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Dwayne B.
Dwayne B., Attorney
Category: Education Law
Satisfied Customers: 33374
Experience:  Began practicing law in 1992
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Our grandson received loans graduate doctoral program

Customer Question

Our grandson received loans for his graduate doctoral program in dentistry. These are called Direct Grad and Direct Unsubsidized. He financially could not pursue the program without financial help. He completed all the FAFSA information. The loans provided for him were unsubsidized....we didn't know what that meant until he began to get paperwork for repayment of loans since he graduates in June from University of Washington. We do not understand why he got unsubsidized loans instead of subsidized loans in which the gov. pays the interest while the student is in graduate school. Is there a process where he can appeal and get these loans changed to subsidized. The interest on these loans is already at $24,000! He will owe over $265,000. He will be paying this off the rest of his life. Help
Sue Torres
Sue Torres
Submitted: 1 year ago.
Category: Education Law
Expert:  Dwayne B. replied 1 year ago.
Hello and thank you for contacting us. This is Dwayne B. and I’m an expert here and looking forward to assisting you today. If at any point any of my answers aren’t clear please don’t hesitate to ask for clarification. Also, I can only answer the questions you specifically ask and based on the facts that you give so please be sure that you ask the questions you want to ask and provide all necessary facts. Please note: This is general information for educational purposes only and is not legal advice. No specific course of action is proposed herein, and no attorney-client relationship or privilege is formed by speaking to an expert on this site. By continuing, you confirm that you understand and agree to these terms. There is no program of which I am aware that does what you want to do. However, there are a couple of other options. 1) He may want to talk to a local bankruptcy lawyer. While student loans are traditionally not dischargeable in bankruptcy, those are the ones subsidized by the government. Private lender, unsubsidized student loans may be dischargeable or the bankruptcy court may be able to do something about the interest at least.2) Another option is to look into a student loan program which "consolidates" student loans. I am not aware of any that are subsidized by the government now but there may be some, there were at one time. Even if there are not, likely he can find one that has a lower interest rate than the one he has now, based on the figures you mentioned. He can contact the company that does the consolidations and ask questions about consolidating the loans before he applies by contacting the Loan Consolidation Information Call Center at 1-***-***-****. There may be other numbers, companies, and locations as well.

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