I paid off 190K in 5 years! Student Loans |
- I paid off 190K in 5 years!
- What Do I Do?
- At a complete lost and the financial aid office isn't any help
- (ex)-students, get over $50 in free crypto tokens! Thank me later when you can use it to pay off your student debt ��������
- What happened to my TAP Grant and Tuition Credit??
- Student loans paid off within ~1.35 years after graduation
- How does federal loan disbursement work if I’m only attending for one semester out of the academic year?
- Will my federal aid and scholarships transfer between campuses of the same school?
- Defaulted Student Loan Payoff Options
- How do I defer my patent plus loan?
- Everyone talks about student loan forgiveness being a “tax bomb,” but...
- Refinancing loans
- Refinance while still in law school?
- Will cosigning on someone else's student loan make it harder for me to get approved for my grad school student loan?
- Loan in Forbearance was sent to collection agency. No idea why and it is now impacting ability to apply for financial aid.
- Bad Credit, No Co-Signer, Graduate PLUS Loans Needed
- I completed FFEL, do I have to disclose default on financial forms?
- Financial aid keeps changing
- Why am I in deferment??
- Questions about Pell Grant
- Need $700
| Posted: 09 Aug 2018 09:40 AM PDT After seeing my interest rate ballooned to 16% (Discover) and refinancing twice, I paid off everything and am completely debt-free now! I am really excited, I had to share it. Edit: Thank you for all your kind words, this is super exciting! Some have asked for more details, so including my response from below. Thanks again!
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| Posted: 10 Aug 2018 12:42 AM PDT I owe apx. 104k, make about 70k/year, and have been making PSLF payments since about 2012 to Fedloan Servicing (I can't stand them). My monthly payments are currently about $400. Today I noticed that the amount of qualifying payments I've made seemed to be short, so I called Fedloan Servicing. The first girl I talked to told me my former university sent them a notification stating I was in school from Nov, 2012 - Aug, 2014 when I was not in school during this time. I was working full time for the government. She told me to call my school's registrar's office and have them update the "national registry," or have the registrar fill out a form that Fedloan Servicing was going to mail me to prove I was not in school during this time. She indicated that she was sure if I provided the proof I needed that I was not in school during this time the payments I made during this time period would be counted as qualifying payments. I checked my e-mail later, and it looked like Fedloan Servicing sent me the wrong form so I called them again. This time when I spoke to a different girl, she told me she could see that I was not in school from Nov 2012 - Aug 2014, and that my former university sent in a "late school forbearance." She told me that this put my loans into a reduced payment forbearance (62.50 instead of 156.00/month). She said because of the forbearance, my payments during this time period did not qualify for PSLF. I never applied for this forbearance, was told about it, or knew about it, and I did what they asked; which was to make on time payments at the amount they told me during this time. After telling the girl about the reason why I was calling, she said she was going to try to get the 21 months I was denied counted as qualifying payments and put me on hold. When she came back, she said if they removed the forbearance from 2012-2014, that my payments would be short (62.50 vs. 156.00) for that time period and my account would immediately go into default. After she told me there was "nothing they could do," I explained again how I did nothing wrong, was never informed of the situation, would cost me 8 - 10k in payments, and I'd lose 21 months of credit in qualifying payments, that it was their mistake and they needed to fix it, she talked to her supervisor again. When she came back, she told me she was wrong about how removing the forbearance would place my account into default (her reason was unclear and I do not trust them) , and was going to have my payments during this time reviewed by performing a "payment tracker" to see if they would count as qualifying payments. She told me this is all I can do for now and the process can take up to 120 days. I really hope that the 21 months of payments will be approved as qualifying payments, but I definitely do not trust Fedloan Servicing. EVERY SINGLE TIME I talk to a representative, each one tells me something different and inconsistent with what I was previously told. They have no accountability for what they tell people, and I don't know how they get away with it. It really bothers me how they can mess up and show 0 empathy or accountability, when their actions can really affect others' lives. It feels like we're at the mercy of their incompetence and there's not much, or nothing, we can do. What should I do? Wait and see if the 21 months are approved? Hire an attorney? I really don't want to lose credit for almost two years of qualifying payments. Thanks in advance. [link] [comments]  |
| At a complete lost and the financial aid office isn't any help Posted: 09 Aug 2018 11:35 PM PDT I was all excited to start at this new school I just transfer into after my community college but the expense and tuition is bringing my spirit really low. I need to borrow about 18k more to completely cover the cost of me attending school this year but I have no idea where to borrow the money from. Fafsa gave me 6k in grants and 6.5k in direct loans already. I don't know if I want to do the parent plus loans or go to a private lender like PNC or Discover. Can anyone offer any advice? Also I am working a minimum wage job at the moment and I'm putting 60% of each paycheck into savings recently in order to pay off some interest while in school. [link] [comments]  |
| Posted: 10 Aug 2018 02:10 AM PDT |
| What happened to my TAP Grant and Tuition Credit?? Posted: 09 Aug 2018 06:51 PM PDT Oncoming freshman in NY in a SUNY about to start college in two weeks. Looking to pay my bill today when I noticed that I had lost my TAP grant which was $1,615 and my SUNY Tuition Credit which was $530. Because of this my bill has shot up $2,145. I haven't done anything or taken any classes yet, but I have registered for classes and everything when I was at the school a month ago. Also, I haven't paid the bill yet before when it was assigned in late July because my mom and I are waiting to get a credit card just for tuition. Any advice would be appreciated. [link] [comments]  |
| Student loans paid off within ~1.35 years after graduation Posted: 10 Aug 2018 12:00 AM PDT Just submitted my last payment.. I had 18,000 USD worth of student loans through Navient that was given to me in order for me to obtain my bachelors degree in Biology. I also was given 29.5k worth of grants. I went to a community college and transferred to a 4 year university. Anyways as a biology graduate you don't make much but the degree is very versatile. My first job was 24k post tax and I worked there for about 10 months. I then found a new job that pays 35.5k post tax for 2 months with a shit ton of OT. Here are ROUGH expenses, not accurate but close. 20 dollars a week into gas x ~67 = 1340 I barely spent anything towards myself, it was rough. I bought clothing here and there on the clearance section but I also lost 50 pounds ( Also signed up for a gym), so I have to give those away now. I had tons of overtime opportunity at my new job which I took advantage of but I am super burn't out now, at least I can enjoy myself? One last thing, I used the snowball method. Since all my loans are federal, you get the tax you paid on your loans back at the end of the year, so it doesn't really matter what method you used (assuming all loans are federal though). [link] [comments]  |
| Posted: 09 Aug 2018 10:22 PM PDT I'm taking this fall semester off, but I want to return for the spring semester. I've accepted all of my federal loans which is more than enough to cover tuition for the spring and then some, but how will disbursement work since I'm not enrolled for the fall? Will the amount be changed? [link] [comments]  |
| Will my federal aid and scholarships transfer between campuses of the same school? Posted: 09 Aug 2018 09:07 PM PDT I go to IU Bloomington, but this semester I'm going to stay home in Indianapolis, IN and take classes at IUPUI for a semester to save money and then return to IU. However, I'm not sure how I'm going to pay for my IUPUI classes. I did some research and my federal loans will not transfer between two different schools, and I was told I might not be eligible to receive aid at IUPUI because I'm just a visiting student. I'm wondering if maybe my federal loans will transfer to IUPUI because it's an IU institution, just a different campus. Is this the case? What are my options if they don't? I can't take out private loans because I don't have a creditworthy co-signer (I've tried). [link] [comments]  |
| Defaulted Student Loan Payoff Options Posted: 09 Aug 2018 08:15 PM PDT Hi Everyone, My wife defaulted on a student loan prior to us getting married. Last year I didn't file joint so they wouldn't garnish it from my return but I may have the ability to pay it off in one lump sum with a little help from my parents. We got something in the mail from the education department recently saying $13.6k is owed, $9.5 was principal. I had my wife call to confirm that would be the payoff amount if we paid all at once and she was transferred to the collection agency who told us it is $17k. I assume this is the fees they talk about when you default but my question is could she rehabilitate the loan still and if she did would it become the $13.6k so I could pay it off and cut out the collection agency fees? Thank you in advance for your advise. [link] [comments]  |
| How do I defer my patent plus loan? Posted: 09 Aug 2018 07:55 PM PDT The first disbursement is happening on the 18th and I want to defer the loan as soon as possible. I can't seem to find any instructions online. [link] [comments]  |
| Everyone talks about student loan forgiveness being a “tax bomb,” but... Posted: 09 Aug 2018 06:07 PM PDT According to this, it looks like federal loan cancellation will not result in additional taxable income in the year they loans are forgiven (p4). I'm interested to see other people's takes on this. [link] [comments]  |
| Posted: 09 Aug 2018 01:14 PM PDT I'm trying to refinance a private Sallie Mae student loan without having my parents co sign. Which lender is best to go to? I've tried Earnest and Splash Financial so far and both did not work out. [link] [comments]  |
| Refinance while still in law school? Posted: 09 Aug 2018 04:05 PM PDT I still have one year of school left - does it make sense to refinance private loans with someone like Sofi now to lower interest rates even though I won't be earning income for the next 12 months? I made enough money this summer to make reasonable monthly payments on the refinanced loan so that wouldn't be an issue. Disclaimer: My ultimate goal is to refinance both federal and private loans into one big loan with First Republic who has insanely low interest rates - so if refinancing now would preclude me from doing that, I'll just wait and deal with the insane interest rates of my private loans. [link] [comments]  |
| Posted: 09 Aug 2018 02:40 PM PDT A younger family member needs me to cosign on their Freshman year tuition. I plan on going to law school next year, and expect to have to take out a hefty student loan for myself for this. I do have a sure partner who would cosign for my student loan when the day arrives. My question is, would being cosigned to my family member's student loan affect my ability to get a student loan for grad school in the near future? [link] [comments]  |
| Posted: 09 Aug 2018 10:44 AM PDT Hello, My girlfriend was trying to sort out applying for financial aid for the upcoming semester, but was told nothing can be done while her loans are in collections. The thing is, she has no idea why the loans were sent to collections, since the loans were placed into forbearance until next year. She has attempted to contact the loan servicer (Navient) and the Department of Education, but each party just attempts to send her to the other. She recently filed for bankruptcy, but I was under the impression this does not affect student loans... If anyone could please provide some information of why this could be happening and any course of action she can take to resolve this issue? Thanks! [link] [comments]  |
| Bad Credit, No Co-Signer, Graduate PLUS Loans Needed Posted: 09 Aug 2018 01:54 PM PDT Hello, I was accepted to Law School with merit based scholarship. With the scholarship and the Stafford Loan my tuition is covered. However, my parents will not co-sign my graduate PLUS loan because they want to buy a new house; I also have bad credit. I feel like I am in a pickle and wont be able to attend law school because of this debacle. Need the PLUS loan to cover my living expenses of 28K a year, Any advice? [link] [comments]  |
| I completed FFEL, do I have to disclose default on financial forms? Posted: 09 Aug 2018 06:09 AM PDT I defaulted on my student loans in 2010. I've completed the FFEL loan program and have been current on all payments to Nelnet. So, I am trying to buy a salon for $70,000. I feel like I'm completely out of my depth, but that's another story. Anyways, I have to fill out an SBA 7(a) Borrower Information Form. Question 8. Has the SBA Applicant and/or it's Affiliates ever obtained a direct or guaranteed loan from SBA or any other federal agency or been a guarantor on such a loan? The answer is yes, I had Stafford Loans that I defaulted on in 2010. a) If you answered "Yes" to Question 8, is any of the financing currently delinquent? No b) If you answered "Yes" to Question 8, did any of this financing ever default and cause a loss to the Government? It's section b) that I'm having a hard time answering. Does completing the FFEL program take your loans out of default even when your disclosing financial information to a bank? Technically, yes I have defaulted, but I did the loan forgiveness program that takes the loan out of default. So, that part of the question is yes. But I've paid back the loan plus interest so it did not cause a loss to the government. So, the second part is a no. What do I say? Yes to the question and then explain the circumstance if allowed? ::rant warning:: I feel like I'm over complicating this, but I don't want to lose my chances of making my dream come true. I've been a hair stylist for over ten years. I have busted my ass to save money, to get myself out of debt and to bring this wish to fruition. All while my brother committed suicide four years ago, then my sister fell down the stairs and died three years ago and my mom died last year from a heart attack probably caused by the death of a child. The financial dent all of this made while suffering like no human being ever should. That's one thing no one ever tells you about losing family it is expensive. Very few people have life insurance or money to take care of the expense of dying and you're so overwhelmed with grief you don't have the energy to research or price check funeral homes, caskets, tombstones etc. It's a sad world when people take advantage of death's numbness. Anyway, the point is I somehow kept my head and finances above water, but still my bank account went from $40,000 to $12,000. I've had to take the SBA route rather than a traditional bank loan. I understand how impossible it is for people to get themselves out of debt. Sorry for the venting session... i did not mean to take it here, it all just feels like background info to the situation. How badly I need to fulfill this and live a life that would make me and my family proud. Edit: removed forgiveness from description on program. [link] [comments]  |
| Posted: 09 Aug 2018 11:50 AM PDT Hello! I just had a question for you guys. My financial aid award has remained the same on my school portal but when I check my E-bill only one of the scholarships I've been awarded is showing up. I've emailed financial aid about this and I'm not sure what's going on. I just need to know why my loans aren't showing up or what my balance is going to be as the payment date is next week. Any ideas? [link] [comments]  |
| Posted: 09 Aug 2018 11:32 AM PDT So I just checked my account after noticing that I wasn't charged this month. According to my alerts, my "request for deferment was approved" even thought I have not applied. Is this a mistake on their end? Or is it because I'm currently applying To med school? I am still working full time. I graduated undergrad in 2016 and did not have this issue in 2017. Appreciate the help! [link] [comments]  |
| Posted: 09 Aug 2018 07:31 AM PDT I received a Pell Grant this year; I was offered about $6000. After scholarships, I only would need about $1000 to finish paying my tuition for the year if I accepted it. To be frank, I don't think I should have been awarded it at all, as I don't exactly come from a low income family. This year was the first year my FAFSA was only filed under one parent which is what I believe led to me receiving it. The parent I filed under makes less money than the other so I feel a little guilty about being offered it. So my questions are:
Also any other general advice anyone can think of would be super helpful as I am feeling kind of guilty and confused about the whole situation and what I should do. [link] [comments]  |
| Posted: 09 Aug 2018 05:18 PM PDT I just need $700 to go back to school like within the next few days. I'll draw or sing or play piano for you. Just please help me out. [link] [comments]  |
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