BREAKING: Nearly 180,000 Students Won't Have To Repay Loans From For-Profit Higher Ed Company Student Loans |
- BREAKING: Nearly 180,000 Students Won't Have To Repay Loans From For-Profit Higher Ed Company
- Student Loan Servicer offered to pay off the full balance of the loan for 10% of the balance, Is this real?
- I see the light at the end of the tunnel!
- Student Loan Grace Period
- Defaulted on my loan without knowing?
- I want to pay my student loan in bulk
- Is anyone else here repaying loans while living/working abroad?
- Can anyone receiving SSDI be guaranteed to get a discharge on their student loans?
- Advice on how to spend financial award?
- When you have a windfall: how come people advise to not pay off the loan and invest instead?
- Does interest after capitalization count towards tax deferment?
- Student Loans - 33 year old trying to finish degree
- Not able to refinance Nelnet loan
- Exit Counseling
- Why pay my loans? Serious inquiry.
- Loan defaulted, debt not on credit reports or NSLDS.
- Urgent: Pell Grant, Gap years and 6 Year limit
- Big monthly payment, balance isn't too high (Navient). Refinance?
- Hope for Defrauded Sanford Brown Students
- What is admin forbearance?
- Question about potentially paying of federal loans before private loans
- Wife and I have 220K student loans
- To Refinance or Not?
- How many different loan servicers do you have?
- Same Income year to year, but IBR monthly payment went up over 60%?
| BREAKING: Nearly 180,000 Students Won't Have To Repay Loans From For-Profit Higher Ed Company Posted: 03 Jan 2019 05:43 PM PST So uhh... I went to one of the colleges listed in this settlement (Brooks Institute). My loans are Stafford Subsidized... so I'm thinking this doesn't include me? Does anyone know? Trying not to get my hopes up... at this point I'm 77% paid off on my loans, but hey if I can zero out an $8k debt soon that'd be nice. [link] [comments]  |
| Posted: 03 Jan 2019 04:10 PM PST I reached out to National Enterprise Systems to see about getting my Navient loans current for the new year. While I was on the phone with them they initially told me that I could pay off the balance of the loan for 50% of the total balance, then after saying I couldn't pay that then they dropped to 15% of the balance, then finally got all the way down to 10% of the total loan amount. When I told them that I couldn't pay that amount they finally said that I could pay 2% of the total loan upfront then pay off the remaining 8% over 100 Months. I told them that I would be interested but I needed everything in writing, which they actually sent me. At this point, I have to contact them tomorrow with a yes or no. I am just not sure whether or not this is Legit. Has anyone had experience with something like this, the research I am doing is all from years ago, so I am asking the Reddit collective? Edit: just sliced part of my finger off and I'm bleeding a bit but I want to update this for people asking. I am in default with these loans. I called Navient to start getting my shit together and they referred me to NES. I called them. My credit is around 570-580 and I haven't paid on my loans in 10 years, overall I have made bad financial decisions my whole life and I am trying to fix that now. [link] [comments]  |
| I see the light at the end of the tunnel! Posted: 03 Jan 2019 05:21 PM PST I'm 36, and still paying off my undergrad and graduate student loans. I've paid off a fair amount, but have just under $50,000 to go. I refinanced to a 5 year loan with 4% interest, and I am so excited! I'm in a position where I can afford the higher monthly payment (and I have steady employment), and now I KNOW my loans will be paid off in five years. I feel like a huge weight has been lifted from my shoulders! [link] [comments]  |
| Posted: 03 Jan 2019 08:29 PM PST Hello there, I have a quick question about student loan grace periods. I already tried asking my servicer (nelnet) the same question multiple times but their customer service reps are basically useless. This past semester I dropped below half time, so I entered my grace period. I plan on returning to at least half time for the upcoming spring semester, so my loan payments will be deferred again. My question is if I drop below half time for summer semester after going to school full time in Spring semester would my grace period be restored to 6 months or do I lose the months of my grace period that I already used when I dropped below half time this past semester? Sorry if this question is confusing. Thanks in advance. [link] [comments]  |
| Defaulted on my loan without knowing? Posted: 03 Jan 2019 08:00 AM PST I just received a letter saying I have defaulted on my student loan. This is the first correspondence I have received regarding my student loans. No phone calls, letters, or emails. Does this sound right? I was sure I would have gotten something before this. I have now called the department of education 4 times and have been disconnected every time. I will keep calling but any other advice would be appreciated. Thanks! [link] [comments]  |
| I want to pay my student loan in bulk Posted: 03 Jan 2019 11:28 AM PST |
| Is anyone else here repaying loans while living/working abroad? Posted: 03 Jan 2019 08:11 PM PST |
| Can anyone receiving SSDI be guaranteed to get a discharge on their student loans? Posted: 03 Jan 2019 11:28 PM PST My father has a parent plus loan in his name that was used to pay for some of my college. He currently is receiving SSDI (Social Security Disability Insurance). Does this mean that he has "Total and Permanent Disability" and can apply for the TPD Discharge? The provider is Navient, and they provided the link below for further information. I don't think he's "totally" disabled unless their definitions are different than what I'm thinking as he isn't in a wheelchair https://studentaid.ed.gov/sa/repay-loans/forgiveness-cancellation/disability-discharge Along with that, if he is qualified for discharge, would it be possible to get back pay for payments made after he was disabled? This would mean literally all payments on the loan as he has been receiving disability since before I graduated high school [link] [comments]  |
| Advice on how to spend financial award? Posted: 03 Jan 2019 07:36 PM PST Happy new year all! I'm fortunate to have received a $40k award by a future employer and am mulling over how best to spend it. I am in business school and have just over $100k in undergrad and business school debt. Assets: I currently have $20k in a money market account which is about 6 months of living expenses. I usually keep $2k in my checking and earn about $700 a month in passive income while I'm in business school. Liabilities: I have 7 student loans totaling $105k (including interest) dating back to undergrad in 2005 which I had been diligently paying off for close to 10 years. Now that I'm back in school interest is accumulating again I'm debating whether to: 1- apply the entire award to paying down loans, period. 2- devote half to paying off loans with the highest interest and invest the rest long term and/or add to my savings. Any and all responses would be helpful. [link] [comments]  |
| When you have a windfall: how come people advise to not pay off the loan and invest instead? Posted: 03 Jan 2019 07:32 PM PST I am expecting to receive a windfall and most advice I can find online suggests I invest instead of pay off loans. Why? Isn't it possible investments could go bad, you have to pay a lot of taxes on capital gains, and student loan interest rates could go up? Also, what about inflation? I'm wondering why the standard advice isn't to pay it off right away and instead keep making monthly payments. Honestly, I know it's obvious I've already made up my mind here but I'm genuinely curious why people seem more optimistic about investments instead of becoming debt free. My student loan interest rate is around 5% and I feel that it seems risky to invest instead of paying off the loan. [link] [comments]  |
| Does interest after capitalization count towards tax deferment? Posted: 03 Jan 2019 02:28 PM PST After capatilaztion will the interest that has acrued and now capitalized be tax deductible on future payments? Or since it's now capitalized it is principal and not tax deductible? And if it cannot be tax deductible after capitalization, I should probably payoff interest before capitalization to maximize tax deduction if possible. [link] [comments]  |
| Student Loans - 33 year old trying to finish degree Posted: 03 Jan 2019 02:10 PM PST My wife is trying to go back to school to finish her degree. She is several classes shy of her Bachelors Degree so it will cost a few pennies. I work, and she has been staying home with two small children of ours. Is there any AGI limits for what we will qualify for to get loans for her to finish school? I want to support her going back to school, but I don't have any extra income to pay for the school out of pocket as I need to support the family, and need the help. [link] [comments]  |
| Not able to refinance Nelnet loan Posted: 03 Jan 2019 12:14 PM PST I have a federal student loan that was sold to Nelnet that is currently on an Income-Driven repayment plan because the normal payment is too high, and I wouldn't be able to afford it. My balance on this student loan is a little over $23,000. I don't like how the Income-Driven repayment plan works but I didn't have much choice because I didn't want to default, and I can't afford a higher payment. I've tried to refinance with a bank but was denied. I then looked into refinancing with a credit union but couldn't do that because I'm currently on an Income-Driven repayment plan. I'm really frustrated and feel like I have no options. I have a really good credit score and always pay my bills on time. Any advice would be greatly appreciated. Thank you. [link] [comments]  |
| Posted: 03 Jan 2019 08:02 PM PST I just completed my doctorate and have been getting harassed from the Financial Aid office at my school to complete my exit counseling. I crunched some numbers, ran amortization schedules, and compared the different payment options, but wanted to clarify some things with an expert. I set up an appointment with someone from the office and they were completely useless. In my week of studying and reading the fine print attached to some of these repayment options, I (somehow) knew more than she did. Did anyone else go through this? I think I might contact my loan service directly, but I don't understand how the people who allowed me, a young and naïve 20-something, to borrow thousands and thousands of dollars without understanding the repercussions of these actions! What in the world!? I just graduated on 12/13/18 and was told I didn't need to complete the exit counseling until May of this year... is this unusual? Is this a symptom of the broken student loan system? [link] [comments]  |
| Why pay my loans? Serious inquiry. Posted: 03 Jan 2019 07:47 PM PST Hi, so I've been making serious payments on my loan each month. I was speaking with someone about the future value of a dollar dropping. If that is so, why make significant payments on a loan, rather than smaller increments to fight off interest and pay off a little of the actual loan. If in 10 years that 40K loan is less valuable than it is today, and the money you chose to invest instead is more valuable, why not just make slight payments now and then in the future clear it off when the inflation rate increases? Side note: maybe I'm not understanding finances correctly, or explaining myself as clearly as possible but this is my thought process at the moment. [link] [comments]  |
| Loan defaulted, debt not on credit reports or NSLDS. Posted: 03 Jan 2019 08:58 AM PST A debt collector is calling me over a defaulted student loan debt that does not appear on my credit report nor does it appear on the NSLDS government website. All of my federal student loans on my credit report and the website match and are in good standing. The debt collector claims this debt was purchased off the university and since this debt is not listed on my credit or federal loans, I have to assume this was a private loan through the university. I want to call the school and verify this debt but they may not have any info if it was sold off. I also do not recall ever getting a private loan ( especially of this magnitude ). The only possibility I can think of is I have two federal loans that got "cancelled" as I dropped out and they were never used. Is it possible they somehow bought this debt that didn't exist? Just looking for some options or insight before I make official calls. [link] [comments]  |
| Urgent: Pell Grant, Gap years and 6 Year limit Posted: 03 Jan 2019 07:24 PM PST So I was a full time non-degree seeking student for Spring 2018. I didn't receive any aid etc for this semester. I am now joining another college as a degree seeking student and will be starting Fall 2019. Is the period between my first college enrollment and my second one accounted for in my 6 year limit? Or does the six year limit means 12 semester of being enrolled regardless of any enrollment gaps in between? For instance if someone complete 8 semester over period of 7 years with gap years in between, will they stop receiving Fasfa after 6 years strike on calendar? Or does the six year means 12 semester enrollment regardless of actual number of years and time period and gap years? Yelp! [link] [comments]  |
| Big monthly payment, balance isn't too high (Navient). Refinance? Posted: 03 Jan 2019 11:42 AM PST Hello all, I've been scouring through this sub for weeks and can't decide whether it's smart for me to refinance. Over the past decade (graduated May 2009) I've paid off $38K of $55K in loans, three subsidized and one big private. A career change to the arts has pushed me into a much lower income bracket than before, which allowed me to make payments way over minimum (resulting in my currently small-is $17K total). Here are the details on what remains:
Right now I'm paying $278/month (55 goes to Stafford, 223 goes to private). I'm not too worried about the Stafford, once it's paid off in 44 months I will have paid $259 total interest from now until that point on top of the principal. The private loan will incur $4,694 in interest once it's paid off in 87 months (assuming the rate does not jump as it has in the past). My credit score is 810, monthly income sits around $2K. No car (sold it, take the bus and Uber), virtually no credit card debt, but very high rent. Mother is a cosigner on the private loan, she will co-sign on a refi (her credit score is 840). If I can get my monthly total to around half of what I'm paying now I'd be willing to extend the loan by quite some time, as I anticipate my income going up substantially over the next decade. Thanks for any insight y'all can provide! [link] [comments]  |
| Hope for Defrauded Sanford Brown Students Posted: 03 Jan 2019 07:14 PM PST This is huge. If this article is true, debts will be erased for Sanford Brown students. [link] [comments]  |
| Posted: 03 Jan 2019 06:02 PM PST I applied for an Income-Driven repayment plan (specifically PAYE) through Nelnet and was approved. I got an email today telling me to check new correspondence in my account and I saw that my status had changed to Admin Forbearance and that my next due date would be 2/26/2020. I called Nelnet and the woman I spoke with gave me a very rushed response of what was happening, and I want to confirm what she said with someone here (Maybe): -my loan will not be restructured -my interest rate won't change -this Admin Forbearance was placed because my repayment period will begin in February and my original due -my monthly payments are non-existent (yay teacher salary) - I don't have to do anything aside from re-establish my income at the end of this year, and if I don't I'll enter standard repayment next time around. I think this makes sense, but if someone out there could explain to me like I'm 5 what Admin Forbearance is and if what I was told was correct. I'm so distrusting of Nelnet... I don't wanna get screwed over. [link] [comments]  |
| Question about potentially paying of federal loans before private loans Posted: 03 Jan 2019 02:05 PM PST So I recently refinanced my private loans to a lower interest rate. I left my federal loans out of the refinance so that I would not lose any eligibility for government programs. But in reality, the federal loans only make up less than 25% of the total outstanding loans, so none of the current government programs really help me at the moment. I am no longer eligible for IBR because the income based payment isn't lower than my actual loan payment. But now my federal loans have a higher interest rate than my private ones (about 1.5% higher). So I am considering prioritizing them first or maybe even refinancing them as well. By refinancing them, am I just losing out on the potential of new programs coming out that may assist me? Is that even worth paying more just in case that happens? Should I just prioritize paying the higher interest rate loans even though they're federal? [link] [comments]  |
| Wife and I have 220K student loans Posted: 03 Jan 2019 02:00 PM PST We have 220K in federal student loans, our combined salaries add up to roughly 240k. We have around 160K in liquid cash and another 100k in Roth IRA, 401K, and HSA. Do we throw everything we have at the student loans and then begin rebuilding our savings? We've heard some recommend that we put a down payment on a starter home, and use the gains on that to pay off our student loans eventually. The latter strikes me as a big gamble, was wondering if anyone has any thoughts. Thanks! [link] [comments]  |
| Posted: 03 Jan 2019 05:38 PM PST I have about $25,000 in private loans with Wells Fargo with an average interest rate of 6.93% variable. I was curious would it be beneficial to refinance these with SoFi for a fixed interest rate of 6.8%? [link] [comments]  |
| How many different loan servicers do you have? Posted: 03 Jan 2019 12:46 PM PST I'm considering going to grad school and would need to borrow around $17K over a 2 year period. After checking out the r/StudentLoans section of reddit, I've seen posters with several loans with various amounts. For those with multiple loans from grad school, how many different loan servicers do you have? Thanks! [link] [comments]  |
| Same Income year to year, but IBR monthly payment went up over 60%? Posted: 03 Jan 2019 10:33 AM PST IBR, FSLP: 350/month (2018) to 550 (2019) despite income being the same? Income was precisely the same in 2017 and 2018 tax filings. Can anyone advise me why this might occur and what could be done to rectify it? [link] [comments]  |
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