What is the name of your state? Pennsylvania
I currently have a consolidated student federal loan from DIRECT LOANS which is the federal loan payment center. Unforetunetly I consolidated my loans at a time when the loan interest rate was at a much higher rate then it is today. My rate is at around 7% and the rates today are around 3%. I have been told there is nothing I can do about it since I already consolidated my loan. I pay my loan by direct withdrawl from my bank account which i have been told that when I make 36 on time payments the rate will be reduced by 1%. I am about 1/2 to that point. However here is the basis to my question: I became ill sometime ago. I suffered two heart attacks and also have severe injuries to my lower back and cervical spine. I had a lamenectomy to my lower back and then needed a cervical spine fusion to my neck. During my cervical spine fusion in 2004 I didn't come out of the anesthesea and remained in a coma for 25 days. I am also diabetic. I am currently on total disability. The social security disability people said I could work while under disability and they recommended the Internal Revenue Service as a seasonal term employee. I was able to work from Feb to May of 2005 but since this was a seasonal position only I was laid off at the end of May. This was only a clerical position and because of my disability i had to take severasl days off. The advantage was that while employed I was able to get health insurance which helped deferred the cost of my perscription costs. I am on 11 different medications. It has been over two months since I worked at all. Due to my lack of knowledge regarding the federal student loan program I was not aware that since I am Totally disabled I am entitled to get foregiveness on my student loans, either temporarily or permanently. I have been advised by my physicians, including my cardiologist, my spinal surgeon, primary care physician and psychiatrist that a permanent position would be extremely dangerous to my health. I have never missed a payment on the student loan but only because of help from friends and family members. Before I contact the loan carrier about this I would like to speak to someone who has knoweledge of this to get an honest answer.
I currently have a consolidated student federal loan from DIRECT LOANS which is the federal loan payment center. Unforetunetly I consolidated my loans at a time when the loan interest rate was at a much higher rate then it is today. My rate is at around 7% and the rates today are around 3%. I have been told there is nothing I can do about it since I already consolidated my loan. I pay my loan by direct withdrawl from my bank account which i have been told that when I make 36 on time payments the rate will be reduced by 1%. I am about 1/2 to that point. However here is the basis to my question: I became ill sometime ago. I suffered two heart attacks and also have severe injuries to my lower back and cervical spine. I had a lamenectomy to my lower back and then needed a cervical spine fusion to my neck. During my cervical spine fusion in 2004 I didn't come out of the anesthesea and remained in a coma for 25 days. I am also diabetic. I am currently on total disability. The social security disability people said I could work while under disability and they recommended the Internal Revenue Service as a seasonal term employee. I was able to work from Feb to May of 2005 but since this was a seasonal position only I was laid off at the end of May. This was only a clerical position and because of my disability i had to take severasl days off. The advantage was that while employed I was able to get health insurance which helped deferred the cost of my perscription costs. I am on 11 different medications. It has been over two months since I worked at all. Due to my lack of knowledge regarding the federal student loan program I was not aware that since I am Totally disabled I am entitled to get foregiveness on my student loans, either temporarily or permanently. I have been advised by my physicians, including my cardiologist, my spinal surgeon, primary care physician and psychiatrist that a permanent position would be extremely dangerous to my health. I have never missed a payment on the student loan but only because of help from friends and family members. Before I contact the loan carrier about this I would like to speak to someone who has knoweledge of this to get an honest answer.