The Future of Student Loans Student Loans |
- The Future of Student Loans
- Student loans affect my credit score?
- Just got my loan statement in the mail
- Making Minimum Student Loan Payments For The Rest of My Life
- Mayor offers to payback student loans
- Trying to set up Auto Draft
- How do people take out 6 figures in student loans?
- Student loan advice
- Where to see the total I've paid?
- Will I be approved?
- 19M international student planning to star college in the US. Should I take out a ~$100K loan to pay for college?
- How to avoid wage garnishment
- Adjustable Rate Loan
- Best private loan to take out as an undergrad student?
- Quick Question about PAYE vs REPAYE
- PSLF Certification Questions
- Keep getting the "we are unable to provide you with your Federal Income Tax information" page
- Military Officer & student loans.
- Question on Payments Before the End of Grace Period
| Posted: 05 Nov 2018 09:33 AM PST I have a lot of student loan debt. Some of my friends are 250K deep with absolutely zero chance of being able to pay that back with their degrees. I'm wondering what the future of this massive bubble is and whether anyone is speculating/reporting on it. Will the bottom fall out and effect the economy on a scale that will force some kind of reform? Will the Democrats (now a little more left leaning) find a way to institute some kind of amnesty? Does it make sense to forgo having a life for a few years to pay them back, or keep paying the IBRP minimum and reap the rewards of a failed system careening towards catastrophe and hopefully some kind of correction? [link] [comments]  |
| Student loans affect my credit score? Posted: 06 Nov 2018 12:37 AM PST Hi. im searching for my blog. Student loans affect my credit score? [link] [comments]  |
| Just got my loan statement in the mail Posted: 05 Nov 2018 10:50 PM PST I was wondering how to go about loan repayment where I will pay within a margin of $500-$850 of accrued interest, while spending more than the default repayment plan's monthly rate. I have income of at-best, $1,500 a month, but averages $1,200-$1,400. Fortunately, I am able to save a large portion of my income, because I live at home with my parents and have no obligation to pay rent. My loan total is 8,000. One part being 3,500 at 3.76% interest, and the other being 4,500 at 4.45% interest. I am concerned with the billing plan's automatic monthly rate of $81.77. I was wondering if anyone would give me advice as to whether or not I should go out of my way to pay a little bit more, to avoid significant interest accrual, or stay with the automatically calculated rate of $81.77 a month. Furthermore, I wonder this because after analyzing data from my loan servicer, Nelnet, my total repayment of the initial $8,000, after interest accrual, will be nearly $10,000. So I seek a way to somewhat minimize interest accrual to a significant degree where I can stay between $500-$850 of accrued interest, instead of the massive $2,000 accrued interest. PS: I understand I can just also take the full repayment period of 10 years, as was instructed by the servicer, but as I am unfamiliar to the whole repayment process of a loan, I am sort of anxious as to how I should play this. [link] [comments]  |
| Making Minimum Student Loan Payments For The Rest of My Life Posted: 05 Nov 2018 10:04 AM PST Wondering if anybody good at math has considered this topic (since I majored in political science): Premise: Minimum payments are required not to go into default. But these payments will not actually allow me to repay my loan ever, because the interest will be running up faster than I will be paying it. Another payment type is paying just enough every month in order to repay everything in 20-30 years. So, is it a viable option to make minimum payments for the rest of my life on my 6 figure student loan, instead of repaying the principal and any accumulated interest on a 20-30 year timeframe? I want to save money in long term just by paying the required minimum every month, in order to avoid any legal action being taken against me, like getting my wage garnishment or having to default. The goal here is that any outstanding balance will be wiped upon my expiration, it's not like my kids will inherit the loan. I think I can keep the loan hanging there, because there is no specific date in my contracts, by which I am required to have driven the outstanding balance down to zero. I guess I am looking to see if making the minimum payments for 50-60 years is going to cost me less than trying to repay the principal and any interest I run up over 20-30 years. I have tried different calculators online, but they seem to only give me the suggested payments to repay the loan and require an assumption about future interest rates, which is kind of hard, since I have a bunch of private and federal loans and I cannot juggle all those interest rates. Leaving US is not an option here. [link] [comments]  |
| Mayor offers to payback student loans Posted: 05 Nov 2018 06:35 PM PST |
| Posted: 05 Nov 2018 08:59 PM PST Heartland ECSI is the vendor. Federal Perkins loan. It says the interest rate is 5% but when I go to set up auto draft it says there is a fee of 3.95 percent of the payment to auto draft. Is that on top of the 5%? This seems like complete bull. Anyone else facing something like this? [link] [comments]  |
| How do people take out 6 figures in student loans? Posted: 05 Nov 2018 08:55 PM PST I understand the aggregate limit for federal loans is currently $138500 if you go to graduate school. How do the private student loans work though? How much do they allow? What are their requirements? Is it for anyone with a pulse or do you need at least a 700+ credit score? [link] [comments]  |
| Posted: 05 Nov 2018 08:48 PM PST Hello, Has anyone ever used Discovery or any other agency to refinance private student loans and if so what has been your experience? Do you recommend it? I'm looking to lower the interest rates on my loans as some of them are as high as 12%, so I think refinancing might be a good option for my private loans. Please give me advice, I'm open to all suggestions, student loan debt is ruining my life :( [link] [comments]  |
| Where to see the total I've paid? Posted: 05 Nov 2018 01:59 PM PST I have $2k left in loans to pay. By the end of the year, I'll be free of the $37k I took out! My loans have been sold at least twice (Fed->Sallie Mae->Navient), so I have no idea how much I've actually paid in principal + interest. Is there anywhere I can look? Would love to know what the total cost was. I tried the https://nslds.ed.gov/ but it just has the original dispersed amounts. I've changed banks a few times as well, so I don't have a great way to dig into it. Thanks! [link] [comments]  |
| Posted: 05 Nov 2018 05:13 PM PST Hey! So I need PRIVATE student loans to take classes this summer (summer 2019) and I want to know if I can get approved. 1 month ago I opened up my first credit card (I have no other credit history whatsoever). I have no need to buy anything on credit either. Just to get a good score I buy small things on the card like a cup of coffee and then just pay it back immediately at the deadline. I've been told by this method I can build a score of 600+ in 6 months. Furthermore, I was advised that student loan approval is based on credit score of 600 or more, but I'm wondering if 6 months history of paying small things back is enough. Can I get approved for 48k student loans by Summer 2019 this way? No cosigner or income (though I can get a part time min wage job if that will help). I also will not qualify for a federal loan. I'm planning to take a deferred private loan and pay it back when I get an engineering job after college. Appreciate your help guys and gals! [link] [comments]  |
| Posted: 05 Nov 2018 11:44 AM PST Hi, I'm an international student looking to study in the US since the political situation in my country is messed up by socialists politics. I came to the US (yes, legally) to live with my family in Seattle, WA. They told me about the possibility to stay here and study, since the education here is way better quality-wise than in my country. But there are 2 problems: 1- Tuition for international students is twice as much as for US students, e.g University of Washington costs around $22k for residents, but for internationals is at around $47k a year. That's huge. 2- Since I'm not a US citizen, I can't apply for federal loans or most of the scholarships that are offered at universities, so my only choice left is to lend from private banks, which usually give you extremely high interest rates. (I have a US co-signer with good credit, so that may help to lower the rates a little). So my question is, is it worth it to lend all that money to study here? Is that much money considered a "big debt" or is that average? I want to major in either Business Administration or Software Engineering. Thank you guys! [link] [comments]  |
| Posted: 05 Nov 2018 05:26 AM PST I owe about $1200 to a college in a student loan and also paying back a pell grant, they said if I didn't pay it by December it would be taken out of my paychecks. I don't mind paying it back it's not like I'm not trying to I just don't have the money at the minute. I asked them if I could make payments and they said they couldn't set that up. They said it would be sent to some federal revenue agency whatever it's called lol, if I didn't pay it back by December, and that's when they would do the wage garnishment. Is there any way to avoid this and make payments ? I can't find a straight answer. Also if there isn't and they have to take it out of my checks , what is the most they can take out of my checks I make about $500 a week after taxes. Any help would be appreciated! [link] [comments]  |
| Posted: 05 Nov 2018 01:52 PM PST I have an adjustable private student loan from Citizens One serviced by Firstmark Services. I've noticed that in 10 out of the last 12 months that my interest rate has increased. The increases range from 0.02% to 0.25% between months, and over the past year, it has increased by 1.02%. Is this normal? Other adjustable rate loans that I've had in the past didn't have monthly changes like this. [link] [comments]  |
| Best private loan to take out as an undergrad student? Posted: 05 Nov 2018 11:04 AM PST I am studying abroad in the spring of 2019 and I have to do a private loan to cover some of the costs. I graduate in August with my bachelors and may or may not be starting grad school in September. I have roughly $20K in federal student loan debt right now. Any advice on the best private loan I could look into? [link] [comments]  |
| Quick Question about PAYE vs REPAYE Posted: 05 Nov 2018 07:03 AM PST I have finished Grad school with ~130k in debt. My starting salary in the private sector is 45k. I am hoping for a relatively large jump in salary within the next few years, but this is not assured. I qualify for both PAYE and REPAYE. My question is this: because I will not be able to pay down my interest faster than it is accruing, does that automatically make REPAYE the better option? What other factors should I consider? [link] [comments]  |
| Posted: 05 Nov 2018 08:48 AM PST Hey all, I've been working for a state funded university since 6/15 and only have shown 11 qualifying payments when I feel like it should be closer to 40-41. According to Fedloan, it's because I did not choose an IDR (Income Driven-repayment) plan until last year. This makes little since to me as the payment plan I was on before gave them MORE money per month than what they are getting from me now. Details: 3 loans (1 Sub Stafford, 2 Unsub Stafford) (3.5%, 4.5%, 4.5%) $6,980.20 $28,950.54 $34,957.51 [link] [comments]  |
| Keep getting the "we are unable to provide you with your Federal Income Tax information" page Posted: 05 Nov 2018 03:47 AM PST I am not sure when I am supposed to start my loan payments, it Great Lakes says "soon" after 11/11/18. Now for my first payment, unless it's adjusted, I am going to be asked to pay anywhere from 1.5-2k. I don't have that money and so I'm sorta SOL. I am trying to get into a lower monthly payment so that I can make payments. I am not sure how long the process takes but I imagine it's a lot faster if your IRS information is linked and you don't have to send in physical paper. My taxes were filed in 2017 so there should be information to link, but the IRS keeps giving me the "we are unable to provide you with your Federal Income Tax information" page." What will the consequences be if I can't make this payment? Is there anyway I can get the page to link my information properly? I have entered the right address / information the exact way it's used on my tax information. If I need to send in the physical application should I also send in copies of my 2017 tax returns? [link] [comments]  |
| Military Officer & student loans. Posted: 04 Nov 2018 07:30 PM PST I'm curious if anyone's had any major luck with the Public Service Member Relief act. All my rates are low anyways & I only have 24k in public loans on a easy payment plan. I thought I had set it up, but I'm now thinking they did it wrong (will call Sallie Mae tomorrow & get it figured out.) but wanted to see if anyone had an actual experience with it, or with anything else they had done. [link] [comments]  |
| Question on Payments Before the End of Grace Period Posted: 04 Nov 2018 05:56 PM PST I have a question I'm hoping someone can help me answer. None of my research has turned up any useful information. I have several small federal student loans. Some of them are subsidized, and some of them are un-subsidized. The grace period ends this January. I got a job and wanted to start paying off the interest on the un-subsidized loans so it will not be capitalized. I also wanted to make a few payments on principal balances before the end of the grace period. Last month, I payed off all the interest that has accrued on the un-subsidized loans with my first paycheck. What has happened is that the subsidized loans have begun accruing interest despite the grace period still being a few months away. From what I could tell before I made the payment, this should not be the case. Did I forfeit the remainder of time in the grace period when I made an early payment? Edit: I just realized I have no payments due, but I am still confused why interest has started ticking. [link] [comments]  |
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