ParentPLUS Loans, the worst of the worst Student Loans |
- ParentPLUS Loans, the worst of the worst
- How bad did I screw up on my IBR application
- Student Loan debt ($16k) was transferred to a debt collector
- If I pay down my principal will my monthly payments decrease?
- I set up autopay on Nelnet two days before I had to make my first payment on Jan 5th. The faq said if payment date falls on the weekend, it won't count as late since pay won't go through but will show up the next business day (today). It didn't, and now it says I have a past due amount.
- Apply Comfortably For Any Suitable Online Loans | Frisky Loans
- Advice for fast growing interest on IBR plans?
- Trying to pay off $34k to salliemae
- Please help me guide this crash landing (parent plus)
- Private loans for 1-2 years of school
- Discouraged. Be gentle.
- Side-hustle allowed while under PSLF?
- Student loans
- Due to BA course sequence, have to take 2/3 or 1 year off school. What does this mean for my Fed Subsidized Loans?
- Looking to start school again..... But no clue how to select a loan...
- I’m scared
- What are my best options?
- How To Pay for a Required internship
- Number of loans
- Loans and taxes//:
- Loan provider Navient is putting me into a repayment plan when I refuse. What do I do?
- Refinancing with Laurel Road
- How do I even approach to paying off my student loans? $50K w/ $88K salary. Looking for tips and guidance.
| ParentPLUS Loans, the worst of the worst Posted: 07 Jan 2019 04:43 PM PST Needless to say I hate my ParentPLUS loans. I am unable to consolidate and refinance to be under my name so as of right now I am paying my mom each month. I know that could be tricky come tax season but I am dealing with things as they come. My mom isn't much help so I am trying research as much as I can. If anyone has ever dealt with ParentPLUS loans and has any words of wisdom I would greatly appreciate it! [link] [comments]  | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| How bad did I screw up on my IBR application Posted: 07 Jan 2019 03:29 PM PST I'm a medical resident that graduated med school in April. I worked a temporary full time job between April and June and make approx $6-7k over that time. I consolidated my federal loans and my plan was to apply for IBR before residency began. Essentially what happened is I did not end up applying for IBR until July because the consolidation process ended up taking a long time. This was after beginning my new job but before getting my first paycheck. I got a start up bonus of $800 though. My concern is that I when applying for IBR I said that my income had not changed substantially since the previous tax year where I had no income, despite making $6-7k during the temp job and technically having started residency at time of application. My financial aid director at school said the money made with the summer job wouldn't be enough to make a difference and that I should say my income hadn't changed substantially, but I'm worried that since I applied after July 1 and the start of residency I effectively lied on the application regarding income change. Again, I had not received a residency paycheck yet. Not sure why I didn't think about it at the time, probably because I had always heard to always just go off last year's tax report...but I feel like I screwed up. Did I commit fraud and am I at risk for audit/penalty going forward by the Dept. of Ed? [link] [comments]  | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Student Loan debt ($16k) was transferred to a debt collector Posted: 07 Jan 2019 05:11 PM PST I started off with navient then it went to board of education and now it's with some collection agency in new hampshire. I'm not sure what to do at this point. Originally my loan was $15k and I paid off about $3k until I left my job and now the interest has bumped it up to $16k. I've been having trouble landing a job and the stress has stupidly made me turn a blind eye to all of this. What's my next step? [link] [comments]  | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| If I pay down my principal will my monthly payments decrease? Posted: 07 Jan 2019 08:22 AM PST Title says most. Looking to throw my tax return at my largest balance loan. Will that decrease my monthly payment? Variable interest rate. EDIT: I should mention these are private loans!! Thank you! [link] [comments]  | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Posted: 07 Jan 2019 05:47 PM PST So now it says in big red letters that I have a past amount due because I think my autopay didn't register today like it said it would. In a panic, I went ahead and manually paid the amount I had due. Now I'm afraid since I "missed" the first payment it will somehow affect my next payments that are on autopay. What more can I do? [link] [comments]  | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Apply Comfortably For Any Suitable Online Loans | Frisky Loans Posted: 08 Jan 2019 01:34 AM PST At FriskyLoans, use the simple online tools and apply easily for any suitable online loans by submitting the required details and get it approved soon. Visit https://friskyloans.co.uk/online-loans.php [link] [comments]  | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Advice for fast growing interest on IBR plans? Posted: 07 Jan 2019 09:39 PM PST I helped my boyfriend get out of his student loan default a few years ago and rehabilitate his loans which he ended up consolidating into an 18,000 unsubsidized and 12,000 subsidized loan. He signed up for an IBR plan and currently makes so little income that his payments are set to zero. His loan has already grown by a couple of thousand in the past year or two and I'm starting to think the IBR payment plan was not as great as we thought it would be. Should I encourage him to start throwing his extra income at interest payments? Is that even possible when you're on an IBR plan without switching the plan? Standard plan definitely is too much for what he makes so I don't think switching is really an option. I think his vague plan-not-really-a-plan is just to keep making as little income as he can to keep qualifying for zero payments until the loans expire in 18 years which I understand will saddle him with a hefty tax bill and basically continue his debt forever. This is a pretty bad idea, right? I appreciate any suggestions! [link] [comments]  | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Trying to pay off $34k to salliemae Posted: 07 Jan 2019 04:33 PM PST Currently I have about $34k in private student loans with sallie mae (UGH). If I break it down how they have it, it goes a little like what i have below, which is divided by how much i took out each semester. My husband and I make a combined monthly income of $4,800. We can live off of $800 a month because it's just us 2, our very low rent & utilities/other basic needs. IF we start putting $4,000 a month towards the loans, i think we can have it paid off within this year! my plan is to start by eliminating the loan with the highest rate and then working my way through... what do y'all think?? is my plan feasible? any advice? $10,236 at 11.5% $7,831 at 12.5% $4,852 at 10.4% $4,619 at 12.5% $3,887 at 11.3% $1,984 at 11.3% [link] [comments]  | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Please help me guide this crash landing (parent plus) Posted: 07 Jan 2019 06:23 PM PST I keep seeing posts on this sub about the evils of parent plus loans. This scares me because parent plus loans are the majority of my college funding. I am taking out what I can in unsubsidized loans, but this does not cover my tuition. The rest of the tuition is being covered by parent plus. (Why are they so bad? Why are they offered if they are so cancerous? ) I have three years left of school and just planned on using parent plus to cover my tuition. Without any change to my financial planning, I will graduate with $120k of loans which will primarily be parent plus loans. Please tell me what you think I should do in this situation. I know I should have researched more about loans, I just assumed this is how everyone took care of college debt. Any and all comments would be appreciated :) (Sorry if this is messy and unorganized. Also apologies if this question has been answered before. New to this whole reddit thing 😊) Thanks everyone!! Additional info: Parents are expecting me to pay back loans because they can't afford payments themselves. I am projected to make $75k-$85k after graduation. Not sure if this would be enough for current plan for repayment. School I go to is expensive but transferring to a third college isn't a viable option I live at home and avoid as many college related expenses as possible. [link] [comments]  | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Private loans for 1-2 years of school Posted: 07 Jan 2019 09:56 PM PST So I was hoping that I could escape with only my Federal loans, but just looking ahead it looks like I may have to use private loans for at least two semesters. The part I'm worried about the most is the interest rate. I am an "adult" student (27) and I have very little if any unsecured debt. I do own a home and have a 750+ credit score. I also work full time as a paramedic making ~$40K yearly. The max interest rate is around 14% from what I've glanced at and that is much lower than the 22-24% I'd get using a credit card. My question is, are private loans any worse than Federal loans in my situation? Any further advice is also welcome and I can answer questions if additional is needed. [link] [comments]  | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Posted: 07 Jan 2019 09:32 PM PST So I'm out of school. I have a decent 9 to 5, just above minimum wage. My payments come due in April. I'll be able to pay my loans, my car payment, and some hobbies. I'm only 36k in debt. Definitely not that bad. But I can't move out of my parent's place or buy my own groceries. Or really just be self sufficient. I just realized the other day that if I made more I could be out from under my loans in a few years instead of 10. I just feel a little depressed that I don't know where my career is going. I don't have a plan and I don't have good opportunities. There are not many "climb the ladder" positions in my state. Mostly just high paid senior positions or minimum wage or manual labor. Which could mean having to move to find better opportunities. But my boyfriend and family are here. That's so much upheaval. What if it doesn't work out? Ugh. I'm so nervous. My insurance is through my company at this point. So I can't just drop everything and go adventure. I just feel like I've lost the fun free party of my life. (I'm sorry to hold a bit of a pity party. I'm just discouraged. Be gentle.) TL;DR-worried about loans and future. [link] [comments]  | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Side-hustle allowed while under PSLF? Posted: 07 Jan 2019 01:47 PM PST Will I be able to have a side-hustle in a for-profit organization as long as my main full-time job is a supported non-profit? [link] [comments]  | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Posted: 07 Jan 2019 03:18 PM PST I attend Eastern Michigan University and I'm in the aviation program which requires a lot of money. I pay 24k a year with tuition but my problem is my parents don't want to co-sign for me to get the loans to continue my flight training. I have applied to all of the banks I know including six-up, accent everything. As a 19-year-old with with with a poor credit history, it seems like its impossible to get a loan. Sadly most of the loan lender that don't require a co-signer like six-up don't lend to my state which is Michigan. If anyone knows a lender that offers student loans without a co-signer and lends Michigan residents please let me know one I've been dying to find to the point where I dropped out of college to work and save up some money. But it just feels impossible to save up due to bills and high cost for college thanks. [link] [comments]  | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Posted: 07 Jan 2019 04:16 PM PST I'm a junior and recently took out my first student loans. My bachelors degree is structured in a way that I may not be able to begin my last year ('19-20) in the program without complete certain prerequisites. The likelihood I complete those prerequisites before next year is low. Long story short, I may have to take Fall-Spring or Winter-Spring off of school next year. Am I responsible for repaying my loans during this time or just the interest? I spoke with my school financial aid office but they didn't seem very aware of anything specific. I've yet to call my loan servicer, which I plan to, but I thought I'd post here to cross-reference stuff or see if anyone has any ideas about avoiding accrued interest. Thanks! [link] [comments]  | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Looking to start school again..... But no clue how to select a loan... Posted: 07 Jan 2019 07:38 PM PST So, I have decided to try going back to school again, but I am super unsure who to get a loan with, or how to pick a place, or even what I need to know about taking out a student loan. Does anyone have any advice for a first time loan taker? Thank you!!! [link] [comments]  | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Posted: 07 Jan 2019 08:05 AM PST Hey guys, I guess I'm just on here looking for advice. I ended undergrad with about $30k in loans (all governmental, if that matters). Now I'm in grad school where there is virtually no aid and my debt is going to triple by the time I'm done with my masters (mental health counseling). I'm afraid if I don't go for a doctorate, I won't make enough to manage these loans and if I do go for a doctorate, I won't have enough time working to pay them off. I am just so scared that I'm going to be financially unstable for a large majority of my life because of loans. Does anyone have any advice for how I can cope with this or what I should do? Thanks [link] [comments]  | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Posted: 07 Jan 2019 01:01 PM PST I have to begin paying back my student loans. I have about $80k in private loans from Sallie Mae and another $27k in Federal. It seems the best thing to do with the federal loan is to do the direct loan consolidation with the dept. of education. I'm confused with the private loans because Sallie Mae no longer does any consolidation, yet my brother was able to have them consolidate his loans with them about 5 years ago. Right now Sallie Mae wants about 1k a month total which is literally not possible. Should I look into refinancing and consolidation with groups like Earnest, SoFi, or Lendkey? I kind of put this off for a while now, and the full extent of how much i'm in debt is stressing me the frig out. [link] [comments]  | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| How To Pay for a Required internship Posted: 07 Jan 2019 08:45 AM PST I am about to leave for a 6 month unpaid internship that is 100% required for me to get my degree. I am having such a hard time being able to find a loan to help me get through it. The way the enrollment works makes it only worth one credit hour but I have to move out of state and complete 1000 clinical hours all for no pay. I don't know where to turn or how to go about getting what I need to be able to live. I have been able to save as much as possible and I have it estimated that I will only need around 5,000-6,000 to cover my cost of living for those six months. Any advice would be appreciated greatly. [link] [comments]  | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Posted: 07 Jan 2019 02:12 PM PST Hey guys. This is my first post here. I went to UCI in 2013 and that single year alone I had 25k in debt. So I left and became a registered nurse at a community college where I, thankfully, was waived from registration fees. About 5k was under my name and the rest are Parent Plus loans (from UCI). I am planning to attend Ohio university online where the tuition will be about 7k for my BSN (I plan to pay this out of pocket since I'll be working now). I see others stating here that they paid of 2/5 of their loans. So does that mean it's possible to pay of my personal loans first, then pay off my loans under my parents name after finishing my personal loan? Or do I have to pay them all together? Just curious! Thank you!! [link] [comments]  | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Posted: 07 Jan 2019 04:32 PM PST So I made the mistake of taking out ParentPLUS loans. I am not quite ready to refinance and consolidate them yet so I have been paying them each month but they are still in my parent's name. What does that mean for taxes? And I read something about the money being taxed as a gift? Any help is appreciated! [link] [comments]  | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Loan provider Navient is putting me into a repayment plan when I refuse. What do I do? Posted: 07 Jan 2019 01:52 PM PST Hello! To keep it short, I am in deferment on my loans. The school sent me an excess refund and I sent it back to Navient and even called asking if it would affect anything. The person said no. Now the loan I sent some refund to says I'm in a repayment. The main page says the due date is 1/29/19 yet the "payment schedule" is saying 1/01/22. The interest seems to be accruing far faster than the other loans in deferment. Is it possible to reset these loans into deferment by calling? I absolutely hate Navient, he anyone run into this issue? [link] [comments]  | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Posted: 07 Jan 2019 10:27 AM PST Just want to make sure before I go through with this. Currently I am paying through Sallie Mae but I am looking to refinance with Laurel Road. I got this message "Congratulations, your loan has been approved! Please note, the rates shown above are subject to change, and the terms of the offer will expire after 30 days if you do not accept your offer. To lock in your rate and the term you have selected, you must accept the loan offer below and e-sign the generated disclosures." Am I all good to go and anyone here use Laurel Road? Are they good, are they legit, anything I need to know before hitting accept? I recently made payments to Sallie Mae so I want to make sure things don't get screwy [link] [comments]  | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Posted: 07 Jan 2019 11:27 AM PST So I just graduated and preparing to pay off my student loans. I have about ~$50K in student loans and I make $88K a year. This is roughly my current budget. Car is fully paid for and my parents will be paying for insurance for a couple months as I settle in but I expect my auto insurance to be ~$100 a month.
Does my budget need any adjusting or seem unrealistic anywhere.
I know I need to tackle the >5% interest loans first. Do you think it's worth refinancing the private loans? What kind of monthly budget am I looking at? I was planning on setting $500 - $1000 a month just for loans and then using most of that to tackle the larger interest rate loans. Should I be putting more into my loans budget? Also, I'm currently in my grace period [link] [comments]  |
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