Just refinanced, saving $400+ per month in interest! Student Loans |
- Just refinanced, saving $400+ per month in interest!
- Healthcare provider forgiveness question
- How would you approach these student loans?
- Looking for advice on refinancing
- Options for refinancing?
- Need a lot of help figuring out how to apply for student loans?
- Perkins Loan not consolidated, now I’m delinquent. Any advice?
| Just refinanced, saving $400+ per month in interest! Posted: 27 Oct 2018 11:15 AM PDT So excited to create this post. I'd love to answer any questions anyone has about refinancing with First Republic Bank. I recently moved to the SF Bay Area to start a new job, and I knew that would place me in a location where FRB has a local branch. To refinance through FRB, you have to be located near a branch. The day after I started my job, I contacted FRB to refinance, and less than one week later a check was sent out in the mail to pay off my former student loans. My rate was 3.95% for a 15 year term, although I could have chosen 3.5% for a 10 year term. I'm also excited by the fact that FRB will give me back nearly $2000 in interest as long as I pay off the loan within 48 months. I'm sure going to try. I was setup with a personal banker who walked me through the whole process, and they helped me setup an account at their bank, which is actually useful to me because I live within walking distance of the branch. Some things people should know about refinancing with FRB: - The loan is now a personal loan, not a student loan, so you're no longer eligible for income-based repayment programs - 3.95% was my rate -- I'm stoked about this! My calculations show I'm saving a ton in interest. - You have to live in an area where FRB has a branch (California, New York, Massachusetts, Florida, Oregon, Wyoming) - You have to deposit 10% of the loan amount in cash in a checking account, and keep it there (thankfully I could do this) - You have to move your employer direct deposit to their account (fine by me) - Any questions just ask me, either here in the thread or by PM! Also, they offer an account opening bonus of $200 by referral only -- as far as I know there is no public offer. If you'd like the $200 opening bonus just PM me and I'll give you my full name to give to FRB (they just ask for my real name). [link] [comments]  |
| Healthcare provider forgiveness question Posted: 27 Oct 2018 06:15 PM PDT I'll be a women's health nurse practitioner in December 2020 and am already thinking about ways to become debt free as quickly as possible. Thankfully, many states have loan forgiveness programs for providers that work in rural hospitals as well as programs for teaching. I'm trying to find out if there's a limit on how many of these forgiveness programs I can be in at once. Is there anything stopping me from being in say, a rural hospital, teaching a clinical course and the Public Loan Forgiveness Program? TIA! [link] [comments]  |
| How would you approach these student loans? Posted: 27 Oct 2018 05:32 PM PDT I'm 25 and still live with my parents, who fortunately are helping me out on my loans. While paying them off, I'm also trying to save up to buy a condo with my gf in a couple years. I make 40k a year in my entry level job while living at home. I have $8,000 in my savings account... Here are my loans.. SALLIE MAE $27,261.22 - 11.5% interest ($390 minimum payment monthly) $20,142.60 - 10.625% ($243 min.) $11,426.84 - 11.375% ($163 min.) $11,289.87 - 11.625% ($163 min.) NELNET $5,971.07 - 3.15% $3,807.09 - 6.55% $4,170.37 - 3.61% $4,133.38 - 4.41% (minimum payment is $193 total per month, I have an auto debit of $272) As you can see, the Sallie Mae balances and interest rates are ABSURD, but I also want to get the NELNET ones out of the way so I can focus on killing the Sallie Mae ones. How would you approach these loans with my financial situation? Note: I've tried refinancing and have gotten denied because of one late payment two years ago, and my debt to income ratio is too high... Should I throw a lump sum at them? Should I just focus on paying the minimum until I save up for a condo? I'm at a loss right now. Thanks in advance for any helpful answers. [link] [comments]  |
| Looking for advice on refinancing Posted: 27 Oct 2018 08:39 PM PDT I have right around $46,000 in private loans through Wells Fargo I want to refinance. For several reasons, I really want to get out of dealing with the bank and have looked at SoFi, Earnest, etc. What are your experiences, good and bad, with these agencies? Any opinions on which ones are "best" to deal with, or are they all pretty even other than the rates they offer? I don't want to apply with multiple companies because of how that affects credit, so I appreciate any input and advice! [link] [comments]  |
| Posted: 27 Oct 2018 02:10 PM PDT I currently have 92k in private loans with a 11.6% APR that I want to refinance ASAP. My credit isn't very good, ~630, and I have only been employed for 4 month(graduated in May, ~60k salary). I'm wondering what my best options are. I'm pretty sure I qualify for Navy Federal Credit Union and am thinking about opening up an account with them for daily usage. Will brick and mortar credit unions give better rates than the popular websites like SoFi? I understand the only way to find out for certain is to go in and talk to them, but I'm just curious. With my credit score and current amount due will I even qualify to refinance? What is the best way to get my credit up? Am I able to refinance a portion of it or does it have to be all at the same time? [link] [comments]  |
| Need a lot of help figuring out how to apply for student loans? Posted: 27 Oct 2018 05:54 PM PDT Hi, I'm new on the sub. Was going to post in PF but this sub seems more specific. I'm a 19-year-old art student at a private college in NYC. Obviously I can't afford it and now I have to start taking out loans. It's about 20k a year with financial aid. I know I have to look at low interest but I actually have no idea where to even start, so I'm wondering if anyone has any suggestions or warnings about specifc lenders...Any advice would be much appreciated. [link] [comments]  |
| Perkins Loan not consolidated, now I’m delinquent. Any advice? Posted: 27 Oct 2018 11:20 AM PDT I'll start by saying I have an anxiety issue and so I may be freaking out way more than I should, but of course it's Saturday and I have two whole days to wait to talk to someone at the school about this. Ok: I have mostly direct loans that have been consolidated for around three years, with Navient. According to their website, I have 25% of my loans paid; they're auto-drafted, everything gets paid every month. This morning I got an alert from my credit card to a change in my credit report. My school (which I left in 2014) had reported a delinquent account which I had no idea about because I thought all my loans were consolidated. I did some more digging on student loans.gov instead of Navient and I see a Perkins loan for $2k that entered repayment on 7/2/2018 (which I don't understand since I left school 4 years ago.) and that's that. I also had an email buried in my inbox from July saying that my school had tried to contact me about my Perkins loan, but my mail was undeliverable; I have gotten at least one mailing a quarter from my old department, so I know they have my address. I'm just mad and frustrated and anxious as hell. The delinquent report knocked my credit down by 75 points, all while I've been over here thinking I've done everything right. Has this happened to anyone else? From what I can see, my Perkins loan was eligible for consolidation, so I have no idea why it didn't get consolidated it the first place. I plan to call the school on Monday and see what I can do - I can't pay the full $2k, but if I make a payment can/should they remove the delinquent report to my credit? That's what I'm most worried about now. Thanks in advance for the help! [link] [comments]  |
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