REPAYE/REPAY PSA Student Loans |
- REPAYE/REPAY PSA
- Looking for advice. Received new loan repayment of $1,080 for next 12 months under IBR. Realized I made a terrible decision to file our taxes married/jointly. Fed loan took the combined adjusted gross income. Is there anything I can do at this point?
- Private Loan in default limbo
- IBR and maternity leave
- Refinancing Parent Plus Loans
- Defaulted Rehabilitated Student Loans
- Nelnet payments not going through.
- Moving from government employer to private company: what to do about plan recertification?
- Question about student loans & tax filings
- Relatively small student loan--trying to find the best way out of default
- PSLF and loan consolidation question
- Should I put my loans on the back burner?
- Law School FAFSA Question
- I am a University student and i could have been overpaid this year or under paid last year and i`m not sure which one seeking advice. (UK)
- Borrowing more in subsidized loans than I need - is this a bad idea?
- Rehabilitation Question
- Loan repayment spreadsheets
| Posted: 01 Oct 2018 12:01 PM PDT Your repayment is calculated based on AGI. You can lower your AGI, and hence your payments by contributing more to your IRA/401K. [link] [comments]  |
| Posted: 02 Oct 2018 01:13 AM PDT Recently received a new monthly repayment plan (under IBR) of $1,080 per month due for the next year. I submitted all the tax info needed to get re-certified under Income Driven Repayment plan. From the 2016 - 2017 year, my husband and I made an AGI of approx. $127,000. I feel like an idiot for filing jointly :*( I was on maternity leave from March - September, so I wasn't getting paid from my company these past 5 months and dipping into savings in order to keep afloat. When I saw my new amount due of over $1,000/month...I got on the phone and spoke to at least 4 different Fed Loan service reps. The first one said there was nothing I could do since I already submitted all required tax/income docs. Another rep told me to file taxes separately next year but that there was nothing I could do at this point since I already submitted all docs needed. The last rep I spoke to told me that if I had re-certified during my maternity leave, I could have submitted my wages from EDD and they would have based my new IBR payment off of this...does anybody know if this is really possible? I was only paid 60% of my income for approx 11 weeks (State of California). [link] [comments]  |
| Posted: 01 Oct 2018 10:11 AM PDT Twp of my largest Wells Fargo private loans went into default while I was unemployed this year, and I was in communication with WF throughout this time period. I didnt qualify for any deferment, forbearance, or any help so as instructed, I sent out any money I could. I sent them the last amount at the beginning of August and they took it (I can tell from the bank). I finally got a full time job 4 weeks ago and I wanted to immediately get back on track paying my debts. These two loans are about $60k, and my ailing mom cosigned them. So, Im trying to keep them from further destroying her credit. I havent received any notice/call from them now since end of July. My account is locked so I can't check it online or pay online. I keep calling them to pay them but they keep redirecting to different departments who do not have my account. They are not telling me anything. I had one other previous Wells Fargo loan go to collections and I had a judgement brought against me that I lost in court. I pay a separate amount to a WF appointed law firm on that account, I found out yesterday that WF has been sending my payments for two larger loans to this other one rather than applying it to my loan that I'm desperately trying to get out of default status. I feel like they are forcing a charge off that I cant afford.. Can they do this? Am I beyond help at this point? When the other loan was charged off to a lawyer, this guy bypassed me and served my mom and threatened to garnish her wages.. so I wanted to avoid this kind of scenario from ever happening again.. Ive got other federal loans too that I have to pay.. I am in hell with this situation. Cant win at all.. And I'm not even making the kind of money yet that I hoped would make me able to pay these guys off and support myself.. Any advice? [link] [comments]  |
| Posted: 01 Oct 2018 01:35 PM PDT Does anyone have experience with IBR adjustment while on maternity leave? I've been on IBR for 5 years now and just started my 3 month maternity leave. I'm paid 60% of my salary via disability for half of my leave and unpaid the other half. When I recertify can I say my income is zero although it will only be for a month? (I'm guessing no...). [link] [comments]  |
| Posted: 01 Oct 2018 08:31 PM PDT Hi all, I need some advice! Currently I have a parent plus loan Navient and I've been looking at consolidating it because my parents don't want to be attached to it at all (understandable). I've checked my rate through pretty much all the websites I could find, they all gave me about the same monthly rate, but the one I'm considering is Laurel Road. The only thing is, the monthly rate is so high, like I don't know how I'm going to pay that and my rent high. Because the loan is under my parents name I'm not eligible for a plan based on my income. I really don't know what to do and there aren't a lot of people in my circle with a similar dilemma. Any advice is appreciated! More info: I owe $80,000 on my Parent Plus loan and $25,000 on another. I'm expected to pay $670 a month after refinancing the Parent Plus and the $25,000 loan is at $257 a month ($91 after income driven plan). [link] [comments]  |
| Defaulted Rehabilitated Student Loans Posted: 01 Oct 2018 04:37 PM PDT I'm in the process of cleaning up my credit from my youth. Recently I came into funds that will allow me to pay my federal student loans in full. Being that I already defaulted the rehab program, would it be best for my credit score to pay it in full? Or do I have other options available to me? I understand my options will most likely be limited but any advice would be of great help. [link] [comments]  |
| Nelnet payments not going through. Posted: 01 Oct 2018 06:24 PM PDT I'm still in school and my dad is trying to get a head start on paying my parent plus loans. He made the first payment back in June but then when we made the payment in July for some reason the payment didn't go through, my dad's checking account wasn't charged so it's not too big of an issue and we were able to make the August payment without a problem. He made the payment for September on the 27th and it hasn't gone through again. Is this a common problem with Nelnet? [link] [comments]  |
| Moving from government employer to private company: what to do about plan recertification? Posted: 01 Oct 2018 05:55 PM PDT All my loans are federal. For the past few years I worked for a city agency and was on REPAYE, working toward PSLF. Some months ago I took a job with a private firm, making nearly double my old salary. I will need to recertify in January, but I don't want to send a paystub from my new job to FedLoan, because they'll increase my payments commensurately. I want to wait for my tax return, and recertify using that, because it will reflect that I made my old salary for half of 2018 and my new salary for the other half of 2018. Thus, FedLoan will not increase my payments to match my new salary (the payments will still go up somewhat, of course, just not as much). Waiting for my tax return, however, means that I'll have two to four months, between January (when my recertification is due) and April (tax day), where I won't be recertified, and FedLoan will instruct me to make full payments. Should I (A) Embrace the pain and make high payments based on my new salary by recertifying in January with a paystub, or (B) Ignore FedLoan's recertification requirement until I get my tax return and continue making payments based on my old salary, while running the risk that they report me to the credit bureaus, or (C) Make full payments until I get my tax return, and then recertify with the return, or (D) Your own intelligent, well-meaning suggestion? Please let me know if I can clarify anything; I've tried to write this post a succinctly as possible. [link] [comments]  |
| Question about student loans & tax filings Posted: 01 Oct 2018 12:37 PM PDT I have a detailed question regarding tax filings and student loans. I'm hoping someone will be able to answer with knowledge of both taxes and student loans... Currently, my husband and I both have student loan debt from graduate school - we both have degrees in healthcare. We've always filed our taxes married filing jointly. He currently pays his student loans under the REPAYE program, whereas I've been enrolled for 3 years now in the PSLF program. We recently had a baby and I am going back to work part-time, but next year I will drop my hours to a casual status to stay at home with our baby. This works out better for us, versus paying for daycare. I will be working an as-needed basis and therefore we really cannot rely on my income because it will be sporadic and not guaranteed. I work for a non-profit healthcare organization and I DO plan to return to work at some point, but I'm not sure when that will be...in a few months, years, etc. I spoke with 2 loan counselors, who informed me that I can put my PSLF loans on hold (deferment or forbearance) while I'm not working & then I can resume payments again (still in the PSLF program) at a later point. Of course this will delay my loan forgiveness, but they reassured me I can pick back up where I left off. I also understand that interest will continue to accrue. My husband will be the sole person working next year. So my main question is - with me staying at home and my husband working and us both having student loans, would it better for us to file our taxes jointly or separately for future tax seasons 2019 and beyond? Taking into consideration my loans being on hold, and his being paid. I was told by someone that it might be a good idea for him to switch to the PAYE program next year, and for us to file our taxes separately in order to get a lower student loan payment. But I know that filing taxes separately also has some negative factors. Just trying to outweigh the pros/cons of both options. Thanks!! [link] [comments]  |
| Relatively small student loan--trying to find the best way out of default Posted: 01 Oct 2018 11:32 AM PDT So I have about $6500 in student loan debt, all one loan, sitting in default currently. I want very much to get out of default as quickly as possible and get myself back to school. My loan servicer, National Credit Services, is very aggressive when I have spoken with them. I don't understand why, since I've contacted them in order to try and get out of default, which it seems like they should be into? But I've found it incredibly difficult to get information out of them about my options. I have looked at the fafsa/student loans gov site, which says that rehab takes 9 months, which is obviously rather longer than I'd like to wait. My other option appears to be consolidation, at which point it seems, from what I've read, I come out of default and can then utilize options such as deferrment to return to school? Really, I'm just trying to figure out everything I can before I make a final decision, and my loan servicer has not been helpful. What do? [link] [comments]  |
| PSLF and loan consolidation question Posted: 01 Oct 2018 02:46 PM PDT What if I consolidated my loans before I started making qualifying payments and had qualifying employment for PSLF? Is the problem you just can't do so while participating in the program? [link] [comments]  |
| Should I put my loans on the back burner? Posted: 01 Oct 2018 02:38 PM PDT 135k in private refinanced loans at 4.55% with a 130k salary. Mortgage is 197k at 5.0% 30 year fixed. 13k short of 20% LTV HSA, already maxing. Doesn't it make more sense to Max my 401k and Roth as opposed to paying down my loans. I can get a better return AND a tax advantage. The reason I ask is because everyone talks about squishing loans but I don't see why that should come first? [link] [comments]  |
| Posted: 01 Oct 2018 08:18 AM PDT I'll be attending law school next year and will need to fill out the FAFSA for loans. I was wondering if I should list my parents' incomes even if I'm filing as an independent (I'm under 24). They won't be paying for any of my law school, which makes me think I shouldn't report it. Thanks. [link] [comments]  |
| Posted: 01 Oct 2018 11:22 AM PDT hello, I am doing my 4th year at university and last year 2017/18 there was problems with my student finance which means i did not receive a grant (which i do not have to pay back) last academic year when i questioned student finance about this at the time they requested a tax return 2016 from my parents to which they did not return citing because my (younger) brother dropped out of university and only having one child at university my separate claim would be affect what this has lead to that i have to repay about £900 this year being taken off the amount given to me this year and missing a grant last year. However this year they have not requested any paper work or any addition information from previous years or sources and this year I am receiving more than last year as well as the grant I was missing last year this had caused a lot of confusion as my brother is not in university still so I cannot think of a reason why my money has returned back to what it should have been. I feel like I could pursue this seeking a answer but my parent are adamant for reason unknown to me they are noting doing any back tracking for forms to show proof and they are of the belief that my money will reduce like last year but I'm of the opposite option that because no other forms/information have been asked of me that i could reclaim the money that could have been own by me which would help with some budgetary strains this year. So is it with my best interest to ask and chase up student finance in the hopes for this to end in my benefit? [link] [comments]  |
| Borrowing more in subsidized loans than I need - is this a bad idea? Posted: 01 Oct 2018 11:13 AM PDT Hi, so I work part-time and I'm going to a pretty cheap university. My EFC on the FAFSA is low enough that I'm eligible for subsidized federal loans, that is, loans for which the interest is paid by the government until I graduate. I've been taking out the maximum and only spending about half of it, putting the rest into a savings account. My thought is that since I don't get charged interest there's no harm in borrowing it, it will be there if a big expense comes up, and if I don't use it I can just liquidate the account and pay it all back when I graduate. I've noticed that every semester I get a loan it opens up a new line of credit which hurts my credit score. For this and other reasons I'm wondering whether what I'm doing is wise. Thanks. [link] [comments]  |
| Posted: 01 Oct 2018 07:42 AM PDT Sorry if this is obvious, I don't have experience with debt collectors. Im in contact with my debt holder Alltran, they are asking me to sign a document requesting my tax return transcripts. They claim service fees will be dropped after the 9 monthly payments of rehab. Is this all legit. I want to make positive progress with my loans and get them out of default. I just want to be sure Im not screwing myself deeper. Can anyone confirm that this is indeed a legit procedure. Is there anything I should be cautious of?. Out of good faith, already gave them my debit card info for payments which I already feel foolish doing. Just want to be sure Im doing the right thing. Thanks for your time. [link] [comments]  |
| Posted: 30 Sep 2018 03:21 PM PDT Hey everyone! I know I've seen a few examples posted. I'm looking for advice on what should be included in a spreadsheet to keep track of loans or if anyone has any they would like to share. I'm still in my grace period but it ends in November. I have federal and private loans totaling $120k. Any input is appreciated. [link] [comments]  |
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