Fast Way to Pay Off Consolidated Loans Student Loans |
- Fast Way to Pay Off Consolidated Loans
- 10yr Fixed 4.224% (3.974% with auto-pay) + $500 cash on $150k refi with SoFi
- I just submitted my PSLF application...let’s hope the 1 cent issue is resolved!
- My income driven payment plan drastically increased-- is there anything I can do?
- Defaulted on Student Loans. Where to go from here?
- Married, file jointly, want PSLF - IBR, ICR, PAYE, REPAYE?
- Upload to PHEAA?
- Paye to ICR?
- Granite State Management and Resources...help!
- Advice on paying back OSAP
- Cant Afford Parent Plus Loan Payments, out of options
- MyFedLoan Consolidation Payment Issues
- My husband's job has Student Loan Reimbursement, which conflicts with Great Lakes repayment plans.
- Junior soon to graduate, looking for some advice about repaying debt.
- Consolidating loans in both parents' names
| Fast Way to Pay Off Consolidated Loans Posted: 29 Oct 2018 07:03 PM PDT So I have $70,000 in student loan debt. I used a loan servicer to consolidate my loans for a decent rate 5.04% apr. That being said, I have am estimated 6 years to pay it off, but I decided I want to pay it off in about 3 years. What do you guys recommend? I already work full-time and can't pick up an extra work. [link] [comments]  |
| 10yr Fixed 4.224% (3.974% with auto-pay) + $500 cash on $150k refi with SoFi Posted: 29 Oct 2018 09:28 AM PDT After a couple weeks of back and forth with a number of lenders I was finally able to lock in what I think is near the lowest rate on the market and signed my documents today. I was able to get SoFi down to this rate after supplying them with approval TIL's from five or six lenders all far below the initial 5.7% interest rate they offered me. First Tech Credit Union offered me the second lowest rate at 4.02% (no auto pay option) Then ELFI at 4.32% Then KHEAA at 4.34% (I found them through Credible and I'm trying to get $200 fromCredible for the low rate guarantee) Then CommonBond 4.4% with a $500 cash incentive I applied to as many different lenders as I could all at once then kept leveraging the approval TIL's to drive rates lower. I have FICO of about 800 and income of about $150k. [link] [comments]  |
| I just submitted my PSLF application...let’s hope the 1 cent issue is resolved! Posted: 29 Oct 2018 07:58 AM PDT I posted a few months ago about how a bunch of my payments for my second loan (the unsubsidized loan) weren't counting because they are 1 penny short. Im 99% certain this is because my monthly payment was calculated off both loans together, and now they are calculating the minimum payment required on each loan individually. They told me it would take 120 days for a review. It's been more than 120 days, but I called them and they said they meant 180 days. Whatever. Last month I certified my employment and something interesting happened. They sent me an update agreeing that my employer qualified, but did NOT give me an update on the number of payments made and estimated eligibility date. The letter just said they will get that to me soon. I certified my employment again this month (for the final time hopefully!) and the same thing happened. I just submitted my forgiveness application. According the calculation they gave me 5 months ago, I should at least be done with the subsidized loans. I'm really really hoping that they haven't given me the payments made/eligibility calculation because they are elevating the 1 cent issue and I'm hopeful it will be resolved on its own. Until then, my loans are in forbearance!! [link] [comments]  |
| My income driven payment plan drastically increased-- is there anything I can do? Posted: 29 Oct 2018 03:55 PM PDT My federal student loans through Great Lakes are currently set up as an IDR. I've worked a couple different jobs the past few years, but I've made basically the same (give or take $1,000), and my IDR has been about $15 a month. Well, last October I got married. My husband makes slightly more than me, and we filed our 2017 taxes together. My IDR renewal date is tomorrow. I of course submitted that paper work in September and didn't hear ANYTHING back. Just called them, and the lady on the phone said my payment this year are going to be $191 a month. That is significantly more than I was paying. And honestly... I can't afford that. Is there anything I can do? I'm pretty new to this community. I don't know if there is anyone here who is terribly judgmental. But yes, right now $200 is too much. We're struggling to afford the $300+ per month asthma treatments for my husband, and I have a kidney stone that I can't go to the doctor for because we can't afford it. I'm tired of dealing with the mistakes and choices I made when I was 17 years old. [link] [comments]  |
| Defaulted on Student Loans. Where to go from here? Posted: 29 Oct 2018 03:20 PM PDT I posted before but deleted it and thought I would repost once I looked up some more info. I have more or less kept my head in the sand on my Student Loans totals since I graduated. I'm not here to defend or excuse that action - it just is and now I'm trying to figure out how to get above water. I have both Private and Federal defaulted Loans. Federal Loans: These were just recently transferred from ED to Pioneer Credit Recovery. Principal is $49,484.13 Interest is $15,638.99 Total is $65,123.12. I don't know the interest rate. The amount she told me on the phone was also about $12,000 higher than the ED letter dated 10/25. Private Loans: Two loans with a total of $24,487 (interest totals $4,080.17) And two higher interest loans totaling $28,528 (interest totals $7,285). — I have heard nothing from the Private Loans in default. The letter from ED I received on Friday. The first payment option she offered me was $500 per month for 20 years. Then we went through my income and expenses and came up with like $250 per month. So my first question is: if I keep pressing them, will they agree to a lower amount or is it truly 50% of "disposable" income or bust? And "disposable" income doesn't take into account things like regular savings, retirement savings, etc? I honestly feel like I'm looking at throwing money at these loans for the rest of my life. I don't know what else there is. But I'm getting married in a little less than a year, we want to have kids, and I really want to do the right thing as best I can (yes my future husband knows about this debt). I don't see a future where these loans are paid off but at least I can try to get out of the darkness of loan default. I have more than just myself to think about now. -it sounds like I should work on getting the fed loan out of default FIRST? -I do not have any co-signers on my loans; could any family members be held responsible for my debt? I make about 50k (yeah, you read that right) and don't have any other debt (ha). My credit history ASIDE FROM THIS is not problematic. My FH had a small student loan that he's almost done paying. Any advice or pointers are appreciated. It is fucking criminal that I could take out this many loans for school. But alas, personal responsibility and all. Thanks everyone. [link] [comments]  |
| Married, file jointly, want PSLF - IBR, ICR, PAYE, REPAYE? Posted: 29 Oct 2018 12:10 PM PDT I'm married with one small child - less than 5 YO. Wife is a stay at home mom with approximately 20K in undergrad loans. Her loans are in IBR with a temporary forbearance until I start work. Wife's provider is Great Lakes. I have 90K in graduate school loans - different loans in different groups with a variety of interest rates ranging from 5.3% up to 7%. None of mine are currently due. All of them are either in grace period or post enrollment deferment. All of mine are direct public government unsubsidized loans. Half come due in December and all will be due by January. My provider on all loans is Edfinancial. Our current combined income is very low - I'm currently waiting to start my first post graduation job next month. The job I will have will definitely qualify for PSLF which is what I want to do obviously. I want to go ahead and get my loan payment on some kind of income driven model even before I start my job - though I know that won't affect PSLF (I think). What should I do re: -pre-job PAYE, REPAYE, IBR, ICR? -post-getting job - PAYE, REPAYE, IBR, ICR? Especially in regards to making sure I'm on track for PSLF. -wife's loan - standard, income driven, etc? -wife's loan - don't think we want to consolidate at present but is it worth looking into? -taxes - filing jointly or separately? Or doesn't matter? [link] [comments]  |
| Posted: 29 Oct 2018 06:46 PM PDT I have to manually re-certify, does anyone know a way to upload to PHEAA (Pennsylvania Higher Education Assistance Agency)? I've searched all over with no luck. If there is no uploading, is faxing okay? [link] [comments]  |
| Posted: 29 Oct 2018 02:54 PM PDT So I'm currently on PAYE and working towards PSLF. I have about 3 years of qualifying payments. I have 46k in direct loans and my wife has 60kish. We both qualify for PSLF and are actively working towards it. Our AGI is 93k. I was under the impression that PAYE would be the lowest payment, but ICR looks to be about the same right now and according to the calculator will be about 200 cheaper in a few years. Does that sound possible? Would there be a downside to swapping to ICR. [link] [comments]  |
| Granite State Management and Resources...help! Posted: 29 Oct 2018 05:56 AM PDT My husband has a loan through Granite State Management and Resources. He went to go get a car this weekend and found out GSMR had reported a delinquency and said he's paid -4% of his loan. His credit score dropped 100 points. Well, he's been paying his loan via autopay for over a year. The money has been coming out and go to them. We didn't get any phone calls, emails or mail notices of any issues. We couldn't call over the weekend because they're closed. Now he can't get a car and we're in shock. My husband is going to call during his lunch break to try to figure this out, but has anyone had any experience with them? [link] [comments]  |
| Posted: 29 Oct 2018 05:09 PM PDT I need some advice on paying back my OSAP student loan. I finished my BA degree in June and just got the letter saying I need to begin paying back my OSAP. I didn't have a job until about a month ago so I was accumulating interest until now. My income is around 48K and my OSAP loan is a total of 26K. I am also planning to do my Masters next year which will cost a total of 20k. I need some advice as to how much I should contribute to my OSAP and save for the next two years. I can probably put down a lump sum of 8 grand by the end of this month but I'm getting kind of worried about interest. Should I pay OSAP as quickly as possible? [link] [comments]  |
| Cant Afford Parent Plus Loan Payments, out of options Posted: 29 Oct 2018 09:10 AM PDT My mom has 30k in parent plus loans, already consolidated and under ICR. She only makes 26k and doesn't have great or even fair credit, and has no assets beyond a dismal retirement account. She can't afford $265 a month, and I can't afford to pay others either for her. I've requested forbearance before and was told it would be in yearly increments, up to 3 years. Went to reapply for her and it's now saying after 1 year forbearance it'll only give her 3 months. What can she do? What will happen if she defaults? [link] [comments]  |
| MyFedLoan Consolidation Payment Issues Posted: 29 Oct 2018 09:02 AM PDT Hey All, Recently, I decided to consolidate my student loans through CommonBond. My private loans went through fine but the loans serviced through MyFedLoan can't seem to get it correct. The check was cashed 9/10/2018 and has still yet been applied to my account. I have called 6 times yet they still can't seem to get their story together. It amazes me that they can't seem to get their shit together. Has anyone else experienced this? I wish there was someone to report this to but obviously there is nothing I can do on my own. For someone handling roughly $20K, I would expect the customer service to be a little better. For a check to come in with my name/account number on it and it not be applied to my account BUT STILL BE CASHED is insane. [link] [comments]  |
| My husband's job has Student Loan Reimbursement, which conflicts with Great Lakes repayment plans. Posted: 29 Oct 2018 07:54 AM PDT My husband works at Nvidia. They offer monthly payments directly to his student loans as part of his employee benefits. When he first set it up, we stopped our own auto payments to Great Lakes as we thought they would be taken care of by Nvidia. However, since the loan was not technically being repaid through Great Lakes, Great Lakes started declaring our payments as late, so we started paying ahead on the loan through Great Lakes to stop them from potentially affecting our credit. However, since Nvidia had been keeping track of the balance on the loan, they saw that we had paid ahead and stopped sending direct payments to the loan. How can we continue receiving the benefit through Nvidia while also keeping our credit status with Great Lakes in good condition? He tried to call Great Lakes and explain that his job was in fact making monthly payments on the loan, but they didn't seem to understand the concept. Sorry to be speaking for my husband, in a sense. He's been so busy that he hasn't had time to figure this whole thing out, so I thought I'd ask you guys. [link] [comments]  |
| Junior soon to graduate, looking for some advice about repaying debt. Posted: 29 Oct 2018 09:57 AM PDT I apologize in advance if this is nothing new that you are seeing, but I was just hoping for some relevant advice. I am currently a junior in college, and based on my current path, the only debt I will have after college is what I will owe fafsa, so less than 25k I believe. Now, I wanted to know how repayment works with them, what are some of the best plans to pay them off, and if there is any way that I, hoping to be a future teacher, could maybe have a lower interest rate or have to pay back less money. Any and all help appreciated. Thanks! [link] [comments]  |
| Consolidating loans in both parents' names Posted: 29 Oct 2018 09:29 AM PDT Each of my parents took out parent PLUS loans to finance my education, I am paying them. My parents want to lighten the load and encouraged me to see if there is anyway I can decrease the monthly payment. Right now I have about 15k in my dad's name with Navient and 55k in my mom's name with great lakes. They are married. The monthly payment between the two is about $500. Can these two loans be consolidated even though there in different names? I tried to explore repayment options on the Navient site and the basically said they can't do jack because the principal in under 30k. For Great Lakes I'm aleady on the extended, graduated schedule. [link] [comments]  |
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