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So as far as I understand in order to qualify for the 10% IBR-A and forgiveness after 20 years (As opposed to 15% and 25 years) we need to have taken one new loan in 2012 (done) AND be a new borrower at the start of 2008 (problem)?
I started my Pharmacy school in 2009 and have over 100K in debt which I would like to consolidate BUT I have a ridiculously small undergraduate loan of about 6K that I took out in 2002! Will that stupid undergrad loan prevent me from being eligible for 10% IBR or can I just consolidate the newer grad school loans?
What if I completely paid of the undergrad loan before consolidating the grad loan?
Last but not least, if the undergrad loan truly does prevent me from being eligible are there any rumors that the law might change to be more inclusive (now with Obamas victory)? Meaning is there any reasoning to wait a little longer with the consolidation?
Ps. The undergrad loan is with a different servicer (Nelnet) but I believe still a government loan if that makes any difference!
I started my Pharmacy school in 2009 and have over 100K in debt which I would like to consolidate BUT I have a ridiculously small undergraduate loan of about 6K that I took out in 2002! Will that stupid undergrad loan prevent me from being eligible for 10% IBR or can I just consolidate the newer grad school loans?
What if I completely paid of the undergrad loan before consolidating the grad loan?
Last but not least, if the undergrad loan truly does prevent me from being eligible are there any rumors that the law might change to be more inclusive (now with Obamas victory)? Meaning is there any reasoning to wait a little longer with the consolidation?
Ps. The undergrad loan is with a different servicer (Nelnet) but I believe still a government loan if that makes any difference!
