I just paid off the first of 3 student loans! Student Loans |
- I just paid off the first of 3 student loans!
- I’m just.... ugh, I need help.
- Here Is How I Track My Student Loans and My SO's
- Living Check to Check with ~$4k Student Loans To Pay
- Refinance?
- The NSLDS is not letting me create an account?
- Who's Going for PSLF and How Close Are You?
- Can someone explain how interest accrues?
- Refinancing Options?
- Question about paying off loan
- Options when paying spouse's loan?
- Can I use student loans to rent an apartment?
- How do I [M18] get through college on my own?
- Worth Refinancing my loans - (long term implications)?
- Where do I even start?!
- What amount do I put when I refinance my private student loans?
- Can I pay on my PAYE plan in addition to planned payments
- Questions about graduate school funding and loans.
- Wells Fargo didn't give me a 1098-e
- Interest accrual while in repayment?
- Feel misled regarding terms of repayment and schedule
| I just paid off the first of 3 student loans! Posted: 27 Nov 2018 12:01 PM PST I lived at home for a year and put almost my entire (low) salary towards my highest interest loan and paid off $25k in student loan debt while still taking a vacation! I recently got a new and way higher paying job and was able to move out. I have one high interest parent plus loan I'm paying off (no parent help unfortunately) of $16k that I'll be able to pay off in 1 year and six months at $900/month. Then all that's left is a low interest loan of my name of $22k. It seems daunting, but with some budgeting this year and a half will fly by and I'll have paid off 2/3 of my loans! I just wanted to share with everybody. It sucks having $60k in student debt when all of your friends are debt free, but there's a feeling of freedom in knowing i can tackle this! Thanks for the support of this sub- it's been inspiring! [link] [comments]  |
| I’m just.... ugh, I need help. Posted: 27 Nov 2018 10:33 PM PST First of all, thank you to anyone who actually takes the time to read this. Here's what I'm currently dealing with. • Navient private loan (with co-signer) for $43k Monthly payment of $500+ • Nelnet federal loan for $23k Monthly payment of $300+ I've gone to a local credit union/bank to ask about consolidation and/or refinancing and they said it would fall under a personal loan - for which the max would be 25k, and my wife and I don't have enough equity in the house yet to have that make any difference regarding collateral. I've also contacted Nelnet to see if they would work with me to consolidate/refinance and they said it would only be possible if both loans were federal student loans - which they're not. My aunt is the co-signer on my loan, and my wife and I are finding that the payments seem to be continuously going up nearly every month. Is there anything I can do to consolidate or refinance these together, to keep the payment to a manageable size and also get my aunt off the loan? I realize that my payments seem to be relatively low as compared to some others here - but my wife and I are trying to pay these down, and the interest rate from Navient is killing us. Thank you again - and in advance for any advice or tips/pointers you can offer. I feel like I'm trapped in this. [link] [comments]  |
| Here Is How I Track My Student Loans and My SO's Posted: 27 Nov 2018 06:01 AM PST |
| Living Check to Check with ~$4k Student Loans To Pay Posted: 27 Nov 2018 11:31 PM PST To many, $3,384.25 doesn't sound like much. "It's a blessing," "You're lucky it isn't more," "That's easy to pay." I've heard it all. I wish people can just understand how much it sucks when you're living check to check. I'm almost 22 years old, still living with my mom and my sister. I have less than a year to find a place to live since they are kicking me out and moving to a smaller place. I don't have a savings. I get paid minimum wage from my part time job and barely anything from my studio job. I'm just trying to find a way to pay this off. I can barely live with what I get and I'm already going through a lot. [link] [comments]  |
| Posted: 27 Nov 2018 10:58 PM PST I have just started repaying my loans and am not sure of the most cost-effective way to approach it. I have several different direct stafford loans and am not sure what to target first- high principal or high interest (my higher interest loans have significantly lower principal)? Also, Ive heard pros and cons regarding refinancing and consolidation and am not sure what my best bet is. If I refinance will I still qualify for IBR? I am currently signed up for IBR but my income has increased slightly (to ~75k) and so I know my payments will soon as well. Any advice is appreciated! Currently feeling like I'll never be able to pay this off! Here is a a summary of my current loans: $8500; 5.31% $3900; 5.84% $12000; 5.84% $9500; 5.84% $3800; 6.21% $9800; 6.21% $15,400; 5.62% $26,300; 5.62% [link] [comments]  |
| The NSLDS is not letting me create an account? Posted: 27 Nov 2018 09:44 PM PST https://www.nslds.ed.gov when I go here it says the site is down. Is this the right link? [link] [comments]  |
| Who's Going for PSLF and How Close Are You? Posted: 27 Nov 2018 05:24 PM PST I just transferred to FedLoan following my first ECF submission. By my reckoning I'll be at 120 payments in February 2020. My eligible payment count is all screwed up at the moment since I just transferred, but I've had my 2 Direct consolidation loans on IBR since 2010 and I've been teaching at 501c3 and public schools since 2008 (2 employers) and I've always been on auto-payment. My only worry is that all my calculated IBR payments of $0 will be somehow overlooked. Here's hoping my audit is pretty clean the first time through. And that it's done in less than 14 months. :) How about you? I know only 96 of us have completed the journey successfully so far. (Hopefully a few more since the news jumped all over the statistics!) [link] [comments]  |
| Can someone explain how interest accrues? Posted: 27 Nov 2018 03:23 PM PST Hi guys. So I've been pretty good with payments, always paying more than the minimum on my fed loans (all serviced by Great Lakes). However, as I was unemployed, I went on IBR and haven't paid anything since July 23rd. In that time I accrued $682 in interest. My loan amount was $25647 at the time with my highest rate being 6.8%. How do they get almost $700 when all my calculations come around 450? Thanks for any help. [link] [comments]  |
| Posted: 27 Nov 2018 04:05 PM PST I have a fair amount of student loans through Wells Fargo- around $75,000 for my undergrad as well as about $25,000 in federal loans. I am now a nurse and make decent money and have for the past 5 months. I am trying to buy a house and with the money I made from selling the last one, I wanted to throw around $50,000 at my loans to make the monthly payment better. Right now I pay $800 a month without refinancing. I am thinking at this point it would be more beneficial to just refinance and put the extra $50,000 towards more of a down payment. Thoughts on good companies to refinance with? I absolutely hate Wells Fargo so I would prefer not to refinance through them but honestly anything is better then what I'm paying now. Thanks! [link] [comments]  |
| Question about paying off loan Posted: 27 Nov 2018 02:54 PM PST My husband has student loans and I pay the bills. Because I did not have to take any out myself, I only know what I know about them through my spouse and the website. He has quite a bit left and took out around 12 different loans during college. Each one is a different amount with a different interest rate. Some are subsidized and some are not. We chose the ten year repayment plan. Recently we have saved enough to pay off a small chunk on top of our monthly payment (probably the biggest loan or a combination of smaller ones.) We are wanting to do this to reduce our monthly payment. But here is where I'm lost and probably sound stupid. How do I calculate how much of each loan contributes to the total monthly amount? I'd like to know which loans we should completely knock out of the 12 he took out, but I don't know how much of each loan goes to our monthly payment and can't find that info on the website. I'm assuming just throwing the chunk of money towards the loans as a whole would not benefit us much because of interest? That may not make sense at all. Sorry for rambling. [link] [comments]  |
| Options when paying spouse's loan? Posted: 27 Nov 2018 02:51 PM PST Hello! Is there any way to go back on loan deferment if we've already started paying? My wife was able to put her loan on deferment last year because we were not married yet and she was not working. (She planned our wedding between graduation and the wedding, found out we were pregnant a month before the wedding, then had a few 2nd interviews, but nothing came about and once she was showing the interviews stopped.) She found a part time job working from home, but it is nothing compared to what I make and is not related to her degree. So, the monthly payment is based on our grouped incomes, but doesn't take into account our mortgage, debt, etc. It is almost causing financial difficulty and I'm hoping there is an option out of paying for now while we pay down other debt like we were before. Any help/suggestions appreciated, I couldn't find relevant posts here and haven't started looking other areas for information yet. I just thought today that maybe we have more options. Thanks! [link] [comments]  |
| Can I use student loans to rent an apartment? Posted: 27 Nov 2018 02:31 PM PST Pretty much what the title says, is it possible to use student loans to rent an apartment? I've done some research online and people say that you can, but when I also look up how much you can take out in student loans per year it wouldn't cover it. I don't really know much about these loans anyways, so is it true that you can only take out around 10k a year? That's what I've been reading. The average cost of apartments around where I will be going to school is about $1,000/month and I'm not sure if I could get a room mate. My cost of tuition will be pretty cheap so I don't mind spending a little more for an apartment anyways. And please let me know anything else important that I should know about loans. Thanks! [link] [comments]  |
| How do I [M18] get through college on my own? Posted: 27 Nov 2018 01:19 PM PST I have had an extremely rough and abusive childhood which led me to drop out in the 8th grade but fortunately, I earned my HSE in June of 2018. I am moving from NYC to LA for community college in hopes to transfer to a four-year university. I start in the Fall 2019 semester. The thing is, the only person that can financially help me, is my narcissistic mother. She is lower-middle class to middle-class but that's not the only problem. My mother mocks me, my diagnosis (anxiety), and says hurtful things. I want to cut contact once I leave for good. I surprisingly got my FAFSA signed by her and my EFC is 8723. I don't mind getting into debt but I don't want the amount I owe to become outrageous. I have a part-time job at a retail store; I can barely save any money as I don't make much, and I don't get much help from my mother at all. What can I do to succeed? College is my only way out. NOTE: The cost of attendance between the NYC school and LA school I've been admitted to would be around the same as I would not live with my mother if I went to college in NYC. There is no way I would put myself in a position to deal with her every day while going to college. I decided to go to LA because of the great schools for my major, and the weather. [link] [comments]  |
| Worth Refinancing my loans - (long term implications)? Posted: 27 Nov 2018 12:33 PM PST Hey y'all, hoping to get some advice on refinancing my loans - I'll lay out my situation as best as I can for reference: I just graduated last year with my BS in Sport Management. During my time in college - I racked up quite a bit of Student Loan due to a combination of things: minimal financial aid, an extra semester or 2 of college, and most importantly - being stupid & not educating myself on how student loans work & the long-term implications. As a result, I applied for several private loans through Sallie Mae (I currently have SM loans) - the interest rates of these loans are sky-high, ranging from 9%-12.5%. The repayment period of these loans vary, but they're all pretty short (7-10 years) - causing my monthly payments to be huge. Since graduating in May of 2017, I have attempted to refinance my Sallie Mae loans a number of times. In June of this year I got a job in local government/Parks & Rec which doubled my yearly income. I figured since I was now making more money and had fair credit (just under 700) with no credit card debt or anything like that, I'd have a pretty good shot. So I started trying again to refinance my loans. I was denied because of my Debt to Income ratio NOTE: I do not have a willing cosigner - so this will be all on my own. Again, for reference: I have been paying $680/month to Sallie Mae with the varying aforementioned interest rates (Total principle of app. $36k) Just today I got accepted through Advantage Education Loans. But based on the loan terms, I'll be paying significantly more over the life of the loan. I was approved for 15 year repayment @ 7.5% (fixed) interest. This would cut my monthly bill in half (from $680 down to $340). But according to my calculations - I'd be paying about $7,000 more over the life of the loan because of the increased repayment term. I've looked at the pros & cons - I don't like the thought of paying $7,000 more, but it would obviously make my monthly obligation much more manageable. I would be able to put some money into savings, and/or pay extra on my loans. I'd love some advice from people who have refinanced their loans. Any advice is greatly appreciated, thanks in advance! (sorry for the novel lol) [link] [comments]  |
| Posted: 27 Nov 2018 12:12 PM PST So, Ive been in deferment for awhile due to other bills and private loan Ive paid on. My federal loans are due to start soon and I need to know what income based repayments are out there. Ive read about REPAYE and PAYE and I just don't know what is the best way to attack this? Please help me figure out how to get this started. [link] [comments]  |
| What amount do I put when I refinance my private student loans? Posted: 27 Nov 2018 05:28 AM PST I initially took out $38,400 from a private lender and it has since collected interest over the past 2 years. I'm at the end of my 6 Mo grace period and am refinancing it, the question is, do I put the current amount I owe which includes the interest thus far to refinance? Or do I put $38,400? [link] [comments]  |
| Can I pay on my PAYE plan in addition to planned payments Posted: 27 Nov 2018 08:14 AM PST I have a PAYE plan that charges zero dollars a month. I can make 100 dollar a month payments and would like to but I'm afraid it's going to kick me out of PAYE or mess up my 20 year forgiveness. I've read a little online but can't find a hypothetical for if I'd like to make an "additional" payment a month since they take out 0 dollars a month. Also, I'm doing this because I think it will help my credit score since my debt is never going down. [link] [comments]  |
| Questions about graduate school funding and loans. Posted: 27 Nov 2018 07:20 AM PST |
| Wells Fargo didn't give me a 1098-e Posted: 27 Nov 2018 07:12 AM PST I had a student loan through Wells Fargo that was paid off when I consolidated my student loans. I just got a letter from Wells Fargo informing me that they didn't give me a 1098-e form when they should have and issued me a cashier's check to "make up for it" due to the lost interest deduction. Anyone seen this happen before? [link] [comments]  |
| Interest accrual while in repayment? Posted: 27 Nov 2018 06:26 AM PST So I recently dove in to the details of my private student loan repayment. Turns out, Wells Fargo charges interest accruals, which means for every day I'm late on my payment, the amount I pay goes towards more interest than principal. Over the past 6 years, I've had several months where literally no principal was paid down. Is this normal? I feel like it's extremely predatory but I'm self-employed and commission income so it's next to impossible to refinance. I guess I assumed student loans would work like any other installment loan (auto, mortgage), where the interest is amortized for x years and not accrued daily. [link] [comments]  |
| Feel misled regarding terms of repayment and schedule Posted: 27 Nov 2018 03:45 AM PST I'm currently using MyFedLoan, and I've consolidated my loans totaling $24,185.63 and paying $246.25 per month towards it with 4% interest daily. I am currently 6 months of payments in, I see that the principal towards the subsidized loan is about $100 to principal with about $47 towards interest, and the unsub loan is roughly $66 and $33 each month. I wanted to pay off the loans in 10 years, hopefully. When I spoke on the phone to the agent, I had the assurance that I could pay it off in 10 years with the amount I am paying. But according to my payoff date...it's dated for 20 years, 233 payments for both! I am dumbfounded and feel like a fool for not being more careful and getting locked into this. Am I paying too little now to get them paid off in 10 years? I swear I signed the agreement for a 10 year term...and the agents assured me as long as I am paying 246.25 per month I should pay off all loans in that time. Here's the info below...much thanks for your help in advance. Here are the loan details as of today: Direct Sub:
Payment Information
Direct Unsub:
Payment Information
Due Date Information
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