I'm being garnished for my federal student loans, and I have no idea who to contact. I'm so embarrassed and ashamed. Student Loans |
- I'm being garnished for my federal student loans, and I have no idea who to contact. I'm so embarrassed and ashamed.
- $150K+ in loans, no degree, parents threatening to sue if brother can’t get a loan
- Should I be worried?
- I need a $2500 student loan without a cosigner.
- Best lenders for deferred repayment? $8.5K
- Refinance or Forgiveness?
- Ugh, I finally had to take out a private loan
- Will Choosing Forbearance Negatively Impact Me?
- How do student loans work?
- Question on MFJ vs. MFS for Income Based Repayment
- Timing Advice?
- (Pennsylvania) As a recent high-school graduate with no credit history and no co-signers, how can I get private student loans?
- Should have selected REPAYE not PAYE- unsub fed loans
- Consolidate with PAYE/REPAYE
- Am I supposed to take out private student loans before, during, or after my first year of college?
- How does the government know if you already have a bachelor's for the Pell grant?
- Trying to take out Private Student Loans, but I'm facing an issue with "School Certification"?
| Posted: 02 Aug 2018 04:20 PM PDT I don't even know how much I actually owe. A lot. I ignored it for years, a combination of poverty and anxiety. Apparently I signed up for forbearance and blew it off, so I'm screwed there. I'm working for a large national corporation and they finally caught up to me to garnish me. At first I was okay with it, I owe the money, right? Then I started making more and more and they took more and more. Then my partner lost his job; he's still looking and interviewing (specialized field) and I've been horribly evasive about money because I feel like a disappointment at a time when things are already rough. I need to do something; we're into month nine of unemployment (he's applied for 50+ jobs since January alone) and they are just bleeding me dry. That, and I should know more about this. I'm sure there's some website or something I should be able to log into. I don't know what for sure. I never opened all the letters from Direct Loans when they came. I just stupidly thought I'd get a job (even when I didn't finish a masters - at least I got the bachelors even with AD/HD). I'm going to be 39 and I have so much guilt and shame over this. Like, I'm almost 40, why can't I get my shit together? A friend of mine posted on Facebook today that after 7 years, she paid off over 100k of her loans. How? I just have no idea how people can afford to do this. I'm rambling, sorry. Where do I start? How badly have I screwed up? I've been running away from it so long I don't know how to face it. EDIT: Also, how would this affect us jointly if we got married? I don't want him to pay for my financial stupidity. [link] [comments]  | ||
| $150K+ in loans, no degree, parents threatening to sue if brother can’t get a loan Posted: 02 Aug 2018 09:40 AM PDT This isn't actually about me, it's my fiancé. I'm trying to help him figure this out. He has over $150k in loans, one federal, one Discover, and one Sallie Mae. Discover and SM are the biggest. Combined they want him to pay around $3k a month and he can't afford it. The most he can pay is about $500. The companies call multiple times a day and they call his parents as well because they co-signed. His parents are harassing him about this and adding a ton of unneeded stress to the situation. His father has pretty much disowned him. Fiancé has no degree but a good job at a repair shop that he will be the owner of in a few years. Of course the loans aren't going to wait for that to happen. His parents are threatening to sue him if his brother can't get loans for college because of it. Can they actually do that? He's looked into refinancing but they won't because he has no degree. Really there's not much he can do because nothing is going to change the fact he can only afford a few hundred a month. Is there some option out there for him? Something we've missed? [link] [comments]  | ||
| Posted: 02 Aug 2018 11:18 PM PDT I am nearly finished with college. I only have 3 regular semesters left and 1 or 2 summer classes. The thought of being in debt scares the life out of me. I got my associates degree at a community college and had no debt. Then I transferred to my current public university and had had to take out a $4,500 subsidized loan for last year (scholarships covered most of it). I did not receive scholarships this year for some reason, despite filling out endless applications and having perfect grades (University is far more competitive than community college). To get through this school year I will have to take out subsidized and unsubsidized loans totaling $12,500. So I will have $17,000 total in loans by the end of the school year. I am hoping that when it is all said and done that I will be below $25,000, hopefully closer to $20,000 or less. My major is Computer Science, and starting salaries in my area are pretty decent. I have spoken with many seniors who were offered jobs starting at $75,000+. I am planning to start at $60,000ish realistically, but am slightly hopeful for more. Is this amount of debt reasonable? I know that less is better, but this was the best I could do. Part of me is worried, but another part of me thinks that it is necessary at this point. I will say that I am a lot more motivated now.. I am going to do everything I can to prep for interviews over the next year. The part that scares me the most is not being able to find a job by the time I graduate. The industry is growing in my area, but I still have a ways to go when it comes to technical interviews. [link] [comments]  | ||
| I need a $2500 student loan without a cosigner. Posted: 02 Aug 2018 04:21 PM PDT I have a 699 credit right now. It should be over 700 soon. I have two min wage jobs. One, I've been at for over a year, but I plan to quit when summer is over. And, my new one that I've had for a few weeks. I live with my dad and I only pay my car bill ($150/month). Is it possible for me to get a student loan? [link] [comments]  | ||
| Best lenders for deferred repayment? $8.5K Posted: 02 Aug 2018 02:07 PM PDT After all financial aid my overall costs for fall/spring semesters will be 8.5k, I am twenty and got my associates at a local junior college and so am new to the loan process. Because I only have two years until I graduate, I figure deferment is the best way to go. Have so far looked at Discover, CollegeAve, and CommonBond and a common thread seems to be higher fixed rates for fully deferred loans. Any insight as to where I might have the best luck, or related testimonials for any of those lenders? [link] [comments]  | ||
| Posted: 02 Aug 2018 06:36 PM PDT Hi Reddit SL! Honestly looking for opinions/advice on why people chose to either re-finance their loans (e.g. with like Laurel Road, SoFi, etc)... OR What their plan is to gain PSLF (e.g. what have you been told on how to ensure you will gain forgiveness and have you followed these rules)...? Until May of this year no one had gained actual PSLF (see article in NYT on the man who gained it and the woman who was denied)... Any feedback would be greatly appreciated!! Edit: PSLF = public student loan forgiveness..granted after 120 payments working in a non-profit org.. https://www.nytimes.com/2018/05/04/your-money/student-loan-forgiveness.html [link] [comments]  | ||
| Ugh, I finally had to take out a private loan Posted: 02 Aug 2018 05:36 PM PDT Going to university and staying on campus. It's way more expensive than the community college I used to attend. Anyways, I took out a subsidized loan for 5,500 last semester, took another one for fall/spring, and also took out 2000 in unsubsidized loans. Yay. The remaining amount my family needed to pay was still too much, so we applied at Sallie Mae for a 11,000 loan to cover for fall/spring. So I'm about 30,000 in student loan debt. Hopefully I'll finish up next fall.......... [link] [comments]  | ||
| Will Choosing Forbearance Negatively Impact Me? Posted: 02 Aug 2018 03:33 PM PDT Hi guys. I have federal loans that I pay off every month. I am going back to school on the 20th of this month, but only taking 6 credit hours. I will be paying out of pocket for tuition each month for a few months, and because of this, I can not afford to also continue my student loan payments. I called Great Lakes (whom I make my payments to), and the person on the phone advised I take the forbearance option, which I understand will stop my payments temporarily, but interest will still accrue. I then asked her that if I choose this option, will it impact my credit negatively or positively, and she said she's "seen it go both ways". I also asked my bank as well, and they had no idea as well. If you have the answer to this question, I'd greatly appreciate it. My credit is in the 700s, but if it credit bureaus view a forbearance negatively, I'd like to know that beforehand. Please note, the lady from the Great Lakes call center told me on their end, my account will be in good standing if I choose forbearance, I am just unsure how the credit bureaus will view it and if it'll impact my score and eligibility to apply for private loans in the future. Thanks. [link] [comments]  | ||
| Posted: 02 Aug 2018 09:05 AM PDT First, how much can you take in a single year and what determines It? Like I read somewhere that there's a max of about 17,000 a year but I feel like some schools are way more expensive than that. Also, do student loans only cover tuition, or do they also cover living on top of that and what determines how much you need to live? [link] [comments]  | ||
| Question on MFJ vs. MFS for Income Based Repayment Posted: 02 Aug 2018 02:42 PM PDT Hi all, I got married this spring and am now looking to recertify my IBR plan later this month and have a couple of questions I thought you all may be able to shine some light on. This year, due to some unforeseen circumstances, I had to withdraw ~$150k from an inherited IRA to cover some expenses. Only I have loans, around $100k. My income is ~$60k, hers is ~$120k. IBR payment is projected to be ~$350/m vs. MFJ IBR (or standard 10y effectively) is ~$1100/m.
Thanks in advance! I've been knee deep in the numbers today and its making my head spin lol. [link] [comments]  | ||
| Posted: 02 Aug 2018 02:34 PM PDT Hey all. I'm a recent graduate (May 2018) who starts work in September. I plan on taking advantage of PSLF and IBR, as I work for a qualifying organization. I know I need to consolidate my loans so that they are all PSLF-eligible (I have some Perkins loans), submit my application for IBR, and submit my application for PSLF. I read online that sometimes processing IBR applications can take months, and I'd prefer to start making payments towards PSLF sooner rather than later. Also I don't know if this is irrational but I'm worried about getting my loans consolidated (which would take me out of the grace period I'm currently in) and then having payment due before my IBR application was processed. Should I just wait until September to consolidate and submit my IBR/PSLF forms or should I try to do it earlier? Also should I submit my IBR form before consolidating? Sorry if these questions are stupid but I really appreciate any help on this! [link] [comments]  | ||
| Posted: 02 Aug 2018 09:40 AM PDT
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| Should have selected REPAYE not PAYE- unsub fed loans Posted: 02 Aug 2018 09:34 AM PDT I'm currently kicking myself for a selection from last November. I have slightly over $100K in unsubsidized direct federal loans. When I entered repayment last November, I didn't do my research. I was doing an internship with a salary of 29K and ended up on PAYE. Looking at the interest benefits now, I see I should have selected REPAYE because then the government would have been paying half of the interest accruing because my monthly payment of $95 didn't even come close to touching the interest. I'm now making 95K and am paying much more than the minimum, but I've accrued about $3000 of interest over the past year. Would it do me any good to switch to REPAYE now? I know once I have to resubmit income information for November it won't do any good because then the monthly payment will cover all the interest accruing, but is it worth it to try to get that benefit for three months? Also: ALWAYS READ ALL THE TERMS!!!! I could have saved $1500 over the past year by being on REPAYE not PAYE. [link] [comments]  | ||
| Posted: 02 Aug 2018 07:00 AM PDT I am finishing grad school with about $250K in student loans. Should I consolidate my loans and forfeit my grace period to enroll in PAYE or REPAYE before I begin working full time so I can qualify for lower monthly payments? Or wait 6 months until my grace period is over to enroll but then have higher monthly payments? Any advice is greatly appreciated!! [link] [comments]  | ||
| Am I supposed to take out private student loans before, during, or after my first year of college? Posted: 02 Aug 2018 09:27 AM PDT I'm an incoming freshman and will max out my federal loans for the first year. I know I can take out private loans right now, but my university only gave me the costs for my first semester of college, so I don't know how much the second semester will cost, and as a result I don't know exactly how much I'll need to take out in private loans to cover the whole year. All I know is that federal loans won't be enough to cover my college costs. [link] [comments]  | ||
| How does the government know if you already have a bachelor's for the Pell grant? Posted: 02 Aug 2018 08:48 AM PDT So I finished a double major while planning on going to grad school, but now I may just end up going to a professional program that gives a bachelor's instead (I know 3 bachelor's seems so stupid.. and it is). Itll only take 2 years to finish at around 30,000 total. I only received the Pell Grant my first year of school and got a total of 5,000 of loans that are almost paid off through my first 2 years. I know you're not supposed to receive the Pell Grant if you already have a bachelor's but does the government really have any means of knowing if you have it or not? [link] [comments]  | ||
| Trying to take out Private Student Loans, but I'm facing an issue with "School Certification"? Posted: 01 Aug 2018 06:52 PM PDT Hey guys! I'm brand new to this sub, but I figured maybe you guys can help me with an issue I'm dealing with! I'm trying to start flight school this fall, and I've been trying to get my student loans processed over the past 2-3 months to make this dream my reality! I am doing government loans, but also private student loans through Sallie Mae which you guys are probably familiar with! My issue is, with Sallie Mae. The whole process has been stuck at the school certification process since June it's been at this stage. I call Sallie Mae about once a week, and they keep telling me to wait it out. It's August 1st at the time of this post, and Fall term is right around the corner here. This is my first time getting private student loans, so can someone shed some light on this? Is this normal? Classes start on the 20th and these seats are filling up! Thanks a ton guys! [link] [comments]  |
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