My main questions here are whether there are stipulations about when the loan was taken, when the course of study finishes, and if having a cosigner affects whether one qualifies.
I'll just give my data and see if anybody can find this out for me: Say I have a student loan from Sallie Mae that was taken around January of last year, for a course of studies that terminate in October. One thing I'm wondering, I definitely make (way) less than the income, in fact I make pretty much nothing. But in order to get a loan in the first place I needed to have my parents co-sign, and I'm pretty sure they make more than 125k. Does the income of a cosigner come into play here, or can I still get $10k cancelled?
I dont remember even being asked about parents income. I'm 30, does that even apply to adults my age?
Your parents income is only considered on FAFSA if you’re like under 22 years old or something. You should have qualified for pell grants and federal student loans with no co-signer.
Damn I feel so shitty
I feel you. I have a friend whose dad owns a business and he didn’t qualify for a bunch of the free grants because of that. Meanwhile, that same dad had thrown him through some drywall and kicked him out about 6 months prior to him applying for FAFSA and the guy was basically unhoused. So he was definitely not going to receive a contribution from his parents. But he was listed as a dependent on their taxes so he had to list them.
maybe you can look into converting them?
I'll look into that, not sure if it's an option. The classes I took should let me get a job with the income to repay the loan so it's not the end of the world, just weird that it's like "hey were canceling some student debt, but no, not you. You took the wrong loan, enjoy paying it off" lol
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It shouldn't. No idea why they would have pushed you to a private loan.
They probably “partnered” with the institution who offered the loans
Edit: oh it was Sallie Mae lol