Final Payment Today. Student Loans |
- Final Payment Today.
- Student Loan Advice while a current student?
- For those who aggressively paid off their student loans early, what did you do to celebrate? How’s your financial situation these days?
- Offered an 85k job on the contingency that I pursue an MSc. Would put me 85k in debt.
- Got approved for refinancing! I need some advice!
- Haven’t Paid Student Loans in over a year!
- Navient Interest Rate Increases Monthly
- Alternates to Earnest?
- Tried to pay off all my loans--one cent balance left, with a one cent credit from another loan.
- Should I pay off my student loans in full?
- Grace period coming to a close, need a bit of assistance
- IDR Recert Timing Question
- Plan 1/2 Disparity
- Is 25K Canadian in loans not bad?
- For IBR plan do they look at my gross income or after expenses
- Extended repayment options
- First semester senior looking to get loans
| Posted: 02 Nov 2018 10:51 AM PDT I just put in my final payment today! It is a big accomplishment for me and my family, but I'm still waiting for that final payment to get deducted from my bank account before I think I will feel any kind of relief. I have paid the most I could afford ever since I figured out what it would take to make the loans go away (about a year after finishing undergrad). Some months paying the minimum, some months paying $2,000+. All in all, I've paid a total of ~$130k over 9 years, with original loan balances close to $100k. In there, I was able to do graduate school part-time with my employer at the time covering a good majority of that. I was also able to delay my federal loans, which helped me turn my focus on the private loans with higher interest rates for about 4 years. First job out of school I was making $11/hour working in a warehouse doing some tough work, but getting by. The past two years I have been fortunate enough to be making close to six figures, and in that two year span I was able to pay $50k+ towards my loans. I definitely could have paid off my loans sooner or used my wife's income to help, but I wanted to take care of this myself. It has always been comforting to come here and know that others are in a similar situation when it comes to student loans. The advice and inspiring stories on here has really helped me stay the course, and I thank you all for that. [link] [comments]  |
| Student Loan Advice while a current student? Posted: 02 Nov 2018 11:00 PM PDT I am a first year college student who so far has one Federal Unsubsidized Loan at the moment. Based on my EFC, I know that I would have to take out loans in the future to continue school. I plan on majoring in public health and no that the job prospects don't exactly have high salaries I have about a little less than $10k saved for college and that almost covers one year of my tuition. I plan on using it for at least one year of school. I've been using part of my paycheck from my part-time job to pay off the principle of the loan. Any advice on dealing with Student Loans would greatly be appreciated [link] [comments]  |
| Posted: 02 Nov 2018 07:18 AM PDT Out of curiosity, for anyone who paid off student loans early, what did you do to celebrate? What did you do with the extra monthly income? How's your financial situation now? Are you debt free or did you take on other debt? [link] [comments]  |
| Offered an 85k job on the contingency that I pursue an MSc. Would put me 85k in debt. Posted: 02 Nov 2018 09:31 PM PDT This is a little bit of a unique situation. I have a degree in Management from a small state school. An extremely close family friend (basically an uncle) just got promoted to Partner in his investment banking firm. The dude is well networked. Anyway, he said that if I were to go back to school and pursue an MSc in Finance he could offer me an analyst position at 85k. As of right now, he told me my academic/finance background wasn't strong enough. The MSc would throw me 85k in the red. The job is NYC but I'd be able to live with my parents for a little to save money and soften the blow. Additionally, even if his firm wasn't able to offer me a position he gave me quite a bit of assurance that he could leverage his network and land me something fairly quickly at the same salary. I very much trust him on that. I'm heavily considering it simply because it would increase my earning potential significantly and allow me to build a solid network. But the thought of 85k in loans is nauseating. Any thoughts on whether or not this is fiscally responsible? Right now I am 35k in debt and earning just under 40k as a research associate. I fell fairly stuck. [link] [comments]  |
| Got approved for refinancing! I need some advice! Posted: 02 Nov 2018 08:17 PM PDT Huge moment today! I got approved today to refinance my student loans!! Can someone please help me with the last big hurdle? Should I do a fixed or variable rate, and did i get a good rate? Details about me I have about a 700 credit score and I owe about 115k at about 7%. I got approved by Earnest for the following terms:
Questions
Thanks! [link] [comments]  |
| Haven’t Paid Student Loans in over a year! Posted: 02 Nov 2018 02:09 PM PDT Hello, So since graduating from university in California back in 2013, I've paid the minimums when repaying my student loan of 25K+ and back in late 2016 I began missing payments. I stopped receiving letters and don't know where to check my status for all that? The website I used to login into make the minimum payments says the balance is 0 so I'm guessing maybe it went into collections or something? Any guidance towards the right direction is appreciated. Thanks ! [link] [comments]  |
| Navient Interest Rate Increases Monthly Posted: 02 Nov 2018 06:48 PM PDT I have been able to start paying off my loans extremely aggressively and over the last 8 months I've paid $63,580.19. During that time, my interest rate has increased incrementally on a monthly basis. It started at below 10% on my 2 biggest loans, they're now both at 11.25%. It's extremely disheartening to pour every last cent I have into these loans only for the interest rate to creep up. Unfortunately, I can't refinance because I defaulted when I first got out of school (almost 10 years ago now). I know the interest rates are tied to the federal interest rate, but what I don't understand is, why is my rate over 11%, while the federal interest rate us under 3%? I'm just extremely frustrated and discouraged. It feels like, no matter how much of my income I pour into these loans (which is 100% outside of basic necessities), the rate will just continue to rise. I wish I could kick myself for agreeing to variable rate private loans way back when. Is anyone else seeing their variable rates increase monthly? [link] [comments]  |
| Posted: 02 Nov 2018 06:35 AM PDT With Earnest's new changes, I don't like how it's setup anymore. They removed bi-weekly payments and force you to call in for auto payment amount changes. So much for ease of use. What are some other good alternates to Earnest? [link] [comments]  |
| Tried to pay off all my loans--one cent balance left, with a one cent credit from another loan. Posted: 02 Nov 2018 07:55 AM PDT I had three loans, and decided to pay them all off in a lump sum as I had enough saved to do so. It took three days to process this of course (via Navient). Now when I go to check it out, it says I have a one cent balance. This is because one of the three loans was paid an extra cent that should have gone to another loan... -_- Is there a way to just transfer that cent over to other loan? Is there a reason why this happened? I swear I directed each portion to the right loan. [link] [comments]  |
| Should I pay off my student loans in full? Posted: 02 Nov 2018 04:01 PM PDT I have about $26k CAD to pay off and I have been saving money since I started borrowing from OSAP to the point where I have enough to pay it off and still have money in the bank to live comfortably, emergency, etc. Is this a smart move or should I instead make larger monthly payments toward my student loan? I have already been on repayment assistance twice and I don't know what other options I have. [link] [comments]  |
| Grace period coming to a close, need a bit of assistance Posted: 02 Nov 2018 11:51 AM PDT Hey guys, So I am living on my own (23M), and have a decent paying job (~65k). I have a bit of student loans from university, and am looking for the most efficient and effective way to pay them off. I would really appreciate some assistance. These are the loans I have, as well as the percent interest: Sallie Mae- $10,4539.93 : 9.125% Sallie Mae- $7,959.41 : 11% Sallie Mae-$4,144.71 : 11% Sallie Mae- $3,457.12 : 9.375% Sallie Mae- $1,840.74 : 11% Total : $27,855.91 My rent is $949 a month, and I am pretty frugal when it comes to the rest of my money. Would you guys consolidate or what? Any advice would be much appreciated! [link] [comments]  |
| Posted: 02 Nov 2018 07:48 AM PDT I'll try to make this as short and clear as possible...! Thanks all for any thoughts you may have. I send in my IDR recertification paperwork in January/February of each year. Years ago, I was informed by my loan service provider (FedLoan) that they accept tax returns that are up to two years old, especially for me since I submit my recert paperwork so early in the calendar year, well before the tax due date of April 15. My current payments (May 2018 - April 2019) are based off IDR recertification paperwork submitted in February 2018, which was a copy of my 2016 tax return (I filed my 2017 tax return in April 2018 so it wasn't available yet). In January/February 2019 when I submit my IDR recertification paperwork in, I plan to file my 2018 taxes EARLY so that my IDR recertification in 2019 is based off my 2018 income. I would like to SKIP using my 2017 tax return on my IDR recertification paperwork. AND NOW for my question :) ! In January/February of 2020, I would *again* like to use my 2018 taxes for my IDR recertification paperwork. Will I be penalized somehow for using the same tax return two years in a row to recertify my IDR??? Has anyone else been in the same boat as me? Basically, I would like to skip having to use my 2017 and 2019 tax returns to determine my IDR payments. Timeline of plans: 2019 January - File my 2018 tax return as early as possible 2019 February - Submit Recertification paperwork (ie, a copy of my 2018 tax return) for my IDR payments to be made between May 2019 - April 2020 2020 January - Submit Recertification paperwork (AGAIN, a copy of my 2018 tax return) for my IDR payments to be made between May 2020 - April 2021 2020 April - file my 2019 tax return [link] [comments]  |
| Posted: 02 Nov 2018 06:11 AM PDT I have just discovered that Plan 2 grads pay less repayments than Plan 1 grads, on the same income. In my case over £100 less a month. How can this possibly be justified when people on both plans have studied the same degrees, at the same institutions and within my case a few years of each other? [link] [comments]  |
| Is 25K Canadian in loans not bad? Posted: 02 Nov 2018 09:48 AM PDT After I obtain my bachelors of social work, I will have about 25k in debt. I'm from Ontario, Canada so we have OSAP which is the province's student loan organization. Is this much not bad? Also, I want to pay it off in about 3 years. [link] [comments]  |
| For IBR plan do they look at my gross income or after expenses Posted: 02 Nov 2018 09:43 AM PDT Drive with Uber and the amount I am paid weekly over the course of the year is drastically different than what I actually pocket after paying gas, oil, car wash, tires, maintenance, etc. When determining my income level for the year will they look at the fake number (gross) or the real number (net)? [link] [comments]  |
| Posted: 02 Nov 2018 08:45 AM PDT Sorry if this is a stupid question. I just can't decipher all the information I'm reading. Me and my fiancé will have MA degrees and 120k total student loan debt, all federal. It's pretty much split 50/50. I am going for PSLF. Here's my question, for the qualifying payment plans for PSLF, do they take in to account spousal loan amounts as well as loans? So would my loan payment loan payment be lower because she also has loans? Or does this not matter? Does anybody have experience with this and maybe some tips about what to do getting started with PSLF? [link] [comments]  |
| First semester senior looking to get loans Posted: 02 Nov 2018 12:47 AM PDT I've never gotten a loan before, basically I just fill out FAFSA and visit my school financial aid center? What type of loan should I ask for ? I'm looking for 20-25k to pay for next semester. Do I have to get my parents involved for a loan? Also my credit score is not to good but I've heard that it doesn't matter for student loans from your school? Thanks [link] [comments]  |
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