So close yet so far. Fighting burnout. Student Loans |
- So close yet so far. Fighting burnout.
- Under what cases do mortgage companies not look at 1% of your student loan?
- Should I dip into federal loans to take Summer and Winter courses to get through college quicker?
- Where did you get your loan from?
- AES Reviewed my Disqualification to "36 consecutive month interest rate reduction" incentive and denied it. Next Steps?
- Is income based legit or what am I missing?
- Accidental late payment with Cornerstone?
- Received a threatening letter from the student loan mobsters and am panicked
- Student loan forgiveness options?
- My wife has $14k in federal student loans. She does has little income and has no assets. What can they threaten her with?
| So close yet so far. Fighting burnout. Posted: 05 Feb 2019 08:53 AM PST I started with 61k of student loans in October 2017 and now have that balance down to 28.6k. The private loans have just 3.2k left and I'll be paying those off in March. The federal loans will have 25.4k or so on those. I am feeling burnout. How do I fight it? [link] [comments]  |
| Under what cases do mortgage companies not look at 1% of your student loan? Posted: 05 Feb 2019 03:48 PM PST Hey all, I'm looking at buying a house. I'm so confused right now. The last time I went looking for a mortgage a couple of years ago, the loan officer told me I wouldn't qualify for any loan with my income, due to my student loan, bc they would look at payments of 1% of the entire balance instead of my income based repayment numbers. Recently, I started looking again, but my income has not changed much. This time, the loan officer is telling me that I'm pre-approved, and they will be looking at my income based repayment numbers. Has something changed, or am I being bamboozled? [link] [comments]  |
| Should I dip into federal loans to take Summer and Winter courses to get through college quicker? Posted: 05 Feb 2019 04:06 PM PST I keep going back and forth on whether or not this would be worth it. After this semester, I will have $32,000 in federal loan debt and 18 classes left to take. My Pell Grant has increased and now covers half of this semester's tuition but I run out of grant money in three years. On a 4-class schedule, I'm adding roughly $2300 each semester to my federal loan debt. Should I keep doing four classes in the Fall and Spring only? Or should I try and take one or two additional courses each summer and winter to try and speed it up? [link] [comments]  |
| Where did you get your loan from? Posted: 05 Feb 2019 03:53 PM PST Should I get it there too? Thanks! Sorry you had to get a loan. [link] [comments]  |
| Posted: 05 Feb 2019 05:27 PM PST Hi All - I had noticed previously that a few incentives on 5 of my loans from undergrad were not granted the KB1 and PN3 Borrower Benefit Program (1% and 2% interest rate reduction after 36 consecutive on time payments). Basically, back in 2014 there was an issue with my IBR application - I can't remember if they lost a page or if I didn't scan it fully (I think it was a missing page or document). Related to that, my direct debit setup must've expired due to the adjustment of my payment. That caused a payment to not process and I was technically late. I was communicating with AES about the issue, and basically what needed to be done was a forbearance to bring the account current. I did that (as far as I can remember), at their recommendation and I definitely asked if there would be any negative impacts to my account and I was told no. I may have (and I believe I did) ask about the impact to my borrower benefits, and I was told there wouldn't be any. Fast forward to now and the rejection noted above. I told AES about the issue and received this response: To qualify, the first 36 consecutive full monthly installments must be received within 15 days of the due date each month. If the full monthly installment is not received within 15 days of the due date, your loans will be disqualified from the BBP. Your account was due for a payment on [X date], but the monthly installment was not received within 15 days of this due date; therefore, your loans were disqualified from the BBP. The BBP is not reinstated based on timely payments after the disqualification date. Also, your eligibility for IBR must be reviewed yearly. While there was no negative impact to your account, other than the disqualification from the BBP. You had requested a forbearance be applied to bring your account current, however, the forbearance wa requested on [18 days after x date], more than 15 days after the [x date] payment was due. The disqualification is valid and the BBP is not reinstated based on timely payments after the disqualification date. Naturally, I disagreed because as far as I can remember I was discussing this with AES well before the 15 day period the rep. mentioned. I responded and said I disagree and would be appealing and requested copies of correspondence/documentation that they reviewed, including conversations and transcripts of calls (because I'm almost positive that would show AES represented there would be no issue prior to X date. My question is - any chance of having this reversed through either through the CFPB or the FSA Ombudsman? I didn't see this on AES' page, but Navient has an "Office of the Customer Advocate" - does AES have anything like this? I haven't heard anything back from AES since I replied and requested documents. Anyone have any thoughts/ideas? I plan to at least file with the CFPB and the Ombudsman if that'll do any good. I'm light on my own documentation (yes I know that's a problem, I'm still trying to find what I can). Any thoughts/help would be appreciated - 1% or 2% would be a nice help to me in paying these off, especially if retroactively applied. [link] [comments]  |
| Is income based legit or what am I missing? Posted: 05 Feb 2019 12:32 PM PST My loans are through Nelnet. Every loan I have is completely federal. My first payment is due at the end of April. Currently, the plan they have on me (graduated) is $600 per month. I make $53,000 gross a year. When doing the income based repayment plan calculator on Nelnet, it says my monthly payment will be $92. Is this legit? What am I missing? I was going to pick the extended graduated plan which is $400 a month, but if I can do income based and it's only $92 per month at $53k a year, should I? What is the downside of income based repayment, besides interest accumulation? What is the increment my payment expected to go up by when/if I get a raise? Thank you [link] [comments]  |
| Accidental late payment with Cornerstone? Posted: 05 Feb 2019 10:13 AM PST I have a loan with Cornerstone and I set up autopay in November for the 1st of the month. It said it would take a few months to "activate" so I've been manually paying since then. Well last week, I logged in and saw "automatic payment 2/1/2019" at the top and thought I was good, but I realized today that it never came out of my checking account, so I logged in to Cornerstone and it says I'm 4 days past due. I paid it immediately, I didn't see a late fee, but I'm worried and confused what's going on? Will it take even longer for autopay to kick in? How will I even know? I don't trust it now, but I don't want to keep manually paying every month for the next 9 years. Does Cornerstone have a grace period? I read through every FAQ and didn't see anything about what happens with a late payment except delinquency. How badly will this late payment affect my credit? Should I call them? I'm freaking out, I've never been late on a payment for anything in my entire life. [link] [comments]  |
| Received a threatening letter from the student loan mobsters and am panicked Posted: 05 Feb 2019 04:53 PM PST The company has never been willing to tell me exactly what all that money is specifically for. It's not right for them to ask for that kind of money from someone and not be able to tell them what it is for. I paid for my housing and food when I was wasting my time in a subpar school program. I would not ever agree to spend this kind of money on anything, because I've never had that kind of money. Signing up, I didn't know what I was getting into because they were not at all transparent about it. It's absurd, and they should not just be able to do this. We should not have to pay these dirty people when they do this, much less have them flex their dirty power and steal from us, and I am panicked about the possible options. You can see the letter here: https://www.reddit.com/r/studentloandefaulters/comments/ankueg/worst_fears_realized_received_this_threatening/ [link] [comments]  |
| Student loan forgiveness options? Posted: 05 Feb 2019 09:02 AM PST I graduated from a private school with a Construction management degree. I have all federal loans and a sallie Mae loan. Are there anyways I can get these forgiven or some of my debt forgiven? Have about $70,000 in debt [link] [comments]  |
| Posted: 05 Feb 2019 07:00 AM PST From a moral standpoint, I like paying my debts and not being burden to others. It gives me a sense of pride. I am paying off my student loans every month. My wife on the other hand has neglected her loans for the last 5 years. The IRS withheld our last tax return until I filed an injured spouse claim and it was given back. Her credit has been wrecked ever since I've known her so she wasn't listed on any of our assets. The cars, the house, and the bank account are all in my name. We do have a small joint bank account that usually has about $200 in it. She stays home with the kids and fills in very infrequently at her old job. Her 2018 W-2 says she grossed about $2,300. I get that repaying a loan is important to keeping our society working like it should and that having a sense of personal responsibility is also important. I'll agree this is a seedy question and thought. It's just, we're in a bit of a different circumstance than anyone else I've read about. I'm unable to find someone who has the same situation and it's making me wonder what would happen if she never paid her loans. She doesn't have any assets to go after. Would they just continue to keep her portion of the tax return and then eventually start garnishing her wages? It seems they don't have any course of action after that since she has no assets to come after. Has anyone heard of someone in this situation? What will eventually happen if she never pays? [link] [comments]  |
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