Student loans and interest

[ame8199]

My student loans are included in my Chapter 13 and I know they are not discharged. My question....Is interest still accruing and will keep accruing for 3 years? or are they at a stand still? Just curious what I will owe on them when all is said and done. Thanks!

[NoTomatoCan]

Most likely they are sitting there, collecting interest.

Most federal student loans are allowed 3 years of hardship deferment. You must be current on your student loans to get a deferment, and - this is very important - you must have asked for a deferment. Financial hardship is a valid reason for deferment.

Most often, during a bankruptcy (especially a 60 month CH13) the loans go into a Forbearance. This actually can happen automatically if all you do is include them as a creditor in your CH13 BK. During a forbearance, they continue to accure interest.

There seems to be very little consistency on how student loans are treated from one district to another. This is just a general overview (coming from someone with a LOT of student loan debt). Your particular situation may vary.

[ame8199]

I did include them in my bankruptcy. I added up my student loans and I owe already 95k, if they are sitting here accruing interest, I can just imagine how much I will owe when Im done with my 3 years.

I owe 95k and Im not even a doctor (Im a teacher). I just got stupid with loans and took out private loans just to live on so I didnt have to work.

[NoTomatoCan]

I am right there with you. Just filed and my total is at $88k. (Down from $106k when I finished school). My wife has another $60k, so our total student loan debt is just under $150k. My $88k will magically turn into about $99k after five years. Good times. Thankfully I consolidated at a great rate (2.5% fixed). Still sucks.

Are these federal student loans or from a private lender? As a teacher, have you looked at the graduated or income dependant repayment plans (available from federal student loans)?

[ame8199]

yes I can get 12k forgiven though a teacher forgiveness program though the federal government, but I have to be teaching for 5 years (working on my 3rd)

I have most of them through federal and rest is in private funds.