Made my first dent in my student loans while still in grad school Student Loans |
- Made my first dent in my student loans while still in grad school
- Took me 18 years but I made my final student loan payment today :)
- Loan Counseling Help
- Bringing borrowers together
- Exit Counseling
- Private loan for graduate study in Germany?
- Optimizing credit in advance of a refinance
- student loans easily dismissed in bankruptcy
- Maximizing student loans while minimizing interest and fees (3 year time-off studying)
- Help with the Employment Certification Form
- Just came across some extra pocket change. How can I put it toward my principal instead of my monthly payment?
| Made my first dent in my student loans while still in grad school Posted: 07 Sep 2018 09:30 AM PDT Just paid off one of my private loans with a bullshit 10% interest rate. Paid $6,574 in full. One time payment. Have about $1,500 to my name now but I'm just here to say I'm very proud of myself. I'm working full time and interning full time and I never sleep any more. Only $41k to go.... [link] [comments]  |
| Took me 18 years but I made my final student loan payment today :) Posted: 07 Sep 2018 10:23 AM PDT From 2000 to 2006, I was $30,000 in the hole from student loans. I can't say I had a bad repayment experience because I didn't. My loans went through three different companies for repayment. Never had to contact any of them for anything because I used Auto Pay the entire time so my payments came out on cruise control. There was a benefit to that with one of the companies. They had a system where if I made X amount of payments on time, they'd deduct a percentage off the top of my loan balance (I think it was 1%). They did that twice and it helped bring my loan balance down quicker. Another benefit was that a good chunk of my monthly payment amount went to principal which saved me money down the line. And because I used Auto Pay, and I didn't under any circumstances want to default on the loans, I made damn sure I had sufficient funds available in my bank account specifically for the student loan payment. It forced me to save, budget, and live more frugally because I always kept my credit score in mind. And believe me, I was a VERY poor college student (no car the entire time with periods of unemployment and dropping out of several semesters). The easiest way to avoid student loan debt is to never get any to begin with. If you can't afford college, don't go. If you don't know what you wanna do with your life, college isn't gonna help you figure it out. If you're currently drowning in student loan debt, drop out of college and reassess your goals. You DON'T need college to be successful in life! [link] [comments]  |
| Posted: 07 Sep 2018 04:50 PM PDT From what I read online, it is better to pay off high interest un-subsidized loans first, then your subsidized loans. (I don't have any private loans) My question is, I believe I still have until January in my grace period, so does that mean when January comes, I should pay off the also high interest subsidized loans? The principal amount for my subsidized loans are generally greater than my un-subsidized loans, so will that factor in as well? My month salary now is roughly 5k, and I do not have a vehicle. My only other large expense would be rent (1k) and food and supplies. [link] [comments]  |
| Posted: 07 Sep 2018 03:32 PM PDT Been thinking about ways to support student loan borrowers (cheaper tuition, affordable loans, borrower assistance, etc.). Would appreciate thoughts on a platform where borrowers come together to collectively bargain for cheaper loans and borrower benefits. Uniting borrowers keeps lenders competitive, collectively negotiating lower rates, and also promote visibility into loans available across a range of credit profiles. Instead of advertised range of rates (ex. 2% to 13%), we could pinpoint who has the cheapest loan for a given credit profile so everyone can enjoy the lowest rates/payments. Proactive assistance can also be given to at-risk borrowers among other borrower-focused benefits. Feels like there's so much that can be accomplished if the millions of borrowers came together. Would love any thoughts and support on the venture - kofunds.com. [link] [comments]  |
| Posted: 07 Sep 2018 02:55 PM PDT Hi! I recently withdrew from my university, and will be going to CC. However, fall quarter had already started at my CC, so I won't be in school until winter session which starts in January. So, I know that I need to do my exit counseling for my uni, but does my mom need to do that too (she was used for the plus loans)? Also, can someone explain to me about the difference between standard and graduate payment plan? Am I suppose to start paying for my loans right away after doing the exit counseling? Thank you! [link] [comments]  |
| Private loan for graduate study in Germany? Posted: 07 Sep 2018 11:24 AM PDT Hey everyone; I am an American who is starting master's study in Germany this October, and I am looking to borrow around $5,000-10,000 for living expenses. While looking at some typical lenders, it appears that most German institutions (including the one I will be attending, Tübingen) are not covered. Also, in Germany, I do not qualify for any US federal loans, only deferment of previous federal loans. Can anyone point me in the right direction for attaining a small loan for graduate study abroad? It is also worth noting that getting a cosigner may not be very easy for me. Moreover, I am 28, and a British citizen (dual citizen; not a resident of Britain), if this helps at all. I should emphasize that I am not a RESIDENT of the UK which disqualifies me from most benefits. Cheers [link] [comments]  |
| Optimizing credit in advance of a refinance Posted: 07 Sep 2018 09:57 AM PDT Hi guys, I'm in my last year of grad school. In advance of graduating and consolidating/refinancing my loans, I'm trying to clean up my credit as much as possible. On my FICO score, the only thing hurting me is "Utilization on loans too high," meaning my deferred, unsubsidized loans have higher balances than the original amount. Would student loan lenders care about this? FICO might not care that it's a deferred loan and I'm still in school, but I'd think a SL lender would be different. Paying down the accumulating interest would put a lot of strain on my student budget. Any insights? [link] [comments]  |
| student loans easily dismissed in bankruptcy Posted: 07 Sep 2018 01:50 PM PDT If all the current and former college students in the US chipped in $100 (or more) to a fund to hire an army of lobbyists and advertisers to buy enough legislators to make student loans as easily dischargeable as credit card debt, do you think it could be done? Why or why not? [link] [comments]  |
| Maximizing student loans while minimizing interest and fees (3 year time-off studying) Posted: 07 Sep 2018 07:31 AM PDT I plan to attend school full-time for the next 3 years and finish my degree and get my CPA - I was curious if there is a way to maximize my FASFA loan amount as a undergraduate with around 50 credit hours. I plan to use my loans to cover rent and focus on studying. Any ideas on minimizing my interest rates in 2018? I have decent credit (734 at the moment) and I currently working. [link] [comments]  |
| Help with the Employment Certification Form Posted: 07 Sep 2018 07:26 AM PDT I moved from one organization in a large government agency to another one. But my current HR can only certify my employment in my current position. That leaves 20 months of payments before that unaccounted for. FedLoan told me if I submit a form for the previous employment, since it has the same Employer Identification Number, they'll consider it the same and recognize a discrepancy in the start date and reject the form. So I'm kinda stuck. Has anybody had a situation like this before? [link] [comments]  |
| Posted: 07 Sep 2018 06:15 AM PDT I was told that it would benefit me to throw any extra money I might have laying around into my principal as opposed to just the monthly payment (all interest at this point as I just started paying it)... but I don't see that option on Nelnet's website? It seems like a scam to be forced to pay for the interest first, especially if the term of the loan would be shortened by chucking any extra dough at the principal. I want to get these things out of my life quickly. Help? [link] [comments]  |
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