How To Consolidate Your Student Loans And Win!!

If it’s been a long time since you have checked on your student loan or if you are paying it and it seems that the government is giving you the sticker up your butt because you have decided to pursue your education, then you need to read this entire post. From my experience, I have learned to take advantage of many write-offs, and giving the sticker up the IRS’ butt! It is true what they say that you can write-off your student loans, your personal loans, and personal debt. The key is knowing what to write off and how to write it off.

I decided to put together this compilation of my journey with consolidating my student loans and paying them in a manner in which I win at the end.  After making some mistakes and fixing them with research and watching a large number of YouTube videos, I think I finally got it.

I filed for bankruptcy in 2017 on all my debts, but my student loans had to stay. Student loans cannot be deleted from your credit account, but in some circumstances, they can be removed if it has been sold to a third-party lender or transferred to a collection agency.

Anywho, I had to pay the debt and wanted to find a strategy that would allow me to win in the end. This is where MyEcon comes in. This company is a financial literacy company that has been around for seven years. It has allowed people like me to cashflow thousands of dollars each year back into their household. I joined MyEcon in July of 2017, and since joining, I have cash flowed over $10,000. This may sound unreal, but I assure you that it’s true what they say. The proof is in my story, and I have shared it publicly since I joined. If you have followed my facebook page, then you know all too well that I promote knowledge and truth.

As you work through the steps, you will find that your knowledge about your personal finances will increase. You will not only manage your student loan debt, but you will get strategies on how to fix your credit, improve your credit score, write-off your lifestyle to put more money in your pocket and learn how to create several income streams that will give you the lifestyle you want. I have to enclose that some of the links are affiliate links in which I will get a small bonus if you purchase a service. This allows me to offset any advertising costs and fees associated with sharing this information with you.  

  1. Download the Mint app on your phone. Create an account so you can add your student loans and other debt. This will show all your debt and your credit score. We are going to use this account to monitor your progress. This will put all your debt, income and savings under one app. It will not lower your credit score to do this. 
  2. Go to the national student loan database (NSLDS) and create a free account. This will give you access to every student loan you own. Sometimes we forget who we have borrowed money from and what lending agency we used. You will be amazed at what you find out.
  3. Call the IRS offset Hotline at 1-800-304-3107. Make sure you are calling from your personal phone. You are calling to see if you have any loan offsets in your name. This step is very important. 
  4. Order your tax return transcript from https://www.irs.gov/individuals/get-transcript or call 1-800-829-1040. Make sure it’s a Return Transcript for current filing year 2018.
  5. Sign up for MyEcon. The reason why you need to do this is to allow you’re the capability to log all your payments to your student loan data.  MyEcon also comes with a free credit repair software in which we are going to access while we are working on your student loan debt. We call this cash flowing! https://prospectivesolutions.myecon.net/join-now/
  6. Dispute your collections on your credit report that you see on NerdWallet. I will have videos showing you how to do this. I will do this step for you for an extra fee so you don’t have to, this way you can spend quality time with your family.
  7. Create an account with self-lender at https://selflender.com/refer/16625813. We are going to build your credit simultaneously while disputing items on your credit report. This will lessen the time it takes to build your credit. This is an amazing strategy created by MyEcon and it works. 
  8. Log back into your NSLDS account and complete an application to consolidate your loans. This will make paying your loans seamless and stress-free. Your payments will be lesser and you can apply for an income-driven payment plan. 
  9. If you are a state employee, government employee, or in the military, you can apply for loan forgiveness. This means that instead of having a 20 year or 25-year loan payoff term, you can get a 10-year loan pay off the term. You only have to pay on your loan for 10 years and whatever is left after the 10 years is forgiven. Click here to apply https://studentaid.ed.gov/sa/repay-loans/forgiveness-cancellation/public-service
  10. Download the MyEcon cashflow manager app. We are going to use this to log all your student loan payments and other debts. You will give this data to your tax preparer to lessen your tax liabilities. Don’t worry it’s called a write-off; this has been done thousands of times and it’s perfectly legal. 
  11. Work on your credit through self-lender loans. You will also be able to write this off in your cashflow manager as a debt. 

These steps have helped me tremendously, and I know they are going to help you also. If you have any questions about any of the steps, reach out to me in the comment section, or click on the contact us page. I hope that you apply the strategies listed and share with anyone that needs the knowledge.

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