Graduating soon, looking for guidance and advice on paying off about $130K in loans. Student Loans |
- Graduating soon, looking for guidance and advice on paying off about $130K in loans.
- Switch to IBR to pay off large balance sooner?
- I have a student loan of 2k that I completely forgot about. It’s in default. Can I just pay it in full and be okay?
- Refinancing Question (really confused)
- Question Regarding Student Loans
- Question About LendKey
- Why would the amount on NSLDS.gov be different than the amount on Nelnet.com?
- How do I know what type of loan I have?
- Where to apply for student loans
- Please help me understand SL consolidation/refinance options
- Is PSLF a scam ?
| Graduating soon, looking for guidance and advice on paying off about $130K in loans. Posted: 30 Dec 2018 08:15 PM PST I've gone to 3 schools over 14 years, and made some terrible decisions. Not looking for sympathy. I graduate in June with my BS Accounting degree. I plan on submitting transcripts to CPA board and taking that test IF I meet the 150 hour requirement. I have a mixture of private, unsub, and sub loans, with all 3 carriers (Nelnet, Sallie, Navient). Currently, I'm paying on only one loan, and for that one I have a question: It says my principal owed is $14,696.81. It says my unpaid interest is $34.38. And that my Current balance is $14731.19. Does that mean I am about to start paying solely on principal for this loan? I've been paying on it since 2009. Overall, here's my other question. Is IBR adviseable if available, and then I just pay more to direct towards principal? For example, if my payment is $150 on IBR and I pay $200, have them direct the $50 to principal? Is that possible? My current plan is to go from smallest amount to largest amount and pay off each loan separately. I still have good credit (low 720s) so is refinancing adviseable? Because some of these interest rates I have are disgusting. If so, with who? Sofi? To finish, I expect no sympathy or an easy road. Thanks for all help, even the criticism. I will be reading other posts on this board to gain knowledge and help as well. I have a plan and a hope to pay them off in full ASAP (obviously) and I accept my responsibility, and honestly, I am not scared. There is a loan that I owe $796 on, and I will pay that loan off when I get my tax return in Feb. It is a subsidized loan. Thank you all again. EDIT: 2018 gross pay $36k. As an accountant, I expect to start around 40-45K and potentially hit 6 figures in the future. I have no kids. I live in Louisiana. [link] [comments]  | ||
| Switch to IBR to pay off large balance sooner? Posted: 30 Dec 2018 02:04 PM PST Hello, Asking your advice because I'm not sure if I'm about to make a very stupid mistake... Specifically: should I switch from a standard payment plan to an IBR, and then use the "extra" money towards paying off principle? To clarify, I would pay the same amount total (which I'm thinking would include the monthly interest), but apply any extra towards the balances with higher principle, to try and cut down the total life of the loan. Further details: In 2012, I got a master's degree and have been paying back under the standard payment plan. I have just under $125k outstanding, at various rates but with ~100k at 7.8% and the rest somewhat lower. (Yes, I took out WAY too much. There were reasons at the time. They didn't work out. I recognize that I am blessed to still get a higher-than-median salary, but I'm definitely struggling given that this is on top of all my other expenses in a HCOL city. ) Because of intermittent work history, where my loans went on deferment but the interest got wrapped back in, I have a monthly payment of over $2300. All loans date from 2010-2012. I do not have a cosigner, and while I have strong credit and have ALWAYS been current on my payments, I do not expect that I could save significant amounts by refinancing, as I am risky due to the large balance on the loans. Because I was not working for most of 2017, my salary was ~$70k. In 2018, my salary was intermittent but technically higher as I did contracting, and my MAGI is likely to increase/ could be as high as $150k. In 2019, my salary should hopefully be more stable and will be ~$135k. I am a single filer, and because my income is high I don't qualify for any tax credits. I don't want to further extend how long it will take to ACTUALLY pay off the loans, I just want to not keep on throwing money away if it's possible for me to finance differently. TL;DR : is there any benefit/ downside to switching to IBR if I'm going to pay the same as I do on the standard payment plan? Thanks for any help you can give! [link] [comments]  | ||
| Posted: 31 Dec 2018 01:47 AM PST It has a 4.66% interest rate and went into default in December of 2016. It's a very low amount so I could use my savings and pay it potentially. How much would I have to pay? It says when it went into default, I owed around $2250. [link] [comments]  | ||
| Refinancing Question (really confused) Posted: 30 Dec 2018 02:36 PM PST Hey guys, so my largest student loan is a parent plus loan of about $73k. Right now I'm shopping around trying to find lowest rates and the best situation for me and all that good stuff. My question is when I'm filling out all the questions they ask you like...degree earned, mortgage/rent, ssn date of birth. Since the Lon is technically in my mother's name should all of this information I'm filling out be hers? She never went to college so no degree earned. Idk I guess I'm just confused on who's information to fill in on this stuff and it's pretty frustrating. I would appreciate any help, thank you. [link] [comments]  | ||
| Question Regarding Student Loans Posted: 30 Dec 2018 10:33 PM PST Hoping one of you can help me out or point me in the right direction. I have about $60k in Direct Loans (paying to FedLoan Servicing now) and have been out of college for almost 7 years now. I am making like $500 payments monthly but I haven't made a dent! I think my overall balance went down like $2k in the past 7 years, if that. It just doesn't seem right. Any options for me like refinancing or something? I feel like I will be paying this off the rest of my life. Help! Thanks so much in advance and Happy New Year to all of you :) [link] [comments]  | ||
| Posted: 30 Dec 2018 08:56 PM PST Does anyone know how long it takes loans with LendKey to go into default. I am currently at one hundred and nineteen days, but made a payment this evening. I am also freaking out; I do not want to default, but payments are so expensive. Thanks! [link] [comments]  | ||
| Why would the amount on NSLDS.gov be different than the amount on Nelnet.com? Posted: 30 Dec 2018 07:25 PM PST On nslds.ed.gov I have about $7,000 total more loans than I do on nelnet.com. So I'm pretty confused because I thought Nelnet was who I'm repaying through, so if they aren't accounting for anything that is quite concerning. Thanks for any help. [link] [comments]  | ||
| How do I know what type of loan I have? Posted: 30 Dec 2018 03:32 PM PST I'm trying to help my mom out with her loans and possibly qualify her for PSLF as she is a school teacher. She has loans currently through Navient and the guarantor is Great Lakes, but I can't figure out what type of loans they are. When I log in and look at the details it just says 1-01 Consolidation and 1-02 Consolidation. I can't find anything different. Any help identifying what she has is greatly appreciated. [link] [comments]  | ||
| Where to apply for student loans Posted: 30 Dec 2018 11:06 AM PST I'm currently a sophomore in College going into my 4th semester. My first 3 semesters have been paid but for the next 5 semesters I will be taking out loans. I am a US citizen born and raised in Pennsylvania attending a school in New York state. I'll be needing around 17,000$ for this semester and I'm not sure where I should apply for a loan to get the best rates. Any advice to go along with my personal research is welcomed! [link] [comments]  | ||
| Please help me understand SL consolidation/refinance options Posted: 30 Dec 2018 02:54 AM PST
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| Posted: 30 Dec 2018 12:45 PM PST Basically the question, just need to hear more opinions [link] [comments]  |
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