So I need 8K in loans to go back to school, what do? Student Loans |
- So I need 8K in loans to go back to school, what do?
- Paying off Navient - any suggestions on maximizing return?
- getting serious
- Calculating IDR repayment with no previous year income
- Looking for advice on paying back undergraduate & graduate student loans with scholarships/tuition reimbursement.
- Please rate my current repayment model and plan. Feels like I'm not making a big enough dent - should I make a large payment before the year is over for tax benefits?
- I'm So Lost Please Help. I'm Finally Getting Life Together, Really Needing Help Who To Contact To Stop Garnishment. Because I qualify for it to stop.
- Paying Sallie Mae Loan In Lump Sum While In School
- College graduate with $35k in loans and need to go back for my classes but can't get any sort of financial aid
| So I need 8K in loans to go back to school, what do? Posted: 29 Dec 2017 01:38 PM PST I'm a freshman and I was recently informed that I owe 4K for this past semester and the next. I'm one of the first in my family to go to college, so none of them are able to advise me very well on a plan of action. I understand I need to get a private loan, and I was just hoping you guys could point me in the right direction of the best student loan providers. [link] [comments]  |
| Paying off Navient - any suggestions on maximizing return? Posted: 29 Dec 2017 01:13 PM PST Searched posts but could not find anything current. In a position to pay off nearly $30k in student loans from Navient. Called them and they said that as of 1/1/2017 they no longer accept credit cards. Can anyone suggest a way to get some sort of rewards? Would love to get something after all these years of being screwed by Navient. [link] [comments]  |
| Posted: 29 Dec 2017 10:53 AM PST I took out 75K in loans to go to a "dream school" for the performing arts. I "knew" what I was getting into; I had always been very financially responsible, (my mom is an accountant ffs!), stayed out of debt generally (my parents paid for my undergrad, which I never took for granted) and I went anyway. It was a huge mistake! And I feel really dumb! It was 2009, there seemed to be no jobs at all where I was. After school, I was "doing ok" in that I was supporting myself in my field, and I'm very proud of having done so, but I realized pretty quickly that I would never be able to pay the loan back, and that it was crushing me that I had made such a bad financial decision. A few years ago I took a radical turn and changed careers into something much more lucrative (at least compared to before). It's been the best decision I ever made, and I've been a lot happier in my job and more able to start paying the loans back. At ~1000 a month it feels like so much money, but the balance hasn't even gotten back down to the principal yet (it had gotten up to ~97K with interest during deferments and forbearances). I've never missed a payment, everything is in working order afaict, and I'm to the point now where I just want to get rid of it all. I've started crunching some numbers, and if I put aside somewhere between 2500-3000 a month to the loans, I should be able to finish in a couple of years. This is a lot but it's not impossible, and I'm starting to really think it will be worth it. I have about 15K in savings and around 10K in a 401K, but my taxes are a huge question mark this year due to a bunch of weird confluences (I could get a huge refund or I could get a huge bill, usually I do these myself but this year it's super complicated and I'm just going to pay (an) accountant(s) to figure it all out for me). I don't know why I'm posting exactly other than that I am trying to psyche myself up for this, it's going to feel like a real endeavor. I have a lot of the same questions a lot of people on here seem to have, and I already "know" the answers, but... should I pull out the 401k to make a dent in the loans (probably no), should I use a chunk of my savings to do so (maybe yes?), should I refinance (probably no, at 6.8 and 7.9 the interest is high but I won't get much benefit from moving it if I'm going to pay it down so much more aggressively and I'll lose all the protections etc (all my loans are federal)), should I be more realistic about the timeline and pay 2K a month instead (depends...)... There is one thing- I checked the loan status on ed.gov last night and everything looks correct, but my status is listed as "withdrawn". As I understand it, this is different than graduated, but I totally did and have my degree. Should I give any shits about this at all? Apparently it can affect some things with interest subsidization and deferment timelines but as far as I can tell everything is lined up right and all my loans are current... it mostly pisses me off that the shitty fancy school I went to is so piss poorly run. I spent many hours last night reading through this subreddit, it was cathartic, so thanks. I feel like I can do this, and I feel like I finally really want to. I wish I had never taken those loans out, I really do, but I think if I hadn't I might be sitting here regretting not following that white rabbit to grad school too, so :shrug: [link] [comments]  |
| Calculating IDR repayment with no previous year income Posted: 29 Dec 2017 09:57 PM PST Recent grad preparing for the next 10 years of debt (given PSLF doesn't change and screw me). From my understanding, my previous years tax information will be used to determine my payment amount. I made $0 dollars last year, so my payment based off this number would be $0. I will make significantly more money this year (2018) beginning in January when I start my first post-grad job. Is there a way to "play" the game, or do I have to update my income info to reflect my current salary? Obviously I would like to keep the payments $0 if I can, at least for the first year! Hope that made sense I just kinda blubbered it all out. Thanks! [link] [comments]  |
| Posted: 29 Dec 2017 04:24 PM PST I am starting grad school in January. I have undergraduate loans that or 6.75% interest or lower, some private and some in the PSLF program. I will be taking out more loans for my graduate program. I will be getting $2000 through a work tuition reimbursement program and am applying for a $7500. Should I put this money toward my undergraduate loans or my new graduate loans? Thanks! [link] [comments]  |
| Posted: 29 Dec 2017 06:04 AM PST After grace period was over in June 2017 I had $29,900 in student loans.. Today in December 2017 I have $25,000.. meaning I've paid off $4900 in total or around $810 per month.. My income is around $3400 per month that I have in hand after taxes so I've been paying off about 25% of my income towards student loans per month.. is this good? I started off paying the required amount but I didn't like how little it was making so I doubled that amount and so in the end now it's averaging to that percentage.. I hope to continue this rate of about $500 per paycheck which is biweekly I have multiple federal loans with varying interest rates of 3.4-6.8% and I'm paying off the ones with the largest % first, and the minimum for others.. I've been living at home with my parents this year so I've been saving on rent, utilities, food, etc.. and it's been basically coming out as the following: - 30% checking account for all expenses - 40% for saving - 30% student loans Come March 2018 I will be moving out so that's going to change, I'd like to continue paying that 30% student loans, hopefully saving around 10-15% and the rest going to living expenses.. My question is, is this a good model to have? I do have in my savings a good amount, around $13k that I would be OK with putting some of that towards my student loans today, to lower my student loan principal and, in effect, get some tax advantage for this ahead of the tax season coming up.. is this effective? My goal is to pay them off as soon as possible (like everyone else) but I'm not sure how to calculate it out if I keep going at this rate when that will be, given the interest rates and such.. [link] [comments]  |
| Posted: 29 Dec 2017 10:29 AM PST I posted this in another sub but hardly got a response so I'm trying my luck here with more details I want to do this by mail because I need evidence. I'm planing to set up repayments but I need a month to get it in order hence stop garnishment to commence: Just to give you a short background story: When I was 18 made the biggest mistake of my life by attending that fraud-of-a-school Art Institutes following my at the time gf. Because I thought we would be together forever... It lasted 3 months. Wallowing in the full throws of first time depression and exacerbating it by staying there (the school I mean it's small) surrounded by all her friends (pretty popular person there) for a year and a half, I finally left the school. I stayed depressed for 7 years over it. I was already a loner so having no physical friends or family to talk to, made it stay longer. I'm pretty sure either this caused my pituitary tumor to form. It pretty much f-ups your life in every aspect... intelligence, wit, creativity, critical thinking etc. Which I don't wish on anyone btw. Makes you a zombie. I feel like I've lost half my IQ. I still have it and I finally have a job again w/ insurance so hopefully I cant get rid of it. You get bursts of motivation/smarts every now and then and long periods of feeling stuck so while I feel motivated I'm doing this. Garnishment Info: I know there's an option to object (temporarily) from wage garnishment if you have been at your current job for less than 12 months. I've only been at my job for 6 months. And before that I was involuntarily unemployed for 4 months after having temps jobs for almost 2 years to pay bills. And I took a month of unemployment right before I was at my current job. I've looked online for whom to send wage garnishments objections to & what to send. Some sites say to send to the guarantor, others lender, some say send to dept of ed, and others say the collector. I received a wage garnishment notice from at first glance USA Funds about an defaulted federal student loan. But the address is coming from ACT (Account Control Technology) I know they are contacted collection agency, but the letterhead is confusing. There is a USA Funds Logo in the letterhead but within the letter all they ask for is me to send all info to ACT's address ATTN: Wage Garnishment Unit. The entire notice looks suspect so I couldn't tell if it was genuine. Because according to my NSLDS sites it's through USA FUNDS INC. But I think it is real and not a scare tactic. So I'm doing this in writing because I don't trust over the phone. Confusing Part: If I go by my info on NSLDS (and studentloans/studentaid.ed.gov) it says that my loans are currently w/ USA FUNDS. But when I go to the site it says they were bought by Strada. And if I go to Strada, it says all student loan default accounts are now with Great Lakes. I'm not sure if most people know this is a thing. I can provide links if needed to prove this. I posted to another sub what do do and they suggested calling DOE even though I want to do this by mail. But I did call. The story got even odder after that. When I called the DOE phone number for default/collections, it was an automated service and it told me my loans were under an agency not listed on the website AT ALL. It said it was listed under Immediate Credit Recovery and the amount due was less than what it says I owe on the site. The website does not lists them at all. It lists USA funds and another company as my current guaranty. Because I know this is a long process, so I don't want to send my letter to the wrong person only to start all over again. So this is where I ask for help; Who do I send my objection letter to? ACT the collection agency? Dept of ED? USA Funds? Great Lakes? I know this is just a band-aid. But it will help me get prepared when I set up a payment plan to get out of default later. TL;DR: Lots of personal hardship. Defaulted loans. Knows that USA Funds is current guaranty. Loan was initially though Navient. Getting garnishment letters in the mail from not sure if real. Says it's from USA Funds. I think it's collection agency all addresses on letter are to collection agency. USA Funds site says they don't handle defaulted loans anymore says Strada does. Strada says Great Lakes handles all their defaulted student loans now. No information to contact Great Lakes on wage garnishment/defaulted loans. Called DOE automated system says my loans are under Immediate Credit Recovery. They are not listed ANYWHERE on MY nslds/studentaid/studentloans accts. Not sure if should contact collection agency or which agency. This leaves me unclear of who do I send my wage garnishment objection letter w/ proof to? The collection agency who sent the letter? Dept of ED? The guaranty USA Funds? Great Lakes? The agency DOE said on the automated system IMR? Because I know this is a long process, I don't want to send my letter to the wrong person only to start all over again and end up getting garnished. [link] [comments]  |
| Paying Sallie Mae Loan In Lump Sum While In School Posted: 29 Dec 2017 05:52 AM PST Due to some fortunate circumstances I was able to work the past calendar year as an engineering intern while still remaining a full time student in school with little expenses. As a result, I submitted a payment for the full balance of the loan yesterday in lump sum. However, when I logged into Sallie Mae this morning to check if my payment has dispersed, there was still a balance of $1.72 and I'm scratching my head as to why. For those of you that have paid off entire loans in their entirety at once while in school, did your balance go to $0? Or is this most likely some additional interest accrued that I somehow missed? Thanks for the help. [link] [comments]  |
| Posted: 29 Dec 2017 03:40 PM PST Please help me out!! I already work 40+ hours a week but most of it goes toward rent, phone bill, car insurance, and food. PayPal email: Mariahtheis96@gmail.com [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