Asking for a friend. Really! Student Loans |
- Asking for a friend. Really!
- Method of Calculated Income for IDR Plans
- Sick, in debt, looking for a humane way to tackle this
- Good credit and income - financing grad school
- Submitted my first payment
- How long does it take for a payment made by mailed check take to post on Navient?
- Refinancing parent plus loan in dropouts name
- Going back to school and still owe federal loans?
- Question about recertification
| Posted: 27 Jun 2018 05:35 PM PDT Friends (I will callethem F ) got financially screwed. for a minimum $30,000 (the original loan) it will be closer to $50,000 ( I am gessing) after fines, collection fees and interest that they will have to pay to the collection agency. The person that did this to them is their daughter. Their 30 year old daughter. D (Daughter) wanted to get a CSI forensic investigator diploma. D needed a loan to do the school classes. She talked Mom F into signing as the Co-Signer. Mom F did sign, but did not tell Dad F. He found out because of collection calls. D has not paid any of her school loan debt so the collection agency is coming after the parents. Now Fs are dodging phone calls because they get multiple calls per day. I have no idea what, if any calls that D is getting. I do know that you can NEVER declare a bankrupcy to get out of school bills. You will always owe school loans even if you die, the co signer pays the loan to completion. D is in the late stage of pregnancy. She made a big effort to get pregnant too, knowing that her earning (I think she is a Baristra. Husband works in the produce dept at a grocery store.) would have to go toward a baby. Fs have been knocked for a loop. F's are in their 50's and living on their disabilitiy money from the government. They are honestly disabled. She has MAJOR arthuritus (bent and warped fingers is the most visual sign. Has had 2 hip operations.) And he has daily seisures issue so he can't drive.(Marijuna is illegal in our state so he can't get that help). Any suggestions about any path forward? These parents raised their kids right. So Daughters actions have really blindsided everyone. The disappointment level is huge. [link] [comments]  |
| Method of Calculated Income for IDR Plans Posted: 27 Jun 2018 11:16 PM PDT In summary, I've switched to a job that pays substantially less as a part of a career change. After some time as an associate at a law firm, it wasn't for me. I've consigned my law degree and licenses to the dustbin, and have decided on a career with infinitely more job satisfaction. The pay cut is severe, but I still earn a healthy living. That said, my IDR payments are still quite high. When I become eligible for benefits at my new company, my take-home pay will be reduced in the amount of my pre-tax medical premiums. I've already submitted an update to Fed Loan Servicing to recalculate my monthly payment to account for the lower monthly income. When medical benefit premiums begin to be deducted, is there any further relief? In other words, would the income used to calculate my IDR payment reflect the fact that the medical premium lowers my net income? Although I'm managing to get by with my income, I'm beginning to feel the pinch. Thanks for any feedback. [link] [comments]  |
| Sick, in debt, looking for a humane way to tackle this Posted: 27 Jun 2018 04:13 AM PDT Hi All - I will really appreciate any real advice I can get as my situation seems to have me fallen through the cracks of all available options. I have over $100k student loan debt from grad school, but during grad school I got very ill with a poorly understood chronic illness. I am able to work part time from home, but this gives me a huge limit on how much money I can actually make (I make about the equivalent of a full time minimum wage job working 30 hours /week) . It's been 8 years since I left school and I've been on income based repayment since with a payment of $0 and the interest is just growing and growing. These are federal loans at 6.8% after consolidation. The monthly interest is bigger than anything I can pay unless I can somehow stop paying rent. I can't simply just work for a better job - my illness is extremely unpredictable and I'm lucky to even have the flexible job I have found so far. I lived with my sister for a couple years and used my credit cards for some alternative treatments and have since paid off those credit cards thanks to the Balance Repayment Program available. However, I can't seem to find ANYTHING even remotely similar to that for Student Loans. I am not disabled enough for the permanent disability forgiveness, but I'm too disabled to work for a high enough salary that will allow me to pay off the loans, so they just keep accruing $500+ interest every month. My father is a tax attorney and we've already combed through every option for bankruptcy and it's not possible. I have no one in my life to help me with this. What I would really like is some kind of option like I had with my credit cards (that was 0% interest for 5 years after closing the credit cards, but I realise that's a super deal - would love to just lower interest to 2-4% somehow). Refinancing won't be possible until if/when I can make a substantial increase in my monthly payments anyway. I have no other assets or debts. Can anyone help me? This is super overwhelming and feels like an unsolvable problem. [link] [comments]  |
| Good credit and income - financing grad school Posted: 27 Jun 2018 07:32 PM PDT Hi all - looking for a little direction on student loans. I have never used loans in the past and had scholarships/paid my way through undergrad. Now I am going to graduate school part time on my employers dime. Employer will only pay a set amount per year so I need to essentially front the cost of school over there next 5-6 years so looking to secure loans for the full amount and I would only pay interest payments during that time. I have good credit (750+ and my wifes is 780 or so), good income (100k+ and ~150k household) so think I would qualify for some good loans and rates but I have no idea where to start. I am thinking it makes the most sense to go the private route for more competitive interest rates. If you agree, any suggestions on where to look? I have heard discover is competitive and I do have a credit card open with them so comfortable using them but happy to try others out if there are better options. I appreciate any help! [link] [comments]  |
| Posted: 27 Jun 2018 08:45 AM PDT We're on our way! It's an intimidating number but I have a plan in place to help get these guys paid off ASAP, including paying it forward during my grace period/upcoming deferral. That first payment is scary to look at but is my first step towards being debt free. [link] [comments]  |
| How long does it take for a payment made by mailed check take to post on Navient? Posted: 27 Jun 2018 12:27 PM PDT My dad surprised me by making a payment on my student loan...by mailing in a check to the company. He told me he mailed it last Wednesday and that the check was deducted from his bank account on Friday (the 22nd). As of now, the check has not shown up on my payment history. I talked to a rep last night and he said there was no indication on his end that they received a check. I make all my payments through the online payment system with my bank account. I'm fustrated. Help. [link] [comments]  |
| Refinancing parent plus loan in dropouts name Posted: 27 Jun 2018 11:57 AM PDT Hello, I am going to be refinancing my regular student loans to myself through Earnest (plan to use them) but I also need to get my parent's "parent plus loan" in my name because their own financial struggles. Is there a way I can consolidate all of these to one provider for a cheap rate? I am a dropout if that makes a difference. Any help is so appreciated. Obviously I tried searching but the dropout criteria made it a headache online [link] [comments]  |
| Going back to school and still owe federal loans? Posted: 27 Jun 2018 10:11 AM PDT I still owe some federal loans from my previous degree. I've decided to go back to school for nursing. I won't be able to work full time so I'm going to have to take out some loans for bills while I'm in school. Is it possible to take out more federal loans or do I have to go with private loans? If I can do the federal loans how should I go about it? [link] [comments]  |
| Question about recertification Posted: 27 Jun 2018 09:23 AM PDT Hello sub! I lurk here a lot but never post. So I have about $60,000 in student loans. All of the loans are federal. In 2013 I applied for income based repayment, since I was working 2 minimum wage jobs. I was approved for $0 per month. Ever year, I've recertified and every year, I was paying $0 a month. I got married in 2016, but in 2016 my spouse was a full time student and didn't work, and in 2017 he graduated. So for 2017 taxes (I submit taxes to recertify), it just showed my income and the recertification amount remained $0. Here's my issue. I recertify every July. I haven't received my recertification paperwork yet, but it should be coming within the next week. Normally I would submit my taxes, so I would submit 2017 taxes. But a lot has changed. For starters, I lucked out and got a really good job this past February -- so good that I can afford rent and bills on my own. My husband also finally got a job (yay!), but he doesn't get his first paycheck until after I should have recertified. So my income now is substantially different from 2017 taxes. However, I can only prove mine (I'm 1099 but haven't paid quarterly taxes yet), and I cannot prove my husband's income until well after my certification is due. I'm not sure how to handle this. Edit: my husband just wants me to submit the taxes and be done with it, since we've been living paycheck to paycheck and now we've been blessed with a chance to breathe and actually save money, if only for a year. I kind of want to do this too, and I get where he's coming from, but I'm afraid of the government penalizing us if they find out. Do I submit my 2017 taxes, even though current income is different? Do I certify without my husband's income? Do I ask for an extension? Do they even grant extensions? Looking for ideas here. Thank you sub! [link] [comments]  |
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