[Article] Lawsuits: Borrowers were misled on Public Service Loan Forgiveness Student Loans |
- [Article] Lawsuits: Borrowers were misled on Public Service Loan Forgiveness
- Bankruptcy and Student Loans
- Direct Debit still hasn't posted
- I want to hear how bad your loan situation is!!
- $26k left on Great Lakes and I really want to speed up the process of getting rid of them. Should I refinance?
- Citizen born abroad with student loan debt. Went back abroad, and now we can't seem to find a way of getting the money to the loan company
- School won't help with loan situation, are there any other avenues I can explore?
- Refinancing Parent Plus Loans
- Timing of extra monthly payments and paying down the highest rate first
- Student Loans Question on Refinancing
- Payoff strategy when portion of loans in deferment?
- Extra Student Loan Money - Pay to Nelnet or Give Back to School?
| [Article] Lawsuits: Borrowers were misled on Public Service Loan Forgiveness Posted: 02 Jan 2018 05:08 PM PST Link here: http://money.cnn.com/2018/01/02/pf/college/public-service-loan-forgiveness-lawsuits/index.html Net-net, some people are just now finding out that they don't qualify for PSLF, and are suing the loan servicers for not properly communicating. There are also some heartstrings stories about people that planned their lives and careers around this program. [link] [comments]  |
| Posted: 02 Jan 2018 10:52 AM PST My ex-husband and I will be exiting Chapter 13 bankruptcy in North Carolina October 2018. My loans have been deferred during the 5 year bankruptcy repayment period (interest continues to grow, but I am not required to pay anything yet). 1) What can I expect as of October of this year? 2) I am finishing my 5th year of teaching in Title I school (Science) and should be considering Teacher Loan Forgiveness at this point; however, since I've been in bankruptcy, I don't know when I should begin this process. Any suggestions or info. would be appreciated. Thanks! [link] [comments]  |
| Direct Debit still hasn't posted Posted: 02 Jan 2018 07:10 PM PST I'm signed up for direct debit, and it was supposed to pull my payment today (2 January) but it still hasn't. This is is my second payment ever, and it worked fine last time so I'm just a little worried. Should I make the payment manually or just wait it out? [link] [comments]  |
| I want to hear how bad your loan situation is!! Posted: 02 Jan 2018 10:41 PM PST Hey r/studentloans, I want to hear what other people other people are going through. How much in student loans do you have?, Degree Earned? Starting Salary? I'll start. 50k in debt for a Bachelors of Science in Economics. I'm currently making 15/hr. Fuck Me!! [link] [comments]  |
| Posted: 02 Jan 2018 06:33 AM PST I keep very close tabs on my credit and don't have any delinquencies (knock on wood). Should I bother refinancing? My loans are a big chunk of why I can't move out of my house and I'm wondering if it's just the impatience getting to me. [link] [comments]  |
| Posted: 02 Jan 2018 09:03 AM PST I'll try keep this as short as possible, could really use some help here. I went to college in the US, though I was born in the UK. It was, and is, my dream to live in the US, so I went to college there, and because of my mother being American, I am a US citizen, and was eligible for financial aid. 2 years into college, my life kind of fell apart, and am now back in the UK for the foreseeable future. 3 years on, my Chase bank card has expired, and we have suddenly found ourselves struggling to find an avenue to actually get the money to the loan people (great lakes). The way we were doing it before was my mother would send me money through paypal, which I would then be able to transfer into my Chase account, and on to the loan company. It wasn't ideal, but it worked, and it was all free. I believe there was a fee or something for direct transfer into the account, and since we were paying monthly, this would have racked up to be a massive cost. As I said, the card associated with that account is now expired, and paypal requires a valid bank card to send money to that account. My address is still my college's, as we don't reside in the US. It says to visit a local branch to change my address. Obviously I cannot do that as there is no chase bank here. So a couple months after we realise we can no longer make the payments like we had, my dad said fuck it, and now we are looking to just pay off the remaining $12ish k, and get rid of the damn thing. He phoned great lakes, but they don't take wire transfers. He tried transferring the money to my Chase account, but nothing happened, and no money was taken or received. I don't really know how to proceed. Great lakes are starting to send somewhat unpleasant emails, while we're over here jumping up and down trying to throw literally all the money theyre asking for at them. I believe one time we explained the situation to someone on the phone, but they just seemed kind of apathetic. Any advice? We can't put account details right into the great lakes site and pay it online like usual, because it asks for a US checking account, and british bank accounts I dont think even have routing numbers for the most part. [link] [comments]  |
| School won't help with loan situation, are there any other avenues I can explore? Posted: 02 Jan 2018 07:49 AM PST I completed my FAFSA this past summer and received a loan to return to school. The problem is that the FAFSA required my 2015 tax information. I worked full time the entirety of 2015, but only 4 months of 2016, and not at all in 2017. When I filled out my FAFSA, it said that if the required tax year did not correctly represent my current financial situation, to discuss it with the school. The school says that there is nothing they can do. Are there any other avenues I can explore to get the full cost of my tuition covered? My current loan leaves me short and I am unable to cover the remaining tuition. [link] [comments]  |
| Posted: 02 Jan 2018 11:24 AM PST My sister just graduated from grad school and I'm helping her to refinance some of her loans. I went through the process a couple years ago and it has managed to save me a lot of money, so I figured I would help her do the same. My main question is in regards to refinancing Parent Plus loans. My sister only has one private loan, and I understand that federal loans generally shouldn't be refinanced, but does the same logic apply to the Parent Plus loans? When my mom took these loans out for my sister (4 of them at 8.5% APR), it was agreed upon that they would be my sister's financial responsibility. Is it better to refinance them along with her private loan, or should my sister leave them as is and pay my mom directly? [link] [comments]  |
| Timing of extra monthly payments and paying down the highest rate first Posted: 02 Jan 2018 11:10 AM PST I'll use an example as my question is fairly nuanced. Say I have a minimum payment of $500 across 4 loans, and $250 of that goes towards interest. The remainder is applied to all 4 loans. Let's say payment is due on the 1st and is auto-withdrawal. If I make an additional payment of $300 also on the 1st (it has to be a separate payment as it's coming from another account), all $300 goes towards the loan I've specified (highest interest rate) and all goes to principal, fantastic and as I desired. My question is if those payments are not on the same day. If I pay the $300 a day early on the 31st of the month, it all goes towards interest, ok. In an ideal world, when the $500 payment hits the next day, a small amount goes towards 1 day of interest, roughly $200 (the remainder needed to make the minimum monthly payment) is applied towards all 4 loans, and the remaining $300 would go to the loan I'm trying to pay down. However, I don't think that's what happens (so the first part of my question, is that accurate?). I think what happens is the first payment of $300 is not enough to meet the minimum monthly required payment. It goes towards accrued interest and then across all 4 loans, understood. But then the next day the full $500 payment is spread across all 4 loans roughly evenly as well? They don't break it down into what's still due to meet the minimum payment ($200 towards all loans) and then the rest as an extra payment ($300 to the highest rate loan) correct? The issue is relevant because this month's payment is due on a Saturday, and when I log on to schedule the extra payment, it won't let me schedule it for the weekend. So I either have to do it on Friday (in which case the above happens), or on Monday (in which case it's the same thing, but the extra payment just moves to the next month and is now 29 days early). Or since it's due on a weekend, is it really due on the next business day and a Monday extra payment will be considered same day? And I get it's just this month and not a big deal, but the finance side of me wants to do it right and have that money go only towards the highest rate loan! [link] [comments]  |
| Student Loans Question on Refinancing Posted: 02 Jan 2018 09:22 AM PST Hey so I am currently taking a loan for my college and I am doing it through edvestinu. My family prefers to do a fixed rate and so we chose a rate of 6.25 or something very similar to that. It was the lowest financing option. We found that the rate was too high and really want to refinance it for a much lower rate if possible. I am not too clear on how this stuff works so I would really appreciate if someone could inform me about what steps I should take and where exactly I should look to find this information and if it is likely to find a lower refinancing option. Thanks! [link] [comments]  |
| Payoff strategy when portion of loans in deferment? Posted: 02 Jan 2018 06:37 AM PST I am employed full-time with a compensation package that includes a comfortable salary and tuition for a part-time JD program. As a result of my student status, my state and federal loans are in deferment while my private loan is currently in repayment. I'm not looking for a detailed analysis of my budget or anything, but I would like to see if anyone has any suggestions for general payoff strategy given my situation (i.e., where to prioritize any extra payment(s) at the end of each month moving forward). Brief overview of my outstanding balances: In repayment: Private (Sofi): ~$24k @ 4.7%. This is the result of a consolidation/refinance from Navient. My current monthly autopayments would payoff this amount in several years at approximately the same time deferment periods for the below accounts end. In deferment: Federal: ~$24k @ 6.8%. State: ~$15k, which consists of different amounts @ 2.4%, 5.7%, and 6.5%. I have already paid off any unsubsidized amounts in these accounts so that nothing in is accruing interest during the deferment period. My current plan: Prior to the end of my deferment period when accrual kicks back in for federal/state loans, I plan to consolidate/refinance any amounts that can get improved rates. In the meantime, it makes sense to direct all extra money at the end of each month to the private loan since it's actually accruing interest. However, I'm wondering if anyone sees a rationale for paying down these other accounts during the deferment period. I appreciate any thoughts! [link] [comments]  |
| Extra Student Loan Money - Pay to Nelnet or Give Back to School? Posted: 02 Jan 2018 08:07 AM PST I'm in my second semester of grad school and each semester so far it seems I have a little extra student loan money that gets direct deposited to my bank account. Last semester it was around $300 and this semester it was $133. The first time this happened I asked if I could give it back and the school created a payment on my school account. This time I just paid it to Nelnet, where all my loans are currently in deferment. Is one option better than the other, financially speaking? Its a tiny amount of money compared to my student loan balance (currently at around $19,000 but going to get bigger) but I don't want to pay any more interest than I have to. [link] [comments]  |
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