1 year of being effective in student loan repayment Student Loans |
- 1 year of being effective in student loan repayment
- Student Loans Disappeared?
- bad parent credit.
- Do I have any hope refinancing right now
- Paying off 1/3 loans? Does monthly payment change?
- New job, on IBR, afraid of new monthly payment
- An urgent issue involving the Grace period and switching schools. Need advice please!
- General Question
- Is exit counseling required?
- Currently still in college, if I started paying my loans rn would the interest start building up because I’m paying them or does it still not accrue until 6 months after I graduate?
- Haven’t paid on 20k of federal student loan debt in several years. What are my options?
- Loan discharge/forgiveness for closed program
- Sallie Mae refi help
- Student loans with no co-signer
| 1 year of being effective in student loan repayment Posted: 01 Jan 2019 01:08 PM PST Hey guys... Roughly a year ago I made a post here about how to tackle my student loans. I graduated roughly 6 years ago and when I first entered the workforce late I started as an intern and made little income. I also came from a poor upbringing so the first check over 10/hr felt great. This caused my lifestyle to inflate and sort of put my loans to the side. I went into deferment/ minimal payments thinking that this was the norm and to "blame the system" for what it was. Long story short, that wasn't a good route to go. In mid 2017 I accrued a ton of consumer debt (15k ish, note part of it was a car loan I put on a 0 percent credit card) and also had 28k in student loans. I was making a bit around 60k a year. Not the most optimal situation. I had an epiphany in mid 2017 when I started to forget to pay speeding tickets. Basically my life was starting to become a mess. Decided to spend the brunt of 2017 fixing up all the consumer debt. I took up 2 additional side hustles and knocked out all of it by the feb 2018. In 2018 I told myself that I passed a major hurdle and decided that I wanted to incorporate travel into my life once again. I only did a few trips to Europe in 2017 but wanted to continue to do more in 2018. I did realize the more I travel the longer it would take me to pay off the debts but honestly I didn't care. I kept working my side hustles and adding money into savings and debt. Long story short, I paid off 4 of my loans from 28k down to ~~18k. I got a raise up to 70k by negotiating as well....with a high possibility of it going up to 75k in March . I also went traveling to New Zealand, Ibiza , Barcelona , Amsterdam, and japan. I did it all on the cheap cheap by staying at hostels and eating street food/etc. The key thing I learned in 2018 is to just be thoughtful of my goals I set then. I wanted to travel and I wanted to take a chunk off these loans. I knew both of these goals are contradictory to each other so I needed to up my income and make sacrifices. My goals for 2019 will be to bring my loans under 8k and then by my 30th birthday in 2020 , pay them off in full. Good speed to everyone here in 2019. Be thoughtful with your decisions and goals and you'll be able to accomplish what you need. Happy new year [link] [comments]  |
| Posted: 01 Jan 2019 09:38 PM PST I logged in to my Navient account today to try to start the New Year off right by working out a deferment for my student loans, but hit an unusual snag. The site says that I have a $0 balance, with all of my separate loans showing as having been paid by "US Dept of Ed/Navient" over the course of the last two weeks. I know Navient has been caught up in multiple lawsuits recently, and have heard that the result might be that they have to pay off or forgive the loans of some of their borrowers, but this just sounds too good to be true. Does anyone have any answers for why all of my student loans have suddenly just disappeared when I know they were there a month ago? [link] [comments]  |
| Posted: 01 Jan 2019 04:21 PM PST Hello My parent have bad credit and i have no credit. Iam unable to get any loans or funding to go to collage. is their a way that i can get funding so i can attend collage? thank you [link] [comments]  |
| Do I have any hope refinancing right now Posted: 01 Jan 2019 10:13 AM PST So my current situation is that I owe the following, 48K to Sallie Mae 50k to FedLoan Servicing (FASFA) 16K for Car Loan Yearly income is about 50k right now. I have tried to refinance the sallie mae loan because the interest rates are through the roof, thanks to their rep that signed me telling me that variable interest rates were the smart way to go 6 years ago.. I have tried to refinance with Discover, Wells Fargo, and SoFi and all 3 have said no even with a cosigner. Is there any hope here, I am going to try laurel road but i dont have any faith they will accept me and I would really like to lower these interest rates. Thanks for any advice [link] [comments]  |
| Paying off 1/3 loans? Does monthly payment change? Posted: 01 Jan 2019 12:42 PM PST I've been making payments on standard repayment plan for approximately 12 months, $462 is what's due but I have been paying about $20 more per month (FedLoan). I have 3 loans: $10,400 at 6.59%, $20,415 at 5.59%, and $7,185 at 5.06% so around $37,990 total. I have family who is willing to pay off the 10,400 highest interest rate and I would make payments to them instead with no/lower interest, while continuing to make payments on the other two loans. If they were to pay off one of the loans in full, would my $462 amount due decrease or remain the same? I'm afraid it will put me in a tighter financial situation in the short term (if payment remains same) but would obviously be better in the long term. Thanks! [link] [comments]  |
| New job, on IBR, afraid of new monthly payment Posted: 01 Jan 2019 02:56 PM PST I'm a social worker, I have $103k in student loan debt. My husband has no debt. We have no other debt (aside from our mortgage). We have two kids. I am on IBR and pay $50/mo because last year I worked on-call and my hours were all over the place (as reflected by most recent paystubs when I re-certified). I just took a job with a private company making $73k/year. My husband earns about $45k. We have always filed jointly. Am I dumb for wanting a new job? I could stay where I am and possibly get PSLF in another 8 years and also keep payments lower than taking a salaried job where my income is the same each month. I literally can't sleep I'm so worried about making the wrong choice. [link] [comments]  |
| An urgent issue involving the Grace period and switching schools. Need advice please! Posted: 01 Jan 2019 04:52 PM PST Hey guys, I've got a lot of stress on my mind about my loans and I could use some advice and answers. See, back in July I got news that my previous college was closing in December, before I was able to graduate. Due to housing closing in September, I had to skedaddle right back to rural Maryland where I grew up after the summer quarter. Since I couldn't just transfer to my school's online division since they were going through accredidation, I ended up just applying for a different school altogether. So here's where my problem comes into play: I asked my loan provider if I enter another school before my grace period is up, my repayment will be postponed, and I got an answer back basically saying yes. Right before Christmas, I got an email saying I was halfway through my grace period. I started taking my new classes in November, so I was back in school for a little over a full month. I sent an email asking them about this and help for clearing it up, and I've gotten no response, probably because of the holidays. Now, a few days ago I got an email saying my loans have disbursed to my new school, so hopefully that will clear it up, but I'd rather hear this from an actual human before I feel reassured. Have any of you guys ever dealt with anything like this, and can anyone offer any advice? [link] [comments]  |
| Posted: 01 Jan 2019 09:54 AM PST So Im going to be starting school and have heard from friends that they live off of student loans for personal finance as well. I'm not to knowledgeable about the subject and was never presented with this style of loan. I was wondering if this was actually true and if so could someone point in the right direction to seek out a loan of that nature. Thank you and Happy New Year [link] [comments]  |
| Posted: 01 Jan 2019 02:36 PM PST Recently graduated back in June and was able to find a job in July. Since then, I'd been paying off some loans thru FedLoan. I don't have a lot left to pay off but my grace period ends this month. I just realized I never completed exit counseling. Is this needed before I pay off all my loans? Also, what happens after I pay off the loans? I'm just done? Appreciate any insight and happy New Years! [link] [comments]  |
| Posted: 01 Jan 2019 11:57 AM PST For reference, I took out Subsidized and Unsubsidized Loans. [link] [comments]  |
| Haven’t paid on 20k of federal student loan debt in several years. What are my options? Posted: 01 Jan 2019 11:38 AM PST Posting this on behalf of my SO. My boyfriend has defaulted on some of his loans from undergrad, which he attended from 2008 to 2012. His other loans are currently being paid by his mother. Got a letter from the department of education in February of 2018 saying that the defaulted loans were placed with Immediate Credit Recovery. This letter says he owes ~19k principal, ~3k in interest, and ~5k in fees. His last two tax returns have been seized by the department of treasury to go toward his debt. In May 2018 he requested written validation of the debt from Immediate Credit Recovery. They mailed two promissory notes stating the terms of the loans (?). No loan amounts, interest rates, etc were included. He made an account with the National Student Loan Data System which shows him owing ~20k with ~2k of interest. We would obviously like to get this debt cleared. He acknowledges that he fucked up but we just do not have the cash for this right now or anytime in the foreseeable future. He is working part time right now (hopefully moving to full time this month). I am not looking for advice stating he needs a better job or a better budget or something similar. I'm looking for advice on how to deal with Immediate Credit Recovery. Luckily, they have not harassed him whatsoever. We want to settle, not set up a payment plan. My questions are:
I have my own debt I'm aggressively paying down so me taking on his debt is not an option. We are located in South Dakota. I can provide further details if necessary. Thank you all and happy new year!! [link] [comments]  |
| Loan discharge/forgiveness for closed program Posted: 01 Jan 2019 10:45 AM PST If a school closes a program that would have resulted in a degree is there a way to discharge the debt associated with the program? [link] [comments]  |
| Posted: 01 Jan 2019 09:56 AM PST Hi y'all. I just stumbled upon this sub and I figured this would probably be the best place to try and get solid advice from others struggling in student loan debt. Also sorry in advance for formatting because i'm on mobile. I'm looking to refinance my 3 Sallie Mae loans. They have a ridiculously high interest and I'm a 23[F] trying to be more financially responsible so i'm not drowning in debt with absolutely no savings by the time i'm 30. I've only just started looking at lenders and I'm just not sure what the best options are. I have a loan with 11.5% interest and two with 9.625% interest. I'm already over paying all of my loans by a bit, but it makes every month very tight and I want to have some financial flexibility so that i'm not being choked by the burdens of this debt. I have several other loans that I pay but they're federal and are less than half of what I pay Sallie Mae. I want to be able to pay off my loans quickly while still being able to save some money and without living the biweekly "ice soup" lifestyle. What are my best options? My credit score is about a 680 and I have a perfect payment history. Thank you all in advance. Edit: Also it's very unlikely I can get a co-signer so I'm looking at whatever options would be best for a woman in my position. [link] [comments]  |
| Student loans with no co-signer Posted: 31 Dec 2018 03:34 PM PST Posting for my boyfriend who doesn't have reddit. Right now he's able to pay for community college, but next year we will be transferring to a university. His parents have horrible credit (I don't know their number but I know it's not good) and I'm assuming they won't be able to co-sign on his student loans. Right now he makes $36,000 a year before taxes. He plans on quitting soon, but I have a feeling this will disqualify him from much FAFSA or scholarship aid. Are there ways to get student loans without a co-signer? The tuition is only ~$12,000 a year. I'm worried he won't be able to go to school because he can't afford it out of pocket but he can't get financial aid or loans either. TLDR: can you get student loans without a co-signer and with limited credit history? [link] [comments]  |
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