23 Weird Scholarships That Can Help You Afford College Student Loans |
- 23 Weird Scholarships That Can Help You Afford College
- For those applying for the TEPSLF - a minor update
- Help - need some advice for a starting point
- Can someone explain the "tax bomb"?
- Is consolidation the best choice?
- Navient "NAVIrefi"
- How concerned should I be about my payments not reaching the loan principal while in PSLF?
- Submitted paperwork for IBR but I have since gotten a higher paying job.
- IDR Recertify Manual Submission Questions
- PAYE Question
- Fixing Default While Still Being Able to Afford Life...
- Taking prerequisites - loan deferment?
- My Experience with Financial Preparation Services
- Is this a good rate/deal for refi?
- Does RePAYE have compound interest?
- Refinance my loans?
- Which should servicer should I keep: Navient or Great Lakes?
- Looking for some clarity!
- REPAYE v. IBR?
- Can someone explain to me how my loan interest work?
| 23 Weird Scholarships That Can Help You Afford College Posted: 26 Oct 2018 08:29 AM PDT Hi all, i was doing some research into scholarships and the vast array of them out there and decided to write this article about the weirdest/most unusual ones I could find. A lot of them let you apply while in college, so they may help lessen your debt some! Hope someone finds it useful, and if nothing else you might just learn something lol. [link] [comments]  |
| For those applying for the TEPSLF - a minor update Posted: 26 Oct 2018 10:15 AM PDT hi there. You may have seen the NYT article earlier this week that mentioned that even though the fed site stated you had to be rejected under PSLF before applying for the TEPSLF, that wasn't the case. I checked on this earlier today and have clarified that while you do need to be rejected under PSLF, you can send the PSLF application and the TEPSLF appeal at the same time. In other words, while you do need to be rejected, you don't have to WAIT to be rejected to send the appeal. You can read the details on how to apply for PSLF and the TEPSLF in the forgiveness section at www.freestudentloanadvice.org [link] [comments]  |
| Help - need some advice for a starting point Posted: 26 Oct 2018 10:25 PM PDT Hey all - a friend of mine has a huge amount stress surrounding student loans and I'm hoping to get some advice. Her situation - she is a single mother of 2 who doesn't currently work (no income). She got dealt an unfortunate hand - basically throughout college she was under the impression that her parents were taking care of all of her expenses. Little did she know they were taking out loans in her name and surprise here she is jobless with a family and $225k in debt. Her debt - She currently has 11 loans all through Navient (mix of private and federal) for a total of 225k. She graduated in 2008, she has payed small amounts when she could but nothing consistent. This is a huge stress for her and her family and I'm hoping for any advice I can offer on how to possibly consolidate or negotiate the loans. Any info helps here, thanks! [link] [comments]  |
| Can someone explain the "tax bomb"? Posted: 26 Oct 2018 07:52 AM PDT So I'm starting to look at options for repaying my student loans. I'm reading a lot and leaning towards towards the income based repayment plan. Great! But whenever I look around I see things that mention a "tax bomb" at the end of paying off my loans, does this apply to the ICB? Thank you! [link] [comments]  |
| Is consolidation the best choice? Posted: 26 Oct 2018 06:51 PM PDT I graduated college in May and my mom has parent plus loans for me that we're about to start paying here in a few weeks. One is $29,000 with a 6.3% interest rate, another is $10,000 with a 6.3% interest rate, and the last is $28,000 with a 7% interest rate. I looked into consolidating and studentloans.gov estimated it to be $67,000 with a 6.6% interest rate. Is that better or worse than having the 3 separate interest rates? Edit: I saw stuff about refinancing to a private lender for a lower interest rate... is that worth it? [link] [comments]  |
| Posted: 26 Oct 2018 08:21 PM PDT New to the forum- I hold a Navient refi, first refi'ed ca 55K w Citi at fixed 4.5% (autopay) in 2005, Sally bought it, then Navient. I was able to hold the APR as I kept payments in order, luckily. Navient sent me prequalified documentation to refinance their loan to a fixed 3.480% w autopay, and I applied- I have >800 credit, and was denied in less than a second. Other than that change being an obvious net loss to them, is there something I'm missing? [link] [comments]  |
| How concerned should I be about my payments not reaching the loan principal while in PSLF? Posted: 26 Oct 2018 06:47 AM PDT I have 8 different loans borrowed at 200k total. The individual accounts range from 3k to 40k and they are not consolidated. I am aiming for PSLF on an IBR plan. My minimum payments do not reach my principal at all so I am concerned about my interest being added to my principal and eventually leading to an increase in my monthly payment over the next 10 years. I was considering paying off 2 of the smaller accounts completely. Paying the smaller ones off now is a very small setback, and in the long run I would still be saving so much more with the PSLF on the larger loans. Would paying off those 2 accounts effect my PSLF for the other accounts? or are they considered 8 different accounts? How concerned should I be about my payments not reaching the principal? [link] [comments]  |
| Submitted paperwork for IBR but I have since gotten a higher paying job. Posted: 26 Oct 2018 04:51 PM PDT Hi all, I have looked and haven't found an answer on the studentloans.gov website. But earlier I applied for IBR while in grace(my grace period ends in Dec), however, I was a latte hire for teaching so now my yearly income will nearly be double what I expected it to be. What do I need to do about the loans? My plan was to pay as much as I could to begin with, even with a $0 minimum payment. If I do so until it is time to re-certify, are there any penalties? Is there a way to update to the correct income? Should I? [link] [comments]  |
| IDR Recertify Manual Submission Questions Posted: 26 Oct 2018 04:16 PM PDT I cannot use the IRS retrieval tool for the last 2 years because someone used my social, so now I have to manually fill out all these forms each year.
My goal is it too make this friendly for everyone, me, employees who process this stuff and the environment :-) [link] [comments]  |
| Posted: 26 Oct 2018 03:16 PM PDT Hello all, I am currently on PAYE plan of about $35,000 in student loans. In the past year, I got married and although my spouse only worked for partial year, our combined income will be too high to be eligible for the PAYE according to the StudentLoans.gov. Since my annual certification is due on February 2019, I am thinking to change to REPAYE to retain the benefits of IDR plans. I understand my interests will be capitalized. If anyone is able to assist me, my questions are:
Please let me know if you need any additional information. [link] [comments]  |
| Fixing Default While Still Being Able to Afford Life... Posted: 26 Oct 2018 05:27 AM PDT So a little background info, I took out loans to get an Associates degree, I finished the degree in 2015/16 planning to transfer credits and get a bachelors, however, after I got my Associates, I lost my car (accident), apartment, job, safety net cash, etc. All in the same month. So I spent the past year and a half to two years getting a new job, new girlfriend, new car, new place, etc. So obviously I was out of school more than X amount of time and i was supposed to start paying on the loans..needless to say I couldn't afford it and defaulted. So now, I am trying to go back to college, but I am not allowed to take out any more loans until my associate loans are out of default. So I entered the loan rehabilitation program and was told after six payments I would be eligible again. However, I am going to make my third payment today but my check this week was garnished by them and they said I started the program too late so now I'm being garnished AND having to make voluntary payments. They said the garnishment will only stop after my fifth voluntary payment, or i can go to court and argue, but by the time i get to that court date i will have made the fifth payment lol. I currently only make 12.50 per hour at about 32 hours a week paid every other week. That is absolute crap to start with nevermind with all these extra expenses. I have a stepson, credit card debt of about $1500, my share of rent and utilities is around $750 a month, and oh yeah fucking Christmas is in less than 2 months now. I don't know if I'm even going to survive, I have no way to get food now or pay my credit card payments, or get gas, or fucking anything without making my credit card debt worse. Does anyone have any advice for this situation? Thank you! TLDR; My wages are being garnished while I am also in a loan rehabilitation program and I can no longer afford food or my bills. What do I do? [link] [comments]  |
| Taking prerequisites - loan deferment? Posted: 26 Oct 2018 02:54 PM PDT Hello! I'm a recent undergrad graduate with approx 40k in student loans. However, I decided I want to pursue nursing and am planning to begin taking prerequisite courses at a local community colleges while working a part time job. Would I be able to defer my loans with these circumstances? [link] [comments]  |
| My Experience with Financial Preparation Services Posted: 26 Oct 2018 02:33 PM PDT Anyone have experience with Financial Preparation Services? I had started to work with them and the experience so far has been nothing short of excellent. I went to a private school for my first year and didn't realize just how egregious the costs of private schooling really can be as opposed to gaining in state residency and paying just a pittance of those fees. My contact for financial preparations services detailed the process and how the company works and that its a service for federal student loan document preparation and processing services where they can help with the assistance of finishing off my current debts. The remaining payments that I had left are no longer due and I'm in the clear for future payments for my first year of private school debt that I have no longer. Previously I paid off the public school tuition as I received in state tuition and just was letting the private school loans bill me every month. I'm glad that I took the alternative and didn't have to pay the financial preparation services up front but after the documents were prepared and as a busy working professional I don't have the time to dig through and find all of these loopholes that could lower or stop my student debt from having to be re-paid. So overall very happy and would recommend to the other redditors in the community that were like me and went to private school and ended up with way too much debt... Glad to answer any other questions you guys have about my experience. [link] [comments]  |
| Is this a good rate/deal for refi? Posted: 26 Oct 2018 09:24 AM PDT Got SoFi to beat FirstTech on a rate match. Refinancing 150k First Tech = 4.02% 10yr fixed SoFi = 4.224% (3.974% after auto-pay) + $500 cash bonus on a 10yr fixed Anyone else know of better rates out there? [link] [comments]  |
| Does RePAYE have compound interest? Posted: 26 Oct 2018 10:59 AM PDT I've been looking everywhere and cannot find a good answer to this. I understand that with RePAYE that your interest capitalizes if you leave the program. Does this mean that I'm not paying interest on my interest except if I leave the repayment plan? The reason I ask is that I want my loans to remain at about the same amount during residency. To do this, I could make additional payments on top of my income driven payments, but could also just set that same money aside in a savings account instead of applying it to the loan each month which comes with several advantages. However, I would only want to do this if it will not generate additional interest on the loan. Thanks everybody [link] [comments]  |
| Posted: 26 Oct 2018 10:23 AM PDT Hey everyone, I'm a physician assistant who worked through college and grad school to get my degrees. Unfortunately I'm pretty significantly in debt. Now being a PA I make a good salary and can pay my debt down but I'm in $170,000 of debt so it'll still take time. The question is, I get letters in the mail from companies like SoFi who want to refinance my debt for a lower interest rate. Should I do this? It sounds good but the catch is, working in healthcare I can get some debt forgiveness if I work in underserved areas. I don't right now so it's neither here nor there, but if I move jobs to an underserved area will my chance for debt forgiveness go away when the government doesn't hold my loans? Any experience/suggestions? My debt forgiveness wouldn't be full forgiveness. Depending on state it may be like 5k-25k but that's still huge. [link] [comments]  |
| Which should servicer should I keep: Navient or Great Lakes? Posted: 26 Oct 2018 09:11 AM PDT I have two student loans of equal amounts about to come out of grace period, and I can pay either (but not both) of them off entirely. One is serviced by Navient and the other by Great Lakes. Is there any reason to choose Navient over Great Lakes or vice versa? [link] [comments]  |
| Posted: 26 Oct 2018 09:02 AM PDT To begin with some background information: I am still an undergrad student, I graduate December 2019 [fall 2019], so two more semesters after this current semester. I have a job lined up with a company, my research concludes this job should pay on average $60-69 thousand annually not including commission/bonuses. This very moment in time I have this entire year paid for, this is my loan breakdown. Large loans: $20,246.00 at 4.5% interest -$18,396.00 at 4.5% interest - 20,828.00 at 5.3% interest [These loans are all from Texas College Access loans] Small loans [I am going to try and pay these off before I graduate, I currently work making $12 an hour plus bonuses and will also have a summer internship that is paid more then likely]. -$3,990 at 4.45% interest -$1,296.00 at 5.5% interest [These loans are directly from my university, given to me through OSLA]. I have a few questions! Firstly: If I begin paying off my small loans right now, will this start my repayment period early? As of now I am in the 6 month grace period obviously and will continue to be in this period until 6 months after graduation. -Good to note none of my loans are accruing interest right now as well Second: After graduation there will more then likely be another $8-10grand tacked on at that point via Texas Access loans as I do not make enough to pay for school by myself, How will repayment on these loans work? I am assuming by then I will have the two smaller loans gone. I want to pay off my loans ASAP, I will eat rice and beans every day if it takes that to just shit on these loans. What is a realistic time frame? -Other information! -My car is paid off -My parents cover my cellphone bill and have offered to do so until I pay off my loans -My health insurance is paid for by family atm, possibly paid for by company after graduation, regardless family will pay if not until I reach the age limit -I potentially will be able to live for free until loans are paid off with family depending on where my job needs me located [this isn't for sure though but I will live in the cheapest/safest area possible if not]. Can someone please give me advice? What to expect if everything continues the way it currently is, how aggressively I may be able to tackle these loans etc. I know that I am still a year+ out, and the job situation may change but on this current track i'd like to know where I stand. Thank you. [link] [comments]  |
| Posted: 26 Oct 2018 08:12 AM PDT Hi r/StudentLoans! So glad this sub-reddit exists. I need your help in selecting a plan. I graduated in May, but my partner is still in school and won't graduate until next year. Our 2017 adjusted gross income is $6,300. We are a family of 3, so all IDR payment options are $0. I hope to be working soon, and assuming a salary of ~$62,000 and some income from odd jobs earlier in 2018, I estimate that our 2018 AGI won't be higher than $18,000. Income will go up in 2019, perhaps to about $55,000. Our combined loans will be north of $300,000 and starting in 2019 our combined income will probably range between $50,000 - $100,000 for the next several years, depending on jobs we're able to get. Family size may or may not increase to 4. I'm currently deciding between REPAYE and IBR for my loans. My main priority right now is having the lowest payment possible for as long as possible, until our financial situation is more secure in the next year or so. I will likely qualify for PSLF for most of my career, so having access to that is important but not critical for the time being. I'm thinking IBR makes the most sense. Is that correct? While on IBR, can I make payments even if I'm required to make $0? Can I switch to REPAYE in the future if it ever makes sense to do so? Is there an option I'm not considering? Thanks so much for the guidance! 'ppreciate ya. [link] [comments]  |
| Can someone explain to me how my loan interest work? Posted: 26 Oct 2018 03:19 AM PDT Let's say for example that I had... Loan #1 - $5,000 @ 4% Loan #2 - $4,000 @ 5% Loan #3 - $6,000 @ 6% Total - $15,000 @ 5% (average) Would the interest compound separately for each loan or would it compound as a whole based on the average interest rate? [link] [comments]  |
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