Information for Students Attending Argosy University Student Loans |
- Information for Students Attending Argosy University
- Don't forget to claim your student loans interest tax deduction (up to $2,500)
- I feel screwed. I don't know what to do.
- I have $4000 to saved specifically for student loans. I'm still in school and will graduate spring 2020. Should I contribute now or keep saving?
- $14.3k loans via Nelnet. Graduated 6 months ago, applied for REPAYE based on $6k income from 2018. Now don't need to make payments for a year, but that doesn't feel like a good idea.
- My Loan Situation is Scaring Me
- Student loan for certificate program?
- My Fiancé has $47000 in Student Loan Debt. Do we pay it off fast or save for a house and slowly eat at it?
- PSLF question
- Made an account just to ask this. Can I take parent PLUS loans to pay off my loans?
- ELFI Refinancing Question
| Information for Students Attending Argosy University Posted: 19 Feb 2019 04:07 AM PST Please see this article. In short, the ED is going to pull back all the aid received by the school this term. This means you won't be getting your credit balances. It also means you won't be held liable for that particular loan. https://www.washingtonpost.com/education/2019/02/19/education-dept-steps-help-argosy-university-students-shorted-million-financial-aid-dollars/?noredirect=on&utm_term=.7c822ae14fc2 I will continue to post updates on this thread and will ask the mods to sticky it for at least a few days. The ED has said they will post more info for students in the coming days. In my opinion, the writing is on the wall that this school is in danger of imminent closing. If I were a student there, I'd be contacting the accreditor to find out what other schools will accept your credits. It's very possible the ED, accreditor and school will organize a teach-out to allow those students to complete their degrees, but it never hurts to get a jump on this. You should also be aware of the rules for a closed school discharge. You can read about them here http://freestudentloanadvice.org/loan-forgiveness/closed-school-discharge/ This does NOT appear to be a borrower defense discharge situation - the school didn't commit fraud that I can see at this point - they just ran out of money. Those of you who graduated from this school in the past - your degrees are still relevant and you will still be liable for the loans you took to obtain those degrees. EDIT - When the ED updates students on this situation it will likely show up here https://studentaid.ed.gov/sa/about/announcements/closed-school EDIT -- the ED has updated info here https://studentaid.ed.gov/sa/about/announcements/dream-center EDIT - apparently the receiver has filed a lawsuit placing blame on the corps financial situation https://www.educationdive.com/news/receiver-dream-center-colleges-may-have-improperly-requested-title-iv-fu/549083/ EDIT - I have several national news organizations looking for affected students to talk to. They want people to share their stories as to how they have been affected by these events. If you are willing to talk with them, please PM me your email address and first name. EDIT - among other things - I tweeted at the ED about the phone issues - they responded as follows: "We are aware about the phone issues. If you're calling the Default Resolution Group (1-800-621-3115) they are currently experiencing higher than normal call volumes during this peak tax period. We apologize. You can also reach us via email: http://bit.ly/2T8jUxb " [link] [comments]  |
| Don't forget to claim your student loans interest tax deduction (up to $2,500) Posted: 03 Mar 2019 06:56 AM PST |
| I feel screwed. I don't know what to do. Posted: 03 Mar 2019 02:56 PM PST I fucked up. I'll take responsibility for that. I made a really bad decision in my early 20s, that resulted in me failing out of grad school and having debt that is disproportionate to my current salary. I thought I'd have an M.S. in a different career, but that didn't happen. I love my current career, but it's not lucrative. I make $37k/year. My student loan balance is $103k with ~6% interest and I've been on PAYE since I left school in 2015. My current monthly payment is $106/month which I expect to go up slightly when I recertify in a few months. That's fine. I can swing those payments. I love those payments. But they don't cover interest, and I can barely keep my head above water with 3 roommates. This thing is a ticking time bomb. I am going to be absolutely screwed when I have to pay taxes on that forgiven amount. I just don't know what to do, man. I feel like I'll be paying my entire life for a mistake that was made when I was a "child." If I could go back, I'd do a thousand things differently. But that doesn't help me. What can I do? Continue to make minimum payments and hope for some sort of windfall or new forgiveness legislation in the next 15 years? Give up my dream career and grind at a job that hurts my mental health? Accept that I won't be able to save for retirement until I'm 45, and throw that extra money at my loans? I feel so trapped and helpless. [link] [comments]  |
| Posted: 03 Mar 2019 03:26 PM PST I've been following Dave Ramsey's plan for about 6 months and managed to save about $4000 cash for student loans. My plan was to save as much as possible, then start repaying as soon as I had save up to the current balance. or I can avalanche and keep saving for another few months and then pay off loan 2, the highest principal. Here's the breakdown: Loan 1: (principal) $3,500; (accrued) $0.0; (%) 4.29; (current) $3,500 Loan 2: (principal) $6,000; (accrued) $819.23; (%) 4.29; (current) $6,819.23 Loan 3: (principal) $4,305; (accrued) $0.0; (%) 3.76; (current) 4,305 Loan 4: (principal) $2,000; (accrued) $164.39; (%) 3.76; (current) $2,164.39 [link] [comments]  |
| Posted: 03 Mar 2019 12:29 PM PST I am freelancing/part-time working towards full-time, which I should achieve in the next 6 months (living at home still so have few real expenses). My income in 2018 was about $6k so that's what the REPAYE amount was based on. Even though I technically owe $0 per month, my expenses are low so should I try to contribute something each month if I can or wait until I have a "real job" to start automatic payments? Will I get penalized in some way if I make small payments sporadically? Seeing the interest accrual is a little scary and I'm not sure that my impulse to start paying ASAP makes logical sense if I'll only maybe cover the interest, and maybe it would be a better idea to save for moving expenses. It feels "too good to be true" that I have to pay $0 per month right now. I am convinced that I should be paying something. I'm not sure how to research this. Should I pay into them right now even if I "don't have to" or focus on saving? How are you supposed to handle things like this when your income is not super predictable yet? I'm having an anxious day which isn't helping me think clearly, unfortunately. Sorry if this is garbled. I sent a "Help" message to Nelnet a few days ago regarding this but no response yet. Thank-you for reading my anxious rambling. [link] [comments]  |
| My Loan Situation is Scaring Me Posted: 03 Mar 2019 04:09 PM PST I made a 11k last year and want to file for a tax return. I have 63k in student loans, of that 8k is private. I am 17 months out of school and did not realize my loans would need to be re-certified for income based repayment. I am in default. I did not have a phone number or stable address until late 2018 and I really didn't realize that my loans could go from 0 a month to 700 a month. Please understand I know I have been negligent in that regard and calling me an idiot or asshole won't help anything. I make 1200 a month now and a good 2/3s goes to rent, transport, groceries etc. I really don't have anything like spotify or hbo coming out monthly. I am a frugal grocery shopper and outside of maybe once or twice a month emergencies I use the bus for my transport. I don't have cuts to make in my budget and things like my phone plan and apartment are rather affordable. As a recently unhoused and food insecure person I can tell you that pennies have been pinched. I am reapplying for income based repayment with my paystubs as I file taxes. I could really use the emergency find that my tax return could start and I don't want it or my paycheck to be garnished. Through getting back on my income based repayment plan or through deferment or forbearance can I return my account to current? I should ahve been paying nothing the whole time but I didn't know I could lapse. Is there a way to keep my full tax return so that I can have a bit of cushion? Can I file my taxes without being placed on the hook for payments I really can't afford? P.S. I am not supported by anyone else, no family etc and from highchool until very recently things like housing or food where not certainties in my life even as I worked and was a student fulltime. I really need to stress that having a safe home and a working phone means alot. I have my degree and this would be my first time making enough to file taxes but I am scared to death of being ruined again by a financial situation I am so confused about and desperately want to get a handle on. [link] [comments]  |
| Student loan for certificate program? Posted: 03 Mar 2019 07:20 PM PST I know it's a long shot, but is there any loan out there for someone who's tuition would be around $5k for one year but wants to borrow close to $30k so they could focus on school full time? Excess money would just be for living expenses. The schoolwork requires tons of hours of practice outside school so taking a year off of work would really allow them to progress very far in their field. It's not for a degree, but for a certificate. [link] [comments]  |
| Posted: 03 Mar 2019 06:06 PM PST We both are already putting 10%+ into our 401ks + I am maxing out my HSA (we do not have ROTH IRA's, yet). We want to purchase a house for approximately $500,000 in 2 years time. We save $5000 every month and just recently have been putting that money into a HYSA @ 2.1% while paying only $1000 spread across all 3 loans every month. Our only debts are her loans which include the following:
I have $23,000 currently saved that I originally wanted to keep in our savings account for us to use for 20% down on a home. But the interest amounts on these loans are 2-3x what we would save in the savings account, which has been bothering me. So my question is, what would be the best order in paying off these loans be, to maximize the most of our situation, while still saving for a home at the same time? [link] [comments]  |
| Posted: 03 Mar 2019 12:46 PM PST I was searching some information on PSLF. I am going through the application process but I am not getting consistent answers on the phone and the information online is confusing. I am trying to get as much information as I can so that I cannot be rejected. So far I met the work requirements at a non profit and am full time. I am in the process of changing to an income based plan. My biggest question that no one can answer is the consolidation piece. Currently all my loans are direct federal. I have several unsubsidized, subsidized, and grad plus direct loans. I also have 2 Perkins loans but they are small and will be paid off in a year. So in order to qualify do I need to consolidate all of my direct federal loans? They are all under the same loan servicer nelnet but each one has different interest rates and some have different due dates. Just seeing what other know so any help is appreciated. [link] [comments]  |
| Made an account just to ask this. Can I take parent PLUS loans to pay off my loans? Posted: 03 Mar 2019 10:10 AM PST |
| Posted: 02 Mar 2019 08:16 PM PST Hi all! I recently decided to refinance through ELFI, as my private loan rates were way too high. I have a questions about the service, though. My approval letter says that my total loan amount comes to around $38k, and I have a Finance Charge of about $24k, which will total a $62k payoff over the course of my payments. Is this finance charge what I'm being charged to use ELFI? Like is this a fee? Or is this just the amount that I'd be paying in interest over the course of my payments? My rate is around 5.4% if that matters. I just want to be sure I'm doing the right thing by refinancing, I don't want to pay another $24k if I don't have to. I'm coming from Firstmark with a 7.5% fixed rate, at $350 per month. [link] [comments]  |
| You are subscribed to email updates from Advice, articles, and general discussion pertaining to student loans.. To stop receiving these emails, you may unsubscribe now. | Email delivery powered by Google |
| Google, 1600 Amphitheatre Parkway, Mountain View, CA 94043, United States | |
No comments:
Post a Comment