I'm convinced that I will be homeless in 3 years. Student Loans |
- I'm convinced that I will be homeless in 3 years.
- A world without student debt
- Is there a way you can freeze repayment of your undergrad loans when you’re in grad school?
- A few questions about dependency overrides (applying for college)?
- No due date for my loan?
- Approved for a 3.25% interest rate with SoFi. Want to sign the offer but want to know if it's worth shopping around for a lower rate
- A Useful Book About Graduating Early To Avoid Student Loans in the First Place
- Need Help with Excessive Payment Allocation.
- Refinancing multiple student loans?
- Parent's aren't helping, need advice! CC transfer student to Cal State University
- Graduated This Month but Loan Provider Says I'm In School Until 2020?
- Am on I track for PSLF?
- Question about grad student loans - if I kill the outstanding interest, then are my payments all principal?
- Should I take out my loans at one time? Do Plus/Alt loans accrue interest while in school?
| I'm convinced that I will be homeless in 3 years. Posted: 01 Jul 2018 07:17 PM PDT Hi all. I am a recent college grad with a Useless major. I got screwed over when going to college- my mom makes bank, but she never saved any of her income or any of my dad's social security that we got when he died to send me to school. Therefore, she could only offer to co-sign my loans if needed. Back then, I was young and stupid. I was convinced I'd be a physics major and become an astrophysicist (I have always hated math). I wanted to go to my dream school, which is the most expensive public school in the country. Despite licking 15 minutes away, I wanted to live on campus. So I did. I turned down full rides to other schools to now be here, recently graduated and $80k in student loan debt. I'm desperately searching for a job and finding nothing. Even jobs that are entry level require 4 years of experience that I don't have. To make ends meet, I'm going to have to go back to school. So this fall I'm starting an ASL interpreting program, which after two years will put my debt, without interest, up to $90k. The plan is to hopefully get a job and stay there whole I complete my ITP since it's a night program. Once I'm done i can keep working and take interpreting assignments as extra income until I become nationally certified and can make it a full time career. I just feel like I'm fucked. I'm just so fucked. My salary prospects are really low. I have a bad situation with my mother so moving in with parents isn't an option. My fiance and I are getting married just before I would graduate this interpreter program, and we won't have that all paid off. Once I do finish these two years I'll be staring down the barrel of 90k in debt, my fiance's credit card debt, our wedding debt, debt for a car I'll probably have to buy because for some reason busses here don't even go to the local community college, and others. My fiance is a custodian and pulls in around 50-60k a year but I just feel like once all these payments hit us were going to be lost. How do you guys try to deal with debt? Does anyone have as much as me? How do you deal with the crippling dread? [link] [comments]  |
| Posted: 01 Jul 2018 07:41 AM PDT Imagine waking up tomorrow to a world where students no longer had to worry about how to pay for college. The decision to pursue a degree at a university is no longer driven by whether or not they're willing to pile up a mountain of debt and put their lives on hold. If they decide that they need a degree to achieve their goals, then they can pursue it. The cost has already been taken care of, no matter their socioeconomic status. Now, imagine that the funding for their education is NOT provided by the government. The solution doesn't require that american tax payers make a legally mandated sacrifice from their paychecks. Instead, a group of idealistic entrepreneurs have organized a set of businesses that generate enough profit to change how we pay for education. In order to achieve this lofty goal, I plan to found a holding company that will draw revenue from its holdings and pour that revenue into loan repayment grants, scholarships, educational resources for borrowers, and a number of other strategic initiatives to eliminate the need for student borrowing altogether. Come tell us your student debt story. [link] [comments]  |
| Is there a way you can freeze repayment of your undergrad loans when you’re in grad school? Posted: 01 Jul 2018 05:13 PM PDT Hi I'll likely enter university my second semester of freshman year after transferring from CC. Unfortunately my parents cannot help me at all and I'm stuck having to deal with loans myself. They said they'll pay for my semesters at CC but not for university. I'm a CS/math major and I'm expected to graduate in 3 years because I have the credits but I also want to go to grad school because my dream is to be a mathematician. Is there any way I can freeze repayment of undergrad loans (which will probably be around 75k) while I'm in a funded PhD program? All responses are appreciated, thank you! [link] [comments]  |
| A few questions about dependency overrides (applying for college)? Posted: 01 Jul 2018 06:18 PM PDT Hey all, I just recently became aware that a dependency override may be an option for me. I'm getting ready to apply for colleges and my parents are unwilling/unable to pay. Unfortunately I fall into the category of students whose parents could pay if they chose to prioritize that over buying groceries, but it's not practical so they are not going to. Our special circumstances include the fact that my parents are both in their late 40s trying to buy their own house for the first time while raising two other children, and the company my dad has worked for is closing that branch so the company is terminating contracts with all 800 employees (within 12-18 months). So he is losing his job, but not in time for him to be "unemployed" on the FAFSA when I need to submit it. That sounds horrible when I put it like that but I hope everyone understands what I mean, lmao. Therefore, my parents are unwilling to pay for my college education and I can either pay for it all out of pocket (although I'd have to work 70 hours a week to pay for all my expenses as I go), take out a bunch of loans and graduate 50k in debt, or just forfeit going to college and my dream job :( I know their unwillingness to pay alone is not enough to qualify, but maybe the fact that my dad is losing his job or that they are buying a home? Anyone have any experience with this kind of thing? Your thoughts would be appreciated :) [link] [comments]  |
| Posted: 01 Jul 2018 08:13 PM PDT Hi guys, I have a loan through Fedloan servicing. My grace period ended last month and it doesn't show a due date for my first payment. When will I get a due date? Should I just make a payment ASAP? [link] [comments]  |
| Posted: 01 Jul 2018 03:21 PM PDT Like the title says, just got the offer today from SoFi for 3.25% fixed (auto-pay discount included). I know I can shop around with different lenders for 30 days and it wouldn't effect my credit score, but is it worth it? Do you guys think it would be possible to get a lower rate? I'm aware you guys don't know my financials so you couldn't tell me for sure, but I just wanted to get an idea if there was anybody here that thinks it may be worth looking at another lender. Thanks! Edit: I'm assuming that the differences between lenders is only the interest rate that they offer. Would different lenders have other advantages besides interest rate? [link] [comments]  |
| A Useful Book About Graduating Early To Avoid Student Loans in the First Place Posted: 01 Jul 2018 06:12 PM PDT I realize it's too late for a great many of us, but I found a book online specifically designed to graduate college two years early thus theoretically cutting the college bill in half: https://www.amazon.com/Save-Money-Graduating-College-Years/dp/1520240643/ref=asap_bc?ie=UTF8 [link] [comments]  |
| Need Help with Excessive Payment Allocation. Posted: 01 Jul 2018 11:27 AM PDT I have 5 loans managed with Great Lakes. 4 of the 5 have the same interest rate 3.15% and the 5th is at 4.25%. I currently owe $2,058.49 on the loan with $4.25 interest rate. I am paying 174.36 (148.36 is my payment with $26 as excess). I have the excess on standard allocation. I'm thinking of changing to a custom allocation with 100% going to the 5th loan with the higher interest rate. I'm also thinking of increasing my payment to $200. Is this a good idea? Here are all my loans: Loan 1: $2,058.49 Interest: 4.250% fixed Loan 2: $1,180.47 Interest: 3.150% fixed Loan 3: $1,475.63 Interest: 3.150% fixed Loan 4: $2,401.49 Interest: 3.150% fixed Loan 5: $900.56 Interest: 3.150% fixed [link] [comments]  |
| Refinancing multiple student loans? Posted: 01 Jul 2018 02:31 PM PDT I have a substantial amount of private student loan debt from undergrad. Basically, I was naive and made a terrible financial decision at 18; neither of my parents graduated from college (so, no experience with funding college) and we didn't fully comprehend the debt. Ultimately it was my signature and my education, and I'm trying to be smarter moving forward. I'm looking into refinancing my private student loans. My income to debt ratio is low — all together, I have about $118k in private debt and make $52k a year. My credit score is about 760. I also have about $35k in federal loans with fixed APR ranging from 3.4-5.6%, however my job qualifies me for PSLF so I'm planning to leave those alone (hoping IBR and PSLF programs don't disappear). I have about $3k in credit card debt that I will be able to pay off in full in the next two months, before my student loan payments are due. I have numerous private individual loans with interest rates ranging from about 6-6.75% up to almost 10% on the largest ones, which are approximately $30k each. I'm looking to get some general advice and feedback on my options.
Thanks [link] [comments]  |
| Parent's aren't helping, need advice! CC transfer student to Cal State University Posted: 01 Jul 2018 01:43 PM PDT I'm in the process of figuring out student loans because FASFA indicates that even though I file my own taxes, (I do not make a lot of money. I have a part-time apprentice job at my old CC as a peer educator/mentor who leads study sessions), and I'm still considered a dependent (I am 22). My parents make $88k/yr and they aren't supportive of me going to a university in general. (Which was something I wasn't expecting and completely crushing for me.) I got my associates last semester (spring 2018) with honors (3.7 GPA), and I'm seeking a bachelors in a non-stem field. I've been applying for scholarships but nothing is coming along. The university's scholarships ended before they accepted me into their institution. My local Cal State University indicates that they're only giving me ~$7,000/ year for federal subsidized and unsubsidized loans. I still need $2-3,000 probably per year because from my understanding but it doesn't cover everything (books, fees, etc). I have a transfer orientation at a local Cal State in about twelve days. My parents are very against co-signing, and I don't have credit. I have accidentally applied for a Cal State Grant in the past, for my CC but realized that BOGW covered the majority of everything. I submitted my change of school in hopes of at least having some help, but I fear it won't get to the school in time for when I register within the next 2 weeks. I think my payments are due next month? Any help or advice would be appreciated. I'm freaking out and quite honestly terrified. Edit: In regards to the Cal Grant, I think I've only been awarded for the CC Grant as they thought I was attending one more year. (This was the year I requested an additional one and had to fill out a form for it.) I'm anticipating either 1. I won't get anything or 2. hopefully something but not the amount I fully need. [link] [comments]  |
| Graduated This Month but Loan Provider Says I'm In School Until 2020? Posted: 01 Jul 2018 12:36 PM PDT I'm quite confused as to what my situation is. For some reason, my loan provider believes I have not graduated yet, even though I have and this concerns me. My loans are federally subsidized and I am not supposed to make a payment until 6 months after graduation, which would make this December the month in which I must start. However, my account says my first scheduled payment isn't until February 2021, because they have on record that I'll be in school until June 2020. How would the loan provider know when I've graduated? Do their records automatically update soon after graduation? I feel like maybe I should call them, but at the same time it would be pretty sweet to have these payments deferred by essentially another 3 years and I wouldn't want to shoot myself i the foot her by calling them. Is this something that's normal? What would you guys do? [link] [comments]  |
| Posted: 01 Jul 2018 10:59 AM PDT All my loans are with Nelnet right now. They are labeled either DIRECT SUB, DIRECT UNSUB, or DIRECT CONSOL. I'm on an IBR plan. I've been employed full time with a 501(c)(3) for a few years now. My employment is seasonal, around 40 weeks per year (which is above the 8 out of 12 month threshold). The reason I ask is because I wasn't even thinking of PSLF until I discovered that seasonal employment rule. I was originally planning to pay my loans off, but after a few years of FT employment, I still haven't made any headway on my federal loans and I have about $15k uncapitalized interest. [link] [comments]  |
| Posted: 01 Jul 2018 10:18 AM PDT I have a couple of options right now and a substantial amount of grad school debt comprised of 6 loans totaling approx 210K including 20K or so in interest. The way I understand it, all of my monthly payments once deferment is over will get evenly distributed towards the interest first, and then the loan balances. My initial plan was to pay about 1K per month over deferment/grace to halt the interest increase, and kill one of the six loans with a pay off right before grace ends and my interest capitalizes. However, is it possible to dump 20K into the interest, pay the interest accrual rate monthly, and just have my monthly payments hit the principal? [link] [comments]  |
| Should I take out my loans at one time? Do Plus/Alt loans accrue interest while in school? Posted: 01 Jul 2018 09:25 AM PDT I'm sorry if these questions are dumb, I am going to graduate school and I've never had to use student loans before. The total is ~90k, which should get me through my entire time at graduate school. Do I just go ahead and take them all out? Or do I reapply for loans each year? I'd appreciate the advice! Thanks, y'all. [link] [comments]  |
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