recent grad starting to pay off my loans. Best repayment plan option? Student Loans |
- recent grad starting to pay off my loans. Best repayment plan option?
- Best options for Private Loans?
- Advice on large amount of student loan debt
- Need Advice on Admin Forbearance
- Premiere Student Loan Center. Is this legit?
- Advice/Thoughts on my Payoff Strategy (~$90k)
- Late payments ruined my credit score. Advice..
- Need advice for getting a loan with no co-signer
- Need help filling out survey!
- Student Loan Advice
- Varying REPAYE start dates
- SL Servicer wanting to place account in Forebearance(?) while they process my REPAYE application, but did not allow me to apply for REPAYE before the loans became due.
- Viewing which are IBR and which are PAYE?
- Defaulted loan. Suggestions?
- Question about extended fixed graduate plan vs pay as you earn
- Increasing Parent Plus Loan
- $10k in student loans, want to pay some of it while in undergrad, what do I do?
- Help unstick TEPSLF from red tape!
- totally clueless.. please help!
- Am I likely to get approved for a student loan if my credit stinks but my cosigner has excellent credit?
- Loan re-certification requirements upon job/salary change?
- Need some advice, can't seem to find answers.
- Student Loan Interest Deduction vs refinancing
| recent grad starting to pay off my loans. Best repayment plan option? Posted: 08 Aug 2018 04:44 PM PDT I have 36k in student loan debt. My servicer is nelnet. I don't want to commit to a plan that takes me 20 or more years to pay off, but I also can't really afford to pay more than $100-200 a month right now... (I make ~$2400 a month) I'm thinking about the graduated plan, but it scares me to commit to something that requires me to be making a significantly greater income in the future in order to be able to afford the increase in monthly payment amount, when there's no way I can be 100% sure that will happen. Advice? Is anyone in a similar situation? Thank you. [link] [comments]  |
| Best options for Private Loans? Posted: 08 Aug 2018 05:59 PM PDT Will be starting a second degree this fall. Got $12000 (part unsub and part sub) offer loan with 5.05% interest at school. Seems a little high so I was wondering if getting private loan would be a better option, if so where? Any feedback or opinion would be appreciated. [link] [comments]  |
| Advice on large amount of student loan debt Posted: 08 Aug 2018 06:11 PM PDT So I will be graduating this December with a degree in construction management. I already have a job lined up with a starting salary of $61.5k. The downside is I have about $119k in student loan debt. Most of this is private through wells Fargo the rest is federal (I'd say 80/20 split) I am really wanting to refinance my private loans due to interest rates being higher and having the ability to extend the loan repayment period. So I guess my question is looking through eligibility requirements it seems like the only chance of refinancing is probably going to be through Earnest, I'm just curious on how likely I am to possibly be approved, also wondering if I should apply before I graduate because I read that they will honor my grace period after graduation and my total interest for those last few months would be lower. I'm sorry for such a long post I'm just trying to figure things out and it's honestly really scary and overwhelming so any advice at all would be appreciated. Thanks guys and gals! (Sorry for poor editing on my phone) [link] [comments]  |
| Need Advice on Admin Forbearance Posted: 08 Aug 2018 01:26 PM PDT Former ITT Tech student, graduated just like 2 months before the entire place was shut down. Based on what I read 2 years ago I submitted paper work to attempt to get the loans discharged. Since then my loans have been sitting in "Admin Forbearance" and my payment due shows $0.00 and isn't due until next year in 2019. Over the past two years my loans have gained interest and essentially my price point is now more then what it was before I submitted anything. I recently spoke with FSA and my Loan provider, each of them told me there is no guarantee if my loans do get discharged that I would get any type of refund. So with that being said it didn't make much sense for me to pay lets say $5,000 towards my loans, if the chance my loans do get discharged I will end up never seeing that $5k I put into them. However if my loans don't get discharged then I am stuck with a hefty bill due to the interest gained from my loans.... Any help or advice is much appreciated, its not that I don't want to pay my loans it just feels like I am essentially throwing money in the garbage. [link] [comments]  |
| Premiere Student Loan Center. Is this legit? Posted: 08 Aug 2018 09:56 AM PDT Hello all, I just received a call from the Premiere Student Loan Center. The gentleman on the other line determined I was indeed interested in reducing the amount I owe. I gave him the email I had associated with FASFA, and he was immediately able to tell me all the info on my loans (number of loans, total amount, etc.) So they must be associated with FASFA somehow. He asked me a few questions about employment, my household etc. and then gave me a rate based on that info. He then told me that if I sign up, my total amount will be reduced to a fifth, monthly payment down to $40 etc. He said that this was implemented by the Obama administration and that not a lot of people know about it unfortunately. I was a little concerned when he told me he would need some payment info to link to my new account in preparation for the first payment. He told me no worries and to talk it over with whoever i needed to, he would get on speakerphone with my parents etc. etc. I told him what about my NelNet account? And he just said they would be taking over the loan and I would no longer be paying to NelNet. Is this legitimate? Whats the catch? [link] [comments]  |
| Advice/Thoughts on my Payoff Strategy (~$90k) Posted: 08 Aug 2018 08:04 PM PDT I wanted to hear everyone's thoughts on my strategy. Currently 25, making $62k a year, and roughly $65k after bonus. Given my career projection, its highly likely that I will be making ~$100k-$120k within the next 5 years. Here are my loans (rounded): Public: $3,100 @ 3.61% $3,700 @ 3.61% $8,400 @ 4.41% $2,700 @ 4.04% $1,100 @ 4.04% $10,400 @ 5.06% Total Monthly Payment: $320 Private: 60k @ 7%* Total Monthly Payment: $570 *Recently refinanced in June from ~11%, I will refinance every 12-18 months for a lower rate. I contribute 6% of each paycheck, of which my company matches (maxing out my match), in addition to contributing to an HSA. I have an emergency fund of $8k in a high interest savings account, of which I will contribute a small amount to (~$200/month), but may put and future contributions to this account toward my loans. I'm pretty conservative with my money, not wasting it on unnecessary purchases. Currently living with my parents, but will be moving, leaving me closer to my work. After all expenses(including, bills, car payment, gas, entertainment, future rent payments), I am projecting to have roughly $300 left over each month. This small amount left over each month somewhat makes me uneasy. There is not much wiggle room if my cash flow unexpectedly drops due to unforeseen expenses (I understand this is what my emergency fund is for, however I do not want to dip in this on a potentially frequent basis). In theory, it would be best for me to attack the high interest loans first (avalanche), however, I am curious to see thoughts on paying off smaller loan amounts to reduce my monthly payments once the smaller balance loans are paying off(snowball). This in turn would increase my cash flow and give me breathing room. In the future, when I am comfortable with my cash flow, I would switch back to paying off the high interest loans. Thoughts? I apologize in advance if I have left anything out, I'd be happy to supply more information if anything important has been omitted. Thanks! [link] [comments]  |
| Late payments ruined my credit score. Advice.. Posted: 08 Aug 2018 01:56 PM PDT I racked up 6 late payments. It has completely destroyed my credit score dropped my score 200 points. The loans are through Nelnet, I have heard it is nearly impossible to get the late payments dropped from my credit report. Anyone have advice on how to get them removed? [link] [comments]  |
| Need advice for getting a loan with no co-signer Posted: 08 Aug 2018 07:54 PM PDT I myself have little to no credit (I'm only 19) but my dad has no credit and my mom has good credit but keeps being denied when I add her as a co-signer. Do I have any other options for getting a private loan? Or any other options for paying for school? [link] [comments]  |
| Posted: 08 Aug 2018 07:47 PM PDT Can you help me get feedback on this survey for a new startup offering lower interest rates! And yes, it's possible. r/https://www.surveymonkey.com/r/6MJ68ZP [link] [comments]  |
| Posted: 08 Aug 2018 01:39 PM PDT First of all I'm not totally sure I'd this is the right place to ask for advice on my situation, but oh well. I am going to college this Fall semester and was wondering about student loans. As of right now, I will be paying around $11,000 this semester. However, my grants/scholarships cover $9,000 of that. I was thinking of taking out a subsidized student loan of $3000. I also have saved up around $600 this summer for college. After books, parking pass, and other miscellaneous things I think I will have around $1000 of living money ($400 from the loan and $600 from what I've saved). Do you think that that amount is enough? Or should I take out $3500 as an extra cushion? [link] [comments]  |
| Posted: 08 Aug 2018 03:31 PM PDT Hey there. I completed grad school in June and applied for Income-Based Repayment. I was approved. My loans are split into 6 different groups and when I was checking out the repayment schedule & amounts, DIRECT GRAD begins on 12/28/2018 and DIRECT UNSUBSIDIZED begin on 09/28/2018. Any idea why the unsubsidized loans begin earlier than the 6-month grace period? [link] [comments]  |
| Posted: 08 Aug 2018 09:25 AM PDT As the title says, I applied for REPAYE about 15-30 days before my loans became due, but it would reply with "You cannot apply for a repayment plan until your loans are due" or something of the sort. Now, I applied for it, but my account is past due because of the application and when calling, NAVIENT said he would put my account in Forebearance in order to allow for the application to take place. What is forebearance, and why would it capitalize my interest? What should I do here? [link] [comments]  |
| Viewing which are IBR and which are PAYE? Posted: 08 Aug 2018 08:10 AM PDT I recently re-certified my income based repayment plan through StudentLoans.gov and MyFedLoan. It said not all of my loans are eligible for PAYE, and so the loans are a mix of IBR and PAYE. Is there a way to view which loans are IBR and which are PAYE without going through and manually assessing eligibility? I looked through both websites and I can't find anything. [link] [comments]  |
| Posted: 08 Aug 2018 09:59 AM PDT Hey there! Long story short. I defaulted on my government student loan. It was only 3600... but still. I was offered rehab, settlement, or pay in full to an agency. The full amount has 800ish dollars tacked on for collection fees. My questions are, why would you pay in full if you are able to settle for less? If I can afford settlement but be left with little no money, should I choose this over rehab? Thanks! [link] [comments]  |
| Question about extended fixed graduate plan vs pay as you earn Posted: 08 Aug 2018 12:24 PM PDT I currently make around 65k~ a year, and my wife became unemployed last year when we had my first child. I have about 68k in student loans right now, and am on the extended fixed repayment plan. The payment is basically 416$ for 30 years. However, with a newborn and my wife out of work, it is becoming a bit hard to keep up with it. If I switch to the pay as you earn plan, I will only pay 250$ a month now, however I'm not sure if this is the best approach. I know that the forgiveness at the end of the pay as you earn is taxable income, but the extra 200$ a month would be really helpful right now. Is it possible to go on the pay as you earn now, and then switch over back to the extended repayment option later down the line, or should I just do the pay as you earn and wait it out (my wife will most likely never go back to work full time, we live in an area where the cost of living is quite low) Any helpful suggestions would be great, thanks! [link] [comments]  |
| Posted: 08 Aug 2018 04:02 PM PDT My school's Cost of Attendance is $25,524. Financial aid I'm receiving is $6,270. That leaves me with a term balance of $6,391. My parent plus loan is $6,465. Which after everything is paid for leaves me with about $70 if I calculated correctly. As I need a refund to be able to buy books $70 doesn't even cover the cost of one book. Am I able to increase the parent plus loan to about maybe $2,000 more ? Would you recommend this ? [link] [comments]  |
| $10k in student loans, want to pay some of it while in undergrad, what do I do? Posted: 08 Aug 2018 09:31 AM PDT As the title says, I have $10k in student debt (subsidized loans and 6-month grace period) that I want to pay off. I'd love to pay them as quickly as possible so that I don't have any (or very little) debt upon graduation. I'm still in undergrad and will be returning to school after my summer internship. After my internship I'll return to school with about $7k-$8k in savings. I will pay ~$1k a month in rent on a 1-year lease (Seattle rent isn't a joke) that I plan to get a job to pay, so that shouldn't be too much of a dent on my summer savings.
Apologies in advance if some questions are not making complete sense or in illogical order, I'm not completely sure how student loans work, which is why I'm here. Thank you. [link] [comments]  |
| Help unstick TEPSLF from red tape! Posted: 08 Aug 2018 01:20 PM PDT According to this letter to Secretary DeVos from four senators, it seems TEPSLF (and the entire Public Service Loan Forgiveness Program) is stuck in a boondoggle of bureaucracy. Help me try to unclog the pipes and see if we can get some action. Over the past few months, I have contacted both my senators (initiated two "casework" requests), talked to various FedLoan employees (with various answers), emailed under sectary of educations (to which I received one response, then ghosted). Today I emailed all the senators who signed that letter above (Duckworth, Hassan, Kaine, and Whitehouse - had to use contact form as senate.gov's emails got kicked back.) and Secretary Devos at betsy.devos@ed.gov
to which I just received this reply;
This post is written in an effort to try to get an email campaign started to unsitck the clogs. Write your senators. Write the four listed above. Write betsy.devos@ed.gov Couldn't hurt to try. [link] [comments]  |
| totally clueless.. please help! Posted: 08 Aug 2018 01:09 PM PDT Hi everyone. I don't know much about finances so I am struggling with trying to figure out my own. I am looking at income-based payment plans and don't really understand the difference between PAYE, REPAYE, and income-based. Some background about my situation: right now my loans are in deferment until January 2019. I owe ~$24,000. On a standard payment plan, my monthly payment would be $272 which is too much for my $1580 monthly income (after taxes). I do not see myself making too much more money in the coming years (I work in a low paying field, but I love what I do!) I do not pay rent currently, but plan on moving soon and will have to start paying rent in a high cost of living area. I'm also about to take on some more expenses (like health insurance, car insurance, car payment, phone bill) because my parents are kicking me out of their nest for good, lol. [link] [comments]  |
| Posted: 08 Aug 2018 12:14 PM PDT Hey y'all. I am currently in need of a private student loan to be able to pay for my upcoming fall semester of my senior year. This is the first semester in college I need to get a private loan for. Up until now I have only utilized federal loans and my parents have paid the rest of my tuition out of their pocket. Due to circumstances beyond their control, my parents will not be able to pay for all of my tuition this semester. This leaves me with about $15-$20k to cover. However, my dad said that he would be willing to cosign a private loan for me. His credit score is EXCELLENT, I'm talking 800+. But my credit score is not so excellent, it's around ~500. That being said, how likely is it that I will get denied from a private loan because of my bad credit? Will my dad's excellent credit history enable me to get a loan? I'm really confused right now but any help would be much appreciated. [link] [comments]  |
| Loan re-certification requirements upon job/salary change? Posted: 08 Aug 2018 12:05 PM PDT Hey all, thanks in advance. I have consolidated loans in REPAYE. I know I need to certify my income every year (my next scheduled certification is in June next year). I am hopefully about to be taking a new job that will have an increased salary. Do I have an obligation to recertify early? Or can I take advantage of the time with a higher salary and lower student loan payments to take care of some other debts? [link] [comments]  |
| Need some advice, can't seem to find answers. Posted: 08 Aug 2018 11:20 AM PDT I've searched a good bit and can't seem to find good answers, so I'm just going to ask directly. I'm 24, I work full-time, making about $25k a year. I'm registered for 3 classes at at technical college. I apparently make too much money for pell grant and I don't qualify for any scholarships or grants. I didn't get approved for my states private loan. I have no idea what to do and my schools financial aid department isn't really much help. I only need about 1300 for tuition.I can't afford to pay in cash because of living expenses and I have no financial backing from parents.I've looked at Discover and Citizen Ones student loans but they don't cover my school, so I can't even apply. I was going to get my mom to cosign for Sallie Mae, but it seemed that I should try everything else besides them, but at this point I don't know where else to go. I just want to go to school and get out of food service.. any advice please? edit: I could move back in with my mother and not pay rent, that way I'd be able to pay cash. [link] [comments]  |
| Student Loan Interest Deduction vs refinancing Posted: 08 Aug 2018 08:13 AM PDT If I refinance with First Republic Bank, a private bank, will I lose the interest deduction? I'm currently paying between 4-6.9% interest on my 48,000 remaining loans. I got a 1.95% rate with FRB. Is it worth it to refinance if I don't get the interest tax deduction? [link] [comments]  |
| You are subscribed to email updates from Advice, articles, and general discussion pertaining to student loans.. To stop receiving these emails, you may unsubscribe now. | Email delivery powered by Google |
| Google, 1600 Amphitheatre Parkway, Mountain View, CA 94043, United States | |
No comments:
Post a Comment