PSLF Debt Forgiveness Student Loans |
- PSLF Debt Forgiveness
- Trump Administration is Attempting to do Away With PSLF
- I messed up. 170k in loan for a useless grad degree. Someone please help me.
- How long for federal student loan consolidation to process?
- Student loans for graduate school abroad?
- Help! Can Parent PLUS loans be negotiated down with NelNet?
- Please help!! Question about student loan!! D:
- Refinancing Unsubbed Loans
- Losing sleep over this, please help!
- LendKey Reviews?
- Sallie Mae Charge off
- Student Loan Payoff, How to maximize my benefit of this transaction?
- Refinancing options for Grad Plus Loan
- Am I paying too much for my student loans?
| Posted: 03 Nov 2017 10:28 AM PDT Public Service Loan Forgiveness (PSLF) started in October of 2007, and it's now 10 years later, so the question of "has anyone actually gotten their debt discharged with PSLF yet?" has been coming up pretty regularly. Only borrowers that jumped on the program immediately will be eligible for now, and that number is pretty low. Rather than making a new thread, please read the threads linked below first. Post any questions in this thread. If you're one of the first to get your loans discharged, we'd love to hear about it. [link] [comments]  |
| Trump Administration is Attempting to do Away With PSLF Posted: 07 Dec 2017 05:59 PM PST |
| I messed up. 170k in loan for a useless grad degree. Someone please help me. Posted: 07 Dec 2017 07:51 PM PST I have a MFA in Fine Arts, focusing in Photography. I thought I wanted to be a professor, but I realized it's such an unrealistic goal. Currently I work in college for a pathetic 35k. On top of that, I live in NYC, where nothing is ever affordable. I'm under PAYE plan and they determined I don't even owe anything this year (which is a relief and not really at the same time.) By the time I renew the plan next year Oct, it's scheduled for an auto-debit of $1800. I have 4 loans all from NELNET, Direct Grad (6.96% interest), Direct Unsub (5.96% interest), Direct Grad (6.59%), and Direct Unsub (5.59%). I'm trying to find a new job but I doubt I'll find anything over 50k. Please help. I didn't think interest would be this devastating. I can't even imagine how much this would be during loan forgiveness in 25 years. It took me more than a year to even find a full-time job after graduating and I currently barely even get by every month without savings. I know I didn't think this through over a degree that won't get me a career. Working in non-profit? A different career path that requires limited experience and high pay? Would it be better if I just stick to PAYE plan and get the income tax bomb in 24 years? Do you think there would be a payment plan for that? If anyone knows what to do from this point, please let me know what I can do to make a difference. It's mentally draining to think about personal finance every night before going to bed. [link] [comments]  |
| How long for federal student loan consolidation to process? Posted: 07 Dec 2017 03:51 PM PST I recently applied to consolidate all of my student loans with Nelnet (mix of sub & unsub Stafford) for a standard 10-year repayment plan. Yesterday, I received a message from the servicer indicating it would take almost two months to process my application. My partner and I are trying to buy a house in the next three/four months, and I want to see how consolidation affects my credit score before we apply for prequalification because I'm not about that surprise life when it comes to finances. (Who is, really?) SO, here are my questions:
Thanks in advance, my fellow educationally indebted friends. (I love how helpful and encouraging everyone is in this sub!) edit - formatting [link] [comments]  |
| Student loans for graduate school abroad? Posted: 07 Dec 2017 02:07 PM PST What are my student loan options for getting a Masters Degree in France? I'm a US permanent resident. The program costs $10,000/year for a 2 year program. [link] [comments]  |
| Help! Can Parent PLUS loans be negotiated down with NelNet? Posted: 07 Dec 2017 12:45 PM PST I'm literally sick to my stomach about my Parent PLUS loans, and I honestly don't know where to turn. Here are the specifics: *Got 4 PLUS loans for daughter to attend state school ($2571, $8373, $9981 and $10243--they were consolidated in 2006) *Loan was in deferment for 3 years due to 2 kids in school + husband lost job *We have made 88 full payments (of about $268) And after making payments totaling OVER $24,000, our principal balance has only decreased by $6,700!!! WTF and HOW are we going to be able to pay this off?? The loans went from ACS to NelNet, so I've had to request our records mailed since it's not available online. We have never made a late payment in all this time. And I'm sick about this because we not only have this PLUS loan, we also have another one for our 3rd child, totalling about $30K. I work for a county govt so I'm going to look into PSLF for the newer loans which are in my name, but these loans from 2006 are in my husband's name. Does NelNet negotiate with people, without us having to go into default? We are set to make 146 more payments (which means we had a 20 year repayment plan), with the loan fully paid in 2029...I'll be 70 years old so I guess retirement savings will start then?? [link] [comments]  |
| Please help!! Question about student loan!! D: Posted: 07 Dec 2017 06:04 PM PST Hi! I need help please. I am a college student who was given a scholarship to play a sport for a private school. I went to this school SPECIFICALLY for this sport. I started the school in September and my season doesnt start until Feb. I took out a $12,000 loan to cover this school year and pay the remaining left from my scholarship. However, my coach was fired and now I am left without a team. I have only taken one semester at this school and I will be leaving the school in Jan. since I will not be an athlete there anymore. My question is - is there any way to cancel this loan and just pay for this semester? Or will I be stuck with a $12,000 loan and have to pay it? Im so confused on this process. :( Thankyou for any help!! [link] [comments]  |
| Posted: 07 Dec 2017 08:24 AM PST I have a mix of unsubsidized and subsidized Federal student loans at Great Lakes. My question is, is there any reason I cannot refinance only the unsub loans? I haven't seen any reason why I couldn't I wanted to make sure before going forward with refinancing only to find out I cant. Tried doing research on it but nothing on specifically refinancing some of but not all your federal loans. [link] [comments]  |
| Losing sleep over this, please help! Posted: 07 Dec 2017 07:01 AM PST I'll get right to it. I'm 53, and I took out loans to help put my daughter through school. Parent Plus Loans: $25,430 @ 7.21% $27,335 @ 6.84% $30,690 @ 6.31% Total of $83,455 My daughter has her own loans at around $35,000, but she has always planned to also help pay for these parent loans. I work as a secretary in an elementary school, so I thought I would apply for PSLF. However, even though the loans are in my name only, I now realize that my husband's income will be considered. So.... My yearly income: $25,500 Husband's income: $110,000-120,000 Two children-Age 24 (daughter that just graduated) and 21 (son--currently in school) Even though on paper it may look like we have enough money, we have huge credit card debt that we began attacking in earnest almost a year ago. We also give 10% off the top to our church. And we're currently trying to put our son through school, and we're desperately trying NOT to take out too many loans for him. Right now, my standard payment is $957/month. There's no way we can swing that, and from what I can tell, it would make the PSLF a moot point, since the loan would be paid off in 10 years. But when I tried to use the estimator for ICR, it actually INCREASED our payment to $1200/month--I assume this is because of my husband's higher income. So, if we choose one of the other options (Extended or Graduated), which lowers it to around $550, would those payments still qualify for PSLF? I'm afraid I already know the answer, but I'm asking just in case. I never thought refinancing with a private lender would be an option, but now I wonder if that's our only hope? Or, if we choose married filing separately, that would allow me to only use my income, right? But the ramifications on our taxes would be huge, I'm afraid. Would we still be allowed to claim our charitable deductions, mortgage interest, etc? Without those deductions, I'm terrified what our tax bill would be. Sorry this is so long, I'm just trying to give you all the info you may need to help. And I truly NEED HELP! I'm so stressed about this. [link] [comments]  |
| Posted: 07 Dec 2017 04:19 PM PST Hi there! I was toying around with possibly refinancing my loans. Currently at Wells Fargo for $45,200 @ 7.99% for 180 months. I have been paying since Feb of 2016. $468.01 a month on top of my IBR federal payments ($88 now, will be $113) I heard about LendKey after Earnest and Sofi declined my applications and checked them out. The best option I'm seeing is $365.73 @ 5.35% fixed for 180 months. I hate the idea of starting over at 180 months, but I can pay down the loans faster with the $103 I'm saving if I need to, although I would rather continue to add to my emergency fund before I start to pay things down more aggressively. Having said this, does anyone have experience with LendKey? Can you share what it's been like? I guess I'm confused on how it goes from Credit Union to LendKey to me as well as who I pay. I'm also interested to see what the success rate of funding from conditional to final approval is. Thanks! Edit: clarified loan rate type and added Qs. [link] [comments]  |
| Posted: 07 Dec 2017 04:18 PM PST I'm hoping to get some advice and help. I searched for "charged off student loans" before posting and didn't see a lot of threads regarding my particular question so hopefully this has not been answered before. I have a Sallie Mae student loan that has been charged off. Original balance $5000. It was charged off in December 2016 in the amount of $7777. There's no excuse for this. I was just negligent and buried my head in the sand. I pulled my credit report earlier this week and the balance as of November 2017 was $8654. This is my only student loan charge off. I believe this charge off is a private, not federal, student loan but I'm not positive. First question- What's the best approach to taking care of this loan with Sallie Mae? I have $2,000 that I am able to pay towards this. Is it possible/advisable to try and make a settlement offer with Sallie Mae and is 2k reasonable or would they just laugh at it? Second question- Is it possible to have this deleted from my credit report? I resolved 2 other accounts with collection agencies using 'pay for delete' agreements and wanted to know if it's even possible to do that in regards to a student loan if a settlement is reached. Thanks if you read this far. [link] [comments]  |
| Student Loan Payoff, How to maximize my benefit of this transaction? Posted: 07 Dec 2017 09:42 AM PST I am about to pay off a substantial federal student loan and I am looking for ideas on how can I maximize my benefit for making this payment? I am thinking I might max out all my credit cars to gain airline miles and points and then pay the credit card balances in full. Are there any other ways/ideas to maximize my benefit when I make this payment? [link] [comments]  |
| Refinancing options for Grad Plus Loan Posted: 07 Dec 2017 11:00 AM PST I have a Grad Plus loan with a balance of $36,000.00 and an APR of 10.25% through Navient (my mother is also co-signed on the loan). I just want to reduce the interest rate, so I can lower my payments and pay off the loans a bit quicker, but it seems like I have a virtually no options. I have tried refinancing through Wells Fargo and Earnest previously, but have been rejected due to a very high LTV (I have a very large amount of federal loans which are on an IBR plan). I make about 43K a year, and have tried having my mother co-sign on the refinance. Anyone have any ideas? [link] [comments]  |
| Am I paying too much for my student loans? Posted: 07 Dec 2017 06:15 AM PST Hello everyone! I just want to make sure I am on the right path, and paying the least amount as possible for my loans. In the past, my parents have been paying the bill, however, my income continues to rise; so they are complaining. So I want to make sure I am on the right plan. Currently I have loans totaling $86,234.83 at 5.1 rate. I am in the PSFL program, and have 78 payments remaining.( According to my payment history I made 52 payments ,however, they are only saying I made 42??) MY AGI is $92,668. I am married with 3 children. My current payment is $618. I am on the IBR plan. Basically, I just want to know if I am paying the least amount possilbe to make the next 78 payments? The payment seems really high, and if I continue to pay that amount, I will have almost paid the total amount of the loan; so not much is really being forgiven? Is there anything I can do to get the payment lower? Should I go to the Paye or REPAYEE plan? Should I file separate taxes from my wife? Is there anything I can do to get it lower? How you guys can shine some light for me. [link] [comments]  |
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