Debt Reduction- Advice On Credit Card Debt Reduction, Debt Reduction Services, And Debt Reduction Plans

Adam asked:


The College Cost Reduction and Access Act of 2007 established a program whereby those with high amounts of student loans can have portions of their debt forgiven after 10 years while employed in the “public service” field. My question is, with the economy as it is and state/federal deficits getting quite high, will this program exist for long? People won’t even begin to use it until 2017, and part of me thinks that in the years to come, the government won’t be able to afford forgiving that kind of personal debt, tax free.

Here are some links on the subject:

http://www.finaid.org/loans/publicservice.phtml

http://www.nytimes.com/2009/05/27/your-money/student-loans/27forgive.html?scp=3&sq=glater%20and%20kentucky&st=cse

Miles Moralas

Warning38 asked:


I am attending a community college right now (2010-2011), and will attend at the same institution in the 2011-2012 year as well. I have received $6,300 in financial aid from the college including the Federal Pell Grant (5,500 this year) and a Federal ACG grant (750 this year). I’m not sure how my EFC looks but it should be less than 2,000. Just an overlook on my financial standings.

I will be transferring to TCU full time and looking at about $60k+ in tuition in order to attend the business school there. Total expenses are showing in between 80k and 90k, give or take particular choices in room/board. I have a list of several Federal/Texas grants that I meet the criteria for, but how many grants will I most likely receive? Below is a list of everything TCU/myself meet:

(Name/Max amounts per year)
Texas Pell Grant – $4,731
Fed. Pell Grant – $5,500
SEOG – $4,000
TEGP – $3,808
TCOG Program – $4,731
TEXAS Grant (not the pell) – $6,808

and also the Tuition Reduction for Students Taking More than 15 Hours.

So again, what is the likelihood that I will receive many of these? If I received all of these then I would be cleared entirely and debt free, but obviously that doesn’t really make much sense in the scheme of things.

Sources for Aid/Amounts @ www.collegeforallTexans.com

Thanks a ton to anyone who knows what they’re talking about.

Rodrigo Butt

Howdy Girl asked:


I have been through my school’s website, through the National Student Loan and OSAP websites, web forums… my question isn’t answered anywhere, and I need help!

In January I noticed that $250 had been taken from my bank account under a strange name I didn’t recognize. I figured out later that it was my OSAP payment, but I was still in school and didn’t even know they were going to start billing me. I was a part-time student, but had to switch to part-time studies at last minute due to a strike at my school which forced me to lose some of my courses. I was living in my own apartment (roommate bailed) and could barely afford my own expenses let alone an extra $250/month. I also have to pay for medication and see a psychiatrist regularly which is very expensive but necessary, which makes things even more difficult. I was working a part-time job, and also started doing some **** modeling and selling my stuff on the internet to pay off my loans. I figured I just had to live with it and I would find ways to come up with the money. Then I got a good job, but my contract recently ended and I am now unemployed, desperately seeking work that pays me enough to live on. (There are lots of jobs available that pay minimum wage at 10 hours a week, but its a joke — that barely covers just the lone payments!)

Recently I learned about debt reduction and interest relief, and I looked on line to see how to apply. After being referred from website to website, I found that one of the requirements to apply was that I have to have signed my Student Loan Consolidation forms. I never received these forms! I even checked my OSAP account and I am signed up for electronic notifications rather then mail notifications, but I searched back through my inbox and have received nothing from them. I cannot find anywhere how to apply for these forms. I haven’t called yet because I am really emotional about this and I know I’ll break down on the phone. I’m not even sure what to do, or what to ask for, or what I’m eligible for.

Has anyone been in this situation, or know if I have some chance of debt reduction? There is no family or spouse in my life who I can receive any support from. If anyone even has any information about where to get Consolidation Forms, that would be really helpful too.

Lemuel Jacquet

farsited_1 asked:


?Hay programa federal o provincial que podr?a ayudarme a manejar mi pr?stamo de $15000 estudiantes de la confianza de TD-Canad?? Fue sacado en el a?o-2000.

Ive hablado con algunas personas sobre las varias opciones dadas a los individuos que han tomado al estudiante presta hacia fuera del gobierno provincial y federal de Canad?. Algunas de las opciones dadas est?n pudiendo solicitar la relevaci?n de inter?s si usted no est? haciendo bastante dinero y est?n pudiendo eventual solicitar la reducci?n de deuda despu?s de 5 a?os.

Creo que saqu? este pr?stamo del estudiante antes de que esos programas estuvieran en el lugar. Co-fue firmado por mis padres en ese entonces porque era solamente 18 o 19, pero est? llegando a ser muy dif?cil manejarlo todo y mis padres est?n luchando financieramente sin tener que tambi?n ser responsables de esta deuda que est?n compartiendo conmigo porque fui a postsecundaria.

?Tengo opciones con excepci?n de pagarla apagado por completo con todo el inter?s durante los a?os pr?ximos 5+?

Margarito Mandarino