Dept of Ed: Zero PSLF loans forgiven to date Student Loans |
- Dept of Ed: Zero PSLF loans forgiven to date
- Bill language is out - I'll start reading it now
- How much is too much?
- Why are people shocked at how much debt I have?
- Do I have a grace period?
- Finally paid off my Credit Cards. On to student loans. What should I do?
- marriage changing an IDR plan
- Should I defer my federal loans for 6 months?
- Applying for student loans
| Dept of Ed: Zero PSLF loans forgiven to date Posted: 01 Dec 2017 06:41 AM PST During a federal student aid conference today, the Dept of Ed stated they have received only a few thousand loan forgiveness applications, but the vast majority are borrowers in which have not been certifying public service employment or even applied at the time of program launch 10 years ago. Essentially, this is the first time they've heard from these borrowers. They expect to start having valid applications and approvals over the next month. Takeaway: be sure to apply and regularly certify as required. Recording of the session will soon be posted to https://fsaconferences.ed.gov/2017sessionlist.html [link] [comments]  |
| Bill language is out - I'll start reading it now Posted: 01 Dec 2017 08:16 AM PST Here's the text https://edworkforce.house.gov/uploadedfiles/prosper_act_bill_text.pdf I'll edit this post as I read. I'm going to go for fast rather than pretty at this point so be kind. EDIT - how much do you guys care about the school stuff - cohort default rates, for profit rules etc? IF you care I'll work on it over the next few days - if you don't i'll keep it to myself EDIT - so - i've conferred with others that have read the bill and we are all unclear on PSLF - so for now - I'm sticking with my comment below. No more updates tonight - going to see Jim Bruer and stop thinking about student loans for a minute. Have a great weekend! [link] [comments]  |
| Posted: 01 Dec 2017 11:13 PM PST I am a senior in high school applying to colleges. I hear all the horror stories about student loans and I understand as I'm dirt poor becasue my parents were in debt. The last thing I would like to do is attend a state college(nothing wrong with it but I had dreams for other colleges) but it looks that way. My parents have nothing saved up and I have nothing saved up. I've gotten a wake up call and I will be budgeting now somehow I don't even know where to start. My parents don't want me to go to a state school and say that I can just take out loans but no matter how much I tell them I don't want to take out loans like 30k an year, they say I'm worrying too much. I know student loans are a given in my situation but 30k an year sounds ridiculous? Is that normal and I'm just worrrying too much or am I right? [link] [comments]  |
| Why are people shocked at how much debt I have? Posted: 01 Dec 2017 07:47 AM PST This confuses me and makes me feel hopeless. I am a public school teacher, first year. I did two years at a state community college, finished the remaining two years at a state university, then did a two year master's at another state university. All three were SUNY. How..... HOW could I have obtained those degrees in a more affordable way?? I have around $130,000 in debt. When I tell that to my colleagues, or any adult for the most part, they are shocked. They talk to me like I did it wrong. What did I do wrong? I went the cheapest route. Yes, I borrowed more money for room and board, but no more. I mean, I was still broke as hell while in school. I've signed up for the fedloan public service forgiveness plan, but of course that only takes care of my federal loans ($75,000). The other 55k is private loans because my government borrowing would not cover my costs. Just found out there are no repayment plan options for my private loans. My payment will be about $600 a month and there's no wiggle room there. I'm gonna be paying more than that when the federal payments kick in. I make 44,300 a year as a middle school teacher, before taxes. Does anyone have any insight, or maybe a pat in the back? 😬 [link] [comments]  |
| Posted: 01 Dec 2017 08:08 PM PST I was reading this link which says:
Is this true? I have listed my loans below. I am graduating next week. Would that mean I have a 6 month grace period for my 2015 and 2014 loans? And that I would have immediate monthly payments on my 2013 loan and interest on my subsidized loan? DIRECT STAFFORD UNSUBSIDIZED 09/15/2015 DIRECT STAFFORD SUBSIDIZED -- 09/15/2015 DIRECT STAFFORD UNSUBSIDIZED -- 09/23/2014 DIRECT STAFFORD SUBSIDIZED -- 09/23/2014 DIRECT STAFFORD UNSUBSIDIZED -- 09/17/2013 DIRECT STAFFORD SUBSIDIZED -- 09/17/2013 [link] [comments]  |
| Finally paid off my Credit Cards. On to student loans. What should I do? Posted: 01 Dec 2017 01:13 PM PST I've been budgeting, using Mint religiously, waterfall method.. and finally paid off all of my credit cards ($23,000) in the period of over a year. Now that I'm over that hump, I need advice on what steps I should take next. This is my first year working after 2 years of residency so I'm finally making stable income. I'm a healthcare provider (yearly salary of 125k) at a startup company. My current goals:
Currently, I have the following student loans:
The Direct Sub and Direct Unsub are currently in forbearance until January while they are processing my Income-Driven-Repayment plan renewal application. Im unsure whether I should continue with IDR (Cons: high interest rate, not sure of monthly amount until application goes through. Pros: fed loans benefits like forbearance, loan forgivenesss) or if I should refinance (Pros: possible lower interest. Cons: loose out on the fed loans benefits). I'm making minimum payments monthly for the My Campus Loan. Questions:
Thank you all for your inputs. [link] [comments]  |
| Posted: 01 Dec 2017 04:01 AM PST i currently have monthly payments of ~150/month using an IDR plan. I also qualify for the PSLF plan, and am on qualifying payment #16 of 120. I'll be getting married within the next year, and am curious how my future spouse's income will affect my monthly amount owed. My fiancee makes roughly 3x what I make - does this mean I will owe ~600 a month? Is there any way to keep my payments lower, as $600 is more than I am comfortable paying on my own, as my spouse and i will probably be keeping separate finances in this regard. Thanks! [link] [comments]  |
| Should I defer my federal loans for 6 months? Posted: 01 Dec 2017 09:43 AM PST My estimated graduation is May 2018. Right now, employment is unclear but I have prospects and estimate income to be about 40k/y. My loans total 41k at 4%. I'm looking at the REPAYE option currently. Should I defer my loans for the 6 month period in order to build savings, increase cash flow, finish paying off my car, and build an emergency fund? Also open to suggestions on which repayment plan would be best for my situation. [link] [comments]  |
| Posted: 01 Dec 2017 05:59 AM PST Hello I'm looking for some help in regards to my plan to apply for Canada Federal student loans in June and am wondering if I am on the right track with my current plan. Just a little background, I'm 21 years old and currently work a full time job making roughly $36,000 annually. I have recently payed off my $12,000 car loan in preparation for starting university 1 next year in the fall semester. I take home about $1080 bi-weekly and put approximately half of each paycheck into a separate savings account. The rest is split between bills, gas and personal expenses. I have roughly $4000 in a trust fund for school and should have an additional $4000 of my own saved by the time I apply for my loans. I don't intend on using the $4000 of my own money towards school, but rather to keep it as an emergency fund. I am planning on quitting my full time job to look for part time employment 3 months prior to applying for federal loans, partly because my income for the 17 weeks previous to my application is taken into consideration, and partly because I will need a part time job during the school year. Here is where things get tricky. I have to report my parents income on my application. My mom passed away and my dad is out of the picture (and makes barely any money anyways, close to $12,000 yearly from disability). I am wondering if i will still need to report his income and how i would go about doing that. So my questions are:
Thank you for your time and feedback [link] [comments]  |
| You are subscribed to email updates from Advice, articles, and general discussion pertaining to student loans.. To stop receiving these emails, you may unsubscribe now. | Email delivery powered by Google |
| Google, 1600 Amphitheatre Parkway, Mountain View, CA 94043, United States | |
No comments:
Post a Comment