First person in my family to get a Bachelor’s degree in 2012 on a mix of scholarships, grants, unsubsidized and subsidized student loans. Got a JD in 2018 on scholarships and grad plus loans. Just finished my PhD this year on grad plus loans. All of the loans are on PAYE plans and no payments to start until 2027.
Work and my plans haven’t gone as I expected and currently working in a job that isn’t in any of my fields of study and will never pay what I thought I would be able to achieve. My husband became disabled while trying to achieve a Master’s degree and can’t work but because he never paid into the system and because he married me, doesn’t qualify for SSI. His student loan debt is at $75K and now in default.
I can’t even make all of our bills on my own and have to have help to make up what I can’t as well as be able to eat. My student loan debt is insurmountable at $435K.
In a couple of years I can work to get his student loans discharged for medical but I don’t see a way out for me and with PAYE and Public Interest going away I don’t know what to do. All of my loans are at different interest rates and each on their own PAYE plan. I was told that consolidation would be a mistake but my understanding is that with this Big Beautiful Bill I won’t have a choice but consolidate. I wanted to go to work for the federal government but the department that I wanted to go to work for is being dismantled and those jobs are just gone. I know I need to try do something with my loans before June 2026 but I just honestly don’t understand all of the student loan financing options and have no idea where to start with all of this. I am absolutely drowning and just need advice. Thanks for the help and for listening to my rant here.
Drowning in Student Loan Debt with NO Idea About What to do with the Big Beautiful Bill
byu/Perfect_Possible4689 inStudentLoans
Posted by Perfect_Possible4689
3 Comments
Step one is getting your husband’s loans out of default.
Next, a job that does qualify for PSLF seems like the best way to go. It doesn’t have to be the federal government (and yeah, not the best time for that goal, glad you recognize that.) It doesn’t have to be in your field.
Then, working carefully to identify the best strategies to get you through the 10 year commitment. What reason did people give for not consolidating? I think you should look further into this–you may not need to, but it may help. There are other strategies too–you’ll want to look into how you file taxes. Married filing separately may get your husband’s loan repayment amount down to nearly nothing, but would that interrupt other tax breaks/benefits? Things like that.
Living by a strict budget will be necessary, but at least you have some time to figure out the steps to get there before your repayments start. RAP likely will be the best option for you, though yes, not as good as SAVE.
Why aren’t you practicing law?
I would suggest possibly getting a divorce on paper only 😩😢
It will allow discharge of his loans (disability)and SSI (source of income)
and not count your income
Just maybe🙏🙏🙏talk to a lawyer that specializes or is well versed in the RARE DISCHARGE of student loans
Your entire situation seems like a severe hardship situation that would possibly be the rare exception 🙏🙏🙏🙏🥹