Xmas gift this year to self: paid off 9k out of my 80k student loan debt. Slowly but surely I will get there! Student Loans |
- Xmas gift this year to self: paid off 9k out of my 80k student loan debt. Slowly but surely I will get there!
- Advice on tackling BF’s $200k+ loan debt?
- Employed while filling out FAFSA, not employed if I go to school.
- I need the money for rent, books, and supplies... how do I get it?
- Sallie Mae charging me twice in one month?
- Self Employment and PSFL. taking IBR down to $0
- Consolidating vs snowball method
- 1098-E interest not matching up
- Transfer Student Loan note to dying parents?
- Tax Q 2018 v 2019
- Does anyone else wonder if PSLF is a scam?
| Posted: 25 Dec 2018 04:06 PM PST |
| Advice on tackling BF’s $200k+ loan debt? Posted: 25 Dec 2018 10:22 PM PST My boyfriend just graduated with a master's in architecture and has about $220k in loan debt. Roughly $100k is with Nelnet at a pretty high interest rate (I think 8%), but he's going to look into refinancing as soon as he's eligible (his program isn't officially over until January 2). The other $120k sits in federal loans. I poked around a bit and saw that he could potentially apply for an IBR plan which would shrink his payment from around $1200 a month to $450 a month based on 15% of his income (he currently makes $53k, but now that he has his degree, hopes to move on to a firm making around $100k). This would free up more of his income to make higher payments on his private loan. Does anyone have advice on whether or not the IBR is a good idea? Also generally curious (though this may not be the right subreddit), has anyone here helped support their partner while they pay off their loans? We rent an apartment together and I have thought about offering to pay our full rent so he can pay off the loans more quickly. It's feasible for me, and would free up about $1000 a month more for him. I'd obviously prefer to put this money towards my own goals, but figure this may be best long term. Since we are not currently married, we would write up a contract stating he would pay me back if we choose to part ways. Would love to know if anyone else has ever done something like this and if you would advise it! [link] [comments]  |
| Employed while filling out FAFSA, not employed if I go to school. Posted: 25 Dec 2018 01:57 PM PST I am currently employed and make a good salary. However, I fear this will work against me as I want to get my graduate degree next year but would be doing so full time. The catch is that when I fill out FAFSA I will be employed but I will not be employed at the time I go to school. I filled out the projected FAFSA calculator and it said I'd only be able to get about 1/3 of what I need for school. I am completely self-reliant and don't have any family to rely on for assistance. Does anyone have any idea how to make this work a tiny bit more in my favor? Is there a way to fill out FAFSA with the projected household income at the time of going to school rather than the very point in time of filling out FAFSA. I apologize if this is a common question, I searched through the subreddit for this topic but didn't find anything. Thanks everyone! TL;DR: Good income when filling out FAFSA but will have no income when in school so FAFSA doesn't seem accurate. [link] [comments]  |
| I need the money for rent, books, and supplies... how do I get it? Posted: 25 Dec 2018 07:48 PM PST I think this is a unique situation. I work full-time for a hospital that pays my tuition, while I pay for books and lab fees myself. (They currently reimburse me for my pre-nursing classes at community college, but when I begin nursing school, they'll pay in advance before the semester starts.) I don't know how the FAFSA will affect all this once I do it. When I start nursing school in September, I'll have to work part time at the hospital and I won't be able to afford my rent, bills, supplies (uniforms, stethoscope, etc.). I'm thinking I'll need a $5k-10k loan to sustain myself for the 16 month nursing program - but I don't know how any of this is going to go. Is FAFSA even going to offer me anything since my tuition is taken care of? Can I use the federal loan for my living expenses or are they disbursed directly to the school? Would the school give me a refund after my job pays them the tuition? Or is this all private loan territory? I already have a bunch of debt from a previous degree, if that makes a difference. I'm not paying it back currently since I'm a student again. [link] [comments]  |
| Sallie Mae charging me twice in one month? Posted: 25 Dec 2018 08:05 PM PST So for the month of december, i owed $391.91 and i decided to pay it off early by two weeks. Fast forward to today, im being charged through their auto debit system for the principal/interest on my loans that i already paid off for this month. Why? [link] [comments]  |
| Self Employment and PSFL. taking IBR down to $0 Posted: 25 Dec 2018 06:28 PM PST I started looking at my 2018 taxes on Xmas cause I'm a glutton for punishment. I'm a Anyone done this or have have experience with this? Thanks! Merry Christmas! [link] [comments]  |
| Consolidating vs snowball method Posted: 25 Dec 2018 05:28 PM PST So I recently graduated and heading towards my first payment. I have about 28k with Nelnet and 60k with parent plus loans. As the title suggests I'm looking into either consolidating all of them together or simply using the snowball method and paying of the highest interests ones first. I make average take home pay and qualify for an income based repayment plan and want to keep that perk of the federal loans, I am not looking into refinancing them just yet. I'm really lost and just looking for advice on this topic also I read that if you don't pay the loans they will go into default (edited) and show up on your credit history for 7 years then they just get dismissed, is that true?? on mobile sorry for all they typos and grammatical errors**** Edited due to correction :) ** [link] [comments]  |
| 1098-E interest not matching up Posted: 25 Dec 2018 07:23 AM PST So I just finished paying off my loans today as a Christmas gift to myself. I was looking back at my 1098-E from 2016 and 2017 and the payments I have made on my two loans over the 2.5 years since I've graduated. I cant seem to reconcile the interest on my 1098-e and the interest shown in my interest payments in 2016 and 2017. Not really sure how to account for the interest capitalization, but that is prolly why 2016's numbers are off slightly since that's when my repayment started. My numbers for 2017 with no capitalization are off by about double on the 1098-e from what I thought I paid. Any help is appreciated. numbers can be provided. [link] [comments]  |
| Transfer Student Loan note to dying parents? Posted: 25 Dec 2018 04:13 PM PST Can you hypothetically transfer your student loan debt to a dying parent so the note dies with them? If the answer is yes, let me know so I could post this on the Unethicallifeprotips subreddit. [link] [comments]  |
| Posted: 25 Dec 2018 06:08 AM PST I'm about to drop a little over 5k to pay off a loan with sofi, are there any benefits to doing this before Jan 1st or after? I am already well above the $2500 in interest paid for the year. [link] [comments]  |
| Does anyone else wonder if PSLF is a scam? Posted: 25 Dec 2018 05:36 AM PST Everyone has seen the rejection rates of 99% of course but I recently read an article about a father who had been paying on his loan for well over twelve years when the Department of Education told him that he needed to consolidate his loans to be eligible for the program and receive forgiveness. That action reset the clock back at least 4 years, I think. They also told him that by the time he is eligible to reapply for forgiveness, the funding for the program will have likely run out. Many people on this sub seem confident about forgiveness but I'm not sure it's possible. I have a great suspicion that the government will turn around and collapse the program before the majority of people who are on it can actually benefit. And what would be the consequence? The government is holding all the power in this situation. What really worries me is the idea that this is about money. Our society is built around the circulation of money. And think about all that can be done to force you to pay your loans. They can garnish your wages, garnish your social security, run your credit, etc. Essentially ruin your life financially, and therefore your life. It seems odd that anyone would forgive debt. I think it may be true as a friend told me: there is no such thing as student loan forgiveness. [link] [comments]  |
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