What is the etiquette on posting to social media about paying off your loans? Student Loans |
- What is the etiquette on posting to social media about paying off your loans?
- Will I pay penalty taxes if I use my Retierment to help pay off a parent plus loan?
- Need a private student loan but don’t have a co-signer, running out of time!!
- Torn between being happier living in an apartment or paying off loans quicker by living at home.
- Finally Starting to dig out and feeling VERY overwhelmed. I'm not sure which direction to go in. 225k fed loans in REPAYE. Household take-home of 123k.
- Wife's loan deferment did not go through, what should we do?
- Being 100% Permanent and Total disabled through the VA.
- Overwhelmed by 117K private student loans
- myeddebt.ed.gov is constantly down for weeks or months at a time, what do?
| What is the etiquette on posting to social media about paying off your loans? Posted: 03 Jun 2018 02:19 PM PDT I'm 25 and going to make my final payment to my student loan at the end of this month. I am pretty ahead of schedule, and I am proud of my achievement. No one knows besides my parents and bf that I am about to be out of debt because I feel awkward/embarrassed talking about it to people who also have debt. Would it be in poor taste to make an Instagram or Snapchat story about it? Have you done that? I want to because I'm so excited, but I don't want to if it will give people the wrong impression that I am humble bragging. Should I keep this to myself unless it comes up in conversation? What do y'all think? [link] [comments]  |
| Will I pay penalty taxes if I use my Retierment to help pay off a parent plus loan? Posted: 03 Jun 2018 07:43 AM PDT I have a defaulted Parent Plus Loan, I'm the parent. I have retirement savings and fortunately I have a pension that I can rely on for retirement. If I pay a lump sum now the repayment is less. Anyone have any experience with this sort of thing. [link] [comments]  |
| Need a private student loan but don’t have a co-signer, running out of time!! Posted: 03 Jun 2018 09:45 PM PDT Long story short, I got into the program of my dreams at a private university after 2 years of hard work. It starts in 2 weeks, and what I've been offered for financial aid leaves me short about $6k for this school year. My only option is a private student loan, but I don't have anyone that can co-sign for me as everyone in my family has poor credit. I am 23 with a credit score of about 750, and my credit history is about 4-5 years old. I have no income. I am wondering if anyone knows institutions who will approve me for the $6000 without a co-signer or income of my own, but with the credit score I have. I am starting to panic because as I said, I'm supposed to start in 2 weeks. If anyone has any suggestions, I'd really appreciate it! Thank you!! 😓 [link] [comments]  |
| Torn between being happier living in an apartment or paying off loans quicker by living at home. Posted: 03 Jun 2018 09:18 PM PDT So I just graduated college on May 5th. I'm trying to decide on what I should do as far as living arrangements. I just accepted a job offer for a job in my state's capital that I begin on June 15th. The salary is $31k, but after a few months if I do well enough, I am eligible for a small promotion to roughly $35k and will be eligible to make commission. My current student loan situation: $50k debt, interest rates on Parent Loans around 5%. I am trying to decide whether to live at home as long as possible, or move out to the city. My commute to work will be 45 minutes from where I live when I'm at home. At home, I pay for nothing. Groceries, rent, etc, my parents don't make me pay a dime. However, I am somewhat unhappy being at home. I truly miss the freedom I had when I was at an apartment in college, I dislike the distance from the city (also where my best friends and favorite bars/clubs are located), and my younger sister is a sophomore in high school and is currently in an extremely annoying and bratty phase (seems to be getting worse). It stresses me to be in this environment. Alternatively, I could rent an apartment with two friends and would pay about $5k-$6k in rent per year. My question is, what would you guys suggest? Is the money saved substantial enough to sacrifice general happiness? I would definitely be happier on my own, and I'm unhappy living at home, but what would you suggest from your own personal opinions/experiences? Thank you in advance for your insight. [link] [comments]  |
| Posted: 03 Jun 2018 05:11 PM PDT I didn't actually take all that much out, but for a variety of reasons (among other personal things, I was willfully ignorant), it is what it is now, and the interest is killing me. I'm finally starting to implement a plan, but I'm trying to figure out the best plan and have several questions. I have about 10 loans, all federal, and the max interest rate (about 105k worth) is 7.65%, but the remaining 121k is around 5%. My average is around 6.8%. It's tough to tell exactly, but I was in straight IBR for 2 years, and I've been on REPAYE for about 1.5 years. My plan is to start putting about $2,300 monthly toward the highest interest rate loans first and to possibly refanance the higher interest loans. This puts me somewhere around 10-12 years of paying it all off. I also get bonuses/tax returns which should allow me to put some large chunks away at different points. So, I think I can be done in about 10 years. My salary will also go up and allow me to pay it off sooner maybe.
Any advice or input is appreciated. I'm really beating myself up for sticking my head in the sand as long as I have. But I've finally come to terms that I've got to take care of these, and that it makes the most sense to simply pay these off rather than allow them to sunset. Thanks in advance. [link] [comments]  |
| Wife's loan deferment did not go through, what should we do? Posted: 03 Jun 2018 04:26 PM PDT My wife and I recently graduated from law school and we took out lots of student loans to do so. Our understanding was that loan payments are not due until six months after graduating, but (apparently!) her first payment was due yesterday even though she just graduated two weeks ago! She applied for a deferment when she took out her final loans for this past semester, but the government loan website says her application for deferment is still being processed. Nevertheless, the government has said she is past due on her payment and we know very harsh penalties await if this is not quickly resolved. We're going to call tomorrow, but is there anything we should know or ask about during our conversation with the loan representative? Thanks! [link] [comments]  |
| Being 100% Permanent and Total disabled through the VA. Posted: 03 Jun 2018 06:22 PM PDT If you are rated 100% disabled and it is total and permanent. You are eligible for your loans to be forgiven. You will still have to pay the taxes on the forgiven amount, but, it will be less than what you owe. All you have to fill out is section 1 and 2 of the Forgiveness paperwork and provide proof of your 100% disability. Hopefully this helps someone out. [link] [comments]  |
| Overwhelmed by 117K private student loans Posted: 03 Jun 2018 08:05 AM PDT Loans through Discover: A. $48,798.86 with 12.75% variable interest B. $40,833.96 with 10.75% variable interest Loan through Navient: C. $27,601.13 with 10.50% variable interest I've been working at my job for 2 years and take home about $1,460 a month, but my payments keep increasing and it's to the point that they cost more than what I make. I've tried refinancing the total amount through multiple agencies but my income to debt ratio is too big. I would need a co-signer but no one in my family is in a position to be a co-signer and take on this much debt to their credit. I have Federal Loans, but those are at fixed interests rates and are being taken care of through an income based repayment plan, so I'm not worrying about them right now. I am really scared. What can I do? Should I just try to refinance each of them separately to get lower, fixed interest rates? Or will I continue being denied because I don't make enough? [link] [comments]  |
| myeddebt.ed.gov is constantly down for weeks or months at a time, what do? Posted: 03 Jun 2018 09:21 AM PDT As far as I can tell this website is the *only* place that I can make payments on my student loans. When I call the DoE the automated system tells me to go that site (which is currently down and is rarely up), and if I go through the whole automated thing to try and pay it over the phone it tells me my loans are contracted out to Reliant Capital Solutions and that if I want to make a payment or get more information I have to call them. Except I tried to make a payment on Reliant's website a while back, and it was returned to me. When I called them to find out why, they said I have to make my payments on myeddebt.ed.gov (which again, is "down for maintenance" more often than it's not). Tried calling Reliant again today to see if they have some other way around this situation but of course they're closed on Sundays and now I'm going to have to spend my lunch break at work tomorrow calling them. So frustrating. I am finally in a decent financial position to start making some big payments on this stuff and I have a solid plan to be completely debt free within two years, but now it's like they don't even want my money. [link] [comments]  |
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