One Down - Many More to Go Student Loans |
- One Down - Many More to Go
- Do student loans get passed down to your kids?
- Paying off 150K+ in student loans? (Direct and Unsubsidized)
- What are my options for private loan
- Question for fellow teachers
- Should I refinance my student loans?
- Student loan interest lowering my credit score
- Sallie Mae FICO Score
- A quick question on when my first payment will be due
- I’m in grace period and made my first payment. Why is my statement telling me I’m paying interest?
- PSLF
- Need help finding when my grace period ends
- PAYE vs REPAYE just for a few months?
- I owe $6,000 in student loans.
- Paying off my SL, Moms PP loan, and Aunties PP loan they took out for me.
- PSLF - part time
| Posted: 30 Sep 2018 12:17 PM PDT Hello everyone, Obligatory long time lurker, first time poster. I can finally, and happily, say that I've made some progress on my student loans. As of midnight tonight, I'll have paid off my first loan. Originally $3000, I got it down to $2500 (and snowballed the remainder while doing so) and made a lump sum payment. My original balance on my loans was $35k and change. This is but one small step towards finishing off my loans, but you all give me inspiration to keep pushing. $32k left, I'll see you at the end of the tunnel! [link] [comments]  |
| Do student loans get passed down to your kids? Posted: 30 Sep 2018 08:25 PM PDT Hi so I'm a 17 year old about to enter university and I just wanted to ask some things before I make some bad decision So thankfully I live in a very privileged place and my parents do make a lot of money but they, my mom in particular, also have a ton of debt. The thing is, she's a dentist and she used loans to finance her dental school and it has payed off, and she does make a lot of money now, but she still has around $250k debt in student loans. The idea of loans seemed too risky for me to begin with which is why I spent my last two semesters at community college before hopefully being at my university in the spring. I'm planning to graduate early too to reduce debt even more. But I'm still kinda worried. Is there anything I should do? In total, my university will still be around 50k total and my parents said they'll help me but what about them? They don't seem very eager to pay off their debt, just paying the bare minimum every month and using the money on other things. Will it become my responsibility soon? Any advice in general? Thank you [link] [comments]  |
| Paying off 150K+ in student loans? (Direct and Unsubsidized) Posted: 30 Sep 2018 10:35 AM PDT Recent graduate. I'm a total noob in personal finance. I have around 150K+ in student loans split between Direct Grad and Direct Unsubsidized via EdFinancial. The interest rate is around 6-7%. So basically, I'm accumulating $30 per day in interest, approximately... I've been using the repayment plan because I hit some career struggles after graduation so, I'm only paying around $20 per month now. This means my total debt is literally increasing by $900+ per month. Can someone provide some basic advice on what I should do? - I've heard that after 20+ years or so, there is loan forgiveness? But I have to pay off the balance as taxable income? - Do I refinance my student loan with something like SoFi? [link] [comments]  |
| What are my options for private loan Posted: 30 Sep 2018 09:46 PM PDT I have to take out a private loan as I've maxed out my FAFSA. I hear a tone of mixed messages about Sallie Mae, which is who my school referenced because discovery student loans doesn't cover my school. I would be able to pay if off early and in fact within a few weeks. I am coming into money from a class action but don't have the 2k that is needed for me to be able to start my classes. Sitting out to save up the money isn't really an option I'd like to resort to as I am 4 classes away from being done with my BS. Given my situation would Sallie Mae be my best bet? Is there other options I might not be aware of? Any advice is helpful! Thanks in advance! [link] [comments]  |
| Posted: 30 Sep 2018 05:50 PM PDT I'm a graduate student finishing my program in December. After graduating, I plan to teach in a low-income school district in order to qualify for one of the two teacher loan forgiveness programs. I have a decent amount of interest accrued already, and people have recommended that I start making some payments towards the loans with the highest rates. But does it make sense to pay off this interest now if I could get my remaining balance forgiven down the line? Or would it be in my best interest to make as little payments as possible until the forgiveness kicks in? Depending on the plan forgiveness could take 5 to 10 years of income-driven repayment. Thanks for the advice! [link] [comments]  |
| Should I refinance my student loans? Posted: 30 Sep 2018 07:29 PM PDT Hi all - I need some help trying to figure out if I should refinance my student loans through a service like SoFi. Right now I'm sitting on about $225k of loans (undergrad and grad school), at various interest rates ranging from 4.5% to 7%. For the next year, I'll be making $190k, then the year after I will be making about $75k. I have been planning to throw about $4k a month towards my loans for the next year - any amount over my monthly payment going towards the 7% loan - and then dropping down to just my monthly payment (on a 120 month plan) when I stop making as much money. I'm nervous to refinance because of the protections that I will lose once I do, and I don't how much of a rate reduction I will be able to get with this kind of debt load anyway. Basically, I'm just looking for any compelling reasons to or not to refinance that I have not considered. TIA. [link] [comments]  |
| Student loan interest lowering my credit score Posted: 30 Sep 2018 03:26 PM PDT Hi all, According to my credit karma report my student loans gaining interest while still in school has lowered my credit score. Has anyone else experienced this? From everything I read student loans shouldnt really be lowering my score but on Credit Karma it is saying that the interest building makes it look as if I didnt pay them but they are on in school deferment. Has anyone ever heard of this? [link] [comments]  |
| Posted: 30 Sep 2018 07:05 PM PDT Does anyone here know just how accurate the FICO Score offered by Sallie Mae is? I know there are 3 major FICO scores out there to base your credit on. But just trying to gather some more details on things. Thanks. [link] [comments]  |
| A quick question on when my first payment will be due Posted: 30 Sep 2018 03:01 PM PDT Hi all, My last day of school was May 11th, 2018. This sets me up for November 11th of this year as when my grace period ends. Does this traditionally mean my first payment will be due November 11, or does this mean billing period #1 will be November 11th (So payment #1 is due ~Dec 11)? Thanks! [link] [comments]  |
| I’m in grace period and made my first payment. Why is my statement telling me I’m paying interest? Posted: 30 Sep 2018 06:12 PM PDT My first student loan payment just went through. I'm using nelnet to repay my loans, if that matters. I paid about 1,000 dollars. On my statement, it says about 200 dollars went to the principal and about 800 went to interest. If I'm in the grace period, why would it be saying I'm paying so much interest? I'd call them but they aren't open until tomorrow! [link] [comments]  |
| Posted: 30 Sep 2018 08:37 AM PDT Hi there. I have some questions about some loans I have from my undergraduate degree and don't know where to start. I have 2 direct loans (one subsidized, one unsubsidized) that I consolidated way back in 2000, and have been on an extended repayment plan since then. I have never missed a payment or had a late payment. I have consistently worked full-time for PSLF qualified employers since 2007 (2005, actually.) One was state government and the other is a state university. I did some brief research on PSLF and thought I might not be eligible because I've been on an extended repayment plan. The other repayment plans did not yet exist back when I consolidated. It seems I might become eligible for TEPSLF? From what I'm reading, it looks like step 1 for pursuing that is applying for PSLF using the employer forms and getting denied because I'm not on a qualified repayment plan. Here's the complication that worries me: I'm in grad school and have been in deferment for a few years. I've still been making small payments every month, but I understand these payments probably do not count toward the 10 years of payments. I'm prepared to cross my fingers and make however many more years of on-time payments I would need to make to get to 10 years of qualifying payments. I feel like I've got at least 7 years of qualified payments. If I apply for PSLF, is currently being in deferment going to mean they reject me because of being in deferment, rather than because of my repayment plan? Would a rejection from PSLF for the "wrong" reason prevent me from applying for TEPSLF? Or should I just wait until I've graduated and am out of deferment to pursue anything and hope these programs are still around? [link] [comments]  |
| Need help finding when my grace period ends Posted: 30 Sep 2018 02:25 PM PDT I graduated on April 27th. Does my grace period end and payments start on Oct. 1st, Nov. 1st, or Oct 27th. [link] [comments]  |
| PAYE vs REPAYE just for a few months? Posted: 30 Sep 2018 01:50 PM PDT Hi, I've been trying to do my own research but I'm still unsure of what to do. My grace period for my student loans (50k) ends tomorrow. I'm halfway through medical school, and won't be back in school full time until January. That leaves about 2-3 months of loan payments. I have no job and make $0 income. It seems like PAYE and REPAYE are my best options. Is there any benefit for me to doing one or the other, due to my somewhat unique situation? Or am I overthinking it and it doesn't matter what I do since its only for a few months? I was just worried that a poor decision I make now might affect me negatively a few years from now when I actually start working with income. Thanks for the help! [link] [comments]  |
| I owe $6,000 in student loans. Posted: 30 Sep 2018 09:54 AM PDT I initially only borrowed 4K in student loans but the interest is definitely adding up. I'm trying to build my credit... My question is should I pay off the student loans completely or pay the balance down to like a few dollars and leave it open so the average age of credit history on my account is continuously growing? Any advice would be great. Thank you. [link] [comments]  |
| Paying off my SL, Moms PP loan, and Aunties PP loan they took out for me. Posted: 30 Sep 2018 05:45 AM PDT So I graduated with undergrad with 31k in debit I graduated with a degree in SBS. I loved my program so much it made me who I am and I don't regret it. At the same time I didn't get a lot of scholarships or grants because as a first generation college student I didn't know what I was doing. Currently, I have 41k in student loans that's including my masters MSW in which I graduate from next spring. However, because my mom and aunt took out parentplus loans for me. I count their loan as mine and have been paying them off/ignoring mine while in grad school making very very little. Thankfully with team work and help from my mom we paid off out my aunts loans. Combined together me and my moms loans is around 75k. The amount I'm putting towards her loans while in school now making 400 a month is pocket change. Anywoo after grad I'm projected to make 45-50 as entry. I've calculated how long it will take to pay off both our loans etc living with her/ living with roommates. Living at home is really not the best situation for me . But overall if I live at home and throw most of my salary at loans I won't have enough or any to throw to my 401k/retirement etc or save. But I could pay one off in 3-5 years. On the other hand, living with roommates it would take me longer plus I've never lived outside of my home. I don't know what to do I'm already very cheap and I know I can be debt free one day hopefully before 35. I'm only 24 but I'm thinking of working two jobs when I graduate to bring extra income. Any insight would be helpful. [link] [comments]  |
| Posted: 30 Sep 2018 09:00 AM PDT Hi, I'm a doctor with 150K in student loan debt. I made 6 years of qualifying payments during resident and fellowship. I am now considering a job with a nonprofit, however I have the choice between going full time or 80% part time. Its my understanding that if I take the part time job I will not be eligible for the forgiveness (even though I will work 35 hours per week average). My questions are:
Thanks in advanced. [link] [comments]  |
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