Have you ever heard of someone asking you to STOP making payments on money owed?
This program basically says that you make 120 on time monthly payments and whatever balance is left after that will be forgiven. 120 monthly payments = 10 years. I am working my butt off to pay off my student loans as soon as humanly possible by following Dave Ramsey’s plan. As of today, I’m 5 months in focusing on solely my student loans. I refuse to wait 10 years to be out of debt.
Although you are currently making payments on an eligible repayment plan, you will have little or no balance to forgive after making your required payments.
What should I do?
You need to change your repayment plan as soon as possible to ensure you have the highest possible balance to be forgiven.
Have you had a similar experience with this program? Comment below!