Should I Wipe Out Savings to Finish Paying Off My Student Loans??? Student Loans |
- Should I Wipe Out Savings to Finish Paying Off My Student Loans???
- What are my options.
- Is it too late to get loans for the spring semester?
- Refinancing advice
- Student loan forgiveness
- British Columbia Student Aid Application
- Options towards School
- If I die before I pay off my student loans, who does it fall to?
- Best repayment plan?
| Should I Wipe Out Savings to Finish Paying Off My Student Loans??? Posted: 26 Dec 2018 09:44 AM PST Hey all, hope you had/are having a great holiday. I started with 38K in student loans back in 2015, down to about 9,500 now. I have just under 11K in savings at the moment, am working a solid job (~60K/yr). Option A: Use the bulk of that savings to wipe out the student loans and then start saving up again. I'd be putting myself at risk for a bit not having much in savings and would essentially be making loan payments into my savings account for a couple years anyway, so is that stupid? Option B: Continue paying 650/month on the loan, keep my savings where it is at and finish paying off the loan around early 2020. Should I just stay on my current course? Am I overthinking this? [link] [comments]  |
| Posted: 27 Dec 2018 12:09 AM PST So I'm going into spring classes Jan 14th. The problem is I need a car before then. I've been banking on the idea that there'll be some student loans I can get before classes start so that I can get a vehicle before then but I'm not quite sure. I'm in a VERY low income household. I've already filled out the FAFSA and am waiting to see if I've been approved for a Pell Grant (which I more than likely have). All I need are some student loans to get a vehicle if not I can't get to class. I can't rely on any family or friends taking me to school either. What should I do? Are there any options for me to get money before my classes begin? [link] [comments]  |
| Is it too late to get loans for the spring semester? Posted: 26 Dec 2018 07:36 PM PST First time poster! Starting college for the first time in the spring after taking two years off from high school. I submitted my FAFSA late November however have not received any correspondence from the school regarding my award letter. Classes begin on the 14th of January but the school doesn't open until the 2nd, after New Years. Just stressed that I'm unable to contact them until after the holidays and need some advice. [link] [comments]  |
| Posted: 26 Dec 2018 02:13 PM PST Hello! I'm considering refinancing my student loans, but figuring out interest is not my forte. Can you give me advice on the impact based on a couple numbers? I owe $43000, divided into 4 loans. Of the total:
I am doing income-based repayment with a minimum of $31, and in 21 years anything left will be forgiven (but with a bad tax year). I just paid off all of my other debt and am ready to tackle my student loan-- I plan to increase monthly payments to $50, and between taxes and annual bonus, drop another $4000-$7000 per year into the loan, tackling the higher interest loans first with anything exceeding my minimum payment. If I were to refinance today, it would be at 6%, and would remain as an income-based loan (same minimum payment), and I believe would rest the clock to 25 years until forgiveness. Given my above interest rates and my repayment plan, what kind of impact would I see from refinancing? [link] [comments]  |
| Posted: 26 Dec 2018 12:24 PM PST Recently money was allocated for student loan forgiveness, I have been looking for a way to apply for this directly to the recent news. Any one able to point me in the right direction? Thank you [link] [comments]  |
| British Columbia Student Aid Application Posted: 26 Dec 2018 05:31 PM PST Hey there. BC resident here. Does anyone know how the student aid applications work? I'm in my first year of uni and I got some money. On that particular application, my schooling period is just this school year. Am I supposed to reapply every year? The amount they gave me is definately not enough for me to finance the rest of my education as I'm an out of province student. Thanks guys for the help! --a very very lost student... [link] [comments]  |
| Posted: 26 Dec 2018 04:10 PM PST I have a deadline to pay for my spring semester ($2000) by January 3rd due to me not receiving HOPE this semester. This is because I received a D in an Intro to Computing which greatly affected my GPA however recived an A in both the lab for programming and in the programming lecture class. My Major is Computer Science. I am wondering what my options are. Thank you. [link] [comments]  |
| If I die before I pay off my student loans, who does it fall to? Posted: 26 Dec 2018 01:04 PM PST Say I have 500k in loans and only paid off 20k before I died in a tragic accident. I only have one living mother in her late 70s who is retired, and a brother and sister who are in their late 40s. I also left behind my girlfriend and her child. (Not married) Since I've read that your loans do not go away after death, who gets stuck with my loans? Say I had only my girlfriend and everyone else was not taken into account? [link] [comments]  |
| Posted: 26 Dec 2018 05:24 AM PST Hello all, just wanted your advice on the best repayment plan for my situation. My SO and myself have roughly $85k in federal loans. Since taking hold of our budget 1 year ago (thanks YNAB!), we have paid off all CC debt this past summer and are aggressively tackling our student loan debt with a goal of being totally free in 4 years. Our interest rates range from 3.5 to 6.8%. In the past 3 months we've managed to pay off 2 of the 4 loans at 6.8%. My loans ($40k) are currently on the extended standard loan (over 25 years I think), my SO is finishing up school this spring (we're in our early 30's) and I've been paying the outstanding interest off every month. Soo, question is, since we are aggressively hitting these loans, would it be wise to put her loans once shes graduated into the 25 year extended repayment plan as well to lower our overall monthly payments to allow us to hit the higher interest rates ones first? Apologies for any formatting due to posting on mobile and THANKS you guys and gals are awesome here! [link] [comments]  |
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