

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Re: Private Loan Drama
« Reply #3 on: March 14, 2014, 07:02:00 PM »
You people and your new fangled portals and streamlined processes and what not. <insert back in my day comment here>
PCVL - Rwanda 2010-2013
NPCA Serving Volunteer Advisory Council

Offline RPCVro

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  • Posts: 49
  • PC Status: RPCV
Re: Private Loan Drama
« Reply #4 on: March 14, 2014, 07:25:01 PM »
Psh, not MY newfangled stuff. I applied back in the paper days. I think the digital platform just went live less than 2 years ago? Heck, I barely got 4 weeks between invite and staging. Now people get 4 MONTHS!

Offline RetiredFed

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  • Posts: 27
  • PC Status: Applicant
Re: Private Loan Drama
« Reply #5 on: March 16, 2014, 11:33:03 AM »
4 months?  I got 8.  Leaving in September to Peru.  Yahoo!

JMor

  • Guest
Re: Private Loan Drama
« Reply #6 on: March 17, 2014, 07:18:15 AM »
If you plan on staying in public service work for awhile then this loan forgiveness program may be worth it for you. I know that you would have to be able to consolidate whatever you have to Direct Loans (quite a process, but my husband and I were both able to get it done) and once you get there all you have to do is get set up on the Income Based Repayment Plan (which will give you payments due of $0 for the entirety of your PC service)
http://studentaid.ed.gov/repay-loans/forgiveness-cancellation/charts/public-service

Offline RPCVro

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  • Posts: 49
  • PC Status: RPCV
Re: Private Loan Drama
« Reply #7 on: March 17, 2014, 07:58:00 AM »
I found a news story from about a year ago that features this nonprofit offering student load counseling for free. Might be worth checking out.

http://www.clearpointcreditcounselingsolutions.org/credit-debt/student-loan-counseling/