What should I do with my student loans? Student Loans |
- What should I do with my student loans?
- First time considering loans, starting masters
- PSLF Fedloan transfer
- [Academic] The psychology of money! money! money! (only US residents, +18)
- American to UK for grad school
- Is Sallie Mae's "Graduated Repayment Period" worth it?
- Student Loan Defaulted
- Help! Paying off student loan accounts and closing is hurting my credit score.
- Advice from someone with $0 debt from college: LIVE WITHIN YOUR MEANS
- Student Loan Advice
- paying off my loans asap
- Loan Consolidation and Monthly Payments (Medical School)
| What should I do with my student loans? Posted: 04 May 2018 06:11 PM PDT I have no idea where I should start, I JUST got my bachelors in Business Administration I have all this debt and my job (which I start next week) pays only $32,000 per year They are expecting me to pay within 3 days due to the fact that I took breaks throughout my school (I started at 18 and am 25 now) but I havent started working yet. I start work next monday (the same day my first payments are due) Here are all my navient loans =$46,973.78 https://i.imgur.com/KJU30pZ.png and here are all of my government loans =$44,646 https://i.imgur.com/8dliE0R.png Is it possible these two loans are the same? In other words is it possible that Navient is connected to the Government (nslds.ed.gov) What should I do!!! Any good programs for paying off these loans? How is SoFi? Edit Sorry guys for not being so clear I work in sales and am guaranteed to make at least $32,000 (base salary) However I am paid commission that $32,000 is just a safety net so I can be GUARANTEED to get paid However the average sales rep at my company makes between 50k and 60k I just haven't started yet so I am estimating the lowest [link] [comments]  |
| First time considering loans, starting masters Posted: 04 May 2018 03:14 PM PDT Hi all, I graduated from college about two years ago, and I am fortunate enough to say I am currently debt free. However, that probably won't last long enough because I am starting masters program in NYC in the fall, so I've been reading from some of the items linked in the sidebar. Currently, my tuition is covered for the first year of this two year program, however it isn't guaranteed the second year. Essentially what I want to know is how do I best go about pursuing living expense loans. I will probably need 20k each year to supplement my savings and some part-time research work (assuming I get the fellowship again second year). What do I do after I do my FAFSA? It will be done after Saturday once I get my mom's taxes. I am an independent student, but I just want to be safe in case the schools require it. I was thinking of requesting Grad Plus or Unsubsidized. In case I don't get the fellowship the second year, I will probably need to borrow more than expected. Are private loans a good option then? Also, I am expecting no financial help from my family. Edit: How long does it take to get a loan once I know what I need? How long does the application take? [link] [comments]  |
| Posted: 04 May 2018 08:04 PM PDT I received the letter saying my ECF was received and my employer qualified. That was February 3rd. It's now May 4th. Is it normal that I haven't heard anything back yet. I saw an old thread where someone said it took them 10 months. Just making sure it's supposed to take this long. In an unrelated question, is the July 2018 deadline for real for taking out new loans that would qualify for PSLF? I wasn't planning on taking out another, but I was offered another loan, and if this is my last chance, I might take it, however, the class the loan would go towards doesn't start until July 5th, but the loan would be disbursed about 7 days prior to that. [link] [comments]  |
| [Academic] The psychology of money! money! money! (only US residents, +18) Posted: 05 May 2018 01:04 AM PDT Hi, we are investigating the psychology of money. What does money mean to you? Why do you want it? How are these related to your personality traits and other social beliefs. Please help us explore these research questions by participating in this interesting study. Please click or copy and paste the link into you web browser to complete the study. Thanks! https://uic.ca1.qualtrics.com/jfe/form/SV_bJgTLvUsM2YAT5P. [link] [comments]  |
| American to UK for grad school Posted: 04 May 2018 11:01 AM PDT Hey all, I finally decided that I'm going to attend the University of Leeds in the UK this upcoming year for my Masters in Electrical Engineering ! I'm an American and now comes the fun times of figuring student loans and how to actually pay for schooling. Do any other Americans have suggestions? I was planning on just doing the FAFSA and potentially a private loan but I wasn't sure if others had gone through this experience before me. Can international students typically get loans through the university or the British government? I'm really clueless about this so any tips or comments would be greatly appreciated! Also, if anyone has any scholarship recommendations I'm more then happy to listen lol [link] [comments]  |
| Is Sallie Mae's "Graduated Repayment Period" worth it? Posted: 04 May 2018 07:14 PM PDT I'm really freaking out right now about my upcoming payments to Sallie Mae (nearly $1400 a month.) I'm still new to my industry and I know that with time I'll get higher income. However I don't know how long that'll take. That being said, I saw on Sallie Mae's website that I'm eligible for the "Graduated Repayment Period." Sounds good, I just pay only the interest accumulated that month. Big downside is that 1 year from now when I'm out of the GRP, my monthly payments are going to be even higher than they are now. So I'm asking people who took the option what they're experience was like once it ended. I don't know if it'll be worth if it my payments are going to be higher. My goal is to get my co-signer released from my loans, get my loans refinanced, and begin to pay them off at a lower interest/monthly amount. [link] [comments]  |
| Posted: 04 May 2018 10:02 AM PDT So my student loan defaulted. It's been under 30 days though, so maybe it's not an irreparable situation? I know I need to contact them now but I'm just in panic mode from having seen it and don't want to walk into the conversation flustered and ignorant of my options/best course of action. What are the things I should know or ask when I call? Please help me get this sinking feeling out of my stomach guys. Thank you for any and all help/insight. [link] [comments]  |
| Help! Paying off student loan accounts and closing is hurting my credit score. Posted: 04 May 2018 09:22 AM PDT My credit scores having been falling as I pay off my smaller loans with higher interest rate. I am not sure how to tackle these loans with affecting my scores. Should I pay off all but a few dollars and keep the account open? I don't have a very long credit history so I am worried how much my score will drop once I close even more accounts. [link] [comments]  |
| Advice from someone with $0 debt from college: LIVE WITHIN YOUR MEANS Posted: 04 May 2018 07:39 PM PDT Do you know why most people live with crushing student loan debt? It's because they, someone from a lower class family, went ahead and signed up for a $30,000/year private school because their teachers told them for the last 10 years that the more "prestige" the school had, the better off you'd be. DON'T FALL FOR THE PEER PRESSURE OR FROM THE POOR ADVICE OF OUT-OF-TOUCH TEACHERS OR IGNORANT-BUT-WELL-MEANING PARENTS I'm sick of seeing kids ruin their lives with a house's worth of student loan debt. Please listen to someone who grew up dirt poor and is will be a multi millionare by retirement:
The purpose of a college degree is financial. It is to get you a career. It's a piece of paper that gets you ahead of the guys that don't have a piece of paper declaring they have a basic understanding of the subject-matter. If you're going to college for anything except a career and you're not some trust fund baby, then you should not go to college. There are three things you need to check before you even sign up for college: i. Is this degree useful? If it's underwater feminist stealth knitting, drop out now. ii. Am I likely to get a starting job with this degree? Not Ll degrees are made equally, but they will all cost you the same amount of investment! If youre a mediocre student pursuing a degree that's very competitive, stop while you're ahead. iii. Am I willing to put in the effort to master my craft? If you hate it, drop it. There is nothing wrong with not having a degree. There's two factors that matter in life when it comes to financial success: motivation and smarts. If you're a motivated guy with no degree, you're going to do better than a lazy Hispanic Studies major with 300k in student loan debt. College is NOT for everyone and it doesn't have to be for you. The point of a college degree, again, is to get your foot in the door of a career. For the most part, an employer is looking to hire a college graduate for one reason: budget. They're on a low budget and can't afford a seasoned professional, so they have to find a fresh face to train. If you have a useful college degree, then most employers will not care where you graduated from. They'll look at the following, in this order: 1) experience (internships) 2) GPA 3) college. If you've got two internships at TechCompany123 and graduated from a public university, you're in a bracket above a Harvard graduate with 0 internships. After around 5 years of experience, practically no employer will care what school you graduated from nor your GPA, they'll care about your experience. The prestige of the school will matter as much as the fact that you can also speak Spanish: it'll shoot you across the finish line if they've got an identical candidate, but it's mostly a useful fact. With that in mind: if you're poor, then you have a few options: work, scholarships, community college, and college credit courses in high school. Combine those to get you the best investment you can find. Get into the college that's willing to pay you the most, do the general electives with a cheap community college, and shave some of those with AP credits while working to pay for th rest. Don't be an idiot and go to a school that'll give you nothing because of the "prestige." You will not become successful overnight. It requires patience, and a lot of wisdom. Don't waste your money, and don't waste your time. Above all: have the wisdom to understand where you stand. Don't assume that you're going to be successful therefore you can afford to take $XXXXX in loans. Realize you're poor, and spend within your means. You will work very hard and enjoy the fruits of your labor. Pick up a Bible and read Proverbs, kids. [link] [comments]  |
| Posted: 04 May 2018 07:49 AM PDT I am currently applying to graduate schools and need advice about Student Loans. I had scholarships for undergrad so I do not have any experience on the subject. I am 30 years old, I have a house with a $400 dollar a month mortgage and approximately $500 in other monthly costs (utilities, cell phone, car insurance, internet). If I return to school I will need to take out a loan to cover these plus daily expenses such as food and gas. My tuition will be around $28,000 over two years, my living expenses should total around the same amount (28k). Is it worth it to take out almost 60k in student loans to get my masters? I will make approximately 15-20k more per year after I graduate. My other option is to go to school part time and continue to work. My concern with this is that I will not be able to devote as much time to my studies and that I will miss out on networking opportunities. Thank you for taking the time to read my post, I look forward to any advice you may be able to give me. [link] [comments]  |
| Posted: 04 May 2018 09:42 AM PDT I student teach next semester, and lately ive been thinking alot about my loans. I do not regret them at all an have loved every moment I've been here. I have maybe about 30k in federal loans. Whenever I get a job I will likely make atleast a 50k yearly salary before taxes. I am a musician so idk how to finance or anything about taxes... Anyways I can live pretty poor because I have all my life but I need to get these loans out the way so I can go to grad school. I have several prospects with full assistantships and tuition waviers but i am hesitant to let my loans sit around while I am doing that just to go back to the same field. [link] [comments]  |
| Loan Consolidation and Monthly Payments (Medical School) Posted: 04 May 2018 05:37 AM PDT I have posted before about whether or not to report income that I have received when applying for loan consolidation, while also working before starting residency. Basically I had time off at the end of medical school and decided to work a couple months full time before residency. I'm currently making enough that I would need to report that my income has significantly changed. My question is if I were to end my current employment before applying for consolidation, could I then apply and report my income as not having significantly changed? I'm going to have a 2-3 week gap between my employment ending and residency starting and if I can apply then and make $0 payments for a year then I'd take advantage of that. [link] [comments]  |
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