Will this work for putting off $90,000 in student loan debt indefinately?

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I have decided not to got to medical school after six years at a top flight University (two years as a grad student getting my MS in physiology). In fact I've decided to become a stay at home Dad (my wife is in CRNA school at Baylor). The problem is that I owe $90,000 and currently earn about $35,000 which means that I don't qualify for income forbearences. My plan is to enroll for six hours at a local public University taking online Independent study courses pursuing a second undergraduate degree. At $150.00 per credit hour I can take twelve credit hours per year (which you have up to ten months to complete) for only $150 per month (as compared to my student loan minimum payment of about $900.00 per month). Everything, I can find on the subject indicates that I could do this indefinately (although once my wife graduates from CRNA school we will start paying the loans back). What am I missing and couldn't others with high levels of student loan debt (who won't end up with a high salary) use this strategy?

Originally Posted by Roland Deschain

I have decided not to got to medical school after six years at a top flight University (two years as a grad student getting my MS in physiology). In fact I've decided to become a stay at home Dad (my wife is in CRNA school at Baylor). The problem is that I owe $90,000 and currently earn about $35,000 which means that I don't qualify for income forbearences. My plan is to enroll for six hours at a local public University taking online Independent study courses pursuing a second undergraduate degree. At $150.00 per credit hour I can take twelve credit hours per year (which you have up to ten months to complete) for only $150 per month (as compared to my student loan minimum payment of about $900.00 per month). Everything, I can find on the subject indicates that I could do this indefinately (although once my wife graduates from CRNA school we will start paying the loans back). What am I missing and couldn't others with high levels of student loan debt (who won't end up with a high salary) use this strategy?

I think you're good. When I went back to school my loan was suspended while I was in school. One thing...you don't get the 6 month grace period a second time, and I'm not sure if your interest accumulates while in school. I can't remember, though I think it doesn't?

the subsidized loans don't accumulate interest. The unsubsidized ones do.

Originally Posted by Roland Deschain

I have decided not to got to medical school after six years at a top flight University (two years as a grad student getting my MS in physiology). In fact I've decided to become a stay at home Dad (my wife is in CRNA school at Baylor). The problem is that I owe $90,000 and currently earn about $35,000 which means that I don't qualify for income forbearences. My plan is to enroll for six hours at a local public University taking online Independent study courses pursuing a second undergraduate degree. At $150.00 per credit hour I can take twelve credit hours per year (which you have up to ten months to complete) for only $150 per month (as compared to my student loan minimum payment of about $900.00 per month). Everything, I can find on the subject indicates that I could do this indefinately (although once my wife graduates from CRNA school we will start paying the loans back). What am I missing and couldn't others with high levels of student loan debt (who won't end up with a high salary) use this strategy?

you could just ask for a general forbearane, they are pretty good about those. I asked for one since I was applying to medical school, even though I'm earning enough money now to afford the monthly payments and it was granted for 8 months no questions asked! G'luck.

I'm not sure on the student loans, but when I saw your username I had to post.

1000 Cool Points to the Gunslinger.

CQ