Student Loan Defaulters ONLY

HmarieD · Jan 21, 2011

I have not, although I've come close. I have found they will really will work with you if you make any effort at all. I'm sure you are aware your nursing license will be disciplined if you default on a student loan.

smily nurse, BSN, RN · Jan 21, 2011

..... and some institutions frown upon it..... it is a ? on some job applications..... so work with them

Horseshoe, BSN, RN · Jan 21, 2011

Student loans don't go away. Even if you file for bankruptcy, you will still have to repay the student loan.

keekeedt · Jan 21, 2011

My husband just applies for a forbearance and he gets approved everytime. You should try getting a forebearance.

hope4now · Jan 21, 2011

are they government loans? if so, there are so many options for forbearance due to financial hardship. also, if you are taking just 6 credits of school, you can defer your student loan payments. if you can take a few courses, maybe you can both advance your job skills and postpone your student loans until things are better.

locolorenzo22, BSN, RN · Jan 21, 2011

you only get so many months of deferment and forbearance....try to work on paying them if you can. talk with your lender

ckh23, BSN, RN · Jan 21, 2011

Student loans don't go away. Even if you file for bankruptcy, you will still have to repay the student loan.

Depends on the type of loan, but most are not eligible for discharge in bankruptcy. I would try to repay them as best as you can because as others have said they will not go away. Eventually if you default you can be sued for the money and you will most likely lose. If you lose you will get a judgment against you and they can wipe out your bank accounts and depending on where you live they can start garnishing your wages.

gettingbsn2msn, MSN, RN · Jan 21, 2011

It is not just student loan defaults that will get you fired at our hospital--it is any default where they try to garnish. This why I cringe when I see new grads pull up in their brand new shiny cars. What they forget is that we get called off all the time. Then when they can't pay the bill the lender comes calling at the hospital. Strike 2 on a garnish and you are out. Nurses are expected to be looked up to and with that responsibility comes paying ALL bills on time. We have already been warned on student loan defaults. That is why you will see me driving my 1991 honda.

hope4now · Jan 21, 2011

you only get so many months of deferment and forbearance....try to work on paying them if you can. talk with your lender

Still, forbearance and deferment is preferable to **defaulting.** do whatever you can not to default. :rolleyes:

roser13, ASN, RN · Jan 21, 2011

I recently read a news story about a family practice MD who incurred roughly $200,000 in med school loans. Not an unreasonable amount, as I understand it, for med school.

She defaulted multiple times, ignored collection notices and now owes some astronomical amount that I can't remember. Between collection fees accrued every time she missed payments and accumulated interest, her amount due multiplied many times over. What I mainly remember is that her restructured repayment plan will continue until she's age 96.

Spode · Jan 21, 2011

Thanks, I have done forbearance and deferrment with Sallie Mae. I just sent them 400.00 which is all I had. I only work PRN because FT will cost me $ and if I work to many hours, my children will lose their state insurance. I reapplied to grad school and was denied admission. I know my credit will be ruined but at this point, it already is. What little money I have goes to grocer

ies diapers etc. I have no insurance to pay yet I need a stress echo next week.