I am a medical student, currently half way through my MD degree (leaving 2 more years before residency).
I have about $151,000 in private student loans from my undergraduate degree that have exceeded the in-school deferment cap. I have about 1 month left on my forbearance allowance. Navient wants me to make payments of $1700/mo and are unwilling to compromise on anything below a payment of $1400/mo. While in medical school, it is almost impossible to hold a job other than retail (I currently work closing shifts at Target, ~30hrs/wk) because most of my time is dedicated to studying and focusing on school.
I applied for refinancing with SoFi, Earnest, and CommonBond, all rejected due to the fact that I have little/no income as I am in medical school. I also tried applying with a cosigner (bringing the combined income to about $100,000) with SoFi and was still rejected for refinancing. Per SoFi, the only reason I am being rejected is based on my income, as I have a credit score of 715 and have never defaulted on my loans. I have spoken with loan lawyers, refinance companies, and fellow medical students but have not found a solution.
My father is cosigned on about $84,000 of the private loans. My main goal is to ensure that the loans he is signed on do not default and screw him and his credit.
I am at the end of my rope and it seems to be burning as I climb. I don't know what else to do. Please help!!
Submitted June 04, 2018 at 02:56PM by darkemptyspaces https://ift.tt/2xKzwgc
