Consolidate student loans + car loans? Student Loans |
- Consolidate student loans + car loans?
- [Graduate school applicant] Should I list my parent's tax info on FAFSA?
- Can someone put you as a cosigner on a student loan without your consent?
- Exiting Federal b/c High Income increased Monthly Payment?
- Getting started with repayment, need some advice.
- Nearing end of rehab; expected payments with future home purchase in mind
- Should I ever consider using retirement earnings to wipe out student debt?
- Income based repayment recertification question
- Public Education and PSLF
- Broke, Unemployed and Out of Options
- Survey: Student loans and lifestyle
- Dealing with an aggressive creditor. Need help. X-posted from r/personalfinance
| Consolidate student loans + car loans? Posted: 27 Nov 2017 04:39 PM PST I've been looking into consolidating some of my student loans for months and I've finally got a good enough income where I can consider it more seriously and possibly get approved (I have two private loans, one through Sallie Mae and one through Great Lakes), but I recently wondered if I could consolidate my auto loan with them as well. Is this possible? If so, what are the pros and cons? If it would be helpful to have any more specific information, please let me know and I will edit my post as promptly as possible. Thanks! [link] [comments]  | ||||||||||||||||||||
| [Graduate school applicant] Should I list my parent's tax info on FAFSA? Posted: 27 Nov 2017 03:10 PM PST Filling out the FAFSA right now, and contemplating whether I should fill out the optional section for my parent's tax info. They're divorced, and one is much worse off than the other. I need to list only one parent. Will listing my poorer parent's financial info help me out at all, either with federal/state aid or school aid? Some context: I'm applying to Master's programs that are considered professional degrees, so I'm not expecting much in the way of TAships, GAships, RAships, etc. (or should I be?). Also, FAFSA considers me an independent student. [link] [comments]  | ||||||||||||||||||||
| Can someone put you as a cosigner on a student loan without your consent? Posted: 27 Nov 2017 06:39 AM PST So my moms wanting to go back to school for like the 4th time, even though she has trouble paying her student loans now. She will have to take out more student loans and if they ask for a cosigner, I'm sure she will ask me. I will not cosign for her because of her bad history. Could she put me as a cosigner anyway since she knows all my info? This hasn't happened yet by the way. She hasn't even applied to school, but I'm just thinking ahead. [link] [comments]  | ||||||||||||||||||||
| Exiting Federal b/c High Income increased Monthly Payment? Posted: 27 Nov 2017 11:02 AM PST Has anyone else been F'ed over as a result of earning more money? My payments are scheduled to increase from $780 to over $1300 due to higher household income. I'm about to refinance with Earnest or SoFi (most likely Earnest) to keep the payment more manageable ($935-ish) ... lower interest rate too (5%-ish vs. 7% with the Fed.). This all just seems so fucked up to me. [link] [comments]  | ||||||||||||||||||||
| Getting started with repayment, need some advice. Posted: 27 Nov 2017 11:14 AM PST Hey all, it's that time of the year... my loan payments begin next month, and I'm looking for some advice. I'm currently sitting at a balance of $68,225. Like many people on here, my mother handled all of the loan acquisitions for me, and now I'm trying to wrap my head around all of this and figure out the best way to get out of debt. My loans break down as such:
So, in total, it looks like $825 a month. Can I afford that? No, not really, but I despise the idea of living in debt my whole life, so I'll cut the necessary corners to make the payments. But, here's where I need advice... Obviously my private loans have some atrocious interest rates. 1. Is there any chance of refinancing any of these loans/would that be a good idea to consider? 2. Should I try to lower my federal loan payments so I can put more $ toward my private loans? How should I go about this? PAYE? 3. I keep hearing about federal consolidation, but I was told since all my loans are direct stafford loans (sub and unsub) that consolidation wouldn't help me. I have 8 federal loans ranging from $500 to $6,500 and interest rates on them range from 3.51-4.41%. Really any advice is appreciated at this point. [link] [comments]  | ||||||||||||||||||||
| Nearing end of rehab; expected payments with future home purchase in mind Posted: 27 Nov 2017 09:00 AM PST Hello, hope some of the best and brightest out there can assist with my situation. I'll try to divulge as much info as possible. When I was married 10 yrs ago, I consolidated both mine and my ex wife's student loans into one loan to save on interest. We divorced and of course, I was on the hook for the balance, which is now about $160k. Because of divorce and moving to another state and trying to resettle over the course of a few years, I stupidly placed the loans on forbearance the whole time. The loans went into default last year and they garnished my wages earlier this year. I went into rehab with payments of $800/mo. I will finish in February. Now my questions: - what will my anticipated payments be once I complete? I think the standard payments are like $1700/mo, which would probably kill my chances of owning a home with my current wife. Will they go up to this $1700 payment; are they negotiable? -I understand that the income based payments are an option, but I think the mortgage companies look at the standard payment or 1% of the total loan debt, which kills my debt ratio. Anyone have any recent experiences with obtaining a mortgage with SLs? -I currently have no car payments (but will need a car next year), no credit card debt, make 110k year. Wife makes $60k and only has about $3k in cc debt. We pay $1600 in rent. Will they look at our combined income and base the SL payment on that? -finally, is there any recourse to separate my ex's share of the debt from mine? She is not contributing at all. Sue her? She's in another state. Thanks for any insight and sorry for the book. TL;DR - rehab ending in February; 800/mo - $160k in loans, half belongs to ex wife - what is expected payment after rehab? standard payment is $1700. negotiable? -mortgage companies look at standard payment when writing loans, kills debt to income ratio; any hope?experiences? -160k combined income, $3k total cc debt; no other debt. -Can I sue to make ex take her half of the debt or contribute to payments? Thanks again [link] [comments]  | ||||||||||||||||||||
| Should I ever consider using retirement earnings to wipe out student debt? Posted: 27 Nov 2017 08:28 AM PST I know this seems like a no-brainer/stupid question, but I have to hear from others. I have about $34k in private student loan debt (Navient) that I am slowly paying off each month and am thankfully able to afford. My monthly payments are currently $382/month and the variable interest rates on the loans right now range from 3 to 5.75% (three loans). I also have federal student loan debt and am enrolled in PSLF separately for that money owed. I've been able to save enough in my retirement accounts in just a few years to match what I owe in private student loans. If I paid off my private loans, that's almost $400 a month back into my budget. I could easily kick up my before-tax contributions to my 403(b) with this extra money, and also use that money to put more into my IRA. I am aware of the penalties for accessing the money and the benefits of compound interest and all that, but I'm still curious. I'm 31 years old. So, is it ever a good idea to do something like this? [link] [comments]  | ||||||||||||||||||||
| Income based repayment recertification question Posted: 27 Nov 2017 06:56 AM PST Hi everyone, What happens if I renewed my income based plan with an inaccurate income? I graduated from school spring 2016 and worked mostly low paying jobs for the rest of the year, resulting in a very low income for that tax year. This past year I've made more and am up for a promotion as well. When I went to recertify, it pulled from my 2016 taxes and gave me a $0 payment. Will this screw me in the future? Will I need to repay anything come tax time? Should I recertify? I plan on doing PSLF so lower payment would definitely be better. I think I made $15-20k for 2016 but probably made closer to $38k this year. [link] [comments]  | ||||||||||||||||||||
| Posted: 27 Nov 2017 03:51 AM PST Hello, I'm looking for some insight on my current situation with student loans. I am currently a public school teacher in Illinois. I graduated in May with around 41k in federal loans (serviced by GreatLakes). I was currently in grace up until this month, and my first actual payment is due on the 1st of December. During my grace period I was in the standard repayment plan, 10 years and around $430 per month. I recently changed this plan to the Graduated Plan and my payment goes up every two years (it is currently $280/month). My annual income is right at 37k per year, but the post tax/pension/insurance income is actually around 23k. I noticed that to be eligible for the PSLF program you have to be in an income driven repayment plan. I had a few questions about this.
Thanks in advance for the responses. I want to make sure I utilize the most efficient means of paying back these loans. [link] [comments]  | ||||||||||||||||||||
| Broke, Unemployed and Out of Options Posted: 26 Nov 2017 06:07 PM PST I'm broke and unemployed and apparently have maxed out my forbearance. I don't know what else I can do??? I have no money and am subsistence living in Alaska. I keep telling them this but they don't care and I can't figure out what else I can do? [link] [comments]  | ||||||||||||||||||||
| Survey: Student loans and lifestyle Posted: 26 Nov 2017 11:48 AM PST I am working on a project, and was hoping to collect data from people on how student loans are impacting their lifestyles. I was originally going to go local, but figured I'd reach more people on reddit. If you have a moment please fill out my survey via survey monkey: https://www.surveymonkey.com/r/5THBV9M I started an account specifically for this, hence the new profile. My goal is to start a student loan relief organization. [link] [comments]  | ||||||||||||||||||||
| Dealing with an aggressive creditor. Need help. X-posted from r/personalfinance Posted: 26 Nov 2017 11:44 AM PST I will start off by saying that I know how much of a mess my personal finances are. And also apologize for the length. I'm almost $100,000 in student loan debt. My grandmother is my co-signer. I make payments to each of the different loan companies. However, one of the companies was bought by Citizens Bank, whom I had been banking with. I was unaware that they obtained the loan and many payments were obviously missed, so they used their right to "offset" the loan and took out $800. I then made a payment. When I missed another they took another $800 from my account. And missed one final one where they took out $1000. ($800 is my entire paycheck/week. I pay rent, car payment, care insurance, other loan payments,; and cellphone service) I closed out my account and opened a new one with a different bank. Flash to a week ago. I get a notice from a debt collection company/lawyers office. Saying that my account from Citizens Bank has been placed with them and they are trying to collect the debt. I called them today. They are refusing to set up a payment plan with me, they want $14,000.00 up front. And are saying that since I can't pay it, my grandmother should. She's 80 years old, and doesn't have much money. I want to handle this on my own without them involving her. There's no possible way that my grandmother can pay them that much money. It's absurd. I'm concerned because she does bank with Citizens. Does anyone have any experience with this type of situation? [link] [comments]  |
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