3 Borrowers Win Case on Eligibility for Public Service Loan Forgiveness Student Loans |
- 3 Borrowers Win Case on Eligibility for Public Service Loan Forgiveness
- Am I weird for making payments like this?
- is there a company that can adequately handle the complexity of servicing student loan repayment to your liking?
- What should you pay off first?
- Finally Out of Default
- Questions regarding income based repayment plans...
- Concerned about PSLF
- Student loan for international study
- Settling debt
- Question about Income Based Payments and married income
- FedLoans seems to have issues with manual applications
- Defaulted student loans from school that changed names and location on paperwork
- Advice Please! Time to pay back for me or so I think, I haven’t finish school yet but I’m taking online classes for programming in the meant time to get a job and then return to finish my BS .. .. (read further ...)
- Federal Student Loans, PSLF and Cancer
- Paid off a loan, why is it still showing up?
- Question about loan rehab and references
| 3 Borrowers Win Case on Eligibility for Public Service Loan Forgiveness Posted: 25 Feb 2019 07:27 AM PST |
| Am I weird for making payments like this? Posted: 25 Feb 2019 08:25 PM PST Do you guys ever make payments to have your loan payoff remain as whole numbers? For example, lets say you owe $17,453.59. And your monthly required payment is something like $128.34. Do you guys ever just go: "screw it, i'll just pay $253.59". Now the balance is $17,200 and like 67 cents but only for a day. But you cherish that day. You feel a sense of pride on that day. Then the next month's total balance is $17,271.67 . Now you pay $271.67. And the cycle starts all over again. No?... Just me? ok... [link] [comments]  |
| Posted: 25 Feb 2019 08:46 PM PST tl;dr - if your student loan servicer is doing a great job, what is it that they're doing? and what does a "job well done" look like when servicing federal student loans? after reading some of the articles posted recently, lurking for many months, & posting for a few... i'm not sure which side of the coin i'm on regarding how difficult it is/how large a task it has become to service the student loan contract issued by the government. my biggest takeaway from the most recent article regarding fedloan was the comparison of how much a home mortgage loan costs to service vs. what's being paid to pheaa/fedloan (but with other incorrect statements in the article, i wonder about the sourcing of where those costs are obtained). it's fascinating to wonder, how large a task, and how reasonable it is, to service these accounts? the department of education assumes control around the time of the housing bailout, and outsource the servicing contract. all companies involved are excited to participate in the business but two of the major four seem to be facing legitimate issues regarding feasibility moving forward in the contract (navient/fedloan), and the other two have merged (great lakes/nelnet). if the contracts are up soon, and with a new administration on the way to administer the first real full wave of conditioned PSLF borrowers, and then the upcoming nightmare that regular taxable forgiveness will be... what company on god's green earth is egotistical enough to suggest they're able to service the contract adequately? are we being overbearing only looking at the negatives, and is it possible that likely 95, 99, or 99.99% of all loans are serviced adequately already? what company comes to mind that you think you ought suggest? is it better to have a mega-servicer, or the many? the posts that are the "loan servicer X stinks, they're crooks, they need to go" posts are garbage. they're not a part of any solution. omit them from your replies so, do you have any suggestions for student loan servicing? i pray to have discourse here. i wonder what i may receive instead. [link] [comments]  |
| What should you pay off first? Posted: 25 Feb 2019 08:15 PM PST My husband has 42k in student loans. One of them is ~10k, and then the rest is made up of a bunch of ~2-5k loans. They are all federal, and his interest rates aren't too bad. We are planning to throw our tax refund at them next month. What is best to pay off first? A small loan we can get rid of completely, or chip at the larger one? Thanks! [link] [comments]  |
| Posted: 25 Feb 2019 01:58 PM PST I defaulted on a federal loan and my credit took a hit. After 14 monthly payments, I'm out of default and paying to Great Lakes. It's been two months since my loan is no longer in default and I haven't seen my credit score go up. Should it go up eventually or do I need to contact the big three credit bureaus? [link] [comments]  |
| Questions regarding income based repayment plans... Posted: 25 Feb 2019 05:29 PM PST I have several student loans (~$50k to a credit union, ~$7k to Discover, ~$60k in government loans) that I believe will come out of deferment in June (I graduated in December). I don't have an option to consolidate at this time or anytime in the immediate future, so I'm not even entertaining that as an idea. I have not received any information regarding these loans other than the quarterly statements sent to me via email by the credit union for that loan (lumped together with my checking and savings statements, so no valuable information there). I currently work full time, but I make less than $10/hour after taxes and benefits, and I'm terrified that I will receive bills totaling more than my income when my loans are due. My mother is insistent that no institution, including the government, will even consider changing someone to an income based payment plan until after that person has made 6 months worth of normal monthly payments on time and in full. Is this true? I've also been told that at least the government loan can be deferred if my income is too low or my expenses are too high, but that seems to fly in the face of what my mother says (she works in higher ed so I don't think she's just talking out of her ass about this). Honestly, I'm terrified. I'm trying to facilitate a move across the country to a better job market, but I won't be able to do that if literally all of my money is going to paying back my loans. I'm not looking for ways to skip out on these loans, I want to be able to pay them back, but there has to be a way that doesn't involve $1500/month in payments. [link] [comments]  |
| Posted: 25 Feb 2019 05:50 AM PST Hi all, Thanks in advance for your help. I just started paying my loans (around 60k) after they came out of deferment. I am a teacher, and after researching PSLF, I have decided to consolidate my loans with FedLoan and start an IBR plan that will allow me to apply for the Public Service Loan Forgiveness plan. However, I am worried because if I follow through and commit to income based repayment, my balance will actually grow over time (because of interest). If for some reason (not due to my own negligence) my loans are not forgiven (for whatever reason the government gives), I'll be stuck in a bad situation. I'm wondering if anyone here has any insight what I should do, since I'm at the beginning of this 10 year process? Has anyone actually had their debt forgiven as a result of this program? It doesn't seem that the government gives any guarantees they will follow through with their end of the deal. Thank you! [link] [comments]  |
| Student loan for international study Posted: 25 Feb 2019 12:34 PM PST I am a US citizen and was accepted for a master's program that involves one year in Spain and a second in France. I received a scholarship for tuition but I still need to pay cost of living. Very few student loan providers have plans for international study. The ones I found like Sallie Mae dont work with my university. And attending two universities makes it even more complicated. Should I just get a personal loan? Or are there other options? [link] [comments]  |
| Posted: 25 Feb 2019 03:22 PM PST Has anyone here at success with settling their debt with the US Dept of Education through a collections agency? The collections agency that is currently handling my debt has offered an amount that is around 80% of the balance (including interest fee, etc.) to be paid in 90 days. I'd like to counteroffer a smaller amount but need more time to prepare a number. Has anyone had success with this? [link] [comments]  |
| Question about Income Based Payments and married income Posted: 25 Feb 2019 09:58 AM PST My wife is making income based payments and is on track for the public service loan forgiveness. We had filed our taxes separately, under the advice that this would prevent my income from being tallied with hers for purposes of income based repayment. But is that accurate? When she applies for income based payments, and updates it, she is required to list me as her spouse and I provide my income and tax information. So I'm not sure why filing separately would matter. The loan program knows she is married to me and how much I make. I'd appreciate help here if anyone knows, we briefly talked to a couple tax professionals, but this is more of a loan payment question and they weren't sure. [link] [comments]  |
| FedLoans seems to have issues with manual applications Posted: 25 Feb 2019 09:53 AM PST How do you get these folks to process a manual consolidation with a PSLF flag? I have an IRS tax lock so the automated system cannot pull tax returns and apps have to be manually sent. It seems like any time something is not automated, the whole process breaks down with these guys. I have submitted the PDF outputs from StudentLoans.gov, income information, and the employer certification docs. Yet, their system auto-cancelled the consolidation without a cause provided (it would help if there was at least some kind of status code, automated email, call back, SOMETHING). Their service folks have no idea what's going on with the account and Studentloans.gov doesn't let me start another consolidation app. I was going to just redirect my loans to Great Lakes, the servicer I actually want, and just give up on PSLF if I have to deal with FedLoans since both the company and the program seems to be failing anyway (they aren't doing well financially). I think their call center is on the East Coast, but for whatever reason the quality of their telephone system is also so poor I can barely have a conversation, call randomly drops, etc. Really frustrated with these guys... also skeptical that a PSLF started now will work due to all the failures I am reading about at the end of the process and servicer problems throughout. Are there any alternative channels to deal with these folks in a less rage-inducing manner? I've never had luck with the Ombudsman. Update: this link has a contact. They can redirect a request to the right person if the service people on the phone can't figure it out. It's a shame they are overloaded too much to support regular email channels unless you "backdoor" it, but a lot of us are getting desperate. [link] [comments]  |
| Defaulted student loans from school that changed names and location on paperwork Posted: 25 Feb 2019 01:33 PM PST The school is still open at the original location, but changed it's name from "business institute" to "college" after I left. But somehow, my student loan information says that I went to a different campus. Is this something I can fight? Why would they say I went to a campus on the other side of the state when the campus I did attend is still operational? [link] [comments]  |
| Posted: 25 Feb 2019 11:26 AM PST I've entered in repayment and I don't how to go about it or what my options are or what would be the wiser route .. I have:
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| Federal Student Loans, PSLF and Cancer Posted: 25 Feb 2019 11:18 AM PST Hello and thank you all in advance for your insight Long Story short My wonderful wife and I are both professionals and have collectively ~ 200k in federal student loans, my wife is 3 years in PSLF and I am 1 year in PSLF. We are both in the PAYE repayment plan and we are expecting our first child. We both utilize retirements and HSA accounts; and we are also saving as much as we can to save for retirement and keep our AGI down. Approximately 2 years ago I was diagnosed with cancer, I was able to beat it with the help of my family and skilled team of doctors and I go every 6 months for testing and scans to see if the cancer is back. This is also why I am a little behind my wife in terms of PSLF completion percentage. I was just hoping to have other peoples opinions that PSLF is the right option for my wife and I especially Benefits for continuing on current course 1) with my child coming payments will go down 2) possibility of loan forgiveness and saving money to use elsewhere 3) God forbid if cancer comes back we will have money for other things ( especially because our loans are federal, if cancer were to get bad I could request my loans to be dismissed for disability or worst case scenario my wife could submit for dismissal for my death.) Downside 1) loans hanging over our heads for the next 7-9 years 2) something were to happen to the PSLF program. Is there anything I am missing or any insight anyone can provide. Thank you all very much and god bless [link] [comments]  |
| Paid off a loan, why is it still showing up? Posted: 25 Feb 2019 08:55 AM PST I have 10 loans through navient 😬 I paid one in full last week. I figured it would drop of my statement but it's still listed. The balance is $0 for now. Is there something else I need to do to officially close it out? [link] [comments]  |
| Question about loan rehab and references Posted: 25 Feb 2019 07:03 AM PST ------ TL;DR: Can a debt collector stop a loan from successfully being rehabilitated based soley on the lack of "three additional references" when I have always been in touch with them an all payments made on time? ------ I have a loan in rehab and have a question on a "requirement" they've given me after all my paperwork has been signed. I am already making payments, the first payment was paid and received as well as paperwork signed then my account rep told me I have to give them three referrals. This individual said that my payments will not qualify until I give three contacts that they may call? I do not have three people who can/should be a financial contact. They legitimately asked me "So you don't have coworkers or a boss that can be a reference that we may call?" I have searched as well as calling the collection agency managing my loan and I am getting conflicting information. I call and speak to someone else that's not my account rep, they tell me I am good and everything is squared away, how ever this guy keeps calling me telling me that's not the case. I've answered every call, they have my account and automatically pulling payments -- the conflicting info makes me feel like they are trying to obtain info to sell to other debt collectors, it simply does not make sense that they need more contact info from me when they have my info and money already... Anyone else been in a similar position? I would hate to make my 10th monthly payment only to be told that all that money doesn't qualify and I am still not rehab'ed [link] [comments]  |
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