When is rapidly paying off loans less beneficial than investing money elsewhere? Student Loans |
- When is rapidly paying off loans less beneficial than investing money elsewhere?
- Advice for a confused teenager?
- Marrying Into Huge Student Loan
- Can I just choose to pay off student loans one at a time if they’re from the same place?
- My grad school is saying I can't get federal financial aid because my parents' plus loans are in default?
- Should I get a student loan to pay off my credit cards?
- JD Loan
- Where to direct over payment
- Best Place to Get Subsidized Student Loan with Bad Credit?
- Halfway through degree, parents won’t co-sign anymore, interest rate at 12%... Advice?
- PSLF vs Paying Off Student Loans
- Is it possible to have loans under different repayment plans?
- Need to transfer some student loans around and need advice
- Out of state PhD student. Lost my assistantship which gave me tuition remission/income. What to do regarding student loans?
- $1000/month Loan payments, I cant do it anymore. Any Advice...
- Best way to go about researching private student loans?
- Income-based payments?
- Omg my wife called me pissed!!!
| When is rapidly paying off loans less beneficial than investing money elsewhere? Posted: 04 Jan 2019 06:19 PM PST Sometimes I see posts on here about investing your money elsewhere instead of heavily (HEAVILY) paying off student loans. Is this ever the case? I have 36,000 left on my federal student loans and I have a plan in place to pay it off by the end of the year, but it requires me to "eat shit for one year so I can eat caviar for 60 years" (Gary V.) I'm excited to do it but I don't want to set myself up for failure. [link] [comments]  |
| Advice for a confused teenager? Posted: 04 Jan 2019 11:05 PM PST Hi, I'm a 17 year old CC student that is about to transfer to his state university this spring. My state uni is unfortunately expensive (which is why I went to CC first) but it's really good for my major and has some great job placements How expensive? Well this spring semester should be around 18k. A little note about my family: I don't have the best relationship with them, they make a lot of money but they also have a lot of debt (they're kind of old and don't seem too concerned about it). They said they'll try to help however. The university offered me no aid (due to my family's income) but they offered me two things:
I don't know where to proceed from here. Any advice? How does one even "acquire" these loans anyways? I have to apply through the FAFSA again right? Loans kind of scare me. I'm already making plans to get a job on campus and apply for summer internships. Any advice? Thanks, I really would appreciate some input from you guys [link] [comments]  |
| Marrying Into Huge Student Loan Posted: 04 Jan 2019 06:15 AM PST My fiance has a little over 175K in fed loans @ 6.8% (with income based repayment) and I'm trying to figure out what our best plan of attack is. Together we'll make about $170K post tax and I have almost exactly 170K in liquid assets . I'm considering a few options:
Any advice is appreciated. [link] [comments]  |
| Can I just choose to pay off student loans one at a time if they’re from the same place? Posted: 04 Jan 2019 07:53 PM PST I have 8 different loans from FedLoan Servicing, and I was wondering if it was possible to target my entire loan payment to 1 of the loans instead of spreading them out in order to get rid of the higher interest ones. I am taking a year break from school to work, so I am starting repayment. I will be going back to school and will then defer payment again, so I feel like it's a good idea to get rid of the biggest ones that are unsubsidized before then. Is that allowed, or would it negatively affect my credit? [link] [comments]  |
| Posted: 04 Jan 2019 04:38 PM PST I'm starting a master's degree next week. When I first got in I immediately applied for a bazillion scholarships but won't hear back about those for another week or so. I also applied for financial aid and sent the FAFSA to the university. The university got back to me today and said I don't qualify for aid because my PLUS loans are in default. I don't have any PLUS loans and the loans I do have are up to date, never so much as a late payment. FedLoan Servicing is sending me a letter stating that which I will turn in to financial aid. However, my parents did take out PLUS loans but in their name. My name is not on them and they are not my legal responsibility. So the only thing I can think is that their loans are in default. Which sucks because I didn't even know they took them out and I feel terribly guilty that they couldn't afford them. I thought I held all of the debt. So my question is whether I can be denied further Federal loans because of this. I can't find information about it anywhere. Has anyone come across this issue before? I'm still waiting to hear back from financial aid. [link] [comments]  |
| Should I get a student loan to pay off my credit cards? Posted: 04 Jan 2019 01:33 PM PST All my tuition and housing are mostly covered (85%) by my subsidized loan and FAFSA, but I can't pay off my credit cards right, they're not maxed out but they're around 60~65% used (from 4 different banks), should I get a loan to pay those off and pay the loan after college where I can work full time? Or should I stick with the credit cards interest rates? (I won't be needing my credit cards after paying them off as much as before because of certain situations, so I won't be utilizing those as much, not to worry about that) [link] [comments]  |
| Posted: 04 Jan 2019 02:59 PM PST Is it possible to pay the minimum monthly payment (usually $50.00) for the rest of my life? I plan on going to UCI School of Law (tuition is $45k a year) and the housing in Irvine is approx. $25k a year, so if I went to law school for three years - I would need a $210,000 loan. So again, would it be possible to just pay the bare minimum payment every month for as long as I live, and if so, what happens to the 20 year agreement I make with the loan provider? [link] [comments]  |
| Posted: 04 Jan 2019 07:25 PM PST If I have an extra $20 or so to throw at a loan, should I direct it at the lowest balance loan or highest interest rate? Or spread evenly across all loans? It's rarely more than $40 if I do an overpayment [link] [comments]  |
| Best Place to Get Subsidized Student Loan with Bad Credit? Posted: 04 Jan 2019 06:19 PM PST What are reliable places that will give me a loan that you guys have used before? [link] [comments]  |
| Halfway through degree, parents won’t co-sign anymore, interest rate at 12%... Advice? Posted: 04 Jan 2019 11:04 AM PST I'm halfway through getting my degree, and because my parents don't have great credit I've been stuck with higher interest private loans. I applied to get private loans for this upcoming semester as normal, but my parents are now refusing to co-sign for me as they don't want it to affect their credit anymore. My parents just started co-signing loans for another sibling, and co-signing for both of us is apparently affects their credit too much. The only place that will allow me to get a private loan without a co-signer is Discover, but their interest rate is at almost 12%. This seems unsustainable, I still have 5 more semesters left to get my degree, (5 year program) and the school is expensive. I'm at a lose of how I will be able to pay this off at such a crazy rate. The interest accrues the entire time I am in school as well. Any advice as to how to proceed? [link] [comments]  |
| PSLF vs Paying Off Student Loans Posted: 04 Jan 2019 11:40 AM PST My current situation is I have 105K worth of student loans. I currently work in public service with a job earning >$100k per year. I have been out of school for 3 years. My calculations according to this scenario are Currently I have 20 on-time payments to fedloan , meaning I have 100 payments left before loans are forgiven. I am doing the PAYE strategy. The loans are all direct unsubsidized stafford loans. So with 100 payments left x $430/month = $43,000 ... this is assuming PSLF works out and the government starts forgiving balances due Comparatively, if I paid off the loans altogether at this moment in time it would cost $105,000. Are my assumptions true for this scenario? Am I missing something that would be a costly mistake? As of right now it looks like it would be $60k cheaper just to keep doing the PAYE for 10 year strategy. I realize my payments may gradually start to increase as I continue to get raises but I wouldn't expect them to skyrocket, is that a fair statement to make? [link] [comments]  |
| Is it possible to have loans under different repayment plans? Posted: 04 Jan 2019 11:25 AM PST My wife has a consolidation loan that won't be eligible for PSLF until two years after all our others are forgiven and it's about half of her current balance overall. At that point, payment under REPAYE will stay the same as before forgiveness but now only on that one loan. Is it possible to switch that loan over to IBR so it's capped, and would the cap apply to that loan by itself or our entire balance. If possible, what is the easiest way to do this, as I don't see a way to do so on the standard form? [link] [comments]  |
| Need to transfer some student loans around and need advice Posted: 04 Jan 2019 12:03 PM PST Hi peeps, I used my business credit card to pay some parts of my student loan. Reason I used a business credit card was because it was 0% APR for 18 months and it wouldn't show on my personal credit report. Now that 18 months has come and I need to find a new bank to open a student loan with. I was thinking discover student loans. I also saw citizens bank being highly rated. I am looking for a loan of about 20k, I appreciate any input. Thanks! [link] [comments]  |
| Posted: 04 Jan 2019 11:58 AM PST I'm in a STEM PhD. My assistantship was taken away because I did not produce enough papers across two years (though I did create plenty of projects) along with a soured relationship with my advisor because of it. I'm 2 semesters away from finishing my coursework before comps or leaving with a masters. This place has been awful and I am likely leaving with the master's. I am an out of state student and I now have to take out bigger loans for tuition and living expenses now. There was a competitive TAship that had remission in another dept that I applied for but it wasn't awarded to me. Any ideas of what I should do now? Has anyone ever been in this situation? I accepted the regular loan which gives me $9k a semester after loan fees and I applied for the Grad PLUS loan, which gives me another $2k per each semester. Out of state tuition is about $10k per term. Any advice on how to fund living expenses? Should I pull a personal bank loan? [link] [comments]  |
| $1000/month Loan payments, I cant do it anymore. Any Advice... Posted: 04 Jan 2019 07:47 AM PST As of 9:00 this morning (Friday) the dreadful day of paying my loans came and another $1000 out of my pocket. I cant do this anymore and want to know if anyone out there has any advice. I want to refinance/consolidate the and try to do something about lowering the payment because this is ridiculous. I'm starting this new year and don't want to live like I did in 2018 by barely getting by. I've looked into SoFi and been denied, LendKey offered me a rate that was IIRC outrageous etc. I just dont know what to do anymore. [link] [comments]  |
| Best way to go about researching private student loans? Posted: 04 Jan 2019 11:06 AM PST I'm trying to figure out the best way to research private student loans. Anyone have any tips other than just googling it and comparing interest rates? The thing I worry most about are "gotcha" clauses in the fine print of the loan agreement. [link] [comments]  |
| Posted: 04 Jan 2019 10:11 AM PST I have 25k through Nelnet, recent grad, and am currently having issues finding a job that will swing my monthly payments. I am currently behind on payments and was wondering, what are the qualifiers for income based payments? Am I null and void due to being behind, or is there a way for me to try and work this out or even refinance? [link] [comments]  |
| Omg my wife called me pissed!!! Posted: 04 Jan 2019 09:01 AM PST So my wife account didn't have enough money to make this month payment. She freaking out saying you can be late or miss one payment or she will be dropped off student loan forgiveness program. I want to know if anyone knows the answer to this? Thanks [link] [comments]  |
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