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    What do you wish you knew before taking out loans? Student Loans

    March 04, 2018

    What do you wish you knew before taking out loans? Student Loans

    What do you wish you knew before taking out loans?

    Posted: 03 Mar 2018 03:45 PM PST

    I'm a 1st-year undergrad student in the process of accumulating loans (all federal so far) and just wanted to ask for some advice along the way.

    submitted by /u/sadmemesfromathens
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    How do I check accrued interest on individual loans?

    Posted: 03 Mar 2018 07:24 PM PST

    My servicer is Navient and I'm enrolled in REPAYE. The government is supposed to be paying some percentage of my interest every month, but for obvious reasons I don't trust Navient. How do I make sure that this is actually happening?

    submitted by /u/SpartyOn32
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    Regarding Navient loans: What kind of IBR would I have to pay on gross monthly income of $1000 a month, working less than 30 hours a week?

    Posted: 03 Mar 2018 10:17 AM PST

    You may scoff at this low income but I actually can survive on this paltry amount just fine with a little to save each month as well. Another upshot is that I have 100% job security regardless of the economy or political situation.

    My student loans have been in forbearance for years and I was thinking about exploring IBR or "Pay as you Earn" options now that I'm making a steady, however low, legal and taxable income.

    Last year was the first year I filed income taxes for years, on a gross taxable income of roughly $3,000. This year I most likely will show a taxable gross income of $12,000.

    I am working on a permanent part-time job for a major international company and am not seeking full time employment just yet, and also am not seeking to get employed in the field in which I got my (relatively expensive) degrees. Once again, you may scoff, but I'm perfectly content to live like this.

    Note: If it may help with the IBR process, I would be willing to make a nominal effort to seek full time employment, in order to keep the paperwork legit.

    So how should I approach this.

    submitted by /u/fizzle63
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    Best way to pay off my debt?

    Posted: 03 Mar 2018 04:16 PM PST

    My debt amounts $15800 with an interest rate of 1%. I'll end up with about $2000 (maybe a few hundred dollars more) in savings this summer, where I graduate. I'll end up with a job that pays $2700 a month after taxes. I need to find a new apartment, but it won't be more than $580 a month in rent.

    Any tips or general thoughts on my situation would be much appreciated.

    submitted by /u/LOLUSTUPID_OKAY
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    When do subsidized loans begin accruing interest?

    Posted: 03 Mar 2018 11:49 AM PST

    I graduated in December 2017. Navient says my loans are "In Grace" and repayment begins 6/16/2018. Want to pay them off before interest starts.

    submitted by /u/hmwcawcciawcccw
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    Grace period vs. deferred loan

    Posted: 03 Mar 2018 03:23 PM PST

    Recently graduated in Dec '17, began working in my field this month and want to pay off as much accrued debt as possible before repayment starts in August.

    Looking through my loans, all are listed as being in grace period except one direct graduate loan which is listed as deferred.

    From what I read, I can't tell if this is a mistake or just typical for this type of loan. The due date for the deferred loan is the same as those listed on my loans in grace period.

    submitted by /u/somo47
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    Am I allowed to switch from income driven plan to term based plan back to income driven plan?

    Posted: 03 Mar 2018 03:07 PM PST

    I recently got my IDP calculated and it's a bit over what I'm ready to pay just yet. I know that eventually the interest will be more and IDP is best in the long term, but I'm paying off a lot of debt I got into before I was hired full time. I could use about 5 months or so to put about 80% of my income into paying off this debt and I'd feel a lot better. Is it possible to switch from IDP to term based plan and back to IDP when I'm ready? Would I be fined or penalized in any way? is there any other alternative? Thanks! I'm the first to graduate from my family and most of my friends got their parents to pay off their loans or didn't go to college so I have no clue who to ask.

    submitted by /u/achromatism
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    MyGreatLakes Student Loan moved from IBR Plan to Forbearance... is it an easy fix to go back?

    Posted: 03 Mar 2018 05:45 AM PST

    I dont know how it happened, but both my account and my wife's account went into Forbearance at 5:03am this morning when we were on the IBR Plan for almost a year now. I am planning on closing on a Mortgage in less than 3 weeks. Will Great Lakes fix this fast? Will this have a major impact? What could anyone recommend in this scenario?

    submitted by /u/Ruhex
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    Refinance Student Loans Referral Links?

    Posted: 03 Mar 2018 05:38 AM PST

    I am about to start the process of applying to lenders to refinance my student loans. Does anyone have referral links where they would receive a bonus and I would also get a sign up bonus?

    I have already started my process with Earnest so it might be too late for them but am open to others

    submitted by /u/dstone84
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