I need help. No co-signers, only fair credit. Student Loans |
- I need help. No co-signers, only fair credit.
- Does my monthly payment automatically readjust?
- Question(s): Cons to leaving IBR
- Advice on Loan Payment Being Taken While on Repayment Assistance?
- Advice on Tackling Parent Plus Loan Debt
- Beneficial to not recertify (REPAYE)?
- Snowball vs Avalanche vs What I’ve been doing
- Payment due while refinancing/anyone with experience with Advantage Education Loans?
- Paying Off Loans Early?
- Pros/Cons of Consolidating Loans
- Need guidance with what loan to get?
- Anyone else having issues logging into Navient this week?
| I need help. No co-signers, only fair credit. Posted: 01 Dec 2018 07:17 AM PST I have talked about my situation here. https://old.reddit.com/r/StudentLoans/comments/9y4myf/im_in_need_of_desperate_help_to_finish_school/ Long story short, I am a cancer survivor and went through medical withdrawal last spring because I had some unresolved trauma and anxiety. I want to finish school but I have to pay 5k back due to me falling below acceptable credit completion since I had just transferred to this university at the time. My savings are low because my dad was out of work and I was helping him out, ontop of Community college expenses. My credit score is 632, I make about 18k a year now. I have been building credit for about 2 years now and I have NEVER missed a payment. My credit score is low due to high utilization since I have been trying to help my dad out on his medical leave as well as my cc bills, which are now totally paid off. I tried to get my money owed to the school pushed back to be paid at a later date, but they have told me it is past the deadline for exception appeals. I have talked to them since the beginning of summer and this is the first time they had even made mention such a thing existed, but they are bad at communicating. That's besides the point because ultimately I put myself in this mess. One thing they suggested was Sallie Mae prior term balance loan. I have applied to Sallie Mae before and they have rejected me because I don't have any cosigners, but I can EASILY make the $25 month payments, in fact I could easily pay double that. Would calling them and giving them my case at all help my chances? I'm afraid to do so because I don't want them to do a credit check and dock my credit score, because it's already only fair. I'm really desperate to go back to school. This has been taking a toll on me and I really don't want to have to go back and transition and do the whole "been out for a long time and now I'm back" thing. I've already had to take almost 2 years off due to illness and I am 23. I'm just tired of this and want to be back in school. Any advice helps. Thank you. [link] [comments]  |
| Does my monthly payment automatically readjust? Posted: 01 Dec 2018 06:24 AM PST I use Nelnet for my federal loans grouped A-G, and have scheduled a payment for Monday December 3rd that will Pay off two(Group F and G) loans totaling about $65 or so a month. Since these loans will be paid off will the monthly required payment now be $65 less? [link] [comments]  |
| Question(s): Cons to leaving IBR Posted: 01 Dec 2018 01:24 PM PST I have approximately 33k at 6.0% that has been in IBR for about 5+ years. I'm married filing jointly with an AGI that is expected to increase to about 130k in the next year from 100k. Partner is also on an IBR. Payments are about 400 per month for mine. So, I have some questions I am at my wits end from trying to figure out.
Thanks! This reddit is super helpful, promised I perused before asking and read the resources on the right! [link] [comments]  |
| Advice on Loan Payment Being Taken While on Repayment Assistance? Posted: 01 Dec 2018 03:12 PM PST Hey guys! I'm just wondering if you could help me out and give me some advice/insight. Here is my current situation: I am currently living in Ontario, Canada. I graduated in May of 2016. After graduation I quickly got a job at a Non-profit organization. However, I don't make much money (roughly $24,000/year) and because of this and the fact that I have a dependent, I applied for repayment assistance twice and was approved. My most recent period of repayment assistance expired on October 31st of 2018. So, I applied again. However, despite having applied yet again for assistance, the National Student Loan Centre pulled a massive loan payment out of my account yesterday night. This is concerning because I was told by a loan agent that the centre cannot pull any payments from my account as long as my application was in process which it should be because I submitted one between the 1st-5th if this month. I tried calling the loan hotline but they're closed until Monday. I am just very stressed and anxious. The pulling of this payment has devistated me financially, has anyone been in this situation before? [link] [comments]  |
| Advice on Tackling Parent Plus Loan Debt Posted: 01 Dec 2018 11:15 AM PST Hey guys, I'm eager to get any advice and input on this financial situation I've been in. My parents took out parent plus loans for my brother and I to go to college. The loans together as of now amount to roughly 145k which is certainly not something to sneeze at. I'm currently teaching English abroad and I'm able to put away at least 1000 a month on it, but my parents are only currently able to put away 600 a month. My question is, with many of the individual loans having quite the high interest rate (close to 8%) what's the best way to tackle this debt and get to a manageable position with it? For example, if we could get it below 130k we could potentially refinance with Citizens under a lower fixed rate (or variable if that's wise). Would refinancing part of the debt be a good idea just to get lower interest overall? And what's the best way to start with that? I'm not proud of where the debt currently stands but I'm eager to get any advice so I can use the money I save as effectively as possible. The tricky part is dealing with interest, so I'm trying to get as close to 2000 a month as I can at the moment. The biggest issue is the growth with interest; basically we currently see an increase of close to 30 dollars a day in unpaid interest between payments meaning if we pay 1000 it's barely a scratch and if we pay 1500 it's really only a roughly 6000 dollar dent in a year. There are two parent plus loan accounts (my brother and I) and loans of varying interest rates. It currently looks like this, just to give a snapshot of the interest rates and number of loans: -20,275 7.9% interest rate -18,902 7.9% -8,048 7.95 -8,472 6.41% -14,260 7.21% -2,738 6.84% -9,150 6.84% account two: -19,278 6.4% -8,904 7.21% -14,684 6.84% -19,297 6.31% I know it's quite the sum to deal with but I appreciate any advice and input on the best way to efficiently tackle this debt and making the best use of what I save and put in monthly. [link] [comments]  |
| Beneficial to not recertify (REPAYE)? Posted: 01 Dec 2018 11:12 AM PST Is it ever beneficial to not recertify loans that are currently on the REPAYE plan and let the monthly amount revert back to whatever the default amount is? In my case, since signing up for REPAYE last year, I got married and with our combined incomes, I fear that my monthly amount on REPAYE could possibly be worse than letting it revert back to the standard amount. Ideally, I'd like to have the least amount of money due each month and then I can direct more money to the highest interest loans each month on top of the minimum amounts due. [link] [comments]  |
| Snowball vs Avalanche vs What I’ve been doing Posted: 01 Dec 2018 08:10 AM PST So last night I just heard of the two terms of snowball and avalanche methods when it comes to paying back loans. I had never known these methods and wonder how stupid I have been when paying back my loans. I have three loans currently outstanding 19k, 12k and 16k. The 12 and 16k loans have a lesser interest rate than the 19k one, I believe not sure because sallie Mae is down. My estimated payments between the three of them total 650/month (there separate so it's like 160,200,240). I've been 1,000 towards them (333 each) should I switch my method and pay two minimum payments and then allocate the extra Monday to one specific loan? Any advice is appreciated! [link] [comments]  |
| Payment due while refinancing/anyone with experience with Advantage Education Loans? Posted: 01 Dec 2018 12:26 PM PST Hey everyone, I owe about $80k in several private student loans and was able to refinance an average of 7% interest to 5.12% with a co-signer through Advantage Education Loans. I'm kinda weirded out because there aren't too many reviews about this lender but I found it through credible. My grace period is ending, I have a $900 payment due with my previous lender in 5 days but the new lender won't be disbursing funds until 12/14. What happens if I make the payment? Would I get the $900 back either from the first or current lender? Should I call to see if I can postpone my payment and how difficult would it be to delay it for a few days? Thanks in advance [link] [comments]  |
| Posted: 01 Dec 2018 11:39 AM PST I have 2 subsidized loans, each of $1,750. In total I have $3,500 of debt in student loans. I won't be needing anymore of them for the remaining of my college life. In fact, I'll most likely be graduating at the end of next year (fall 2019). My question is, I currently am in a pretty good spot in life and my career where I'm able to pay off my loans if I wanted to start now. What are your recommendations for this? I have a Mint account, and I always see there that my credit score is being positively impacted because I'm holding onto these loans for a while now. I also am not sure if by me paying off my loans early I'll be able to avoid the interest since I'll be paying while I still am in college. Or do the loans start gaining interest as soon as I start paying them? I'd like to start paying them off, but if it makes no difference if I start now or when I graduate, and my credit can still benefit from holding off on them, then I guess should just wait till I graduate? I have a Nelnet account and already see the options to make payments, but I'm not sure what will end up getting affected if I start now or later. Any benefits for taxes to start paying off loans early too? Just need some advice and thoughts. Thanks! [link] [comments]  |
| Pros/Cons of Consolidating Loans Posted: 01 Dec 2018 10:44 AM PST Have several different federal loans (over 10). Beside the obvious, with that being do it if you can get a good interest rate. What are the pros and cons of doing so or not doing consolidation? Appreciate the advice!! [link] [comments]  |
| Need guidance with what loan to get? Posted: 01 Dec 2018 08:50 AM PST Hey everyone, So I owe around $3,500 for the winter semester at school and I don't have the money. I'm considering going through Discover Student Loans but I have no idea which to pick? For variable rate I can pay interest only while in school at $35/month, at 8.390% interest rate For fixed rate I can pay interest only $41.36/month, at 9.740% interest rate I've tried asking my parents for guidance but they just keep telling me not to get a private loan. I don't get a lot from FSA (I am doing a second bachelor's) and I'm in a nursing program so taking time off to work full-time is not an option. Should I do fixed or variable? Either way I know I'm fucked in the end but I guess that's what it takes to get a career now. [link] [comments]  |
| Anyone else having issues logging into Navient this week? Posted: 30 Nov 2018 10:07 PM PST Third time trying to log in and pay my student loans this week and the login box is displaying: " We're sorry -Account access is temporarily unavailable. Please come back later and try again. " Same message regardless of browser. Any ideas on how to get around this idiotic message? [link] [comments]  |
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