I Am Dead Inside Student Loans |
- I Am Dead Inside
- I paid off my student loans but my monthly payment was also auto-deducted so I overpaid. How can I ensure that I get my refund as quickly as possible?
- General question
- Data Retrieval tool help for married student
- College student, will be borrowing $14-20k in loans. Scared of all the horror stories. Advice?
- Help Please! Urgent Question
- How soon is too soon to reapply for student loan refinancing
- Recalculating PAYE payments filing jointly BUT using only my paystubs
- Medical school student loan help, married with family
- Taking Student Loans to Preserve Relationship with Parents?
- SoFi: Any way to schedule withdrawals on certain days of the week?
- Alternative Documentation for Income? IBR plan
- Repaying subsidized loans before graduating?
- REPAYE recertify due to spouse job loss?
- IRS site won't accept my loan account number for Verification
- Non Title IV student loan refinancing
- Is it worth it to pay, or just take the tax bomb?
- Is what I’m doing okay? “Recertifying Income (IBR)”
- Principle payment before or after refinancing?
| Posted: 26 Mar 2019 05:08 PM PDT My wife and I are both 37. She went to law school and I have three degrees in education. I make $65K and she makes $80K. We still live paycheck to paycheck (we have two kids in daycare). Just doing our taxes now and seeing that we still owe (together) $138,000+ makes me sick to my stomach. Honestly I just want to sell my house and take whatever we make and just pay it down but that wouldn't be enough to cover it. It is just never-ending. I only pay interest and most of my wife's payments are interest. Why did we do this to ourselves? I can still remember in high school - both of us debt free - just dreaming of our amazing lives ahead. No one told us one negative thing about loans or how they worked. We were both too stupid then to even look into it. Here we are. 37. No end in sight. Working our asses off as professionals. Applying for jobs constantly. Cannot get ahead. My wife's loans just keep being sold and the faceless entities she pays just shift like criminals. Now it is Nelnet (SP?). They don't have nice clean histories of what she has paid because they have been repackaged and sold off so many times. I cannot believe this world that we live in. What a joke. What a scam. I feel sick. I give up. [link] [comments]  |
| Posted: 26 Mar 2019 11:09 AM PDT I had student loans through FedLoan, which is a loan servicer for the Department of Education. I paid off the loans in full through their website, but this did not cancel my regular monthly payment, as one might've hoped, so that went through and they were overpaid by $578.04. I called Fedloan about this and the first person I talked to said he would put the refund through right away and made it sound like I'd be receiving it shortly. But when I didn't see it after a week, I called again to ensure it had been processed and the new representative told me it takes 7-10 days on their end to process and then up to 45 days to process via the U.S. Department of the Treasury. It seems really offensively inefficient that after paying off these loans without issue for years that they would now keep ~$600 of my money for such a long period of time. I would not be allowed such a courtesy if the roles were reversed and $600 is nothing to sneeze at. Has this happened to anyone else? What is the most effective way to make sure I get this refund in a timely manner? [link] [comments]  |
| Posted: 26 Mar 2019 08:21 PM PDT Say you have 2 loans, I have much more, but for this question assume 2.
Would you pay off interest on both first, or try and completely tackle the principal + interest on the 7.6%. This might be an obvious question, but I am new to this whole thing. [link] [comments]  |
| Data Retrieval tool help for married student Posted: 26 Mar 2019 07:53 PM PDT Hello guys, I'm trying to apply for student aid and I wanted to use the data retrieval tool to input my financial information to avoid the hurdles of having to submit IRS documents to my university. However, I filed jointly with my husband and I think it is causing issues with me being able to successfully use the IRS data retrieval tool. Would anyone be willing to guide me on how to input my information so that the tool may find my records? TIA :) [link] [comments]  |
| College student, will be borrowing $14-20k in loans. Scared of all the horror stories. Advice? Posted: 26 Mar 2019 10:52 PM PDT I have one more year of college and only just began taking out loans. I read a LOT of horror stories of people in way over their heads with student debt. Granted, these people often have significantly more debt then me, but I'm still terrified. What am I missing? How can I prepare myself to have the best start at repayment? I've gleaned some important information here, but would like some more help answering some worrisome things. What do I need to keep track of when borrowing? Do I need to be doing any communicating with my loan servicer while I'm in school? This is a maybe dumb one, that I've tried to do on my own, but I'm not sure I'm doing correctly: how do I calculate my interest over time as payments are made? What were things you wish you knew when you began borrowing loans? I realize 20k is a lot less than what other people are grappling with, but it's still the most I've borrowed in my entire life. I don't want to get caught making insane payments and never seeing a dent made in my balance due to interest. I'm so sorry if this is redundant. It's overwhelming sifting through information and I'm not sure where to start. Thanks for the time anyone takes to read this and/or respond. [link] [comments]  |
| Posted: 26 Mar 2019 06:33 PM PDT Hey! ok so here's the deal. I'm a nursing student. My husband was arrested this past fall for assaulting me. This weekend he threatened me with violence, and I got myself and my daughter out of there. Problem being- Currently we are staying with family, but we can't stay here forever. I go to a community college with no on campus housing option, and I can't seem to work out if I could use student loans to cover most of my living expenses for the next 18 months until I graduate. Anyone have any idea how or if I could go about doing that? I desperately don't want to quit school, but we also can't crash with family for that long. I know this isn't ideal, but neither is this situation, and I'm seriously at the end of my rope as far as options go- even the local DV shelter's housing is at capacity. thank you! TLDR: My kid and I had to gtfo of house to escape abuse. Jobless, and damn near homeless student attending community college- can student loans cover my living expenses (re: rent) until I graduate? [link] [comments]  |
| How soon is too soon to reapply for student loan refinancing Posted: 26 Mar 2019 12:31 PM PDT I applied to refinance with MEFA in January and was declined because my credit wasn't high enough. It was about 680 then, and I've worked on this over the past three months so it is now 705. I have $65,700 in private student loans (Navient, Sallie Mae) that I want to refinance. The interest on my Navient loans are the highest at 13.5%. I want to refinance so the payments I make actually make a dent in my principal. How soon is too soon to reapply with another company? Obviously I dont want to ping my credit too much with hard inquiries...just desperately don't want to be paying so much money every month to see my principal only go down a hair. [link] [comments]  |
| Recalculating PAYE payments filing jointly BUT using only my paystubs Posted: 26 Mar 2019 07:44 PM PDT I can't seem to find anything on this. I have PAYE. I want to lower my monthly payments because I now qualify for PSLF. Is there anyway i can file jointly, both me and my spouse make sizable incomes, to get a better tax return BUT not use our tax returns to do the yearly recalculation. It is my understanding that PAYE does not have to take in account my spouses income but not using the IRS retrieval, the form specifically asks for my spouses income (pay stubs) in addition to mine. As it being PAYE, do they take my spouses information into account if I include it? Is there anyway not to include her income information on the form that I don't see? If I do not include my spouses income information on the form, am on the hook for not being truthful (even though they shouldn't be looking at her income)? We have looked into filing married but separate , which would lower my payments but not enough to offset our larger tax bill/lower return. My servicer is FedLoans. Thanks [link] [comments]  |
| Medical school student loan help, married with family Posted: 26 Mar 2019 08:16 AM PDT Hello and thank you for your advice! I am graduating medical school is May with 210k student loans and 24k interest that hasn't compounded yet in direct federal loans with interest rate of 6.5-7.9%. I am married and have a child. My husband makes ~100k a year but I've made nothing the past 4 years. We are trying to decide on a repayment plan that makes the most sense. Moreover how we should file our taxes this season married jointly or separately? In the past we file jointly for tax benefits. Ideally I would do PSLF as I have 6 years of residency in a qualifying institution in front of me. However, I'm not against paying the whole loan off as quickly as possible once I'm making a real doctor salary. I realize that this leads to two different plans repayment wise. As I understand it for PSLF I should try to make minimum payments to maximize forgiveness. So perhaps PAYE but then I have to qualify for PFH and would have to file taxes separately from my husband. Would I qualify then? The other route, I'd want to pay as much as I can per month and reduce interest so perhaps refinance to a lower interest rate privately. I really don't know what's best. Furthermore, I currently have 25k, that I can put to the loan now. Where would it be best spent? Or should I not spend it at all? Long term, our plan is to buy a house in 1 year using my husbands inheritance money so have to consider making monthly payments on that. And we will have to put our baby in daycare in a year which is also a hefty monthly expense. My expected salary for the next 10 years is as follows: 1 66k 2 67.5k 3 70k 4 73.25k 5 77k 6 80k 7-10 ~200-250k Again I really appreciate the advice. I'm also open to paying for an expert consultant as there's so much money at stake here and would appreciate recommendations! [link] [comments]  |
| Taking Student Loans to Preserve Relationship with Parents? Posted: 26 Mar 2019 02:40 PM PDT Hey guys I need some quick advice Parents are very, let's say, INVOLVED with my young adult life. I feel like I have no privacy in anything that I do (21 F). I am a decent student in a great engineering program, and involved in many extracurriculars, work two part-time jobs on campus in my field, secured a summer internship at my dream company, have a great friend group, and frankly have had a pretty ok college experience. I have two years left in my undergrad degree, and have come to a breaking point with my parents regarding money. They insist on knowing where every penny goes, whether it's money that they have given me or money that I have made for myself. There have been many occasions that they have threatened to stop financing my education. Let me provide you with the latest example: My mom saw a purchase in my email account for an adult toy (I was logged in on her computer, but she was snooping a little. This has been a common theme). At first she was worried that I was involved in something dangerous, and coerced me into telling her that I am having a casual relationship with a friend. This is not information that I wanted to share, and I feel like my privacy has been incredibly violated. I understand her worry, but she continued to criticize me saying "she didn't know who i was anymore" and I have to "respect my future husband and yourself". I do respect myself immensely. I have been in therapy for 3 years for anxiety and depression and it took me a very long time to get to this point. Recently, my parents have suggested that my therapist is driving our family apart, but that's a whole other story. Later, my mom admitted she was mostly concerned about how I'm spending my money, or as she worded it "their money". I make enough money to pay my utilities, pay for food, and have a bit leftover for other expenses and fun money (parents pay the majority of rent, very expensive where i live, I don't make that much in a month). That's the key there. Any time I purchase something that is a non-necessity, I don't hear the end of it. I am a firm believer in a balanced life, work and play. My parents, not so much. Their argument is that if they are paying for my education, I should be giving them any money I have left over from my jobs. I am grateful for their contribution to my education thus far, but I think it might be time for me to take over. My mental health is suffering tremendously always being under this level of observation. I don't want to fight with my parents about money anymore. I'm at a point where I think I would rather incur around 100k in debt to feel like I have some privacy and to end these daily battles that end with me in tears and feeling more depressed than before I started therapy and antidepressants. I brought up this possibility to them and they are not in support. They would not bail me out if i am unable to pay my bills or buy groceries. If any of you have been in a similar scenario, I would really appreciate some advice, or to hear how it turned out for you. Also, I would like to know if either my behavior or my parent's has been unreasonable. An outside perspective would be greatly appreciated [link] [comments]  |
| SoFi: Any way to schedule withdrawals on certain days of the week? Posted: 26 Mar 2019 05:49 PM PDT I recently refinanced with SoFi. Any way to schedule withdrawals on certain days ie every other Weds, Thurs, Fri, etc. The reason is that I am paid on a Thursday, and I would like my autopayments to be withdrawn a day or 2 after. Currently SoFi only allows you to schedule on a target date of the month, but not on certain days. [link] [comments]  |
| Alternative Documentation for Income? IBR plan Posted: 26 Mar 2019 08:49 AM PDT Does anyone know how to submit alternative documentation? I'm supposed to re-certify for my PAYE under PSLF. I'd prefer not to use the online tax retrieval tool just because my AGI will look funky from a house sale in 2018. Unfortunately it doesn't look like there's an option online to submit alternative documentation such as paystubs, salary letter, etc. Any advice is appreciated! [link] [comments]  |
| Repaying subsidized loans before graduating? Posted: 26 Mar 2019 12:29 PM PDT If I have loans that I know I can pay off before graduation, could I set up a payment plan to do it over time without incurring any interest? I was thinking about setting up a new credit card and paying off my loans every month through it. [link] [comments]  |
| REPAYE recertify due to spouse job loss? Posted: 26 Mar 2019 09:12 AM PDT I have loans under the REPAYE option which uses both our incomes to calculate the payment. My husband was laid off a couple of weeks ago with severance for 2 months. At what point would I ask for a recalculation of the payment? Once his severance is done? It's a difference of about $160 a month without his income which I'd obviously prefer to keep in savings while he looks for a job. [link] [comments]  |
| IRS site won't accept my loan account number for Verification Posted: 26 Mar 2019 03:07 PM PDT I'm trying to create an IRS online account and want to use my student loan account number to verify my identity. My number has a dash in it, but when I enter it in, the site says to only enter alphanumeric characters. Has anyone else encountered this? Any solutions? Thanks. [link] [comments]  |
| Non Title IV student loan refinancing Posted: 26 Mar 2019 02:06 PM PDT I did my MBA in Europe at a well known international school (Top 25 in the world). The school is not Title IV accredited. I am trying to refinance my loans from Navient but am having trouble finding a lender that will take a non-Title IV accredited school. I have good credit and a good income that should be able to absorb it. Any suggestions on who may be able to refinance would be greatly appreciated. As a slightly separate question, does it matter that I'm refinancing a Navient private loan rather than a school loan? [link] [comments]  |
| Is it worth it to pay, or just take the tax bomb? Posted: 26 Mar 2019 10:08 AM PDT Hello! Just looking for a little help/advice. I currently have about $80000 in student loans. I don't make much money, and I am currently on REPAYE, paying about $60 per month. I'm just wondering, is it advisable to let REPAYE run its course and just eat the tax bomb at the end, or is it best to pay as much as I can now? Even if I pay as much as I can now, I still do not think that I will be able to fully pay off the loans at the end of 20 years, so I will still have a tax bomb regardless. Is it wise to take the tax bomb under any circumstances, or is it just a trap that will cost me more money in the end? Any advice you have is more than welcome and I can provide more info if necessary. [link] [comments]  |
| Is what I’m doing okay? “Recertifying Income (IBR)” Posted: 26 Mar 2019 06:28 AM PDT I owe about 140k is student loans after graduating law school. I recently obtained a job with the federal government, so I am aiming for PSLF. Because of that, I am trying to make the smallest payments possible. I am on the PAYE plan. Here's my problem: I used a signed letter and submitted my income as what I make at my new job (just started it). I have my tax return from last year where I made only $5k total. Is it okay for me to recertify my income with my tax return to make my payments drop to $0? (Even though I already submitted info from my current job?) If I did do this, would my $0 payments count toward the 120 payments for PSLF? [link] [comments]  |
| Principle payment before or after refinancing? Posted: 26 Mar 2019 12:23 PM PDT I am going to be refinancing my student loans, but would also like to make a large payment towards the principle ($10k). Is it better to make that payment before or after refinancing? [link] [comments]  |
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