Spent way too much debt for a bachelors and my public service forgiveness loan is ruined - what do I do? Student Loans |
- Spent way too much debt for a bachelors and my public service forgiveness loan is ruined - what do I do?
- How will you celebrate once you're FINALLY done paying it all off?
- What college did you go to? What was your major? How much student loans did you have after graduating?
- Is there anyway to appeal PSLF denial?
- I really need advice.
- Collection agency adding an extra 3K on student debt!!!
- First Republic Bank (Credit Report Pull)
- Advice: Stupid mistake has become way worse
- 20k in student loan debt supporting fiancé and two young children.
- Borrower Defense-Student Loans
- Borrower’s Defense to Repayment - Interest Cancelled?
- Plan of attack (Listed all my loans)
- Private Student Loan - Misleading statements by lender
- Advice for a current student?
- Stay in deferment or go back into repayment?
- Best strategy for paying off
| Posted: 28 Mar 2019 07:22 PM PDT Okay, so when I was 18 and applying to colleges, my parents made it seem like they would help me out a substantial amount with college payments, and I would only have some student loans. I definitely trusted my parents more than I should have with money the making the correct decisions for me. I'm currently 5 years out of college and long story short, I recently found out that I have over $100,000 in loans for a Bachelors, which I know is an INSANE amount. My parents are terrible with money, and I did an awful thing trusting them to help me at 18 years old... They did not pay for any of my college like I thought they were going to/like they told me they would. I have 3 loans. One is a public service forgiveness loan (PSFL) which is forgiven after 10 years. I should have been about halfway done with this loan. I contacted them earlier this week, just to double check how much time I have in. They basically told me that since my dad refinanced my loans recently, it erased all my PSFL, and I would have to start from scratch. I'm obviously shocked and terrified now. I spoke to my dad who said that he messed up, but didn't want to tell me about it. My question - what do I do? I've been put in such an awful financial situation by blindly trusting that my parents would guide me. Hearing that I owe $100k in student loans on top of my PSLF being fucked up, I feel so trapped and helpless. [link] [comments]  |
| How will you celebrate once you're FINALLY done paying it all off? Posted: 28 Mar 2019 08:09 AM PDT Or, how did you celebrate if you're already done? I think it's helpful and motivating to visualize the finish line every once in a while. Would love to hear everyone's plans. For me, I think I'll treat myself to a REALLY nice bottle of scotch and a fat cigar. And just sit outside and get drunk under the stars. Maybe use my useless degree as a drink coaster. [link] [comments]  |
| Posted: 28 Mar 2019 08:07 PM PDT How much did tuition cost each year? Did you get any financial aid or scholarships from the school? Did you have help from your parents? Did you work during the school year? I'm just scrolling through this sub and the amount of debt some people are in makes me scared for my future. It makes me wonder if they went out of state for school, went to a private school, went to a prestigious school, or just didn't have any financial support... [link] [comments]  |
| Is there anyway to appeal PSLF denial? Posted: 28 Mar 2019 09:18 PM PDT I submitted a PSLF application this past February and just got denied. My application package included my last recertification letter, which indicated five remaining payments as of 9/26. I made payments for October, November, December, January, and February. That looks like five payments to me. The day after my last payment cleared, I submitted my form, along with this letter and payment history from the servicer site. Now they say that i didn't make enough payments! WtF? Who can I plead my reasonable case to? This is very disappointing and I really thought my application package was thorough. Ugh. [link] [comments]  |
| Posted: 28 Mar 2019 10:16 PM PDT I lost my job, got pregnant, finally got on my feet, got married and started working my way out of default on my loans, THEN my husband almost died, I had to quit to take care of him and it took almost 3 years for his disability come through. It was hard (it still is) HOWEVER, I am FINALLY out of default. That being said, I cannot afford the payments they want me to make and my request for the Income Based Repayment plan was apparently denied. My husband gets SSDI, to the tune of 1,700 per month. I get a caretaker check for $425 and our son gets $425 That's: Mortgage: $500 Electric: $300 Trash: $60 Water: $80 Gas: $100 Phones: $100 Groceries: $600 Medication: $300 Doctors/Therapies for husband: $200 Netflix: $10 Internet: $40 We're only left with about $250 left over per month but to be honest, we usually end up in the hole because the car will mess up, or the AC will need a part or, just last month, our refrigerator broke. No savings. They want me to pay over $500 per month on my student loans. THATS MORE THAN I MAKE. I'm in tears, I don't know what to do. Advice please. I have proof of income. The woman on the phone was confident I would end up paying closer to what I was before (about $5 per month) but then this happened. I waited over a month for this decision and this is bad... [link] [comments]  |
| Collection agency adding an extra 3K on student debt!!! Posted: 28 Mar 2019 09:01 PM PDT Hello there, general audience. Allow me to give you some background..... Along time ago, in another state far, far away... after enduring years of physical and verbal abuse, my father threatened to kick me out of the house if I didn't go to an expensive, private university he assured me he was going to pay (or so he could brag about he was paying). Guess what! He paid one semester, told me to continue on the next semester by taking a private loan promising me it was only a temporary problem he will pay and promptly take care of it. Guess what he did next!! Yeap, he didn't paid crap. I was left in in a perfectly balanced shitty situation, as all things shouldn't be. On one hand, I could not continue my studies at said university because it was too damn expensive, and on the other, I couldn't transfer because said university wouldn't release my transcripts until I paid what I owed. To top it all off, this was back during the financial maelstrom of the late 2000s. After nearly dying from an illness, but on my feet again, I find my self being able to paid this debt. A collection agency recently took away my federal return. I called said CA (collection agency) and said I owe 10k. Now, after calling the University I previously went to, verifying that I owe 10k and them providing them with the number of CA. I called again, but now they want an extra 3k!!!! They said the University is charging me that extra amount. Can they do that, extra fees for what? Should I request a letter from said university telling me what is the actual debt I owe. Should I request a letter from the CA, telling me what is the actual debt and also, shouldn't both of those numbers match? I can financially paid the 10k-13k or whatever it is, I have 17k on the bank now, but I just don't want to give this away. How should I go about this? [link] [comments]  |
| First Republic Bank (Credit Report Pull) Posted: 28 Mar 2019 07:41 PM PDT Looking to refinance my loans with FRB in a few months. I know that they want a 750+ credit score to get the top rates. Does anybody know what credit bureau they pull (EQ, EX, TU)? I've got above a 750 on EQ and TU. I'm at a 740 on EX. I'm also looking into a new credit card so I'm hoping to avoid any hard pulls on the bureau that FRB pulls for refinancing. [link] [comments]  |
| Advice: Stupid mistake has become way worse Posted: 28 Mar 2019 08:06 AM PDT Hi all, I thought I had paid off my student loans in 2015. I was totally underwater and had been caring for an elderly relative. When he died and I got an inheritance, I gathered my bills, negotiated with my lender, and made a lump payment. I received a "paid in full." And then all the bills stopped. That's the thing. I stupidly didn't realize I'd had two separate lenders. Suddenly last month, 2019, I receive a bill from a collections agency -- my other loan has gone into default and the whole amount plus $20k is now due immediately. Because it's gone to collections, I'm blocked from even calling the Fed, although I'd rather deal with them, and would have been if I hadn't made this mistake. Advice welcome. I know I'm stupid and a terrible person, so emphasizing that won't be helpful. I'm also certainly at the lowest point of my life right now. I don't know what to do. [link] [comments]  |
| 20k in student loan debt supporting fiancé and two young children. Posted: 28 Mar 2019 07:11 PM PDT So, I have two loans. Both are up two 10k each. We barely scrape by after all the bills are paid. I just received a notice for proposed wage garnishment. Anybody else in a similar situation? Any advice before I fill out and send In the financial statement? [link] [comments]  |
| Borrower Defense-Student Loans Posted: 28 Mar 2019 10:12 AM PDT I filed Borrower Defense last year Oct 2018 and I still have not received any notification. My loans are placed in forbearance and my interest has been increasing significantly high. Does anyone know how long does this typically take? [link] [comments]  |
| Borrower’s Defense to Repayment - Interest Cancelled? Posted: 28 Mar 2019 04:32 AM PDT Back in January 2016, bitter about college and desperate for a break after my wife had a medical condition, I filled out a form on a website that generated a borrower's defense to repayment which I submitted. The loan was soon after in deferment which has been renewed automatically for several years. I didn't want all the interest building up, so I paid what I could for a number of years. Because of delays, it appears that the Department of Education will be cancelling interest accrued after 1 year. https://studentaid.ed.gov/sa/about/data-center/student/loan-forgiveness/borrower-defense-data That's actually quite a substantial amount for me. However, I feel that my borrower's defense form was ill-founded. I went to a state college and graduated with a BA in Biology and filled out the form more in bitterness than anything else. I learned later that the form was intended for defrauded students. I'm not sure how long my loan is going to stay in this processing interest-free state. Either they are very backed up, or processing the ones that appear more relevant. Has anyone else filled out any of these forms, got one approved, denied? [link] [comments]  |
| Plan of attack (Listed all my loans) Posted: 28 Mar 2019 11:33 AM PDT Hey guys, so I will be graduating in May and will be required to make my first payment in November. I just wanted to share my situation and listen to different ideas on how to tackle the huge amount of debt I have. Here's the link to all of my current loans: https://www.dropbox.com/s/umh0j1bdxe4uatr/chrome_2019-03-28_14-06-01.png?dl=0 Some info: - My estimated salary is $65k yearly. I am leaning towards using PAYE. Will be filing single. - I don't foresee a huge increase in my salary; the ceiling is around 90k. - I am currently not married but probably will try to get married in near future - If I do, my spouse would make similar $ as me. Some specific questions:
Any ideas are welcome and thank you for your time. [link] [comments]  |
| Private Student Loan - Misleading statements by lender Posted: 28 Mar 2019 03:12 PM PDT Okay so the lender promised me an income based repayment plan. The plan lasts 9 month and during that time I have a lowered interest rate. They took the monthly payment then placed my loans on forbearance for a month (a week after agreement). My question is that wouldn't this use up my forbearence time? and aren't loans full interest during forbreance? and can do this shady stuff (changing plans out of no where) without asking or notifying me? [link] [comments]  |
| Posted: 28 Mar 2019 02:11 PM PDT Hi everyone, I'm currently a sophomore in college and just looking for some advice. I've done the math and should be around 26-27k in debt with student loans by the time I graduate with my BA in digital marketing and data analytics. All of my loans are federal, about $8,000 is subsidized and unfortunately the rest are unsubsidized. I'm moving back home to commute for my final two years to save money on room and board. Does anyone have any advice they wish they knew before graduating regarding student loans? I'm planning on getting a job (40 hrs in the summer and 20-30 during the school year) but other than that I really don't know what my next step should be. Thanks! [link] [comments]  |
| Stay in deferment or go back into repayment? Posted: 28 Mar 2019 08:40 AM PDT Hi all, I'm working full-time and recently started a post-bacc premed program. I work admin for the university where I study and get great tuition benefits, so I'm not taking out any loans right now. (And don't plan to until med school. Already in too much debt from my music undergrad and grad degrees!) Since my employer is eligible, the payments I was making before the post-bacc counted toward PSLF (around 20 payments so far). Because I'm technically back in school, it was reported to FedLoan Servicing, who put all my federal loans into deferment. Right now I'm making my regular payment while they're in deferment, which is being applied to the $1700 accrued interest. Not that I'm holding my breath for PSLF, but my question is should I go back into repayment so my payments start counting for PSLF again, or should I continue to make my full, regular payments while they're deferred and try to pay off the current interest balance? If I put them back into repayment, I assume the interest will capitalize. If I keep them in deferment, at least I'm not accruing interest on the subsidized loans. Not sure which is the better option. Any advice? Thanks! [link] [comments]  |
| Posted: 28 Mar 2019 08:26 AM PDT Graduated last May and now making student loan payments. I could do these calculations but I'm sure you'll know the answers. Fed loans: $30,800 4.47% fixed rate Parent plus: $21,471 6.75% fixed Private: $17,541 8.5% fixed For the last 4 months Ive been making a $100 extra payment on both the federal and private loan and $50 extra payment on the parent plus loan. Would the best strategy be to apply my full extra payments to the private loan? I'm not sure because the other two loans have a much higher balance. [link] [comments]  |
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