Utilizing interest-free loans Student Loans |
- Utilizing interest-free loans
- Should I accept more debt?
- PSLF, review my paperwork, catch my mistakes???
- Autopay or no?
- Grace Period Ending Soon, Advice/Suggestions Needed
- NEED A STUDENT LOAN WITHOUT A COSIGNER?
- Will SoFi reject me if my cosigner's credit is so so?
- Are there any downsides to refinancing a student loan?
- How bad is the need base aid at Georgia Tech and Carnegie Mellon
- How are subsidized loans disbursed? Per semester or one big chunk annually? Are Direct Sub loans that bad?
| Posted: 04 Nov 2018 08:23 AM PST Hi, I came from a lower-middle class family. Neither of my parents had gone to college, my school counselors were trash, and my "college-prep" school did nothing to prep me for college. All I knew was that college costs a lot. So, I spent weeks researching how to get through college as cheap as possible. AP tests, CLEPs, community college...all the classic things. Then one day I came upon something called an "interest-free loan". I thought it was BS at first because why would someone offer loans interest-free...there's no way it could be sustainable. Well, as it turns out there are a number of these organizations. They're offered from a variety of organizations(e.g. governments, non-profits, charitable or community associations). And they are legit. While standards and requirements are different for each organization, there is virtually no harm in applying to all that you meet the criteria for. Let's look at the basic math:
\average student loan debt, **average student loan repayment period, ***average private loan variable interest rate, **** average private loan fixed interest rate) Having interest-free loans, I was been able to take more risks(and get more rewards) with my education. I decided to go to a private liberal arts school. Relative to a community college, I had abundant opportunities for growth and skill-building. I was able to study abroad without worrying about interest growing and growing. I was able to take on special projects that I know(from friends) just aren't offered at community colleges. And, I got to have the "college experience". So please look into interest-free loans. I've attached a list of some that I know about below: Bill Raskob Foundation (any US citizen) Military Officers Association of American (must be in Military or child of military parents) Evalee C. Schwarz Charitable Trust for Education (any US citizen going to attend a university/college in their home state) [link] [comments]  | ||||||||||||||||||||||||||||||||||||||||||
| Posted: 04 Nov 2018 11:01 PM PST I just started my undergraduate at a private university in a big city. I'm on really great scholarships and I am not taking out an absurd amount of loans at the moment. However, I've quickly discovered that the school I've chosen might not be the right fit. It's extremely conservative and religious and my major is not good (political science). I've fallen in love with another school in my new city, but it's wildly expensive. It has great post-grad options for my field. I'd estimate that I'd be taking out $30k a year in loans. Is it worth it? Could this be a good idea even though it puts me in debt? (for reference, im wanting to go into the corporate world. also considering corporate law, not sure on that though.) [link] [comments]  | ||||||||||||||||||||||||||||||||||||||||||
| PSLF, review my paperwork, catch my mistakes??? Posted: 04 Nov 2018 09:49 PM PST I'm seeking PSLF. I'm about 8 years in, hopefully. I'm looking to hire someone to review my situation, my paperwork, my plan, my certification, my loans—everything, to determine I've missed or overlooked anything to be on track for forgiveness as planned. I'm aware of the legal requirements, but with so many people subject to mistakes and misunderstandings, I'm seeking professional, for-hire review. Does such a PSLF personal review service exist? May I please have a reference? Thank you. [link] [comments]  | ||||||||||||||||||||||||||||||||||||||||||
| Posted: 04 Nov 2018 03:34 PM PST I've got 50% of my loans in federal and 50% through Lendkey after refinancing. Both offer a rate reduction of 0.25% if I sign up for autopay. I'm thinking of doing it (would save about $20/month which could go toward principal), but was worried about potential to miss a random fee or something they might charge me, making the rate reduction not worth it. Anyone have experience with autopay? Good or bad? [link] [comments]  | ||||||||||||||||||||||||||||||||||||||||||
| Grace Period Ending Soon, Advice/Suggestions Needed Posted: 04 Nov 2018 11:34 AM PST Hello everyone, So my current loans are as follows (Type of loan/ Loan amount/ Outstanding interest/ Interest Rate) [Direct Stafford Unsubsidized (DSU) & Direct Stafford Subsidized (DSS)] DSU / $12,000 / $424 / 6.00% || DSU / $7,000 / $589 / 5.31% DSS / $1,630 / $0 / 4.29% || DSU / $2,203 / $348 / 4.66% DSS / $1,547 / $0 / 4.66%|| DSU / $2,203 / $389 / 4.66% DSS / $1,547 / $0 / 4.66% || DSS / $2,370 / $4 / 3.86% DSU / $2,000 / $355 / 3.86% || DSS / $5,500 / $11 / 3.86% DSU / $2,000 / $762 6.80% || DSS / $4,500 / $7 / 3.40% DSU / $2,000 / $897 / 6.80% || DSS / $3,500 / $0 / 3.40% Total DSS - $20,594 ($22 outstanding interest) Total DSU - $29,406 ($3,764 outstanding interest) Total loans - $50,000 All of my loans are under Navient, I currently work for a higher education institution (College/University). I only make $35,500 and I just picked up another job at Target to help pay for loans starting in December. I plan on going down the Public Service Loan Forgiveness (PSLF). I am also going to be applying for the payment route of IBR (Income Based Repayment). Is there anything else that I am not thinking of? Also, if I plan to go down the PSLF route, do I need to consolidate all the loans together? I also calcuated that if I consolidated, the average interest rate would be 4.73% (just taking the average of all the interest rate). Any suggestions/advice on how to tackle this would be greatly appreciated! I am a long time lurker on this subreddit and it's been very insightful to see what people are saying on here. I appreciate the help! [link] [comments]  | ||||||||||||||||||||||||||||||||||||||||||
| NEED A STUDENT LOAN WITHOUT A COSIGNER? Posted: 04 Nov 2018 10:21 PM PST Student loans offer several benefits, including the possibility for subsidized interest during school, loan forgiveness programs, and income-driven repayment plans. https://studentloans2019.com/need-a-student-loan-without-a-cosigner/ [link] [comments]  | ||||||||||||||||||||||||||||||||||||||||||
| Will SoFi reject me if my cosigner's credit is so so? Posted: 04 Nov 2018 04:45 PM PST My cosigner and I have so so credit and I plan on refinancing in the next month or so. Also, if SoFi rejects us, are there any other recommended refinance companies that will do Navient loans? If I remember correctly, Earnest is owned/partnered with Navient so they're out of the question. [link] [comments]  | ||||||||||||||||||||||||||||||||||||||||||
| Are there any downsides to refinancing a student loan? Posted: 04 Nov 2018 02:24 PM PST Also is there a limit on how many times one can refinance for a cheaper interest rate? [link] [comments]  | ||||||||||||||||||||||||||||||||||||||||||
| How bad is the need base aid at Georgia Tech and Carnegie Mellon Posted: 04 Nov 2018 05:58 AM PST I don't want to be in debt of more than 40k, so I'm making sure my schools offer sensible aid. This question is specifically aim at people who were accepted to the schools with 50k-100k income. They both use the same website to calculate Net price, and both of them have very minimal and vague responses. Most other sites let me enter an asset count for example. Most schools of similar caliber to Carnegie give me a net price of 5-10k a year, meanwhile the calculator for Carnegie and GTech say 20-30k. I understand Aid is différent for everyone, so i hope you guys can give me some personal examples. I'm not sure if this is the right place to ask but since this is about my fear of taking out major loans, so I figure I might as well ask here. [link] [comments]  | ||||||||||||||||||||||||||||||||||||||||||
| Posted: 04 Nov 2018 11:55 AM PST |
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