Am I screwed? Student Loans |
- Am I screwed?
- I think it's possible my dad forged my name on my student loan documentation. How can I access those documents?
- AMERICAN BAR ASSOCIATION v. UNITED STATES DEPARTMENT OF EDUCATION (slip)
- Starting my ABSN Program soon and was curious where to start any tips and tricks for Private loans
- Taking a group approach to lowering the cost of college loans - Boston Globe
- You've got to me kidding me.
- ACS/Conduent Missing from Existence?
- Parent Plus loan in collections - please help
- Leaving for university just to get away from family?
- I recently found out my SO of two years will have around 300k in private student loans in a couple months upon graduation. Im not sure how to approach this or their prior mishandling of money. What do I do?
- Two brothers, 2 loans.
- Please help a clueless borrower
- How does federal loans work?
| Posted: 26 Feb 2019 04:16 PM PST Hey guys, I'm a law school grad making $75,000 per year at a good firm through a special program. If I do well for a year, I should get hired at big law salary, or at least have the experience necessary to get a high salary elsewhere. The issue is I made terrible decisions with my undergrad loans, and in total I have 330k in loan debt. Around 140k of that is 10% average interest. I live in a high expense city. Is there any way I can refinance my loans to at least have them be lower interest, or do I have to try to survive off my pay and loan payments for a year until I (hopefully) am making a higher salary? So far I have been denied for commonbond and sofi even with a cosigner of around 140k income per year. I fully understand the situation I'm in, and the poor decisions that got me here, so I'm looking for any helpful things I can do. I know there's no magic button I can press to make this year, or the years after, less difficult. Thank you. [link] [comments]  |
| Posted: 26 Feb 2019 02:16 PM PST The agencies associated with my unpaid student loans on my credit report said I have to contact the Department of Education to find anything out, and I've tried calling the Department of Education, but their number (800-621-3115) never works. The myeddebt.ed.gov site is horrible, and requires you to reveal your mailing address, which I don't want to do (at least until I can find out how strong my legal case might be against my father). My dad has lied for a decade about paying off my student loans. He only paid for one of three. And I never knew I was the signer. He either forged my name, or I naively trusted him ten years ago at the age of seventeen. Also, when I contact the agencies/Department of Education, his #, email address, and physical address are on my account. What can I do? I feel like the Department of Education is deliberately impossible to get a hold of because they want to force you to give them your real mailing address. I feel unable to proceed until I find out whether my dad did or did not forge my signature on the student loan documents. How can I achieve this? [link] [comments]  |
| AMERICAN BAR ASSOCIATION v. UNITED STATES DEPARTMENT OF EDUCATION (slip) Posted: 26 Feb 2019 08:30 AM PST QUOTE: ...... The Department relies on PSLF servicers, primarily "FedLoan Servicing," to process ECFs prior to a borrower submitting a loan forgiveness application at the conclusion of making 120 qualifying monthly payments. AR 178. ECFs are processed in several steps. First, FedLoan Servicing conducts an "initial review" in which it "check[s] that the borrower provided all required information" and followed the form instructions. AR 143. Once the check is complete, Fedloan Servicing "determine[s] whether an employer is a qualifying public service organization" by confirming that the organization is listed in one of the Department's "searchable databases, based on the type of public service organization." Id. If FedLoan Servicing cannot determine whether an employer qualifies as a public service organization—and in all cases where a borrower submits an ECF based on her employment at a private, non-501(c)(3) not-for-profit organization—it is required to escalate the decision to the Department. AR 143, 160–61. After determining that the borrower's employer is a qualifying public service organization, FedLoan Servicing will "determine whether the borrower has met the full-time requirement ... while employed [there]." AR 143. If FedLoan Servicing confirms that the borrower made loan payments while employed full-time at a qualifying employer, then, after approving the first ECF received by the borrower, it will "request the transfer of all federally-held loans" to FedLoan Servicing from the borrower's original loan servicer. AR 144. Once the transfer is made, FedLoan Servicing will "track the number of PSLF qualifying payments made after the loans [were] transferred from the original servicer." Id. AND The extra-record evidence—which consists of internal Department and FedLoan Servicing email traffic—addresses this point directly. And it demonstrates that the Department changed how it interpreted the PSLF regulation by adopting the Primary Purpose standard and applying it to borrowers generally. In February 2017, a FedLoan Servicing employee emailed Foss to express "concern[ ]" as to whether his recent instruction that an "organization's 'primary purpose' [had] to be to provide one of the qualifying services" was "directly conflicting with how we have been evaluating certain [public health] organizations" based on guidance Foss had offered several years earlier.9 Pls.' Supp. Br., Ex. B. The employee referenced a prior case in which FedLoan Servicing and the Department, in applying that guidance, had jointly agreed to approve an employer even though its primary purpose did not involve a qualifying service. Id. In response, Foss instructed the employee to "do a retraction" of the employer's eligibility status. Id. Foss then requested that the employee "comb through those organizations that [they had] approved" and "provide [the Department] a list, like [the employee had] done for public education and public interest legal services." Id. (emphasis added). Not long afterward, in June 2017, that same FedLoan Servicing employee described to a co-worker how, a "few months ago," the Department "introduced a new concept in the review, 'primary purpose.' " Pls.' 2d Supp. Br., Ex. E. As a result, the Department was reevaluating ECFs that FedLoan Servicing had previously approved based on earlier Department guidance. Id. In fact, the employee recounted, FedLoan Servicing had provided the Department a spreadsheet of organizations that it had approved pursuant to the prior guidance, but the Department "still ha[d] not provided follow-up" on it. Id. The next month, FedLoan Servicing updated its "Employment Certification Form Manual" to reflect that "[a]s of February 23, 2017, [the Department] advised [that] a private not-for-profit (non-501(c)(3) ) organization should be evaluated based on [its] 'primary purpose.' " Id., Ex. C. [link] [comments]  |
| Starting my ABSN Program soon and was curious where to start any tips and tricks for Private loans Posted: 26 Feb 2019 06:01 PM PST I start my Accelerated Bachelors of Science Nursing soon. Program is 16 months. I need roughly $43000 of Private Loans and $13000 of direct subsidized and unsubsidized loans. I have no idea where to start with finding good private loans or what to even ask. My dad has great credit and so do I so how do I know where to look for my best options? [link] [comments]  |
| Taking a group approach to lowering the cost of college loans - Boston Globe Posted: 26 Feb 2019 10:21 PM PST Hey all, My name is Chris, and I'm working on an initiative to negotiate lower student loan rates. Check out the Boston Globe's coverage here. Over the summer, a friend and I were looking at student loan options for Harvard Business School and wondered if we could negotiate terms and rates with banks. We gathered a group of 700 people who needed financing, pitched the portfolio to dozens of lenders, and had them compete for our business. You can see how far we got here. We haven't made any money off it, but we've saved MBA students ~$3.3M in interest charges so far. I'm ignoring all summer internship opportunities to try negotiating better deals before students need funds next Fall. Could I get your thoughts on what might make you hesitate to use this program? Any thing you particularly like or dislike? Would really appreciate any and all thoughts! Thanks! Chris [link] [comments]  |
| Posted: 26 Feb 2019 09:28 PM PST I scheduled my final loan payment including the full payoff amount to go through today with FedLoan. Hours later I log in and my interest rate increased by $0.25 so that my balance doesn't show as zero. $0.25 increase in less than four hours. I know it's just 25 cents but I'm strangely infuriated that one more dig had to come through. How can FedLoan be THIS awful? The interest hike same day makes no sense to me. Is this just some screwed up normalcy for everyone? Edit: just realized I typo'ed the title. -stomps feet in frustration- [link] [comments]  |
| ACS/Conduent Missing from Existence? Posted: 26 Feb 2019 02:21 PM PST Hey guys, hope you are all doing well. Sorry if this question has been asked before. I searched and saw some from last year but the situation seems to be different now. I have a student loan from almost ten years ago now that I originally signed with ACS. ACS then sold my loan to Conduent (or ACS became Conduent, idk). I got an email from Conduent on August 2, 2018, saying my payment had applied as usual. I haven't gotten any emails from them since then, any letters in the mail, etc. Their website seems to be gone from existence. I can't get https://www.conduenteducation.com/ to load. Tried multiple PCs, different browsers, private browsing, etc. All of the phone numbers for them I'm able to find on Google say they're not in service any longer. Who the heck has my loan? I still owe a few grand on it and I want my 1098-E. I monitor my credit and it has not been taking a hit for missed payments or anything, but the payments have stopped coming out of my account. Thanks in advance for any assistance! [link] [comments]  |
| Parent Plus loan in collections - please help Posted: 26 Feb 2019 03:03 PM PST I don't need to go into every detail, so short and sweet - my dad informed me that ~36k from the Parent Plus loan is in collections. We have no idea what to do from here. My dad cannot outright pay it, cannot get a loan to pay it, nothing. He just retired in October, some of his tax return was taken & once he starts receiving social security they'll be garnishing a percentage. What can we do? Are there lawyers to help with this? We literally cannot afford this. He wasn't a government employee so it cannot be forgiven. [link] [comments]  |
| Leaving for university just to get away from family? Posted: 26 Feb 2019 07:26 AM PST Did anyone else have the option to live at home and go to a nearby university, but chose to use student loans to live at a different, further away in state university? Some days I regret just not sucking it up and living at home for another 4 years, but after recently moving back home for a bit I think I would rather have this extra $20k in student debt than to have been around that during school. [link] [comments]  |
| Posted: 26 Feb 2019 03:09 PM PST Ok so I want to elaborate on the title a bit here. As it doesn't do all the nitty gritty details justice. This was a surprise to me that I only discovered last week. We were discussing debt (I currently have none, paid off my college already worked and budgeted straight through) and she mentioned how she would be indebted to her grandparents forever. I was a tad confused at first. Her grandparents are very well off and she informed me they had paid for her schooling. What she failed to mention was they did so in the form of a loan. Of the fully formal private legal kind. Payments for which (monthly rate to be negotiated upon graduation ) will begin in a couple months when she graduates. She's out of state which is why it costs so much for her. She doesn't know many of the details as of yet (she's not always the most logical or proactive with finances, to be fair she signed it all at the ripe age of 18 at her families encouragement. Which to me sounds a little extortionary. Regardless she will be heading home for spring break soon and will have the opportunity to speak with her creditor (grandparent). What questions should I have her ask? Furthermore what should her steps from here be? I already have a budget and I am currently employed as a teacher (until I start medical school) she however hasn't done so yet and only has a part time student job. She's going into a upper five figure earning field but I can't imagine will break the 100k mark until her 40's. Furthermore she lacks residency and is wanting to go to grad school here too, which will only make matters worse. I'm worried she's being especially unreasonable considering just how much debt she'll be in. She has made some decisions that really make me question her better judgement (not getting in-state residency , not getting her driver's license going into a field that will require travel, and not looking into internships ect). She's not been practical, I admit, but I love her. There's a lot more to her than her poor financial accumen, which is arguably in retrospect her worst trait. Regardless despite this I'll be going to medical school and will likely be saddled myself with around 300k in debt and wont start earning till much later. We couldn't start a family or get married at this point or near future, or at least it wouldn't be a wise decision. At least given this new turn of events. Frankly I'm not sure how to work with her on this. It's not my debt, but If we one day want to truly be partners in life it will be. That's a daunting prospect. How should we proceed? What should she speak to her family about regarding the loan? What steps outside of that should we take? [link] [comments]  |
| Posted: 26 Feb 2019 10:15 AM PST My brother and I each have our own loans. I don't know exactly his amount but I would say we have a combined of about 50k-60K. I would like to hear some opinions on my idea of one of us getting a loan through a credit union or so, to pay off both depths and clear up one of our credit line/report. Ofcourse we would both be paying this new loan off, but I wanted some thoughts on this idea. Or if it's even possible. Thanks! [link] [comments]  |
| Please help a clueless borrower Posted: 26 Feb 2019 09:14 AM PST Hi everyone, Here is my student loan-debt profile: Total: $ 7,913.62 I served as an AmeriCorps volunteer a few years back and they knocked off about ~5k, so I'm now down to the ~7,9k in total with my student loans. I am currently overseas as a Peace Corps volunteer and did not opt for the IBR or anything because a next payment ISN'T due until year 2020*, and by that time I will be back in the States. *According to NAVIENT, a payment is not due until 2020 because of the amount that AmeriCorps paid. However, I accrue about $26.94 in interest, a month, for all of my loans listed below. Should I AT LEAST be paying $30 a month to avoid returning home with a bunch of interest to pay off, in addition, to my loan balance? I'm volunteering, so I can't pay more than about $30 a month; even though my payment isn't required until 2020. PS I have made small payments here and there, but it was pointless due to me not being consistent and the interest still steadily accruing at $26.94 a month. I also can't defer them because it is too late in my peace corps service to do so. My repayment plan is to do AmeriCorps again and get ~$6k towards my loans during my year of service in 2020. But I'm unsure how to manage my loans until 2020. Please be kind with your responses, I am trying to learn. Breakdown: Current Balance Interest Rate Due Date: $1,437.35 3.860% $1,437.35 3.860% 02/28/2019 📷 $1,756.93 3.860% $1,641.00 4.660% $1,640.99 4.660% [link] [comments]  |
| Posted: 26 Feb 2019 04:26 AM PST First off, sorry if I sound ignorant. I've never taken out loans before since I went community college for the first two years so money wasn't really an issue. I'm transferring to uni this year and I'm trying to figure out how much I can borrow annually to pay for my tuition. My tuition alone cost about 17k a year, and since I'm only gonna be in school for 2 more years the total comes out to 34k. I'm planning to take out loans to pay for all of it but I'm guessing federal loans can't cover everything? I read on the fafsa website that I can only take out a maximum of $7,500 a year (as a third year undergrad) but the aggregate limit is 31k. Does the aggregate limit apply to first time borrowers who only have two years left in college? [link] [comments]  |
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