Deferring my student loan


Law School	Frugality	Personal Finance	Productivity	Career

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This summer I consolidated my student loans with Nelnet in order to lock in on that 4.25% interest rate. For some reason, though, Nelnet did not defer my subsidized loans on account of me being in law school. I didn’t find this out until last week when I got a letter saying my first payment was due at the end of the month.

So, I have to fill out this form and provide proof that I’m really in school to get my loans deferred. I still have to pay my unsubsidized loans. That should shave off $70 in my monthly payment. I can then take that $70 and add it to my wife’s student loans. If we did that, over the next three years we would be able to pay off $9,576 of my wife’s $30,000 loan debt. Man… that doesn’t seem like much.

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Brett McKay | 01 Nov 06 | Debt, Student Loans

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The Frugal Law Student is for anyone trying to mitigate their crippling debt. Me? I'm trying to mitigate the tens of thousands of dollars I've taken on in student loans. Join me on my quest to avoid taking on more debt, paying off some of the debt I have, and trying to survive law school while doing it. Read more about The Frugal Law Student, check out some of the best articles, or become a subscriber via RSS feed or via email

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