My holiday gift to Great Lakes? 5k :'] Student Loans |
- My holiday gift to Great Lakes? 5k :']
- Rant of the day!
- Income Driven Repayment and Marriage
- Will paying off unqualified loans influence our IBR amount on those that do?
- I need help please advise.
- Loan rehabilitation and marriage
- Pre or post tax 403B while paying IBR student loan payments
| My holiday gift to Great Lakes? 5k :'] Posted: 22 Dec 2018 01:05 PM PST Just made an extra 5k payment today (on top of my 2600 monthly) toward my loan! Been saving for months to make a lump sum payment and I'm so excited I made my goal of 5k for this year! Today also marks my '1 year left' date. By this time December 2019 I'll be debt free of my 100k. Just wanted to spread this news with this sub which has always provided me some solace in a world surrounded by people who dont know what this debt feels like. You're all incredible and inspire me daily with your stories! My one hint to share: Dont grow attached to your money. [link] [comments]  |
| Posted: 22 Dec 2018 12:38 PM PST I'm so sick of people telling me because I live at home I should have tons of money saved up or should be able to afford things like going out, new clothes or a purse. I live at home to pay my loans!! 1 paycheck a month goes all to loans. I'm not rolling in the dough because I don't pay rent. I'm not living here because I want to. I'm living here so I can pay my loans faster. Ugh. End rant. [link] [comments]  |
| Income Driven Repayment and Marriage Posted: 22 Dec 2018 01:59 PM PST I'm getting married next year and have major concerns about how it will impact my IDR plan and student loan payments. I already feel absolutely hopeless about my loan situation and I'm worried that it will stop me from moving forward with my life. To give you some background: My current income is $33,500 a year. I've been out of school for about 2.5 years Private loans: approx $33,000 Federal loans: approx $21,000 Fiancé makes $43,500 a year Private loans: approx $7,000 Federal loans: approx $5,000 Combined income once married: $77,000 I lived with my parents right out of college and managed to get 70k in loans down to the 55k I'm stuck with now. I also used a good portion of my savings to put a down payment on the condo we now own. Buying the condo was also probably not the best idea in terms of paying down the loans, but I had to get out of an abusive home situation. Right now, we are living within our means and everything seems to be going smoothly. Not a lot of spending money or savings, but the bills are paid and we are happy. However, once married, our joint income jumps to 77k. This terrifies me in terms of IDR loan payments. We both pay our loans separately. I was incredibly stupid in taking out that much money for my degree and I own that responsibility. I will never make 70k as a graphic designer. I know this was a horrible decision and I live with the consequences of it everyday. I only have about $250 each paycheck to live off of once bills are paid. There's no room for personal savings and if my IDR plan goes away I will not be able to afford my loan payments. My fiancé has offered to help if he can but money is still incredibly tight. Does anyone have experience with tackling federal loans once married? I've heard that it's possible to file "married - filing separately" to make sure only my income is considered for renewal with the plan. Would it be better to try and go on an extended repayment plan and receive the benefits of doing taxes jointly? I can't help but feel like there is no hope and we've even considered if we can afford to be married. Infertility issues also run in my family and having a child is something I have always wanted. I'm worried the more the loans impact us and the longer it takes to get settled, the chance of not being able to have children increases. Does anyone have any advice with how to move forward? [link] [comments]  |
| Will paying off unqualified loans influence our IBR amount on those that do? Posted: 22 Dec 2018 03:21 PM PST My husband is on the public service forgiveness program for his 110k loans. My federal loans for 27k don't qualify for forgiveness. By aggressively paying my loans off only, will this influence the amount we pay on his IBR, or is it viewed separately? [link] [comments]  |
| Posted: 22 Dec 2018 04:02 PM PST I just found out that this past semester was not paid for. This means i cannot register for the next semester until it is which starts January 7th. I already have a house at school that i rent and cannot break my lease. My parents did not complete the paperwork that I thought was done and i also have no financial aid due to other paperwork being neglected. As of now, my parents cannot cosign a loan and i need a $10,500 loan by the start of the semester. I dont know what to do and i dont even think i can go back to school. This is overwhelming and i cant find out how to get a loan in my name or some other way to pay for this but please any advice is appreciated. Note: i understand now that i should have more control and knowledge of whats happening with my own finances and i cant put all the blame on my parents. I just want to enroll. Thanks in advance [link] [comments]  |
| Loan rehabilitation and marriage Posted: 22 Dec 2018 12:35 PM PST I recently found out my loans have been defaulted. Dad failed to keep me in loop. I can pay on these no problem but when I contacted the collection agency they claimed that since I was married it was based off our joint income. We just got married and file taxes separately. Should the rehabilitation be based on our joint income? Or solely based on my current tax filing? [link] [comments]  |
| Pre or post tax 403B while paying IBR student loan payments Posted: 22 Dec 2018 01:31 PM PST I tried posting this in r/personalfinace, but it got buried 3 pages back in the blink of an eye without response. I'm 30 years old. I have student loans currently on IBR, planning to utilize PSLF (7 years to go! lol). This last year I contributed solely to post tax 403B accounts through my work. I heard on a podcast (guest speaker on listen money matters) that people utilizing IBR should contribute pre tax to retirement accounts to lower taxable income, and therefore student loan payments. Roughly, if I were to contribute 10% pretax to my 403B, then my taxable income would be 10% lower. My loan payments the following year would be based off an income that is 10% less than this year (if my income doesn't change). On the other hand, I've also heard that it's beneficial for younger individuals to contribute post tax to 403B accounts. Does the pretax logic make sense? Am I missing something? tl;dr: should one contribute pre-tax or post-tax to 403B while paying IBR on student loans [link] [comments]  |
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