My college lost its accreditation and now I have to start over, can you give me some advice? Student Loans |
- My college lost its accreditation and now I have to start over, can you give me some advice?
- Can my mom and I both claim interest paid in 2017?
- Are you allowed to amending your tax filing status after earning PSLF forgiveness?
- Settled some student loans in 2017. Will I get formal documentation of my tax liability?
- Tomorrow is the day.
- Is going from standard to graduated repayment to lower monthly payments a good move?
- I'm a psychologist working at a for-profit hospital. >200k owed. Fedloan certified my employment for PSLF, but I think theyre wrong. What should I do?
- Discovered I have the opportunity to utilize PSLF. Still enrolled in school and in deferment. Also, possibility of inheritance. What would you do?
- Total Permanent Veteran and Disability Discharge
| My college lost its accreditation and now I have to start over, can you give me some advice? Posted: 28 Jan 2018 03:31 PM PST Thanks for checking in here and having a read! I was a student at my local Provincial College (Canadian Student by the way) doing the Respiratory Therapy program, which unbeknownst to the students was actually under Academic Probation from the Council on Accreditation of Respiratory Therapy Education (CoARTE) and ended up losing its accreditation while I was in the middle of the program. It was a big fiasco that I won't bore you with, but basically the College didn't tell us anything and left us high and dry, so I applied to my local university in hopes of getting a Bachelor of Nursing. It was too late in the year to apply (this happened in June) for nursing, but I was accepted to do general studies in the meantime to get the "Non-Nursing" courses required for a BN. However, after 3 years of studying RT, my money that was saved for school is running dry. I'm living away from home, and was unable to get Provincial Student Aid this Academic Year due to delays regarding the late program switch/general confusion around the whole situation. I'm looking for advice on financial aid for school - what scholarships are there that I can apply for/what are some good databases to look at? What other sorts of financial aid programs are offered to Canadian students other than student loans? I've looked to my bank for options as well, but so far they have turned up nothing. I've tried Googling it but there are so many different sites and ads that it's overwhelming, and I basically just need to be pointed in the right direction. If this isn't the correct subreddit please let me know and I'll post the proper one! I truly appreciate any and all advice you have to offer, and thank you for reading! [link] [comments]  |
| Can my mom and I both claim interest paid in 2017? Posted: 28 Jan 2018 07:47 PM PST I graduated Dec 2016, and during the first half of the year, my mother paid interest-only (as she has been throughout my college career, thank god). When I began my job in June, my loans came into repayment and I have been handling the payments in full throughout. Her payments for the first half of 2017 are almost exactly $2500, and the total interest is $6100. Since we split the year responsibility-wise, can we also each take the $2500 deduction that we paid into? [link] [comments]  |
| Are you allowed to amending your tax filing status after earning PSLF forgiveness? Posted: 28 Jan 2018 08:07 PM PST Let's imagine that filing your taxes married filing separately gives you a better deal on your student loan payments, even though you're missing out on some tax credits and deductions. After you earn total and complete loan forgiveness through PSLF, are you allowed to amend your last 3 years of returns and change your tax filing status to Married Filing Joint, and claim all those deductions and credits and get more money back? [link] [comments]  |
| Settled some student loans in 2017. Will I get formal documentation of my tax liability? Posted: 28 Jan 2018 10:24 AM PST I've read that any settled student loans (specifically, the difference between the initial loan(s) amount and whatever I payed) counts as taxable income. Should I expect to receive any formal tax notice for 2017 about these settled / forgiven loans? My loans were with Sallie Mae / Navient and settled through Allied Interstate. Once I completed the 12 required payments, I never got any formal notification that I had completed my obligation or that X amount would be taxable income. The loans just disappeared from my account in Navient. [link] [comments]  |
| Posted: 28 Jan 2018 07:00 PM PST Having a student financial advisor assist me in calling my student loan provider to help me set up a payment plan. I'm excited yet nervous at the same time, as I have put this off for 6 months. She said I will need my w2's from 2016 and my pay stubs from 2017. I don't have either of these things, but I hope I will still be able to come to an agreement to make affordable payments, such as <100 dollars a month. Any advice when talking to these people in the conference call tomorrow? I need all the motivation I can get. I have around 8k in loans. [link] [comments]  |
| Is going from standard to graduated repayment to lower monthly payments a good move? Posted: 28 Jan 2018 09:06 PM PST I've been on the standard payment plan for awhile but need to lower my payments due to COL increases. The monthly payments on graduated repayment fit in with my current budget. I realize that I will be accruing more interest over the term of the loan and that the monthly payments go up fairly significantly towards the back end of the payment schedule. Is there anything that can be done to offset the large payments at the tail end of the payment schedule? Can I switch back to standard payment say after 3-5 years? Or can pay a little more each month somewhere down the road to where it would decrease the balance of the loan (and lower the payments)? [link] [comments]  |
| Posted: 28 Jan 2018 12:49 PM PST Hi everyone, my first few years after graduation I worked at a state university, which as a 501c3 certainly qualifies for PSLF. I got offered a job at a hospital with a significant pay jump so I relocated. The hospital is for profit, but the physician group that employs/pays me is a non-profit. Here are the details: . My employer is a not for profit registered with the state, it is not a 501c3. . If I go through page two of the certification checklist here: https://studentaid.ed.gov/sa/sites/default/files/public-service-employment-certification-form.pdf , I answer "no" to # 9 & 10, yes to 11, and no to 12. For number 13, I work in a hospital as a health psychologist. This seems to fall under "public health". It says see section #6, which then directs to the BLS list of "health care occupations". . BLS health care occupations can be found here: https://www.bls.gov/ooh/healthcare/home.htm It lists psychiatrists but not psychologist, although as a health psychologist in a hospital I am obviously in the health care field. Nonetheless, psychologists are listed under Life, Physical, and Social Science Occupations, found here: https://www.bls.gov/ooh/life-physical-and-social-science/home.htm . So, it looks like I do NOT qualify. . I submitted the employment certification form to fedloan and they initially denied me. I submitted documentation showing the non-profit status of my employer. This worked and they certified me. As we have all seen here, fedloan makes mistakes. I'm afraid they made a mistake, and I don't want to find out in 5 years that this employer actually doesnt count. . With my debt, I have to go through PSLF. What should I do? [link] [comments]  |
| Posted: 28 Jan 2018 09:35 AM PST Hi r/studentloans, I am feeling pretty overwhelmed as I just learned that my job qualifies me for PSLF and I'm looking for advice on what to do. I will try to make this as brief as possible. I am a sixth year PhD candidate (all but dissertation) and I just got a job at a non-profit that I really like. I have ~$75k in loans. Here is a breakdown: Two consolidated loans held by Nelnet (combination of unsubsidized and subsidized from undergrad): $45,405 at 5.63% Direct Subsidized Loans: $8,321 at 6.8% Direct Unsubsidized Loans: $18,608 at 6.8% I make $69k a year in salary. I am married and have one kid. Spouse makes $43k a year (no student loans). I am expecting an inheritance from my dad's estate (he passed away eight years ago) within the next year. We would also like to buy a house within the next year. The questions: Do my consolidated loans even count towards PSLF? (if they don't, this would be a moot point since my direct loans would definitely get paid off before the ten years mark) I pay a nominal fee for remaining enrolled as a full-time student in my grad program (~2k per year and my job will begin paying my tuition fees in 2019), but I also accrued ~3k in interest this past year. Would it be smart to stay in deferment and wait for the inheritance or to begin IBR now and take advantage of PSLF? Ideally, I would be able to put any extra income towards a downpayment on a house, but if it's smarter to do PSLF, then I would consider doing that and continue renting. There is a possibility that the inheritance would also provide enough to help with the house downpayment. tldr:PhD candidate just got new job. Now qualify for PSLF. Leave deferment and begin IBR or continue deferment and wait out inheritance? (would also like to buy a house soon) Thanks for your time. Edited to add: My AGI is around $60k and I believe that my consolidated loans are federal stafford. [link] [comments]  |
| Total Permanent Veteran and Disability Discharge Posted: 28 Jan 2018 11:46 AM PST Hi there, I've read as much as I can through searches and online, but I'm still confused. Does VA total and permanent disability count toward disability discharge, and if that's the case, what are the "need to knows"? Can I work? (Psychiatric disability) Can I attend grad school? (I won't need loans) What is the process like? I'm graduating in 6 weeks with my BS. I have no particular issue or reason to believe that I can't pay back my loans (not much, $16k total), I'm generally not a fan of "taking advantage" of benefits that could benefit others, but if I can take advantage of this program, I'd be stupid not to. I have 4 kids, a wife, and a house, they come before my pride. [link] [comments]  |
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