Hello! My partner has somewhere around $500k in both federal and private student loans (most of it is federal). The payments were in forbearance until recently but that has now expired. The new payments are more than her income most months so we need to figure out what our options are. I am guessing that we may need an attorney just because of the size of the debt.
Some additional context:
- My income is significantly higher than hers so we file taxes as MFS to keep my income off the radar for IDR purposes.
- We filed for chapter 7 bankruptcy in 2022 but of course it did nothing for student loans.
Any help or referrals to a professional that would be greatly appreciated!
hundreds of thousands in student loans and need some direction
byu/southern_discomfort inStudentLoans
Posted by southern_discomfort
3 Comments
How much does she make? How much do you make? Does she have the option of PSLF? What does the monthly budget look like? What do the expected loan payments look like? What is the split between federal and private? What are the interest rates? When did she enter repayment?
Why do people post looking for advice while providing literally zero information that anyone could use to help them?
Since you provided *literally zero* helpful information. I’ll make up my own to work with. You make 1 million per year. So tighten the budget and pay her loans off in one year and you’re done!
People need information to be able to help.
First and foremost, has she applied for an IDR plan for the federal loans?
How do you expect anyone to help you without disclosing the actual numbers?
This is a real question. I’m genuinely curious how you could have an education this expensive and not understand why this would be a problem.