• Breaking News

    Sunday, July 8, 2018

    Home Unlabelled Taking out a daunting amount of student loans (100k) for my masters. Student Loans

    Taking out a daunting amount of student loans (100k) for my masters. Student Loans

    July 08, 2018

    Taking out a daunting amount of student loans (100k) for my masters. Student Loans

    Taking out a daunting amount of student loans (100k) for my masters.

    Posted: 07 Jul 2018 07:19 PM PDT

    No prior debt from undergrad so this amount seems like a lot for me. Unfortunately, tuition is 95k and I'm taking out some extra to cover living and such. I already have a decent amount of savings that I'm also using to cover my living expenses for two years of the program.

    I'm looking into getting a very part time job (one shift maybe every two weeks) to help cover the interest every month. I think I can cover the interest for at least 6 months into the program, but by the second year there's no way I can cover $600-900 in interest that's accruing every month.

    How does everyone deal with having such a staggering amount of loans? I'm trying to be proactive about it while I'm in school. I'll be taking out stafford and gradplus loans with huge interest rates.

    submitted by /u/heels888a
    [link] [comments]

    When the anchor goes away...

    Posted: 07 Jul 2018 08:40 PM PDT

    I just found this subreddit and I'm glad to see I'm not the only one trying everything they can to make their loans go away. What is your plan to celebrate when that final payment is made after years of struggle and stress?

    submitted by /u/Xlerb08
    [link] [comments]

    Is a private school worth going into debt for?

    Posted: 07 Jul 2018 08:19 AM PDT

    Hello! So, I was accepted to a private University several months ago. I just wanted to know if it was worth the debt.

    This year, I had to take $5,500 out of Federal loans, and $12,000 out of parent PLUS loans at an interest rate of 7%. This would be a yearly occurrence. Now, I am taking computer science as my major. I am definitely staying my first year, but I just wanted to know if I should maybe go to a more affordable public University next year? I do have secured jobs lined up that allow $12-$14 an hour at around 25-35 hours a week, plus a $16 an hour job on the weekends if my manager wants me to attend if I have the option. I just wanted to know if it is feasible to save up and budget, as well as look for scholarships and grants (my school service is helping me because they have a first generation student support services.) I just wanted to know if it would be logical to save up and apply like crazy for scholarships, or if I should step out next year to another school.

    I am being offered a steady internship if I stay the second year in software engineering. This is what I'm also debating.

    submitted by /u/FalloutSeeker
    [link] [comments]

    What’s going on with my FedLoan account?!

    Posted: 07 Jul 2018 08:20 AM PDT

    I got the monthly email from FedLoan that my direct debit payment would be taken out soon, except the amount has more than tripled. My income hasn't changed drastically, I don't understand why it's gone up from $483 to $1634. I can't call until Monday but I'm freaking out- does anyone have any idea why this might happen? I'm praying it's a mistake because I can't afford that.

    submitted by /u/iwannabanana
    [link] [comments]

    I have about 12.5k in students loans on a ICR payment plan. I also noticed about 900 in accrued interest. Will I have to pay this interest if I change my payment plan?

    Posted: 07 Jul 2018 07:13 AM PDT

    Refinance & Amortization Timeline

    Posted: 07 Jul 2018 06:00 AM PDT

    Is there any calculator or rule of thumb for when you are far enough into an amortization schedule that refinancing does not make sense? I'm 15 years into paying a federally consolidated loan at 7.5% and can't figure out if refinancing would save me anything that far into the amortization.

    submitted by /u/attorneyshea
    [link] [comments]

    Income Driven Payments

    Posted: 07 Jul 2018 08:12 AM PDT

    Hi there, I'm just about to begin payments on my $34K in loans but I barely make ends meet as it is. I'm currently applying for income driven payments as it is the only way I'll be capable of even start this journey.... My question is what can I do in the future to prevent the IRS taxable 'income' when the rest of my debt is forgiven?

    submitted by /u/ellafitz_
    [link] [comments]
    Read more
    at

    No comments:

    Post a Comment