Great Lakes app now shows individual loan balances. Student Loans |
- Great Lakes app now shows individual loan balances.
- How accurate is the repayment calculator on studentloan.gov?
- If I took out a financial aid grant from FAFSA and failed a class even though I took it all the way through, will I still have to pay the money back?
- So I’m under IBR but my minimum payments don’t even cover the interest. Should I still be doing the avalanche method to payoff? Seems like maybe making minimum payments isn’t a good idea if they don’t even cover the interest.
- Do perkins loans appear on your credit report?
- Should I go PAYE to focus on Private Loans first?
- Pretty terrified...coming up on graduation with six figures
- Refinancing Advice
- Looking for a student loan
- Who are the best student loan consolidators?
- Inaccurate qualifying payment count for PSLF
- PAYE vs REPAYE
- What are some options for loan forgiveness or loan consolidation for a federal student loan?
- Gap Semester Loan Confusion?
- Need help finding good loan
- Need guidance with PSLF and refinancing.
| Great Lakes app now shows individual loan balances. Posted: 02 Dec 2018 11:33 AM PST Probably not important to 95% of you, but I always look at my balances whenever I make a payment (and more frequently, honestly) and it feels so nice seeing the smaller loans starting to disappear. [link] [comments]  |
| How accurate is the repayment calculator on studentloan.gov? Posted: 02 Dec 2018 07:32 PM PST I went in and put in my information. Everything is the same as last time I did my IBR certification except that I am having a child. I put in the third person (me, husband, unborn baby), and it calculated my monthly payment amount about $100 higher than what is now. This doesn't seem to make sense. Curious what others have experienced using that calculator. Is it accurate? [link] [comments]  |
| Posted: 02 Dec 2018 05:41 PM PST |
| Posted: 02 Dec 2018 06:15 AM PST Edit to update details: $115,000 - plan on paying off the whole amount over the next 3 years. Some loans are variable and some are as high as 6.8% interest. Will be debt free after this besides mortgage payment. [link] [comments]  |
| Do perkins loans appear on your credit report? Posted: 02 Dec 2018 09:19 PM PST I have a collection agency sending me letters, and it says the creditor is my grad school. On my credit report I have an account in collections status, and I don't recognize the name...I'm trying to determine if it's connected to the letters I'm receiving. However, the amount shown on my credit report is only about 1/7th the size of the total amount that the collection agency wants me to pay. So it's probably not the same thing. So why doesn't my perkins show up on the credit report? [link] [comments]  |
| Should I go PAYE to focus on Private Loans first? Posted: 02 Dec 2018 06:21 PM PST Hi all. I'm definitely feeling overwhelmed by this whole situation and having a tough time sifting through all the information online. I have a total of about $81,500 student loan debt. $38,00 is federal and $43,500 is private through Discover. My payments are set to start later this month and if everything stays on the normal plans I will pay about $800/month. $396 for Federal loans and $394 for the Discover loans. I'm a professional musician so my income isn't 100% stable although with the amount of teaching I do I have a pretty good idea. Last year my income was about $25,000 (was a full-time student). This year it is about $35,000 (was a student half the year). And next year it is projected to be about $45,000. I have plans to continue this growth but of course I can't definitively guaruntee it every year. Because of last years income and this years income I can apply for the PAYE plan. According to studentloans.gov, using last years AGI, I will start my payments at about $57/month. Does it make sense to take this plan and start aggressively tackling the Discover loans? Because of the interest rates I'm sure this will result in lower overall payout as well as hopefully a more manageable monthly payment when I'm forced off the PAYE plan. Here is an approximate breakdown of the Discover loans: ~$5,000 at 9.875% ~$16,700 at 5.5% ~$7,700 at 8.99% ~$14,200 at 6.74% In my savings I have enough to mostly cover that 9.875% loan while still maintaining a healthy savings. Does it make sense to pay off as much of that loan immediately? Or maybe spread it over a few months of extra payments just in case? Also I'm slightly confused about the way interest works while on the PAYE plan. I read that the government will cover the remainder of monthly interest payments of the subsidized loans for 3 years. If my federal loans are ~60% unsubsidized will this end up working against me in the long run? Sorry if any of these questions are stupid. I'm having a hard time thinking straight this week as the reality of these payments hits me. Thanks! [link] [comments]  |
| Pretty terrified...coming up on graduation with six figures Posted: 02 Dec 2018 01:32 PM PST Hi! Hopefully this will be somewhat short. With a lot of loans comes a lot of brainstorming to come up with the most effective strategy. My husband and I went to flight school. We both were able to get our private pilot licenses, but ran out of money to finish getting all the certs needed to be able to get paid to fly. To take out those loans (flight school is a trade school) we had to sign up to get a degree. We are both on the tail end of getting our bachelors but won't be able to get the wage we expected when we signed up. I knew fairly early that working at a 9-5 job would not be enough to pay off loans, buy or build a house, travel, invest, retire, and have kids. I REFUSE to be in poverty because of my student loans. My goal is to get sh*& paid off so I can live my life without financial strain. Knowing that, I quickly knew I wanted to do some sort of online side hustle so I could be free to take care of any kids we have (currently none) and have life freedom (I'm a true millennial as they say lol). So I started an online business in 2016 and was able to replace my income and quit my job of $17 an hour (really good wage in my area). Earlier this year I decided to pivot my business to building niche sites and blogs to try and get multiple passive income streams built before our loans were due. Now, nearing the end of our degree, here's what we're looking at: Gov't Loans: Direct Unsubsidized:$2965.89 @ 6.8% fixed$2831.15 @ 6.5% fixed$2393.96 @ 3.86% fixed$7150.50 @ 4.66% fixed$793.97 @ 4.66% fixed$7207.57 @ 4.29% fixed$12102.05 @ 3.76% fixed$4265.58 @ 4.45% fixedTotal unsubsidized: $$39710.67 Direct Subsidized:$3500 @ 3.4% fixed$3500 @ 3.4% fixed$1000 @ 3.4% fixed$4500 @ 3.86% fixed$4500 @ 4.66% fixed$666 @ 4.66% fixed$4100.65 @ 4.29% fixed$1233 @ 3.76% fixedTotal subsidized: : 22999.65 Private Loans: Mine:$23687.32$59551.41 Husbands:$121751.27 Overall Insane Amount of Debt: 267691.85 FML. I am so far sticking it out being self employed because I know as long as I take action I am much more likely to get a better opportunity to pay off my loans faster, rather than with a traditional job where I can't control my income and am capped where I would literally be wasting years at the job just to pay those off. I go back and forth on if I should just get a job again until my current business is back up to making a decent amount, but it's likely I'd be slowing down my progress considerably. Sometimes the best option for getting further is to take the route that is less likely. In other words, if I get a job, it could take longer to make more money than if I kept going full speed ahead on my current business. So I'm still debating but really either way it's going to take a lot of time to get to any good point to pay these down. Currently our income is at a point where we would owe $0 on our government loans on an income repayment plan. Discover won't even talk with us until the month the loans are due to give us any payment or income repayment options. I tried to get them to give me ANY information and got none. We can't refinance our loans together, so it would be my husbands separately and mine separately which is just as well. However we likely wouldn't have the income to refinance my gov't loans and private loans together since I am currently making very very little. It's a sh&# show, I know - any advice at all?? What's the best payoff amount with various student loans and interest when we have subsidized and unsubsidized? Our private loans have the highest interest at 7-9% but yet the subsidized don't have interest until the 6 month grace period - should we focus on those for the next year instead of the higher interest? refinancing/consolidation/etc? Thank you thank you THANK YOU! Edit: give clarification on my question [link] [comments]  |
| Posted: 02 Dec 2018 03:56 PM PST Good evening! Looking for some help with refinancing. Here is my situation: - 23k in debt to SallieMae. Variable interest rates, currently end up paying around $520 monthly. - 28k in debt to US gov't. Currently on income based repayment and pay $0 monthly. I am looking to refinance one or both of these debts in order to aggressively save to buy a house, a car, and move on with my life. I applied to SoFi and Earnest. SoFi denied me but still not sure why. My credit score might be too low. Earnest "approved" me but they will not take the SallieMae loans until 12/31/18, and even then I'm not sure if they will take them. I really want to refinance the SallieMae loans because the interest rate is super high and I feel as though I'm seeing enough of a decrease. Do I refinance ALL of my debt? Just the federal loans? Just the private loans? What are the benefits of each? Or other lenders? [link] [comments]  |
| Posted: 02 Dec 2018 02:24 PM PST Hello all. I currently have a year left of undergrad before i graduate. I will be done by dec 2019 but in the mean time Im looking for loans to take out. I do receive subsidized loans but I am in a predicament right now where I need money for my family and I cant wait till my next loans kick in for the new semester. Is wells fargo student loan a good idea? [link] [comments]  |
| Who are the best student loan consolidators? Posted: 02 Dec 2018 02:10 PM PST |
| Inaccurate qualifying payment count for PSLF Posted: 02 Dec 2018 01:48 PM PST I should have 19 qualifying payments toward PSLF. My most recent ECF was sent in July, so the count would have been around 14 or 15 at that time, but all of my billing statements since then say that my qualifying payments are 10 for one loan and 2 for the other. I had an issue with paid ahead status a while back, but called FedLoan and they permanently removed it, and said that I would be sent an updated qualifying payment amount. I never received one. I've called a few times to ask about it again, but still haven't been given an accurate count. How do I deal with this? I'd rather do it now than in eight years when I'm applying for forgiveness and have it come back to bite me in the ass. They make it so hard to find any solid detailed info on PSLF and dealing with issues like this, so I'm really at a loss. Any advice would be appreciated. [link] [comments]  |
| Posted: 02 Dec 2018 01:29 PM PST I graduate (again) in two weeks and am doing the typical payment research. I'm finishing nursing school this time so hopeful the PSLF hangs around for a while. My question is in regards to PAYE vs REPAYE and the October 1, 2007 rule as far as qualifying as a new borrower. One thing I read said direct loans after that date and another said federal loans after that date. Turns out, my first loan was disbursed in September 2007 but was FFEL Stafford that I later consolidated when working toward PSLF years ago as a paramedic. Does that FFEL loan disqualify me for PAYE and leave my options as IBR, ICR, or REPAYE? Or, does that loan not count since it wasn't a 'direct' loan? [link] [comments]  |
| What are some options for loan forgiveness or loan consolidation for a federal student loan? Posted: 02 Dec 2018 12:17 PM PST I see there is a loan forgiveness program if you work for the government or a non-profit, but I work for myself. What are my options? Thank you [link] [comments]  |
| Posted: 02 Dec 2018 10:34 AM PST Graduating in early December and starting medical school in August. So that's almost eight months. I want to save the six month grade period for after I graduate medical school. So I plan on staying in the grace period for five months then enrolling in a plan like PAYE, where I pay $0 monthly with a minimum wage job, for the remaining three months. If I begin PAYE plan, will the federal loans be deferred again when I start medical school? So the only thing extra that would happen to my loans would be three months of interest in my subsidized federal loans? Can I still make payments during that five months of grace period or will that kick me into repayment? [link] [comments]  |
| Posted: 02 Dec 2018 06:44 AM PST Hello. It is currently my 2nd semester at university (started last spring). I am looking for a loan to pay off some of what I owe. I currently have to pay my school about $7000 but my minimum amount due is about $3500. FAFSA gave me a lot of money this semester and I'm expected to get a lot next semester too. My family makes about 40-50k per year but my dad has really good credit. I need help finding the best loan company that can help me pay my dues this semester and perhaps for the remainder of my schooling. Thanks [link] [comments]  |
| Need guidance with PSLF and refinancing. Posted: 02 Dec 2018 08:31 AM PST I have about $65k in student loans. About $40k is in Stafford and $25k is in ParentPlus. Two years ago my dad applied for PSLF for the PP loan, but was denied. I'm not sure if we filled out the forms correctly though. I didn't attempt to apply for my Stafford due to the process being frustrating. We tried refinancing through SoFi and Citizen's bank but we were ultimately denied. I'm confused with the process of PSLF and refinancing in general. Can anyone help out? [link] [comments]  |
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