An article about what "debt relief" companies can do. This is why we stickied that post folks Student Loans |
- An article about what "debt relief" companies can do. This is why we stickied that post folks
- Could someone give me advice on my Satisfactory Academic Progress Appeal? Please?
- Grad student w/ loans who recently acquired $20k after taxes gift from a family member. How do I best utilize this?
- denied parent plus loans, what next? any recourse?
- When to apply for student loan through credit union?
- Spouse and I are both in school, but only one income. What happens when I graduate first?
- Interest rate...after interest is paid off
- Soooo, Is this legal??? (Navient)
- Student loan question
- Am I borrowing too much?
- Income Driven Repayment interest rate
- Is it bad that I am 3 years out of college and only paid half my loans off so far?
- Idea: Let companies pay 1/5 of what they pay for NFL Superbowl commercials & use the excess they used to pay to help pay off student loans and for better wages to employees.
| An article about what "debt relief" companies can do. This is why we stickied that post folks Posted: 02 Jul 2018 07:32 AM PDT And it's also a big reason why I started my non-profit. I attended this conference last month and it was a real eye-opener - even for me who thought I knew all the "tricks" these companies were using. https://www.nerdwallet.com/blog/loans/student-loans/shady-industry-finds-new-way-to-charge-student-borrowers/?trk_location=ssrp&trk_query=equitable&trk_page=1&trk_position=3 [link] [comments]  |
| Could someone give me advice on my Satisfactory Academic Progress Appeal? Please? Posted: 02 Jul 2018 07:39 PM PDT What happened: My educational career path was more difficult than I had anticipated, therefore I underestimated the importance of homework, class time and tutorials that were available and encouraged by my professors. My ignorance towards these resources that could have helped me succeed made me fail and drop several classes. For my mistakes I was unable to pass the Spring 2017 semester that affected my academic progress and withheld my financial aid. What will change: I will visit my professors during their office hours if I'm unsure about a certain subject. My visits to SI leaders and their study hours will be more frequent, even if I fully understand the subject. I will pay attention in class and complete my assignments as dictated by my professor. College for me will be a more serious matter and I will not underestimate the importance of help from my advisors, professors, SI leaders, and the institution can offer me and I will take full advantage of those resources from now on. [link] [comments]  |
| Posted: 02 Jul 2018 06:27 PM PDT First off, let me say that I am incredibly thankful for this gift I recently received from a family member and have (repeatedly) made sure said person understands that. For background, I am an American medical student entering my second year who is going through medical school 100% on loans but is also fortunate enough to not have any outstanding debt from college. For my first year of med school I took out a federal Stafford unsubsidized loan of $43K at a fixed 6.0% interest rate. This has accrued roughly $1,900 in interest over the past year and so my current debt is just shy of $45k. This loan was able to cover my tuition/fees as well as my cost of living for the past year. I plan to accept the same $43k loan which will be disbursed at the end of this month to finance my second year. The new interest rates were supposed to have been released yesterday although I haven't been able to find them online. I saw a few websites that claimed they have raised to 6.6%, but regardless I'll operate under the assumption that they have increased. So essentially I'll graduate medical school in 3 years having 4 separate ~$43k loans with ballpark 6-7% interest rates. My first question for you guys is am I financing medical school in the smartest (only?) way possible? Do you recommend I already look at refinancing my existing loan or look into potentially going for private loans to cover the costs of the next 3 years? I really don't know how good or bad of a deal I'm getting right now, I just know that the norm at my school is for everyone to accept this loan and not think any more of it. Now to the $20k gift. I currently have $10k in savings, a vehicle worth $12-14k, and a recent $20k deposit into my checking account. My first thought was to immediately pay down my existing loan with the entirety of the $20k since I'm beginning to learn the power of compound interest. But more recently I thought about how the loan for my second year will most likely be at a higher interest rate (6.6% versus 6.0%), so would it be wiser to just take out $20k less on my second year loan given the interest rate is higher and allocate the gift money to supplement tuition/cost of living? Thanks in advance! [link] [comments]  |
| denied parent plus loans, what next? any recourse? Posted: 02 Jul 2018 08:48 PM PDT so, background. my parents make a good amount of money, but between mortgage payments and health insurance and myself and my two siblings, we aren't exactly living it up. my fafsa efc was pretty high, however, so the only loans i was offered in my name were about 5500 in unsubsidized federal loans. in addition to my scholarship, i'm about a thousand short on tuition for the year, and that's not counting money for books or a meal plan. talked with parents, they agreed to take out parent plus loans on the assumption that i will pay them back when i graduate and get a job. they have okay credit (in the mid 600s i believe) and have qualified for decent mortgage and car loans before, so we assumed it wouldn't be a problem. well, we applied today and were denied. i really don't know what to do. first, how do i find out why we were denied? do i call my school's financial aid office or do i talk to the feds or what? is there any way to have it re-evaluated? second, is it at all likely that my financial aid office would offer me more aid aside from the 4000 bump i'll get in unsubsidized loans? third, are there any good private loan options for my parents to look into? i've tried my very best to cut down on college expenses. i'm commuting, i'm attending a state school that's pretty average as far as tuition costs go. i'm only getting a meal plan bc i can't count on stable money coming in to pay for food. i want to be a physician assistant and i'm determined to work my ass off to get there so i can be financially responsible and pay off all these stupid loans. i just really haven't expected these stumbling blocks. [link] [comments]  |
| When to apply for student loan through credit union? Posted: 02 Jul 2018 07:29 PM PDT So I recently got accepted into a University & was able to fill out my FAFSA by June 30th (I filled it out based on my income since I file independently) . I have an account with my local credit union and they have student loan rates ranging from 2.5% to 6.5%. But the this is I already have loans from my undergrad degree. I know I probably won't need a cosigner but I'm confused as to when I should apply for a student loan. I have a meeting with the financial aid office in 2 weeks and was planning on applying after that meeting (just to see if I got any scholarships or grants). Or should I apply for the loan now to have it ready for the financial aid meeting? [link] [comments]  |
| Spouse and I are both in school, but only one income. What happens when I graduate first? Posted: 02 Jul 2018 05:00 PM PDT This may be a silly question, but I haven't been able to find the answer. My wife left work 1 year ago and went back to school full time. She is going from an AS to an MS and has three years remaining. I'm in grad school part time with 1 year to go. I work full time and support us both. We both had to take out student loans to make this happen. Neither of us have used them previously. I expect that the ordinary procedure is that when I graduate next May, I'll have to start paying back my loans. But she'll still have 2 years to go before she's finished, so we'll still only have my income. We're getting by right now, but unless I get a major pay hike we don't have room to add a student loan payment to our monthly expenses. Are there options? Is there some way to defer my payments until she's finished and back to work? Or is the only option to make a job switch, using my shiny new degree to drive my earnings higher? [link] [comments]  |
| Interest rate...after interest is paid off Posted: 02 Jul 2018 03:23 PM PDT Hello, stupid question: Parent Plus loan, have paid off interest over the first 3 years, now owe whole principal amount. Currently set to repay for 10 years. Let's say I now change it to 15 years, does the principal start to accrue interest again at the loan rate? Or what's the deal? Thanks! [link] [comments]  |
| Soooo, Is this legal??? (Navient) Posted: 02 Jul 2018 02:45 PM PDT I have a loan is coming to term apparently. I was paying $65 a month and they took out $1272 out of my checking account. They said that I have to pay the $1272 for the next 5 months so that it will be completely paid off before the term. I believe the loan was jus sold to them. Has anyone dealt with this??? Is this even possible? I found out about it from my bank calling me. I only spent about 5 minutes on the phone with them and told them that since I am out of town for the holiday weekend, I would need to get more info and call them back. I can update with info on my loan when I come home on Thursday. [link] [comments]  |
| Posted: 02 Jul 2018 01:08 PM PDT My daughter will be attending UCLA in the fall. I need advice/tips on the Financial aid process. She is getting the subsidized & unsubsidized loans - which I understand you payoff after she graduates. Is that true for the Parent plus loan as well ? Or do they start immediate monthly payments? Currently the interest for that is 7+ % ! Can you shop around for this loan ? Or do you have to take it only from UCLA ? If you can - what are some established players in this field ? Any and all tips appreciated! [link] [comments]  |
| Posted: 02 Jul 2018 10:29 AM PDT I will be graduating in two years with my Masters degree in Social Work in Houston. It's looking like I will be graduating with 47k loans in debt. I hope, fingers crossed, my entry level salary is at least 50k. Is this too much debt in your opinion? Any advice you would give your younger self about borrowing or paying back loans? [link] [comments]  |
| Income Driven Repayment interest rate Posted: 02 Jul 2018 09:52 AM PDT As far as I can tell, putting your self on an IDR plan (PAYE, REPAYE, IBR). doesn't change your interest rate. So is there any disadvantage to applying for IDR but still making standard payments as if you're on the 10yr plan, but making lower payments if you cannot afford them? I ask because my current payments are a about 2K a month (I owe about 172k total). While I technically can make those payments its putting me at a lot of finical strain and basically have living paycheck to paycheck the last 6 months. I dont think I can do this for 10yrs. [link] [comments]  |
| Is it bad that I am 3 years out of college and only paid half my loans off so far? Posted: 02 Jul 2018 01:15 PM PDT I read a lot of stories of people paying off loans in 3 years etc, and it is discouraging (and encouraging for those people and myself seeing that I can do it) that I have only paid half off thus far. Is this an OK point I am at? Went from $54K to $27K. Just want to see if the path I am going on is alright for now. Thanks [link] [comments]  |
| Posted: 02 Jul 2018 06:00 AM PDT Today, the student debt crisis reached $1,552,338,464,855! Average cost for a 30-second commercial during the Super Bowl was just over five million dollars. Research shows that people freed up from student loan debt will purchase homes, vehicles & vacations - all that are economy boosters. [link] [comments]  |
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