Oklahoma Nesties
Dear Community,
Our tech team has launched updates to The Nest today. As a result of these updates, members of the Nest Community will need to change their password in order to continue participating in the community. In addition, The Nest community member's avatars will be replaced with generic default avatars. If you wish to revert to your original avatar, you will need to re-upload it via The Nest.
If you have questions about this, please email help@theknot.com.
Thank you.
Note: This only affects The Nest's community members and will not affect members on The Bump or The Knot.
Our tech team has launched updates to The Nest today. As a result of these updates, members of the Nest Community will need to change their password in order to continue participating in the community. In addition, The Nest community member's avatars will be replaced with generic default avatars. If you wish to revert to your original avatar, you will need to re-upload it via The Nest.
If you have questions about this, please email help@theknot.com.
Thank you.
Note: This only affects The Nest's community members and will not affect members on The Bump or The Knot.
More Student Loans...
Really, why does the interest rate matter? Pay the very minimum the government forces you to pay, then you die and the debt is forgiven - voila!
Student loan forgiveness, baby!
((I am not in anyway saying that this is what *I* would do but it does make me wonder why such ridiculous rates if they are forgiven when you die anyway))
Re: More Student Loans...
I'd guess that this situation applies to a super small percentage of people, right? I mean, student loans are typically short term (compared to say a mortgage, which consequently is an asset that is usually worthwhile for the lender to pursue) so the vast majority of people will pay them off before they die. Since student loans don't come with an asset, I can see how it might not be worth the administrative costs to pursue the debt.
Well, if you are paying 9% interest and have a large amount outstanding, the minimum monthly payments required by the government won't get close to touching the principle. You very well could pay on them until you die.
If you call up Sallie Mae right now and say it is a financial burden to pay on your loans and you can only contribute $30 a month, they will let you do it. I guess that's my point....you can drag it out as long as you want to and in that case...what's the point in making any effort at all to pay them off?
There's not a specified term limit on the loans? Mine were 10 years from the time I started repayment. They'll be paid off by that time if I pay the amount they set. I guess I'm missing something here.
Wouldnt you have to show some amount of documentation to prove the financial hardship to be considered for forebearance/deferral?
I thought 10 years from the time you start repayment was the time limit, too.
Kaylee & Cole 06.14.08
8/6/11 First 5k! OG&E Expo Run 34:47
9/3/11 Brookhaven Run 5k 34:18
9/17/11 Healthy Sooners Fun Run 5k 33:38
10/15/11 Susan G. Komen Race for the Cure 33:31
10/29/11 Monster Dash 5k 32:06 PR!
11/11/11 Veteran's Day Run 11k in Dallas 1:13:15 Instant PR!
1/28/12 Texas Half Marathon 2:38:03 Instant PR!
3/25/12 Earlywine Dash
I think they differ. One of DH's loans was 25 years, one was 10 years, and one was 12 years.
Definitely not ten years on my loan -
H knows some lawyers who have their loans on a 30-year note. He can't even fathom that in his head. 10 years, tops. Get it done and move on with your life.
Wait, if something happens to him, am I responsible for his loans? Crap.
No, if he dies, they go away (it hasn't always been like this). It is, however, the only debt that does not go away after filing for bankruptcy.