Can you make an argument to Navient that your actual discretionary income is less than their formulated amount using 150% of the poverty line? Student Loans |
- Can you make an argument to Navient that your actual discretionary income is less than their formulated amount using 150% of the poverty line?
- Where do I find the minimum monthly payment amount on a loan
- Coming (full) monthly payment; I'm barely competent, fairly broke, and quite desperate. Advice?
- 13k Private loans officially defaulted. No job/wages.No assets for them to take. How likely can I negotiate down to less than 50%?
- Trying to reduce my student loan debt while working retail is difficult. So. Many. Cute. Clothes.
- Roughly $140K in Private Student Loans. Looking for advice.
- Subsidized loans are accruing interest and I don't know why...?
- Loan amounts increased when servicer changed
- Has anybody managed to get a student loan to study medicine in the carribean? How? And did it cover everything including living expense?
- PSLF, marriage, and paying our debt down quickly
- Should I Consolidate or Rehabilitate
- Leave REPAYE?
- Refinance some loans with company like SoFi
- What order should I pay these 3 loans off?
- Joint versus separate filing.
- Advice on Heartland ECSI?
| Posted: 01 Feb 2019 06:27 PM PST This seems like it'd be a common question, but I can't find an answer to it. Basically, if I do the math to determine my actual discretionary income (take-home pay minus fixed expenses), it's much less than taking my pre-taxed monthly income minus 150% of the poverty line. Using their formula, my discretionary income would be about $4000 / month. In reality, my actual discretionary income is closer to 1300.00. This means that my loan payments end being nearly a third of my discretionary income, which is tough. Is there any to make this argument to Navient and have it matter? Or will they only use the 150% formula? [link] [comments]  |
| Where do I find the minimum monthly payment amount on a loan Posted: 01 Feb 2019 07:09 AM PST Hey everyone. This seems like it should be easy but has alluded me so far. I have 10 loans through Navient and am trying to find the best technique to pay them off with unbury.me but I can't find what the minimum monthly payment is on each loan. Is there any way to find that on the Navient page? [link] [comments]  |
| Coming (full) monthly payment; I'm barely competent, fairly broke, and quite desperate. Advice? Posted: 01 Feb 2019 09:16 AM PST Throwaway for obvious reasons. Lurker for 2 years on Reddit. Never made a post or comment, same with all other social media. I do upvote, though :) So...massively in debt. Total right now = 150k. No private loans. Graduated last May after limping through the final year. Haven't worked a day since. Applied for income based repayment (IBR) in December based on my wife's income (granted). Made the first payment late in January. I didn't realize that this would revert me back to full payments (triple the IBR amount). The payment is coming due very soon, and it is more than I have ever paid for rent (just turned 40). There is no way that I can make this payment. Simple question: what are my options (aside from suicide and leaving the U.S.). I've already applied for IBR again, and have gotten a reply that my application has been received. I can barely look at it, but I believe I was instructed to continue to pay the amount listed while my application is being processed. I know it's not good etiquette to put this out there w/o checking past posts or doing my own research. First, I don't trust myself to do it. Second, as should be obvious by the above facts, I do not pull my own weight in life, even with something so simple as making a payment through an electronic system. This is the internet, and obviously there's a lot of mistakes to point out / laugh at. You're free to do so, but know that I've probably already acknowledged those mistakes and beat myself up about them. I'd sum things up with "lazy coward". I also know about a certain prevention line, so no need to post that phone number. I just really need advice on this specific problem: full payment due soon and too big after I fucked up and made my first IBR payment late. I could also use a perspective that shows how this is not catastrophic. Happy to answer regarding information I'm not providing. [link] [comments]  |
| Posted: 02 Feb 2019 12:03 AM PST Haven't worked for a few yrs due to health issues which brought me to this financial mess. I live w my supportive retired parents. I'm at this point of not worrying about my credit score- I won't be purchasing any cars or renting/buying home in my future at all with my situation. I'm looking to make an offer and settle and just get rid of this loan. I've been getting those 'threat' letters for Litigation and read online of possibly getting sued. But I don't have anything for them for wage garnishment or assets. Any negotiation advice on how to get them down to accepting 3k-5k from a 13k total? (I'd have to borrow from family) Wondering if possible to do this without a lawyer(more $). Should I disclose my situation?—health issues/no job/assets. I would think they'd rather take something now than nothing for years. Also, if they do summon me in court, they can't do much with me...so not worth court costs for them right? Anyone had a decent experience negotiating w Navient? [link] [comments]  |
| Trying to reduce my student loan debt while working retail is difficult. So. Many. Cute. Clothes. Posted: 01 Feb 2019 05:58 PM PST What is everyone's weakness when it comes to spending recklessly?? Any helpful tips to resist the urge? [link] [comments]  |
| Roughly $140K in Private Student Loans. Looking for advice. Posted: 01 Feb 2019 10:36 PM PST Hello all! I graduated from college in 2009 with over $100K in private student loans that I needed to pay back. My father is a co-signer on all of my private loans as I didn't qualify by myself back then. I earned a BA in Creative Writing with no plan of what to do with it. I didn't fully understand what I was doing back then, and simply signed for the money to get me through school because I grew up thinking that I needed a degree to get a good job. Still, I take full responsibility for the mess I've made, and now I just want to be free of this burden. I almost defaulted on my loans shortly after I graduated because it was a behemoth of a task. I hid from my responsibility at the time, and my actions ruined my relationship with my parents. I have to own that. I guess I'm looking for any advice on how to tackle these loans. I'm not above crowdfunding, but it seems like I hit a dead end when trying to talk with the loan companies. I initially borrowed from Citibank, but they sold my private loans to Discover and Firstmark. I defaulted on the small amount of federal loans that I took out as I couldn't keep up with the payments back then. The small amount of federal loans I had went to Delta Management Associates, and they have been taking 15% of my paycheck ever since. They also take my tax returns every year. Here is an estimated total of what I owe: Discover - $76K roughly Firstmark - $53K roughly Delta Management Associates - $10K left roughly (originally $25K before garnishment) I keep being told that there is no consolidation offered from either Discover and Firstmark. Delta gives me the runaround to avoid answering my questions so that they can force me into one of their 'helpful' payment plan options. I'm getting no answers and no help, and I can't defer my loans forever by taking classes all the time. I would love to try consolidation, but no one will give me a loan to do so due to my high debt to income ratio and my defaulted federal loans. How can I free both my father and myself from this burden and get on with my life? TL:DR I owe a lot of money in private student loans/I have been told that I cannot consolidate for years by the companies or that they don't offer it My federal loans defaulted, resulting in garnishments that have made it difficult to live The least I want to do is get my father off of my account to free him from any responsibility [link] [comments]  |
| Subsidized loans are accruing interest and I don't know why...? Posted: 01 Feb 2019 10:27 PM PST I received mail 4 months ago that my subsidized Stafford loan interest subsidy has been eliminated because I exceeded the max time allowed to complete my education program. The problem is, I have a 4-year degree and have only been in school about 5 years so far. Last semester, however, I fell below half-time at my main university, but was also taking credits at a community college for a total of 11 credits that semester, but I assume my loan service only knew about my main university. If I communicate that to them will my interest be paid and the grace period reset - since I don't think I should have entered a grace period in the first place? [link] [comments]  |
| Loan amounts increased when servicer changed Posted: 01 Feb 2019 02:19 PM PST I recall my loan total increasing by about double when my student loans changed servicers. Is there a way to validate that the amount I owe is correct? This happened years ago, I recall calling them and getting nowhere. [link] [comments]  |
| Posted: 01 Feb 2019 08:46 AM PST |
| PSLF, marriage, and paying our debt down quickly Posted: 01 Feb 2019 08:19 AM PST Hi everyone! I'm in a bit of an interesting situation and could use some guidance. My fiancé and I both have significant student loan debt ($125K for him, $110K for me). I'm on PSLF as my career is in nonprofit management. I recertify every year and I'll definitely be eligible for forgiveness in 8 more years. He earns $70K, I'm at $78K. We don't have any debt besides our student loans. I want to start aggressively paying down his loans as he won't be eligible for PSLF or any other forgiveness programs that won't result in a major tax hit. As such, I'm trying to figure out what makes the most sense in terms of our finances. I'm on PAYE, and my payment is $330/month. He's also on an IBR plan, and his required payment is around $250/month. He usually makes an extra payment of $250 each month, though this isn't even covering his ballooning interest. I'm hoping to contribute another $250/month. And, his company is now working with Gradifi to make contributions to his loan repayment (payment details TBD). So a few questions: 1) Should we avoid combining our finances (keeping separate bank accounts, filing married but separate)? I'm leaning toward this as I definitely need to keep my payments low to maximize PSLF. 2) How will our tax bill be affected if we don't file jointly? 3) Is it a smart move to use our wedding cash gifts to pay down his debt quickly? We don't plan on buying a home or having children any time soon. 4) How much should we try to throw at his loans per month to pay it down quickly? Thanks so much for your help! This sub is such an awesome resource. [link] [comments]  |
| Should I Consolidate or Rehabilitate Posted: 01 Feb 2019 05:40 PM PST So, foolishly i let my loan default. I owe one loan of $8,800 and ideally i'd like to go back to school soon. I want to get out of default as soon as possible. Can anyone give advice as to which option would be best for me? I have a decent part-time job and luckily enough I live with my parents so I pay no major bills. If I go the rehab route could I pay more to make the ten month process go faster? Thanks, any and all advice is deeply appreciated. This was a federal loan that got sent to collections. I know who has my loan (Reliant) but I just want to get my Ps and Qs in order. [link] [comments]  |
| Posted: 01 Feb 2019 08:23 AM PST Hello all, Was planning on enrolling into REPAYE next year after graduating med school. I have subsidized undergrad loans and unsubsidized grad loans. Probably will total ~150K. How do I make my first year monthly loan payment $0, is that automatic? Also after 5 years of residency, can I leave REPAYE and refinance for a lower rate? I was planning on paying the loans off in 2-3 years after residency as I'll be living like a resident but hopefully making 350/400 in a high paying specialty. My question is, if I leave REPAYE and refinance, will there be any penalties? Especially with the govt paying off some of my interest in residency. Or should I just stay on REPAYE and just pay off my loans in 2-3 years and not worry about getting a lower rate? Thanks in advance for all the help! [link] [comments]  |
| Refinance some loans with company like SoFi Posted: 01 Feb 2019 03:45 PM PST This might be a dumb question so sorry in advance if it is. I graduate in May and will owe about $160 in student loans through the federal government. The consolidated interest rate for those loans is 6%. The consolidated interest for SoFi is in the 5.7 range. However, when I look at individual loans there are about 20 in various amounts with varying interest rates. About $80,000 of my loans is around 3-4% interest, the others are around 8% (not exactly those exact amounts, but you get the point). that leaves me with about $80,000 in higher interest loans (some of which are small amount loans like $1,000 I can just pay back quick). I'm assuming I will get a better interest rate from companies like SoFi with smaller loan amounts.. so I guess I'm asking 1) is that assumption true, and if so 2) if it's possible to refinance some of my loans and keep the others with the low interest rate. [link] [comments]  |
| What order should I pay these 3 loans off? Posted: 01 Feb 2019 02:09 PM PST I heard higher interest first but in this case the higher principal of the bigger loan might outweigh the smaller loan at the higher interest rate? 1) $9,000 @ 6.5% 2) $23,000 @ 5.4% 3) $12,000 @ 6.2% I'm thinking 2>3>1? Or pay down #2 until it's about 10k then start paying off #1? Also, would consolidating these make sense? I've had these 3 loans for about 10 years paying like $190/month on IBR because my income was trash, but the principal was only going up every year. Now that I'm making decent money, my IBR repayments went from $190 to $530 (difference between making a 40k salary VS a 70k salary, I guess). So now I figure I might as well pay these off ASAP rather than trying to pay minimum until I run the clock out. [link] [comments]  |
| Posted: 01 Feb 2019 05:27 AM PST I have a question about filing married joint versus married separate. I make 55k a year as an engineer. No student loans. One year old daughter. My wife is in sales and makes between 20k and 30k working part-time. 13k in private loans and another 80k in Federal. Degree not finished. (She was up front with this before marriage.) My wife is on an income based repayment program and pays around 100 a month towards the private loans. According to her, she has not spoken to anyone regarding her federal loans. If I am correct, when we file jointly, our total income will be used to recalculate her payments. If we go ahead a file jointly, the loans stay totally in her name? Also, if we file jointly and she defaults on payments, that is on her and only her credit? We do not live in a community property state. Despite taking a hit on our refund, I think we should file separately and make sure monthly payments are manageable. She thinks it will not matter and her payments will not go up if we file jointly. I am guessing that since she has not spoken with the federal loan people, when she does that payment will be decently large. No need to make it larger with combined income. Is this logical? Finally, since this return is for 2018 and she paid nothing on the federal loans in 2018, does it matter either way? [link] [comments]  |
| Posted: 01 Feb 2019 03:48 AM PST I graduate this May and start working my first job in July. I have a $3000 interest-free loan that my school outsourced to Heartland ECSI. I have read absolutely horrible things about this company and am not excited to deal with them. Do any of y'all have suggestions on how to best pay back loans through them or deal with them in general? I just would rather not deal with the stress I've read people going through with this company. Thanks! [link] [comments]  |
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