153k down to ~2k as of this week. Student Loans |
- 153k down to ~2k as of this week.
- The Secure Act Would Allow Individuals to Pay Student Loans Expenses Through 529 Savings Plan (Tax-Free)
- Today, I was on hold with a man at Navient, he told me he was looking into the problem that he couldn’t solve. When out of no where I am suddenly on the phone and talking to a new lady he had directed me to. Come to find out he directed me to a ski lodge in Colorado.
- Thank you
- Satisfactory Academic Progress Appeal Letter
- Just Graduated from University with my Bachelors and Going Back to School for My RN Degree. Do My Previous Loans Go Back on Grace Period Again?
- Has anyone successfully sued Fedloan Servicing?
- TEPSLF and ineligible repayment plans
- literally have no idea whats going on.
- Can someone help a future freshman college student understand loans and also give some advice
- Can’t I just divert all my income after college to my loans?
- Do I request the amount of loan I need for the entire graduate program or just for the year?
- About to start my teaching career in August. I currently have roughly $30,000 in student loan debt. How long will it take to pay off if I’m very serious about it?
- Successfully appealed Navient decision using Consumer Financial Protection Bureau
- Heartland ECSI removed their only no-fee direct pay option
- At a loss-close to 85,000 in debt. Don’t understand my options or best route
- idk what to do
- Is NationalClaimFiling.com a scam?
- Hoping to gain some knowledge regarding options available to my situation
- Certify PSLF but not switch services?
- Refinances That Take Credit Cards?
- Recertifying ibr
- Need Help Deciding How to Pay Off Student Loans
- Could someone who is knowledgeable about Canadian OSAP (Ontario) student loans give this a read and tell me what they think?
| 153k down to ~2k as of this week. Posted: 03 Apr 2019 06:07 PM PDT It can be done. Never give up. We worked hard at our small business for 4 years, got serious about paying it off 2 years ago, and decided to immediately liquidate a childhood settlement in the form of stocks to the tune of around 30k and simple ground down the rest. Big payments are nice, but loans are ultimately about consistency. We are about to cross the finish line with the goal of recovering our emergency fund, saving 20% of what we earn, and maybe having a kid in a few years. You can do it. Leverage your time wisely. Aggressive mindset. Persistence. Small goals add up to big goals. Get ahead of interest. No expensive travel or minimal if necessary. Most importantly be sure to not skimp on things like books and things that teach you skills to leverage yourself wisely. Good luck. 🍀 [link] [comments]  |
| Posted: 03 Apr 2019 06:30 AM PDT This measure is expected to pass as it has bipartisan support. If it passes, you can contribute up to $15,000 per year to your 529 Savings Plan and then use that un-taxed money to pay off your student loans. Thanks /u/horsebycommittee for clarifying - this will not reduce your federal AGI. [link] [comments]  |
| Posted: 04 Apr 2019 12:46 AM PDT |
| Posted: 03 Apr 2019 12:13 PM PDT I want to thank a u/spookychooks for a post they made roughly 8 months ago in regards to a scam call going around. This scam call hit my phone today and when I googled, this post was the first that popped up. Thank goodness for people like this! [link] [comments]  |
| Satisfactory Academic Progress Appeal Letter Posted: 04 Apr 2019 01:28 AM PDT At the beginning of 2017, I was struggling through a lot: the pain and pressure in my head associated with my wisdom teeth impacting my second molars, my family abandoning and stealing from me, and the isolation I put myself in with my friends and teachers. Because of my pain and struggles I chose to numb my mind and body using cocaine; it took away the pain in my mouth and kept my focus off of my list of life problems. For a full year my life was about the acquisition and consumption of cocaine in seclusion and by the end of 2017 I was strung out and constantly having to make the choice between cocaine and food. This period of being sober and using again brought the inner demons I was avoiding to the surface and ultimately led to the epiphany that I was acting suicidal and against my best interest. I wanted the cocaine to kill me so I did not have to deal with my problems, but I also did not want to die. This reignited my drive to be healthy and productive and I started handling money such that it kept it out of my hands in my downtime and in the places I needed it to go(e.g. rent, food, dental savings plan). I also put in mental checkpoints to help change my frame of mind to be more optimistic, accurate, and future oriented; and by the mid-point of 2018 I had enough money saved up to get my four wisdom teeth and 3 impacted molars extracted. This small success has propelled me into ten months of sobriety and making better choices for my health and future. Currently, I am seeing a counselor at the Center for Young Adult Addiction and Recover on campus and actively surrounding myself with the structure and support I will need to finish my education. Anything? [link] [comments]  |
| Posted: 04 Apr 2019 12:49 AM PDT I graduated recently with probably around $20k in loans, but I'm looking to go back to school again at a different location. Would my previous loans go back into grace? If not what are my options to possibly pause it as I go back to school? [link] [comments]  |
| Has anyone successfully sued Fedloan Servicing? Posted: 03 Apr 2019 04:08 PM PDT If anyone knows an attorney who has experience dealing with Fedloan jackasses, please let me know. My situation doesn't fit into one of the many class actions they're facing. [link] [comments]  |
| TEPSLF and ineligible repayment plans Posted: 03 Apr 2019 11:34 PM PDT I've been reading recent media about the Temporary PSLF legislation from 2018. I'm about 6 years into PSLF and have two years back in 07-09 under an ineligible repayment plan which would put me closer to 8 years. When TEPSLF came out I never bothered to apply because I haven't reached 10 years yet. I thought I read recently where the Dept has changed rules related to TEPSLF but their website doesn't seem any different than before. I realize it's first come first served under this program. So my question - is it worth applying now that I see about 26,000 people are already ahead of me in applications? Do ineligible payments actually get credited if approved for TEPSLF prior to the 10 year mark? [link] [comments]  |
| literally have no idea whats going on. Posted: 03 Apr 2019 09:50 PM PDT I got this letter that stated my student loans were going into default. It warned me that they would take my tax refund, garnish my wages, exc. My debt did transfer out of my original loan holders accounts. It took me a couple days to get through the busy helplines(1-800-621-3115) and start making a repayment plan. When I brought it up with a relative they became very aggravated with me doing this over the phone. "How do I know I am sending the money to the right people or that they are not just lying to me to get me to pay my debt faster than I am acturally capable of", are the points he brought up. What has me more anxious is my tax refund came in... so now im thinking I wasn't talking to the governent because if my loan defaulted would they not have kept the refund ? I was going to print out the form from the website provided with the letter which keeps changing formats or I keep going to differnt sites and send two weeks of pay stubs to this address US Department of education default consolidation group p.o "if this is the right place im going to have to get the p.o again my numbers smeared" greenvill tx 85403 (My question is have I been talking to the government or...) [link] [comments]  |
| Can someone help a future freshman college student understand loans and also give some advice Posted: 03 Apr 2019 09:47 PM PDT It's almost 1am and I have to make final college decision in less than a month and I don't know what to do cost wise My goal is to move to New York to be closer with my dad but Cost of attendance and the thought of going into debt is keeping me up The school I have my heart set on cost $40K living on campus and and $26K without living on campus... the con about a not living on campus is the commute is an hour and 30 minutes plus a 2 mile walk ( bus & train) in a not so safe area I also have the choice of attending A semi-inexpensive out of state public school, I've heard good things about but haven't visited so I'm kind of hesitant to turn a blind eye and just commit cause it cost $14K... Or stay home and attended a in state public school and live at home with my mom only paying $2-7K in tuition. with a scholarship that covers 75% of tuition :// I hate to have my parents take out so many loans. I never want to put a finical burden on anyone. I'm literally in tears thinking about the cost right now So basically what my question is what are the best loan options? Are parent plus loans a good choice? How is the recommended amount? How do I not freak out every other day about the cost of college? If you were in my shoes what would you do? Edit: I applied undecided, I had an idea of what I wanted to do but just wasn't sure if I wanted to fully commit to it... my major of choice would be psychology with getting masters. [link] [comments]  |
| Can’t I just divert all my income after college to my loans? Posted: 03 Apr 2019 02:06 PM PDT So I will be living with my parents after college until I am financially stable to live on my own. I am not exactly sure how much debt I will be in but I know it will not exceed 54,000. Considering I will be majoring in computer science and the average starting salary is around $60,000 , would it be smart to just focus that whole year's salary on my loans? In my head it seems very logical but there might be something I am missing here. [link] [comments]  |
| Do I request the amount of loan I need for the entire graduate program or just for the year? Posted: 03 Apr 2019 07:08 PM PDT I am unsure about this. I have never applied for a loan so I am unfamiliar with the process. Any help would be great! [link] [comments]  |
| Posted: 03 Apr 2019 07:06 PM PDT I will be making $51k this school year, $55k next school year. $16,000 is from Wells Fargo, $10,700 in government student loans. I have been paying minimum payments on the Wells Fargo loan even though I'm in school but letting the 3 government ones stay on hold till I'm paid more than just babysitting money. I want to be debt free as soon as possible, and I read these posts regularly but get a bit confused. My monthly expenses will be $1,200 I assume after rent & bills, what is the best way to go about paying it all off and how long will it take me if I am aggressive about it? [link] [comments]  |
| Successfully appealed Navient decision using Consumer Financial Protection Bureau Posted: 03 Apr 2019 11:07 AM PDT I am a teacher in a title I school so I qualify for teacher loan forgiveness. I am finished with my 5th year next year and if your balance with accrued interest will be under the forgiveness amount by the end of the 5th year, you can get your loan into forebearance until then. I applied because my balance should be under $5000 by the end of my 5th year. They denied my application twice. I've sat on hold with them multiple times for over 30 min, only to speak to someone in a foreign country who could barely understand what I was asking about and have been hung up on by their customer service every time. I'm not rude, just assertive. I filed a complaint with the Consumer Financial Protection Bureau and within 3 business days, Navient reversed their decision and I got my loan forebeared! You have to apply yearly so I will have to reapply in August but hopefully I won't have to go through all this again. So if you're having problems with Navient, please try the CFPB! [link] [comments]  |
| Heartland ECSI removed their only no-fee direct pay option Posted: 03 Apr 2019 08:01 AM PDT Recurring payments are now the only way to submit payments without a fee, which will harm students looking to repay their loans faster. Direct bank account payments are now an "E-Check" payment that have a $1.95 fee for any amount. Credit/debit payments cost $1.00 + 2.40% of the amount, which is absurdly high (and customer service said + 3.95% which contradicts). Some images below with customer service confirming that the no-fee option was actually removed; it had been there previously. Someone with an extra $1000 would pay the $1.95 fee, which is only an extra 0.195% fee via the E-Check option. However, someone with an extra $200 would pay the same $1.95 fee, which is almost a %1.00 fee. While it is smart and recommended to budget to make increased monthly payments for free, it is not always possible. Tax returns, bonuses, gifts, etc. are all unpredictable amounts of additional money that would be best as a one-time loan payment. This cannot be factored into an average monthly deposit when this money cannot be counted on existing. It is not reasonable to expect someone to have to increased their monthly contribution to the loan for a single month and then reverse it after the payment is made. I'm posting this mostly from frustration since this is another small way repayment is made harder. And not even Navient does this BS (as of Feb 2019 when I last made an overpayment). Transcript excerpt: https://imgur.com/OJQmsr9 Screenshot of fee listings: https://imgur.com/nodhLFm $200 Payment: https://imgur.com/cUldCMZ $1000 Payment: https://imgur.com/nY1LPyY [link] [comments]  |
| At a loss-close to 85,000 in debt. Don’t understand my options or best route Posted: 03 Apr 2019 06:46 AM PDT Hello all, I appreciate anyone taking the time to read this and give any advise that they can. Current situation-41,000 in debt in my own name, 45,000 in debt mothers name (parent plus loan), total of around 80-85,000 in debt. ((Side note** my mother also has loans in her name for when she went to school for a few years. So she has her loans for her school as well as the parent plus loans.)) When we applied for parent plus loans our financial student aid advisor gave us the impression that I would be able to transfer the parent plus loan into my name post-graduating. That isn't the case and as far as I am aware you cannot transfer the loan. Because of this, I now have to make two payments, one for the loans in my name, and one on the behalf of my mother as she is not able to afford the payment and we have an agreement that I would be the one paying it. The trouble is the loans in my name and the loans in my mothers name are not considerate of one another. Both loans are based in income driven repayment. Therefore, the ones I am paying in my name are based on my income, the others on my mothers income. This quickly adds up to unaffordable for me. Mine alone are 330$ right now and my mothers are around 350-400$. I'm assuming it would end up being cheaper/more affordable if I could get all my loans in my name under one payment, based solely on my income. But I can't figure out how to do that. I can't leave my mom hanging as she cannot afford these payments. I do not know what to do. I'd appreciate ANY advise of help. If I need to provide more information I am willing to do so. Thank you all. [link] [comments]  |
| Posted: 03 Apr 2019 01:22 PM PDT I'm a senior in high school right now and just finished up hearing back from colleges and surprisingly got into Stony Brook University with an Area of Interest in Biomedical engineering (meaning I have to take the same courses but meet the requirements to be admitted to the BME program). I had a hard time throughout high school with my parents filing for bankruptcy, getting divorced, and my mother committing suicide last year. My Dad and I applied for financial aid through the FAFSA but our EFC was still $21k despite the single parent/income status. It was hard to keep a good GPA through high school because of the circumstances of my family life. Despite everything else I did well on the SAT and got a 1410. Stony Brook sent me my financial aid information but I only received $5,500 in the form of unsubsidized and subsidized loans. This isn't surprising because of my GPA but it was nonetheless disheartening. After the loans, I have $39k total left to pay for my freshman year. I would be willing to take on private loans but most require a cosigner but my father cannot cosign because he filed for bankruptcy along with my mother in 2017. I could ask one of my aunts or uncles but I don't want them to have to do that for me. I really want to attend Stony Brook but I have heard back from other schools but most are in about the same price range. My state school still hasn't sent me a decision but they don't have a program for my major anyway. I have an investment fund thing in my name with $25k in it right now but if I withdraw from it now it will be heavily taxed. Once I turn 25, I can take it out with minimal taxation and I was planning to use that to help pay off my loans. My father said if it comes to it he could take a loan out in his name but he'd have to touch his retirement fund. Im lost and don't know what to do I want to attend SBU because they have a great BME program but I don't want to make it harder on my Dad or anyone else because of me. Im applying for all the scholarships I can now but I doubt I'll receive any. [link] [comments]  |
| Is NationalClaimFiling.com a scam? Posted: 03 Apr 2019 12:52 PM PDT I got a text from these people saying they want to discuss a federal student loan refund for the school I attended based on the Social Security number associated with my Borrower Defense to Repayment application. I have submitted that form, but it says the application is still under review. I can't find anything saying these people are a scam, but I also can't find anything saying they're legit. I don't want to give them my information if it's bullshit, and honestly, I don't know if I trust a text from a financial institution that starts with "HI!" Has anyone dealt with these people before? nationalclaimfiling.com [link] [comments]  |
| Hoping to gain some knowledge regarding options available to my situation Posted: 03 Apr 2019 08:24 AM PDT Hello Reddit! I have some questions trying to gain some knowledge. Brief background so you understand: I am not sure this is the exact place for this but I thought it is worth a shot. Just like majority of my age group, I have student loans (roughly $42,000). I attended medical school for 2 years and because of a multitude of reasons, left (I hated it, was unhappy, and wanted to pursue research). I was been working in medical bioscience research labs at U of Chicago and now Northwestern. I will be attending graduate school starting in August 2020 at Northwestern. My loan is with Sallie Mae (yucky) and is about $430/month payments with 5.5% variable interest rate. High credit score. So I wanted to gain some knowledge from you guys. Is this rate and monthly payment reasonable? Can I improve it somehow? I understand that sometimes people refinance loans, but I am not sure I will get a much lower rate. Are there any grants/financial help for student loans specific to the research field that I should consider applying for? [link] [comments]  |
| Certify PSLF but not switch services? Posted: 03 Apr 2019 08:15 AM PDT Me and my wife both use Greatlakes, which we love. We both are on IBR plans and work for state government for a few years now and should qualify for PSLF. I would like to submit the paperwork but I have read they will switch you to FedLoans which I know have issues. I am guessing there is no way around that? I want to be 100% sure that I am qualifying for the PSLF and have no other choices [link] [comments]  |
| Refinances That Take Credit Cards? Posted: 03 Apr 2019 11:39 AM PDT Does anyone know a student loan refinance company that takes credit cards? No--I'm not going to put my balance on credit cards because I can't afford the payments. [link] [comments]  |
| Posted: 03 Apr 2019 11:24 AM PDT I got on IBR when I was super poor, now I make better money and my IBR payment is the same as my standard payment would be. Every year they ask for recert and I haven't been sending it the last few because it wouldnt change anything and I could always reapply if I was in dire straits (this is not likely). They keep me on IBR anyway. Has anyone else had this experience? Should I change what I'm doing? I've still got 60k to go and I've paid as much already. Onwards I guess. [link] [comments]  |
| Need Help Deciding How to Pay Off Student Loans Posted: 03 Apr 2019 08:47 AM PDT I recently graduated college in December with ~54.5k in student loans. I just accepted a job making 65k/yr. My company matches 50% of what I contribute, up to 7%. Meaning if I contribute 14%, they will contribute 7%. I plan on contributing 14% to max the contribution from my company. I need help deciding how I should pay off my student loans. I will lay out my expenses and what not below. Monthly Income (after taxes and payroll deductions): $3,923.96 Monthly Expenses: $1,858.33 (shown below) Rent: $725, Utilities: $75, Food: $200, Gas: $100, 401k: $758.33 Leftover: $2,075.63 I will eventually be getting off my parents car insurance and getting my own, I just don't know when and will not include that as of now. My health insurance is included in payroll dedications. Internet and TV is included in utilities (very cheap). Student Loans: ~26.5k Private Loans and ~28k Federal Loans These are my Private Loans with Rates $13,062.85 - 8.625%, $7,249.35 - 8.625,%,$6,049.36 - 11.625% I plan on refinancing these very soon. The best rates I could find are with Earnest at 5 year plan-5.4%, 7 year plan-5.59%, and 10 year plan-5.66%. I have 12 Federal Loans totaling ~28k with rates between 4-5%. I have two options that I need help with deciding which is better for my situation: be as aggressive as possible and pay ~$1,100/month for 5 years or do a 10 year plan and pay ~$600/month but pay a chunk of my savings every now and then to cut down the principal. Any and all advice is welcome and appreciated. Thank you! [link] [comments]  |
| Posted: 03 Apr 2019 08:41 AM PDT This is a very weird complicated situation so thank you to anyone who actually reads this through. I am Canadian and live in Ontario, between 2017 and 2018 I attended a private career college to do a two year software development course, I had applied for OSAP and was approved. My funding was mostly comprised of grants and the rest of it was a loan, but 5 months into my program at this school, the teacher was always late, he started to be spread thin over 3 different classes, and everyone in my class including myself agreed that we just weren't learning anything even remotely useful anymore. One by one I saw classmates withdraw from the course because it was just a big, expensive waste of our time. Eventually I withdrew as well. When I withdrew from the course I found out that the grant portion of my funding had been converted into a loan (because I didn't finish my course). But because of the timeframe of when the school took the first installment of my funding and when I withdrew, I got off scot free and only had to pay a small fee of $30 to be free from my student debt. They told me that although I am debt free, if I ever wanted to use OSAP again, I would probably need to pay a percentage or all of the loan that I got away from. I didn't think I would need to use OSAP again, so I didn't think that was too bad. I had other opportunities present themselves in the form of a above average paying job in the Canadian military. But roughly a year into my recruitment process, they found something in my medical records that was looked over and deemed me u fit for service due to medical reasons. I am now going through with my backup plan, I want to go back to school, no private career colleges this time. I have applied and been accepted to my program of choice, and although I can afford to pay for my college tuition (just barely) with my savings, I would really like to get OSAP funding to help with all the college's extra fees and also for my living costs while I am attending school. I am wondering if I contact OSAP and make an appeal saying that my previous funding was intended to get me an education, and that I didn't receive that education from the school I attended, maybe they will let me apply for funding again without me having to pay back my previous loan. If need me I'll apply for grant-only funding, anything would help at this point. It's a nightmare trying to get ahold of anyone at the NSLC or OSAP, so before I go ahead and try I wanted to see if anyone here knows what course of action I could possibly take. [link] [comments]  |
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