167,399.69 in debt /on IBR / but any other ideas of what coud be done? Student Loans |
- 167,399.69 in debt /on IBR / but any other ideas of what coud be done?
- New and Confused, Not sure how to pay
- Thinking about refinancing my current variable rate loan while still in school, but unsure of what to do overall. Help?
- Private Student Loans
- On the new format MyFedLoan website, will making a payment to 'All Loans' count towards PSLF (if you only have one consolidated loan)?
- Parent Plus Loan Payment Due- Confused?
- Is my MPN still valid? HELP
- Issues with an OSEP grant for a Ph.D program becoming a loan instead. Will it qualify for PSLF?
- Pay a Large Chunk of Loans off Before or After Refinance?
- Student Loan Consolidation
- MSc in Germany -- need finance help.
- Short, small loan offers have very high interest rates?
| 167,399.69 in debt /on IBR / but any other ideas of what coud be done? Posted: 28 Jun 2018 11:03 AM PDT Hi, im fairly new to reddit and to this sub, please let me know if this is not the appropiate place to ask for this. I got into tons of debt for my grad program, was unemployed or underemployed for several years after graduation. finally got into a IBR program once i got a more stable job, however after like 3 years of paying the interest just keeps pilling up. What can I do to make this more manageable? Here is the breakdown of what I own (all under Navient) 1-01 Graduate PLUS $57,271.17 8.250% 1-02 Graduate PLUS $53,081.50 8.250% 1-03 Stafford - Subsidized $9,370.32 6.550% 1-04 Stafford - Unsubsidized $18,640.90 6.550% 1-05 DL Consolidated - Subsidized $9,449.92 6.300% 1-06 DL Consolidated - Unsubsidized $19,585.88 6.300% i heard some people have done re-financing, but im afraid i would lose the ibr benefits or protections in case i would be lay off or something like that. im a bit overwhelmed...any ideas or suggestions are welcome and thanks in advance edit other financial info: my income is 50k, my rent is about 1000 x month, currently ibr payment xmonth is $400 [link] [comments]  |
| New and Confused, Not sure how to pay Posted: 28 Jun 2018 10:57 AM PDT Hey there, first time poster. I'm a recent graduate working at a minimum wage job and not making very much, I have 34$ to my name, I'm 17, no credit, and I have to take out private loans to be able to afford college. I did the FASFA, we were denied a parent PLUS loan (so +4,000 in fed unsub loans), and I have no credit worthy cosigners. I'm too young to take out a loan and even then, I may not get it because I have no credit. I called my FA office and it was a dead end. They said the only thing they can do is put me on a payment plan, which I also can't afford because those payment plans will still cost me 900$ every time. I just don't have that money, nor do my parents. What do I do? I'm lost- and I damn well wish High School taught me about this instead of telling me don't worry about paying for college. [link] [comments]  |
| Posted: 28 Jun 2018 04:00 PM PDT Sorry if this is a bit rambly, I'm a new borrower and the first in my family to go to college so I don't know what I'm really doing and so I'm looking for some guidance. For some background, I took out a variable interest line of credit for my first year of college for about $23,000, which was everything my federal loans couldn't cover. The starting rate was 6.5% (the lowest you could be approved for) and has been steadily increasing to 7% this month, and with be 7.25% in September. Thankfully, I transferred schools for this upcoming year and so I'd only be looking to take out around $2,000-$3,000 privately each year for the remaining three years of my bachelor's degree if I am unable to find scholarships and other grants. Due to me being a huge procrastinator last year I didn't do my loan research that well and now my dad is recommending that I refinance with a fixed rate loan instead. Should I refinance at this point in my education? Or should I wait until I graduate and then refinance? If yes to a refinance now, what lenders or programs would you guys recommend to pay off my current line of credit, and to help with the rest of my degree? Both my co-signer and I have pretty good credit (however my credit is only about a year old...), and so I'm hoping to be approved for a low fixed rate, like nothing over 6.5% if that's even realistic for my situation. So overall, I'm looking for a decent refinance program with low fixed rates and a student loan lender for the remaining cost of school after federal aid and scholarships, also with low fixed rates. EDIT: I figured I should also mention that all my loans are currently in deferment, and I won't enter repayment until 12/2021. However, I have been making monthly payments to my line of credit regardless. EDIT 2: Is it even possible to refinance while still in school? Or am I just gonna have to hope that the prime rate doesn't get raised too high for the next few years? [link] [comments]  |
| Posted: 28 Jun 2018 11:42 PM PDT To cut a long story short, I was on an Academic Leave of Absence this past school year and I've just heard this week that my school will not be awarding me any financial aid. I will need to get a private loan until my status as a student and my GPA reflect the requirements for the school and I need help figuring out who to go to for that loan. The only private loan company I am aware of is SallieMae and I would like to know if there are better options. Also, I'm really not very clear on how this would work, what amount I need to request, etc. If I need to ask for more at a later date, is that something a loan company will consider or do I need to make sure to request everything up front? Is there a way to return any money I haven't used? I'm sorry for all these questions, I'm just starting back at school in 6 weeks and this is a lot for me to parse. Thank you for your help. [link] [comments]  |
| Posted: 28 Jun 2018 08:56 AM PDT This month the website format on Fed Loan Servicing changed up just a bit. Now when I go to make a payment, it give me the option to "Pay All Loans" or select a specific loan. I only have one single consolidate loan that I've been making PAYE payments on towards PSLF (so there shouldn't be any difference for me), however I want to make sure that if I select "Pay All Loans" that it will still count towards my PSLF. [link] [comments]  |
| Parent Plus Loan Payment Due- Confused? Posted: 28 Jun 2018 04:42 PM PDT Hi Everyone, I'm sorry in advance if this is a dumb question (it probably is). My Mom took out $40ishk in loans for my school. I thought they weren't due to start being paid until 2022 (I graduate in 2020) because I thought that was what the website said but I have still paid roughly $1,300 on them overall. I go online to make a payment of $60 today since I just got some extra money, and the website says I have a payment of $123 due in August. I am VERY confused as to why I have a payment due in August. The website (GreatLakes) says: You have loans in a Student Enrollment Deferment until 05/14/2022 and in repayment. My balance is $42,861.97 with $1,463.75 of that being interest (my goal for this year was to pay all the interest, which I paid $1k about a week ago). Does deferment not mean they're not due until 2022? Overall can someone please explain to me why I suddenly have a monthly payment plan? [link] [comments]  |
| Posted: 28 Jun 2018 09:07 PM PDT Apologies if this is in the wrong sub. I accepted loans that would be for my education at CAU but I then changed my mind and decided to go to FMU. I did however sign the promissory note. I called the school and they withdrew my application I never paid a orientation fee for CAU or anything like that. I didn't have all my financial documents submitted either. I'm wondering would I still have to pay those loans because if so that would break my heart that I made a really dumb decision. [link] [comments]  |
| Issues with an OSEP grant for a Ph.D program becoming a loan instead. Will it qualify for PSLF? Posted: 28 Jun 2018 01:09 PM PDT Ok. So long story short. I started a Ph.D program in 2014 that was funded by the Office of Special Education Programs (OSEP). The grant basically stipulated that if I don't finish the program, the money that was in the grant would become a loan instead. I'm 90% sure I'm not finishing it, so it'll become a loan I guess. Now... I'm already going to be paying back federal loans upon completion of this program anyway from my Masters and they'll qualify for PSLF. My question is this.... would these OSEP grants that turn into loans (I assume federal loans) just be Direct loans? Like... could I just count them into my PAYE payment and ultimately my PSLF? If it doesn't qualify, I might just suck it up and hate my life and finish the pointless Ph.d.... Sorry for the drama, lol. [link] [comments]  |
| Pay a Large Chunk of Loans off Before or After Refinance? Posted: 28 Jun 2018 03:26 PM PDT Hey all! I just graduated and I'm strongly considering refinancing a portion of my student loans but had a quick question before I do so. I have a large sum of money saved up (~7k) that I'd like to use to pay off a chunk of my balance. Is it in more in my benefit to do this before or after I refinance? The loans I'm planning on refinancing are federal so I don't believe (correct me if I'm wrong) that there are any fees associated with paying a bunch of it right now at once. The loan was initially ~6k but the payoff amount is ~7k (I'm assuming because of accrued interest?). What would benefit me most? Thanks for your help! [link] [comments]  |
| Posted: 28 Jun 2018 07:31 AM PDT I've gotten several letters in the mail from the National Student Loan Data System telling me I may be eligible for consolidation for my loans. Obviously I would love to decrease my loan amount or interest rates but from going to the website it just doesn't seem right, the formatting makes it look like a scam and I'm not putting my SSN on anything I don't trust 100%. URL is www.nslds.ed.gov Anyone have any information or experience with these people? What were your results from using them if so? Thanks in advance [link] [comments]  |
| MSc in Germany -- need finance help. Posted: 27 Jun 2018 03:49 PM PDT I will be attending a 2 year masters program in Germany but struggling to find ways to finance my studies. FAFSA only has the university as deferment only and private lenders does not have the school on their list. What are my option? So, I only have two options that I can think off; 1. Take an early withdrawal from my IRA, and 2. Take out a personal loan. Background: Graduated from BS two years ago. Currently work in the research field earning $55,000 a year. My career goal is to earn a PhD in Europe. US Citizen here. Two-year program, with minimal tuition (~$300 per semester). For the visa requirement, I need to show ~$9000 a year or proof of scholarships/grants for living expenses. I will be moving to Bonn, Germany with rent costing from $400-800. I am hoping to live cheaply with no more than $1200 a month. Also, I can work for 19 hrs a week to supplement my cash flow. I currently have $11,000 vested on my IRA (not very knowledgeable with this). I still carry about $30,000 loans from my bachelor's degree and currently still paying for my car ($8000, car is currently valued $3000 for resale). What to do:
Any advice will be appreciated! [link] [comments]  |
| Short, small loan offers have very high interest rates? Posted: 27 Jun 2018 02:34 PM PDT So I have applied to a few organizations for a small loan to cover a year of community college and I'm shocked at the interest rates. I have pretty good credit and I have a cosigner with REALLY good credit and I'm consistently getting interest rate offers of 8%. I plan on paying as I go but I'm just shocked at the offers. Is it normal to have high interest rates on small loans? Is there something I'm missing? [link] [comments]  |
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