Loans for living expenses Student Loans |
- Loans for living expenses
- PLEASE HELP ME: Perkins went to collections agency, but I am still enrolled in school and now I can't a Direct Plus loan!!!!
- Free* Second Bachelors in 4 years or 30K in two years?
- Going into Community College
- What types of student loans should I go for?
- What to consolidate? What not to consolidate? $100k in student loan debt
- IDR Plan recertification
- Loan Recertification Dilemma- Live overseas, foreign spouse
- IBR repayment plan & equity compensation
- Receipt of a loan pay off?
- Whats happens to planned overdraft after graduation?
- Question about paying off loan in full.
| Posted: 04 Jul 2018 11:45 AM PDT For starters, I am 25, female, married with 2 kids(1 is my stepchild we have 50% of the time). I am going back to school to a community college in Illinois. I applied kinda late so I missed out on the states Map grant, but I got approved for the Federal Pell grant. This is barely enough to cover my tuition, as I am taking 14 credit hours. We will have to pay a bit out of pocket for books. So currently I work at Papa johns as the main day delivery driver(9am-2pm) and my husband works there as the main night driver(5pm-2am) we do this so we don't have to hire a babysitter for the kiddos. It works, it pays the bills, but with my classes being all during the day, I am going to quit working. (I don't make enough money on the weekends to justify the cost of gas/car maintenance). Even if I quit working, my husband makes too much with his VA money for us to qualify for assistance for food. We are in that area where we don't make enough and we struggle, but we make too much for food stamps. The community college I am going to has told me that they don't offer student loans for living expenses because they don't have any on campus housing. I just want to know what my options may be. I am guessing they are talking about the federal student loans? Could I get a privet student loan to help with bills and living expenses? [link] [comments]  |
| Posted: 04 Jul 2018 07:07 PM PDT Guys I have perkins from undergrad, I went straight to med school after and apparently I did not go into deferrment because I have been enrolled in school always AND now it was apparenly sent to collections but I had no idea until I recieved the denial on my credit check for my med school plus loan for year 2! PLEASE HELP ME, I have no other options to pay for school and I'm freaking out [link] [comments]  |
| Free* Second Bachelors in 4 years or 30K in two years? Posted: 04 Jul 2018 07:22 AM PDT I am looking to get a second bachelors degree on a part time basis and was just offered employment with the state. With this state job I am currently eligible for: - Free part time tuition indefinitely at any state college/university - I am already three years into PSLF and will remain eligible throughout *either* program. My question is that of opportunity cost* of additional years in school. Imputing the median starting salary for my area for the second bachelors degree (65k and computer science) it appears that I may come out ahead monetarily if I finance the second bachelors with federal loans and enter the workforce quicker. - Free degree- graduate in Spring 2022 and by end of calendar year 2023 I can expect to earn $108,300 total profit post degree . - 30k financed degree- graduate in Summer 2020 and by end of calendar year 2023 I can expect to earn $167,536 total profit (minus cost of program) post degree . I am getting stuck on the fact that the free degree will be free which is an amazing benefit. There is definitely extreme value in not taking on debt at all. However, even if I graduate and never find employment in my new field I can remain in my state job and already be over half-way done with PSLF. Does anyone see any glaring problems with my analysis? What would you do in my situation? [link] [comments]  |
| Posted: 04 Jul 2018 03:11 PM PDT Hey guys, I just got a loan for my first semester in Community College, and to be honest, I just signed up for it to get myself in before the deadline. Now that I'm actually in, I'm choosing to learn about the loans, repayment, and finding the best course of action to pay. I went to my college's financial aid office and they persuaded me to get myself into Federal Direct Loans. I believe that since my parents are in an okay financial situation, I could only apply for an Unsubsidized loan. This is fine, and what I'm paying is chump change compared to other people my age going to college, but I still want to start off on the right foot. So my questions are:
If anyone could offer any assistance, I would greatly appreciate it. I looked through the sidebar on here and /pf and didn't see anything that I think helps, but I apologize if I'm asking a question that's already been asked a ton! [link] [comments]  |
| What types of student loans should I go for? Posted: 04 Jul 2018 02:41 PM PDT Hey guys. I am currently about to enter my freshman undergraduate year in a US university. I am in state and will be living on campus. My university has given me and estimated remaining cost of about $13,000. I am a first generation college student so I am very clueless about how student loans go (they should really teach this school). Basically I am just looking to pay off loans after I graduate and also my parents are looking to pay some while I am in school. Are the loans that you yourself pay after graduation called federal subsidized and unsubsidized loans? On studentloans.gov it also states that the loans that a student's parents takes are called Federal PLUS loans, so do you guys/girls think that these are the best loans for me and my parents to take out? Thanks for the help. [link] [comments]  |
| What to consolidate? What not to consolidate? $100k in student loan debt Posted: 04 Jul 2018 10:25 AM PDT Hello! I am a recent May 2018 grad living the American dream as I am now $100k+ in debt while making $42k. As I am bound to consolidate next month my question is what should be consolidated, and what should not? Many of my loans (75k+) are with private lenders while the remaining is with federal. Although I am working in healthcare at a nonprofit, waiting for loan forgiveness (and its questionable continuation with changing administrations) has me wondering if I should hold out and not consolidate these loans to apply for forgiveness OR should I consolidate them for easy repayment and lower interest rates. The ideal situation would be to have all loans paid off in 7 years and waiting 3 extra just to save a small amount after making 120 payments doesn't seem worth it to me. Has anyone been in a similar situation or have any advice? As a first generation college student and going to a school where many people's parents pay for their education, I am feeling quite overwhelmed and lack guidance from everywhere. Also if anyone has threads on Reddit regarding what federal loans are forgiven and for what type of work or any other threads you find beneficial, please share! Thank you! [link] [comments]  |
| Posted: 04 Jul 2018 08:27 AM PDT So today is 7/4. I received a letter in my account from myfedloan, on 4/24, saying "In about 2 months, we'll send you information with a direct link to recertify online." I received this link on 6/18. The April letter says you have "10 days from 6/27" to recertify OR ELSE etc. etc. This should put my final deadline on 7/7. I just completed this recertification through studentloans.gov, but when I log into myfedloan it already says I have missed my IDR plan recert window! What gives? I am going to call them when they open tomorrow, but I was just wondering if anyone else has encountered this issue? Very, very frustrating that they give you such a short timeframe to recertify. [link] [comments]  |
| Loan Recertification Dilemma- Live overseas, foreign spouse Posted: 04 Jul 2018 05:32 AM PDT I just got married in the UK and now reside in the UK with my English husband. The time has come for me to re-certify my federal student loans on an IDR plan and I am really stumped. Because my income has changed since my last tax return (filed as single as I was not married during the previous working year), I need to fill out the "alternative document" form. This requires me to enter my spouse's SSN and tax return info etc but he obviously doesn't have either. Right now I am not working and I live in the UK, and he is a non-resident alien for US tax purposes. What information do I need to provide the loan servicer? A cover letter explaining the situation? If I need to show proof of his income, what form should that take? [link] [comments]  |
| IBR repayment plan & equity compensation Posted: 04 Jul 2018 01:39 PM PDT This is a specific question, and I don't reasonably expect anyone to provide me the answer for free. I'm mainly looking for a referral to a resource or service that can help me answer it. However, if some kind soul is willing to provide a correct answer, I'm happy to pay you for the time / effort. I'm one-year out of law school. I've made 9 full payments w/o refinancing and my current balance is 190k. this amounts to roughly $2,300 a month. I currently make between 90 - 100k salary. My salary increased ~ 30k during my first year, and I anticipate that it will increase another 30k within the next 18 months. I'm also expecting to receive & a stock bonus around 25k in the near future + additional options next year. I'm working for a unicorn that will likely go public in the next 1 to 2 years. The IPO will increase the stock price by 5x to 10x. B/c of my current loan payments & living expenses, I'm currently living pay check to pay check. after taxes, my loans and rent leave very little disposable income. i'm living with roommates in an expensive city, don't own a car, and spend very little money outside of rent + loans. I'm working 80 - 100 hour weeks consistently so a second job isn't an option. I'm a first generation college graduate (let alone grad school) in my family & do not receive support from my family. I love my job & the long-term benefits of the network i'm building is worth more to me than any increase in salary during the next 5-years. I used my loan service provider's IBR calculator and my current payments would be reduced to $500. this would make my life so much easier. However, I'm worried about the implications of equity compensation. I know there's a way that I can elect to get taxed on this compensation immediately & likely greatly reduce my future tax liability when i get the windfall from the IPO...this is likely my best option. However, I'm worried about the potential consequences of the IBR plan in the event of a windfall (let's say best case of 25k x 10x valuation = 250k). Also, since the payment term is extended to 20 (25 years?), I'm worried about the future consequences if I land a high paying role in 10 - 15 years (let's say 250k to 500k a year). Assuming my current situation is as bad as it will get for me and that I won't get another raise until Jan. 2019, should I continue to tough-it-out & just refinance? or does the IBR make sense? I really need to reduce my current payment by $500 a month (from $2300) to continue floating by. As a final note, I never came from money & am not motivated by wealth or money. there's no one in my life who understand finances that i feel comfortable talking to about this. i am terribly embarrassed by the amount of debt i've accumulated. I buried my head in the sand during law school & paid the price with interest. I worked my ass to score in the 99th percentile on the LSAT, received a 90k scholarship, and was accepted to some of the top schools in the U.S. I knew that loans would be an issue, but I decided to take a leap of faith & worry about it later. this was my dream & didn't want to have to live asking myself "what if" the rest of my life. I've done everything I've can the past decade to succeed at achieving my goals. I'm good at what I do, and I believe that what i'm doing will have a positive impact on the world. . . it didn't seem right to not follow my heart b/c of money. I'm still glad I made that decision, but as I get older and live with the consequences, the cost of my decision is weighting heavy on my conscious & impacting my wellbeing. . . it's tough to work with billionaires when I literally can't afford to buy a pair of shoes w/o holes in the soles or a proper suit. . . it's tough to watch my friends get married and start families knowing that I cannot support myself, let alone a family. . . it's hard to be at work 12+ hours a day, 7 days a wk and still worry about being able to pay the next month's rent. I feel so trapped & don't know where to begin. So, I sincerely thank anyone willing to offer advice or pass along information. [link] [comments]  |
| Posted: 04 Jul 2018 11:18 AM PDT Hey all, Today I paid off my first $10k student loan from Heartland ECSI. I paid off the loan before my initial 6 month grace period ended. Although their website is reporting the loan as paid off in full, I'm keen on getting a receipt certifying the loan's $0 balance in writing. Is that necessary? I've heard horror stories about supposedly paid off loans accruing interest unbeknownst to the recipient and want to avoid any 'misunderstanding' at all costs. Thanks [link] [comments]  |
| Whats happens to planned overdraft after graduation? Posted: 04 Jul 2018 03:09 AM PDT I am with tsb and when i was a university student i applied and received planned overdraft limiy of up to 1500. Now that i have finished my uni, whats happens to the overdraft limit? [link] [comments]  |
| Question about paying off loan in full. Posted: 04 Jul 2018 10:34 AM PDT Ok, so as the title states, my wife and I have saved up $11k to pay off our student loan that is held through mygreatlakes. We are curious as to what would be the best way to pay it off without getting screwed over. We can make 500$ payments through the bank over several days. We can lump sum it through the website but we don't know if our bank will just say "hey man, this is weird, no" I think we can send them a certified over night check. We are just reaaaaly suspicious of debt collectors and know how they work so we just want to be safe and not get screwed out of the 11k we saved up for 2 years while still paying our monthly payments for. Just worried is all... [link] [comments]  |
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