Paying extra on my wife's student loans always takes about ten minutes or so. Student Loans |
- Paying extra on my wife's student loans always takes about ten minutes or so.
- Refinancing rate comparison (Earnest, Sofi, ELFI, Commonbond, Lendkey, Laurel Road)
- Loans/Job Dilemma - QOL v. $$
- How will accepting a Federal Unsubsidized grad loan impact my credit score?
- When does repayment for Parent PLUS Loans begin?
- Could really use some student loan advice (undergraduate and graduate)
- Graduate loans to help with moving internationally?
| Paying extra on my wife's student loans always takes about ten minutes or so. Posted: 02 Jun 2018 08:19 AM PDT I hate sending them more money. Every time I have a little extra cash I put it towards the loans but I always need at least ten minutes to think about pressing submit before I actually do. It's an internal battle between what I know I need to do and what I want to do. In that ten minutes I justify all the reasons that I don't need to make an extra payment. "Oh I just made one last week." "Do I really want to free up 250 a month that bad?" "But I could go buy a fun new toy for my truck." "We could go on vacation." Blah blah blah... I married into her debt and I'm taking it on to handle myself. It's tough. I need to remember the positives every time. This one particular loan is 10.5 percent currently. Criminal, I know. I need that off our plate. So bad. I hate it every time I think about it. Even worse, I feel like paying them is them winning. I know in reality the quicker I pay it off the less money they will make but it certainly doesn't feel that way. Responsibility and perseverance is no small feat. Don't know what else to say other than this blows. And I thinks it's been ten minutes. I guess I'll press submit. [link] [comments]  | |||||||||||||||||||||
| Refinancing rate comparison (Earnest, Sofi, ELFI, Commonbond, Lendkey, Laurel Road) Posted: 02 Jun 2018 03:22 PM PDT I recently refinanced my student loans (35k) and thought I would share my experiences and rates/promotions I received. The following rates are all for 5 year fixed with autopay:
The bonuses are from referrals/sites I found online. The $300 earnest bonus came from a "brunch on us" special I heard about here: https://www.reddit.com/r/StudentLoans/comments/8676qk/my_recent_experience_refinancing_student_loans/ I called earnest and mentioned the brunch bonus, and they said it was an old promotion, but added it to my account. In the end, I actually ended up choosing Earnest - even though the rate was slightly higher than ELFI's, it turns out that Earnest allows biweekly payments - which actually made the total repayment amount slightly lower than the ELFI rate (I used an online calculator and compared total interest payed). Plus, they allow payments to be readjusted if you make a lump sum payment (which ELFI also allows, but it requires some paperwork). YMMV, so I would suggest applying to many companies to see what you're offered. I also read that having multiple student loan credit inquiries in a short timespan only hits your credit once, so there's no reason not to check. If you're looking for a referral bonus for either ELFI or Earnest, send me a PM and I'll send you my link (or for Earnest, consider getting a referral from the link above). Hope that was helpful, and good luck! [link] [comments]  | |||||||||||||||||||||
| Posted: 02 Jun 2018 03:04 PM PDT Brand new to posting but a longtime lurker. I have not quite learned the etiquette so LMK if I'm doing something wrong. I'm an attorney who graduated in 2011. I had a bit of a failure to launch when a medical reason kept me from taking the July bar so I passed in Feb 2012. Jobs were tough to come by then so I ended up in doc review for a while. Truthfully I got lucky and it was steady for 3 years but it came with a brutal commute 2+ hours each way. During this time I stuck my head in the sand with my loans and accrued an amazing amount of interest. Dumb I know. But I've been trying to own it and do my best from here on out. I began at my current firm 2.5 years ago. Began making ~75K and now make ~87K. My office is less than 5 Miles from my home. I work in gen lit and current work 9.5-11 hours each day. (More when in trial). I'm home by 7 every day right now. Haven't asked for a raise due to being out of the office for medical issues but want to ask soon as I build up another month of good hours. I think I can get about $92K in maybe 1-2 months from now. Paid down about 45k in the past 3 years: 14K car, 14K bar loan, 16K private loan, and 5K in federal loans. I have the following remaining: $118K at 7.9% and $110K at 6.8% both with GLL. Currently chipping away at $1000 of principal (on top of the $1350 interest) a month on the lowest loan in the 7.9% group. I think I have a shot at a job that would require a 1-1.5 hour commute each way but would pay $125K-$130K. Commuting costs would be about $5-7K per year depending on public transit v. driving/parking (which I would prefer since I don't want to be on public transit on late night). I expect the hours would be the same but obviously it would add 2.5-3 hours of commuting a day. (Before it's asked, no I am not one of those ppl who can work while commuting. I have bad motion sickness). The new job would allow me to pay an extra $1000 to my loans a month and I would probably feel comfortable enough/make enough to refinance and get a lower rate. This would shave several years off repayment. If this job doesn't work out, I think I could find something similar. But now I have concerns about quality of life. (Honestly, being an attorney is hard/stressful enough - no reason to make it worse). I live in CA in a very high COL area. My husband and I don't have kids but want them in the near future. Current arrangement: he pays our mortgage, I pay the other bills. I pay my student loans and want to do it myself. He graduated debt free. We both are happy with this and have no plans to change. What should I do? Edit: changed commuting costs to per year and fix arrangement at the end. [link] [comments]  | |||||||||||||||||||||
| How will accepting a Federal Unsubsidized grad loan impact my credit score? Posted: 02 Jun 2018 08:15 PM PDT Luckily only need the $20,500 for one year, but am wondering how it will impact my score as I finally eeked over 800 last month and hope to keep it there- can make interest payments while in school if that means anything! [link] [comments]  | |||||||||||||||||||||
| When does repayment for Parent PLUS Loans begin? Posted: 02 Jun 2018 01:04 PM PDT My mother took out a Parent PLUS Loan for me this past Winter 2018 semester. The amount was $1,500. I just read somewhere that Parent Plus Loans don't have a grace period. So they don't have a six month grace period? I'm home for the summer. I'm not taking any summer classes. Will my mother have to start making payments immediately? If I would've known about this, I would've never had her take this loan out. I feel so bad because I don't want her to take on this debt. I was going to pay for the loan anyway, but I don't have a job right now. I don't want to burden my mother with this. Could she get the loan deferred or apply for forbearance until I'm able to find a job and pay for it? I was under the assumption that Parent PLUS Loans have a six month grace period or don't require repayment until after I graduate. [link] [comments]  | |||||||||||||||||||||
| Could really use some student loan advice (undergraduate and graduate) Posted: 02 Jun 2018 08:01 AM PDT Loans through Nelnet. Groups A and B are my undergraduate loans. A- $6,454.60 outstanding with 3.4% interest B- $5,653.27 outstanding with 6.8% interest Groups C through F are my graduate loans. C- $31,487.16 outstanding with 6.840% interest D- $23,565.48 outstanding with 5.840% interest E- $22,104.21 outstanding with 5.130% interest F- $14,586.18 outstanding with 6.310% interest I am paying all of my graduate loans. Right now I am paying approximately $400/month. My minimum payment is just under $100, but I have been throwing more at it if I am under budget every month. It is set up as an income driven repayment plan. My father is paying my undergraduate loans. He wants to pay $300/month and seems fine with that unless you guys know of a better way of financing it? I'm making approximately $4,000/month before taxes. (Hourly/"Fee for service" position so my checks fluctuate). I'm not really sure if I am approaching it the best way. Should I consolidate them? The thing with that is my dad wants the undergraduate loans COMPLETELY separate from the graduate loans. Can I consolidate them into 2? Like undergraduate consolidated together and then graduate consolidated together? I really wish I knew more about all of this and what the best way to deal with all of this is. I would love to hear all of your thoughts. [link] [comments]  | |||||||||||||||||||||
| Graduate loans to help with moving internationally? Posted: 02 Jun 2018 09:54 AM PDT I'm moving to the U.K. in August. I had 35hrs+ between two jobs here in town (small town), in Iowa, just a few weeks ago. But now one of my jobs closed, for good, and the other doesn't need me for the three to four shifts/week. Instead I'm down to one shift. So, basically, my entire financial plan is fucked. I'm wondering, if there are any government graduate loans you can apply to help you with moving expenses? Like, to help me with first months and deposit in London, until my student loans reimbursement comes in. I'm paying very little for grad school, and so don't have to take out much in the way of loans, and my monthly living expenses are exceedingly low. When I'm done I'll probably have about 75/80k in student loans total, including undergrad. I'll also be working when in the U.K. (Dual citizenship). [link] [comments]  |
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