$35k in Student Loans, Need Advice on Best Approach to Erasing This Debt Student Loans |
- $35k in Student Loans, Need Advice on Best Approach to Erasing This Debt
- Borrower Defense to Repayment: Share your story please.
- Is there anyone that’s active duty?
- Need help with loan disbursement
- Erase erroneous loans from credit score report/history?
- Tax Return while in Default? Need the money? Can you get it?
- IBR to REPAYE Timeline
- Financial Preparation Service legit?
- Where did my private loans go??
- Nelnet r
- Promissory note and bill summary dont match
- How should I tackle loans?
| $35k in Student Loans, Need Advice on Best Approach to Erasing This Debt Posted: 29 Jan 2019 11:34 AM PST I feel like this is the biggest financial mistake of my life. I placed these loans into forbearance for the last 5 years, thinking some financial windfall would occur with my side business. In 2000, I consolidated when interest rates were high at an awful 7.5%. As I recall, Nelnet called relentlessly, and my 27 year old country ass didn't know better, so I agreed to consolidate. Now I am 42 with a wife and child, and I am staring this debt in the face. Due to medical issues from last year, we are in a tough position financially, and I am trying to get us on our feet. I make a decent living, but there is little room in my budget right now for the $220 owed monthly. Quick breakdown of the facts: Group I is at 7.5%, with $24,599.45 owed. Original balance was $14,889.64. (Federal Subsidized) Group J is also 7.5% with $9,952.45 owed. Original balance was $5,929.87 (Unsubsidized) Someone at Nelnet suggested that I contact the department of education and do another consolidation, perhaps at a lower interest rate. Would this be yet another mistake? (Since Nelnet has deceived me about my best interests in the past.). What are my best options? Thank you in advance. [link] [comments]  |
| Borrower Defense to Repayment: Share your story please. Posted: 29 Jan 2019 10:11 AM PST I have a Borrower Defense to Repayment application that is, at this point, older than both of my children. Every time my adminstrative forbearance runs out, I call FedLoan and they check on that application for me. It's always "still under review." My ITT degree cost more than it was worth, and so I do not make enough money to make even the minimum payments on those loans - and so back into adminstrative forbearance I go. I know the interest is racking up. I know I'm not doing myself any favors. But between "bankruptcy maybe someday" and "bankruptcy certain within 6 months" I have to take the first option. I guess I'm reaching out to see if anyone has seen their application move through this system. Even FedLoan Servicing tells me the DoE won't tell them anything. [link] [comments]  |
| Is there anyone that’s active duty? Posted: 29 Jan 2019 11:36 PM PST Wondering what resources you've used to deal with student loans [link] [comments]  |
| Need help with loan disbursement Posted: 29 Jan 2019 09:57 PM PST Im not sure if this is the place to go or not for this question. I'm gonna talk to a financial advisor tomorrow about this, but im not sure how to do so without getting into any trouble. I go to a community college, and I'm planning on dropping out of a class. The timeframe to drop out of a class without any repercussions has already passed, so if I do so there will be consequences of some sort. My classes totalled to $1700. My Pell grant gave me $1400, and i used a little bit of a student loan to pay off the remaining balance of $300. The class I want to drop costs $500, and my financial aid refund should be about $900. From my understanding, if I drop the class, i have to pay the school $500 out of my loan refund because the pell Grant covered the class. However, I have heard rumors that if I wait until February 15th (the date of my financial aid refund) to drop the class, I may not have to pay the $500. How true is this rumor? I want to speak to an advisor tomorrow, however if they find out I'm trying to find a way out of paying them $500 they may not be too happy about it. Is the rumor true at all, or do i have to pay the $500 regardless of when I drop the class? Any help would be appreciated. [link] [comments]  |
| Erase erroneous loans from credit score report/history? Posted: 29 Jan 2019 12:58 PM PST I recently met with someone from a major U.S. bank in regards to a preapproval process and whatnot for loans to purchase a home. During the whole discussion, he ran a credit score check and he told me that although it hasn't affected my score yet, I have around $13k in loans I'm supposed to pay off to OSLA (Oklahoma Student Loan Author) and it has been accruing interest the last several months. It caught me off-guard since I never accepted any loans for college (nor for anything else) and I have never received any email nor paper mail from them. I talked to OSLA's customer service and they told me they had nothing under my name in their database, and I even checked my official federal student loans account which also confirmed 0 loans. My question is how do I go about disputing this error & getting it erased from my history? OSLA said they can't really do anything because there's nothing under my name on their database, and I tried disputing via a credit score site like Credit Karma but there's no mention of it on their site as well. Thanks in advance. [link] [comments]  |
| Tax Return while in Default? Need the money? Can you get it? Posted: 29 Jan 2019 04:53 PM PST |
| Posted: 29 Jan 2019 11:36 AM PST I submitted my request to switch from IBR to REPAYE back in October. Fedloan didn't put me into forebearance until January so I only made by $5 payment two weeks ago. A few days after making my payment, my interest capitalized and my account showed the standard repayment. I called fedloan 5 days ago to see when I can expect to get notice of my new payments under REPAYE and the rep said it could take two more months. She also said if my February bill generates with the standard repayment I should turn off auto debit and let the payment go past due until my application is processed at which point they will fix my statements. This does not seem accurate to me and I am uneasy about letting my bills go past due. Have other people had this experience when changing from IBR to REPAYE? [link] [comments]  |
| Financial Preparation Service legit? Posted: 29 Jan 2019 02:35 PM PST They propose they can do this: Federal Loan Forgiveness Program that will lower your $47,249 Nelnet Loans to $8925 by paying $207 for 6 months and then $32/month for 240 months. Is this a scam? I've read elsewhere you are paying them to file paperwork. If so, what paperwork? Would I save money doing it myself? If so, how? Looking for some honest advice. Link to their website: https://financialpreparationservices.com/ [link] [comments]  |
| Where did my private loans go?? Posted: 29 Jan 2019 01:47 PM PST r/student loans My credit report only shows my delinquent Federal Student Loan, NOT my private loans (Over $100k in those). I had a Chapter 7 bankruptcy that was discharged in 11/2017 and I am wondering if this is just a happy accident that they were removed as well? or will they come back and hit me all at once at some point? I have checked all 3 credit reports - they aren't there. But I do still get periodic letters and phone calls from Navient. What's the deal? [link] [comments]  |
| Posted: 29 Jan 2019 11:00 AM PST Nelnet is in the processing of becoming my direct loan consolidation servicer. Any advice on dealing with these guys? I've read some really scary complaints about them. [link] [comments]  |
| Promissory note and bill summary dont match Posted: 29 Jan 2019 06:56 AM PST New to this sub and need advice. I'm applying for a grant for my student loans. It requires a copy of the current billing summary that includes the original approved loan amount, interest rate, and current balance. Then also requires the copy of the original promissory note. As with everyone's loans mine were transferred from Sallie Mae to navient. On Two of the loans the original approved amount on the billing summary and promissory note are not the same. (Ex. Bill summary approved loan amount says 3752.00 and original promissory note says 5000). Is there a reason/explanation/screw up with transfer from Sallie Mae to navient? I'm hoping this doesn't negate the grant application. Any advice on how to handle this? [link] [comments]  |
| Posted: 28 Jan 2019 08:25 PM PST Sorry if this is an obvious question. Feel free to just point me to a link if need be! I just started at a full-time job finally so, I'm able to tackle my loans. I have near to 40K in student loans, all through FASFA. I tried to avoid private loans at all costs. What would be the best way to tackle my loans? Pay all of my interest off first, tackling one specific loan because it's less or more money, or dealing with the one with the highest interest rate? Or a combination of all potentially? Thank you advance! EDIT: small edit while I'm thinking about it. Would people recommend auto-paying towards loans or actively going in and checking payments? [link] [comments]  |
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