So, that's it then. I don't know if this will interest anyone, but my forbearance with Access Group is up. Now, I guess what can be done is that you can get an extra 6-months, in a kind of forbearance appeals process, by jumping through any number of hoops, including providing a detailed breakdown of your income and expenses, a copy of your most recent W-2 and 1040 tax return, a list of federal loans in deferment or forbearance and (most important of all, she says) a letter detailing the "concrete events" would allow you to begin repayment.
If you have any suggestions for what I might include in this letter I'm going to send to Access Group, I would welcome any and all suggestions. In fact, if you want to write the letter for me, I would be pleased to have some valuable career counseling (for once in my life). If not, well, then I guess I'll have to reach deep into my well of sarcasm and double-speak.
Foreign lands, here I come!
Wednesday, June 9, 2010
I'm putting this on our front page because many of our readers are in the same situation and would like advice on where to go from here or how long they can defer their loans while planning their escape, etc. I do not know a lot about loan repayment options except that I consolidated all of my federal student loans and am under the Income Based Repayment (IBR) program. I think that is the best plan for most of our readers. As for how long you can defer your private loans, one reader said you can defer for unemployment 3 years or apply for economic hardship. Does anyone else have a better suggestion? Please share.