- My friend took a loan for college tuition the university cashed it but none of it went to tuition and university is claiming they didnt cash it but bank statement is saying otherwise What should he do?
- Temporary high paying job - best way to pay off loans quickly?
- Any hidden gems of advice? 100k private, 20k federal
- 10k in Student Loans. Completely unsure of what the best course of action is. Help!
- At the end of IBR will principal and accrued interest be forgiven or just principal?
- So I finally decided to get my shit together. $60K in student loans from three different places. Is refinancing the best way to go?
- Can someone explain a PLUS loan to me?
- Relationship Strained by Debt
- Looking into options for paying off a $80K student loan with a lump sum. Talked to a financial company with a 'too-good-to-be-true' offer. What's the scam here?
- Best student loan refinancing?
- Figuring out what I owe
- I graduated in December of 2017, but Sallie Mae thinks my grace period ends in May of 2019. Should I inform them of the error?
- Student loans HELP
- High Interest Private Loans
- Error on 1098-E
- Expression SAE Tuition Options
| Posted: 29 Jan 2018 08:28 PM PST I have no idea if this is the right place to ask this and im asking this for a friend. A friend of mine who is taking classes with me had taken a loan. He was asked during the fall semester if he would like to apply this loan to fall semester but he didn't and paid for tuition with their payment plan. But he stated that he would like to save the loan for spring semesters tuition. A few weeks ago when tuition was due he saw that nothing was deducted for the tuition amount given the fact he told the financial aid office to apply it to spring semester. Long story short he went with their payment plan and paid half of it and is expecting the loan to pay for the rest of tuition. The loan was cleared since November and the university cashed it. He spoke with the bank he took the loan from and they have proof the college cashed the check but none of it went to his tuition. He went to to aid office over and over proving and showing the statement but all they do is send emails and when they do he never gets a response. His next payment is due in the next few days and if he doesn't pay he is dropped from classes and the money he paid for first half is obviously not refunded. What does this smell to you?? What should he do right now or speak to? If all else fails and he is dropped from classes should he sue? Why is the school claiming they didn't receive anything but the bank is proving they did? The funny thing is his account is still saying the loan is still there even though its been chased. ???? Has anyone heard of a case like this? Notes to be taken nothing went to anything educational for him and none of that money paid for fall semesters tuition. I don't know what to make of this or what to tell him at this point. They had already emailed whom ever and was suppose to get a reply weeks ago but they never peeped anything so he went there again. P.S The loan was cashed by the university since November for spring semester I don't know why they cant give him a straight up answer because they have done the same thing every time for the past 3 weeks!!! [link] [comments]  |
| Temporary high paying job - best way to pay off loans quickly? Posted: 29 Jan 2018 10:59 AM PST I have about 170,000 in subsidized and unsubsidized direct (federal?) loans. I just nabbed a job that pays 146,000/yr. BUT it is only a 2 year gig. After that my income will likely be closer to 60,000/yr. I would like to live extremely cheaply for these two years and pay off as much as my student loans as possible. I'm currently still in school (the job starts in a few months after I graduate) so the loans are in deferment right now. What is the best way to pay down the loans? I think I would like to make payments of around 4500-5000/month. I went into the gov student loan site and can't figure out which type of payment plan works best for this. Also, I want to make sure I'm being smart re: interest, consolidation (if I need it), and whatever other things I don't know that I don't know. Any help would be much appreciated - lurked a bit and this sub is inspirational! [link] [comments]  |
| Any hidden gems of advice? 100k private, 20k federal Posted: 29 Jan 2018 03:26 PM PST Yes that's a lot of money for a 4 year undergraduate Post-Production degree at a decent school. I also had a scholarship all four years. So it boggles me how this number got so high. But I have a job in my field, yippie! I should be grateful they say. Anyway, I'm currently in the process of refinancing that private loan for a better rate. That's if my co-signer gets approved. Otherwise I'm looking at about 200k with interest at my current rate with Sallie Mae. I know I'll do the income based repayment for my federal loans. Oh and yeah I make $17/hr as a full time video editor at a not ideal (cheap) company. The job market seems dry considering I live in a metropolitan city. But I make more freelancing, granted when that comes in. So I guess I'm looking for any advice that isn't the typical: avoid deference, snowball payments, etc. Does anyone have any wise words or experience with a similar loan to income ratio I'm dealing with? 😞 [link] [comments]  |
| 10k in Student Loans. Completely unsure of what the best course of action is. Help! Posted: 30 Jan 2018 12:01 AM PST Hey there. So I'm a college drop out with 10k in student loans. Had some bad years after that trying to recover and in general being a stupid adult and I defaulted then managed to get on a recovery program my state offers and had them refinanced(?) I guess to a different lender. I have 3 in total. 2 years later making the minimum payments and I'm ready to actually take control of my life and do things right, but I have no idea where to begin. My credit is climbing slowly, but it isn't where it needs to be yet, I believe, to find a lender with a better interest rate or to consolidate my three into one. (Is that better? I have no clue) Even if I am unable to do anything about these at the present time actually having a plan would be a great asset in getting my life back on track. Thank you in advance for the help. [link] [comments]  |
| At the end of IBR will principal and accrued interest be forgiven or just principal? Posted: 29 Jan 2018 08:59 PM PST |
| Posted: 29 Jan 2018 07:03 PM PST So I have loans from a few different places. Some with higher interest than others. Thankfully, my dad is FINALLY helping me with paying education (I'm lucky that he makes a lot), but I'm still $60K in debt with $700 a month payments if my dad doesn't help me. I'm 26 and need to cut these payments down somehow. Is refinancing the best way to go? If so, what the hell do I do? I can't pay $700 a month. I make fucking $40K a year lol. That's nearly one paycheck, on top of paying rent when I decide to move out again :/ [link] [comments]  |
| Can someone explain a PLUS loan to me? Posted: 29 Jan 2018 02:30 PM PST I'm planning on attending a four year university in the fall and I️ just received my financial aid info. It says I️ can get a federal PLUS loan to pay for the cost of attendance not covered by my grants and scholarships. Is this a good idea? What is a PLUS loan?? [link] [comments]  |
| Posted: 29 Jan 2018 06:08 PM PST Short story. I'm seeing a woman who is bad with money. In addition to substantial credit card debt, she is in negative amortization on her student loans, the principal of which is larger than my imagination would have permitted me to believe. Here's the thing - she checks a lot of boxes in terms of what I'm looking for. I also think I could train out the behavior that put her in the bad credit card spot. It seems clear that, in an ideal world, the right partner should be priceless. There will inevitably be members of the "love trumps all" crowd in here. In this instance, I need to take that off the table because I personally think the number is quite large. There is a level of practicality to be considered. . . So here is the question. How much would be too much debt for you to consider sharing your life with someone? You could state your answer as:
I'm avoiding numbers specifically to avoid answers like "you could do blah in X years". I want to know what numbers scare others so I can calibrate myself. Full disclosure - I am scared that she doesn't have her act together well enough to build a life with someone else. [link] [comments]  |
| Posted: 29 Jan 2018 05:54 PM PST I recently had a windfall and was looking into options for paying off a $80K student loan. I thought that maybe there would be some reduction in amount due if I could pay a lump sum. My wife talked to a company (Arete Financial) that she heard advertising on Sirius radio. They claimed to be able to offer her what I think is too good to be true: 3 payments of $283, then 36 payments of $39, and then 264 payments of $0 (yep, zero). They say it's legit under the 'William D. Ford Act'. It all sounds like baloney to me, so I'm trying to look into it just in the off-chance that it's not. Do you know what's the scam here? [link] [comments]  |
| Best student loan refinancing? Posted: 29 Jan 2018 05:31 PM PST My wife and I are about halfway through paying down our student debt. We get letters about student loan refinancing all the time, but I always notice the advertised interest rate isn't much lower than what I already get through the government. Some rates offered are even higher than the 6.8% offered by the Department of Education. I would like to get a better interest rate on our approximately $65K in loans with a 3-year term. My wife and I make a little over $100K between the two of us. What refinancing companies would you recommend? Or is refinancing just not a good deal in general? [link] [comments]  |
| Posted: 29 Jan 2018 05:24 PM PST Might be a noobish question, but I'm having trouble figuring out what all I need to be paying off. Anyone know if there's an easy way to see everything you owe without taking out a credit report? If you do take a credit report, can someone remind me how often you can do that and what the credit consequences are in the post-Equifax scandal world? Context: I agreed to pay for all my loans, although my parents took out a DIRECT loan, which technically lists them as Borrower. Now I'm paying off what seems like a good chunk of my loans through MOHELA and the Direct loan through OSLA. But parents just sent a screenshot of a random loan reminder for a different amount. I can't tell whether it was part of the loans consolidated under MOHELA or another one I wasn't aware of. Parents and I have a very frosty relationship, to put it lightly, and they're not exactly known for being on top of their finances, so things are tricky. Many thanks! [link] [comments]  |
| Posted: 29 Jan 2018 09:18 AM PST The typical student loan grace period is 6 months, so Sallie Mae must think I haven't graduated yet. My grace period should end in May of 2018. Should I just not say anything about this? Or should I call customer service and inform them that I graduated last month? I am fully capable of making my monthly payments already, so that is not an issue. I'm just curious if I would be doing something wrong by not informing them that my repayment should start sooner. Thanks in advance [link] [comments]  |
| Posted: 29 Jan 2018 03:14 PM PST Student loan help Okay so when I was going to school I got a private loan. and have been making payments twords it recently and it is the full amount of the schools tuition cost. Recently I've found out there is another loan by "Great Lakes" for over 6000$. I don't recall ever signing for another loan, I think it might be a Stafford loan from the calls I've tried making. Also I obviously never used any money I supposedly borrowed. I ownly ever used the money from my private loan to pay the school and I purchased all my books and etc. With my savings. Unsure what's going on or what to do please help. [link] [comments]  |
| Posted: 29 Jan 2018 08:46 AM PST Just reaching out to hear who else has high interest loans. My highest is 13% interest on a 4k loan (thankfully). Looking at you Chase student loans! I just got a new job where I can afford higher payments on the principal and I can't wait to play this one off in April! [link] [comments]  |
| Posted: 29 Jan 2018 11:43 AM PST Hey all, my girlfriend was looking to file her taxes and her 1098-E is saying she paid no interest while her loan statements show she paid interest. These are refinanced student loans with no other loans rolled in. She has tried calling Navient but they keep kicking her off saying her statement is online. Does anyone have any experience with this? Does she have any fallback, or does she just have to accept the statement saying $0 of interest? [link] [comments]  |
| Expression SAE Tuition Options Posted: 29 Jan 2018 08:58 AM PST Made the mistake of going to Expression College (now called SAE), a private digital arts school in San Jose, CA (USA). When I was there the school was still new, barely even had furniture. I talked to a financial aid advisor. He told me I would have to be taking out a federal loan and a private loan from the school to enroll. I said okay, without signing anything, or knowing the numbers. A semester or so later, I am called in by a new financial aid advisor (I believe the first advisor quit). I was then told that I would have to sign the student loads which I was as supposed to sign in the beginning AND sign two more loans in order to continue my classes. Well, of course, already at least a semester in, my mom and I signed because I didn't want to be behind my classmates. They never explained the loan to my mother and I. I ended up hating the school because it lacked a good education and because I was so stressed trying to make monthly payment(my parents are not capable of paying for school)- so I dropped out. I now owe over $20 in two different loans (the fed loans is letting me continue school without payments until after graduation)and they expect me to make monthly payments while I'm going g to school to become a teacher. I just talked to a student account representative from SAE, which was based out of state , which told me to talk to the financial aid advisor in San Jose. I am scheduled to call them today. What are my best options? I really feel like they made a huge mistake and I need all the help I can get. Thanks [link] [comments]  |
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