Ask Terry Questions Student loan after 20years!

Student loan after 20years!

By Terry Savage on March 15, 2024 | College Savings / Student Loans

I am 61 female have been paying on my student loans for 20 years. I have $12,000 left on two loans through Navient. I paid on my loan all through Covid. I did not miss any payments. I called a year ago and they put me on a payment plan from $115 a month down to 30 which was financially helpful at the time, but I did not know anything about this recertification. I thought this was a one and done. I am usually very on top of these things. This obviously got by me because when I called them the other day when they took out the higher payment amount they told me I would have to go on an income based repayment plan. If you’ve been paying on your student loan for 20 years, is there anything available that will forgive that loan? Navient sent me a new agreement to sign and to send my W-2 in and the new payment would be on that information. I don’t like that. I don’t know what the payment would be. How do I know it won’t be more ? there is an option to sign the form and not send in your financial information at this time but again, I just have no idea what the payment amount is going to be if I can’t get out of these loans

I appreciate your guidance on if I go ahead and send this agreement in since my payment went back up to $115 a month from 30 and try to see if the income based amount is lower, or is there any forgiveness paid on this loan for over 20 years now?

Have a great day

Terry Says

This whole student loan thing is a mess. And I’m not sure you can trust what they say– the servicers have been messing things up.
I strongly recommend you contact attorney Rae Kaplan, who specializes in student loans and the new SAVE plan, which will likely reduce your payment to ZERO and get the balance of your loan forgiven completely if you’ve been paying for 20 years.

Her website is And her phone is: 872.206.9655

I’m working on a column with Rae right now, as well as a TV segment for WGN in Chicago.
I trust her 100% to fix these student loan problems.



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