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Thoughts on my plan, please?

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recoveringfrombk7
Established Contributor

Re: Thoughts on my plan, please?


@Girlzilla88 wrote:

Many of my friends have paid or are still paying double or more off the original amount and with the score range the OP is in I don't see them getting a good 3% or so rate I worry they would opt them for a higher rate and depending on how large the loan is for their school that may hurt more than help.     Of course removing the collections and getting other things in order first may improve the chances down the line for a really good rate etc and who knows maybe student loans are more relaxed these days so low scores can get a low apr I just don't think that is the case?!


I was able to refinance predatory 12%+ loans to < 6% freshly out of BK when lending rates were higher.  My score was 580.  You'd be surprised what OP may qualify for.  Also, if OP uses federal instead of private loans the repayment can be income-based so that you don't fall behind, etc.  Student loans can be a great tool, but they require an aware borrower and an endgame.











Desired BK recovery line up complete 7/12/2021. Planning to garden until 8/2023 and potentially try for AMEX.
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