Done! Student Loans |
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- I want to go back to school at 28 but I'd need to take a loan out, is this a good idea?
- additional debt for grad school worth it?
- How will dropping out & failing classes effect my loans?
- Need advice pleaseeee
- Student loans tanking my credit score, but I'm not in repayment yet?
- Upcoming College Student Seeking Advice
- Sallie mae to SOFI
- Out of options
- What You Can Do For Your Country Act
- I posted to finance they sent me here. Any advice?
- What was your plan to repay student loans? Need help figuring it out
- Does anyone have any experience with Sallie Mae payment auto withdrawal and manually paying more toward the loan?
- Can Discover take from my savings account automatically?
- I failed to make payments on my Navient loans between August 2013 and March 2014. Any chance of goodwill adjustment?
- I have a few questions to ask in regard to contacting Nelnet about canceling my deferment status. Has anyone here spoken to Nelnet and therefore can provide me with some advice?
- Most Effective Way to Pay Extra With Navient
| Posted: 17 Apr 2019 03:23 AM PDT I just made a ~$37,000 payment and I no longer have ANY student debt. Fuck you Sallie Mae/Navient! [link] [comments]  |
| I want to go back to school at 28 but I'd need to take a loan out, is this a good idea? Posted: 17 Apr 2019 05:29 PM PDT Here is my situation. I am 28 years old. There are a lot of personal reasons why I'm this old and haven't finished college. It's too much to get into for a loan advice. You can sum it down to severe anxiety and depression disorder that I've been getting over with help. I want to go and finish my associates in 1 year at community college. I work an IT job that doesn't pay well, and is pretty unique in that it gives me a broad set of skills. I currently have a certification from the college that took about two years full time to get. I take home 10.50 an hour and have wildly varying hours. I don't live with parents, but I still live with family. I'm completely financially independent, have a car with no monthly payment ,pay for all of my own stuff and no debt. My goal is to move out during the fall and go to school full time. I currently have 6195 from a pell grant and around 3000 in savings. I plan on attempting to get a work study for another 3000-4000. I am expected to recieve about 1000 in scholarships. This puts me at 13,2000 Housing where I live in Ohio can be cheap. There are student housing that costs less than 500 a month, all utilities payed, plus there are roommates as an option if there's no room. I have spent time crunching numbers and I expect my total cost of living to be about 16,000 for the year, 19,000 for the high end, 3000 of which would go to tuition. Living with family during this is not ideal, I've gained a very strong will to move out and gain my Independence after recovering from my issues, the mental relief would be greatly beneficial to my grades and work ethic. What are your thoughts on this, am I being realistic? I think less than 5k debt is very ideal to finally finish my associates and try and land a decent paying job. [link] [comments]  |
| additional debt for grad school worth it? Posted: 17 Apr 2019 10:13 PM PDT So i'll be graduating with a bachelors soon with about 40k debt in federal loans. Its from an Art school(ha!) but a top one with a name and decent network of alumni and resources so I'll likely find some sort of job in the field. I applied to a graduate school on a whim, they offered 14k a year scholarship, 40k a year tuition. The graduate degree, a MFA with some skill in art means i can go the route of teaching art in colleges. If i want to go to graduate school i'll be about 90-100k in debt, all federal loans. The way i understand it, i can make my loan an income based payment where i'll pay 10% of my income and then be forgiven in 20 years. So my question is does this sound worth it? The art field can be inconsistent, i know i'll find something out there but with the graduate degree a teaching job would be nice and honestly something I've always been interesting in doing and a good base to make money while doing freelance on the side. It seems at the end of the day i'll be paying 10% of my income for a long time either way but as long as it stay 10% i'll never be truly in danger of being crushed by the debt so why not take on some more to get a decent job? Is this reasonable or am i missing some crucial factor? edit: also,I forgot to mention this but wouldn't a teaching job qualify for loan forgiveness after 10 years? It'll likely take me that long to pay off my initial loan anyway, why not just take on more and then have it offset after the same amount of time anyway? [link] [comments]  |
| How will dropping out & failing classes effect my loans? Posted: 17 Apr 2019 09:58 PM PDT I know I sound like an absolute slacker mess but here goes: So I understand that you need a 2.0 GPA to keep federal student loans, but my case is a little weird. I am planning on dropping out at the end of the semester (3 weeks away) so I know that regardless of what my GPA is, I will need to start paying those loans within 6 months. I got a high enough GPA last semester that I can fail up to 2 classes and still have a 2.0, but I'm wondering if somehow my GPA dipped below that at the end of the semester if it would change my loans somehow and I would have to start paying them earlier or something? Or have them retroactively revoked and just be completely bankrupt or something... I have no idea how this stuff works, clearly. Im not looking for a lecture on my future or grades or anything, college isn't for everyone and at this point I'm so checked out and absolutely certain that I will never be returning to university and I honestly do not feel like putting my best effort in these last few weeks. I'm also recovering from some pretty severe medical problems and I just want to focus on that for now, and will have to leave mid-finals week to seek further help in another state, so I'll have to miss 2 finals (hence the failing). Anyway thanks for anyone with any info/help! [link] [comments]  |
| Posted: 17 Apr 2019 04:58 PM PDT I'll try to keep it short: Go to UT Austin and leave with 50-60k in debt OR Go to local University (still tier 1) and graduate with little to no debt (I have up to 2 years worth of credits they will accept) What makes the most sense financially? I know I'll leave option 2 with no debt, but could I make a higher return and make more income at the better school or will the prestige not really make a difference in my career? btw: looking at finance, engineering, or maybe even medicine. [link] [comments]  |
| Student loans tanking my credit score, but I'm not in repayment yet? Posted: 17 Apr 2019 04:18 PM PDT I am currently a graduate student sitting on about $60k in student loans. Since I'm in school full time I'm not in repayment yet and according to my loan servicer I'm current on all accounts. This month I checked my FICO score and it has dropped nearly 50 points from January to March. It's still a "good" score, but I don't want it to keep falling. On the website beneath my score it's suggested that the key factor affecting my score is "proportion of loan balances to loan amounts is too high." I won't be able to make a significant dent until I graduate next year. Is my score going to continue to plummet? Do all students just watch their score drop as their loan balances rise until they graduate? If I make occasional payments toward the accrued interest, will this help to maintain my score? [link] [comments]  |
| Upcoming College Student Seeking Advice Posted: 17 Apr 2019 04:06 PM PDT Hi! I'm kinda new on this subreddit, but I've been doing some research on student loans for the past few months (I don't know why I didn't turn to reddit sooner). I am a high school senior now and I am looking to attend RIT next year (I just committed). They gave me a 17k scholarship per year and I later appealed for some additional aid - they gave me an additional 3k. On top of that, I was able to find campus work for 3k per year and received an unsubsidized federal loan for 5.5k. The total expenses that I calculated on my chart would be around 62k per year (with variability). I subtracted my grants and given loans from the total expense to see that I would need to take out an additional 34k per year for four years (with variability) to make it work. One additional thing: RIT has co-ops that would give me some additional job experience and a full-time pay (three times over the course of my 5 years (I only pay for four years though)). I estimated the total amount earned from the co-ops to be 30k, and 15k of that to be for immediate expenses. So, that's an additional 15k in the bank to help pay for the loans. One thing that I didn't account for are the 4 summers that I will have to work - which I will use to work (obviously). It's hard to estimate exactly how much I will make during the four summers, but it could range between 5-10k per summer. And all that would go towards paying for the loans. I forgot to mention: I am majoring in computer science. The average computer scientist makes about 60k per year, and I should still alright (in terms of paying back the loans even if I make that much (I'm hoping for a higher salary though). I know that the first 2-7 years of my life after graduation are going to be modest at best - it's going to be hard in the beginning, but I think it's worth it. I know I am pretty inexperienced in these topics, but I hope there is someone on here that can comment on my position and outlook. Is there something I'm not accounting for? Are my estimations realistic? Any advice would help. Thank you, guys :) [link] [comments]  |
| Posted: 17 Apr 2019 06:29 PM PDT Has anyone used SoFi to refinance and consolidate their Sallie Mae loans? [link] [comments]  |
| Posted: 17 Apr 2019 04:18 PM PDT 350k plus in public loans. 100k+ in private. Not a doctor. Sallie Mae rep started asking about life insurance policies on a recent collection call. Told me that the 500k policy I have out through work would cover everything if I shot myself. Is that true? There's no other way out. [link] [comments]  |
| What You Can Do For Your Country Act Posted: 17 Apr 2019 02:08 PM PDT Is anyone tracking this new proposed legislation? Looks to expand eligibility of some loan types and payment plans. It also adds a 5-year 50% forgiveness. Anyhow, thought you all might be interested! [link] [comments]  |
| I posted to finance they sent me here. Any advice? Posted: 17 Apr 2019 06:32 AM PDT I attended a college in 2008 and did not complete my degree. The school has since closed. Is there any way I can apply for a discharge? If so, where would I begin? [link] [comments]  |
| What was your plan to repay student loans? Need help figuring it out Posted: 17 Apr 2019 01:10 PM PDT I graduated from college with about $27,000 in student loan debt. I owe ~ $200 on my credit card and have a monthly car payment of $360. With my current job I expect to make around 2,200 a month (I live with my parents so my only payments are my car, credit card, and student loans) I was wondering how you guys budgeted for paying off student loans while trying to build up your savings. Did any of you save a certain percentage of each check or go another route? Any help is much appreciated! EDIT: I should mention that I live in a town in the middle of nowhere and need a car to get to work and bigger cities (there's legit no other way to get around). The car has really good mileage, which is exactly what I need. [link] [comments]  |
| Posted: 17 Apr 2019 06:44 AM PDT Let me just start with saying that I'm in a weird position with Sallie Mae to begin with. I had about $85k in private loans after I didn't graduate (long story). I only had a part time job and had to use my forbearance up immediately because i didn't have enough money per month to pay anything (my total balance then ballooned to close to 120k). Two years ago at the end of my forbearance, i called them and told them that while I was recently moved to full time, but my $25k a year salary is still not enough to pay the $1400 a month they wanted for my loans. They put me on some kind of a payment plan where my interest rate was moved to 2% on all of my loans, the terms were maxed out to 300 months, and my payment moved down to $500.37 a month, under conditions that it is auto withdrawn from my bank account each month (which isn't a problem). They told me when they did this, my loans would be re-evaluated in two years to see if I'm in a better financial situation than previously. Beyond this, i don't know what kind of repayment plan this is because nothing much was explained to me and they don't send you any disclosures anymore. So fast forward to now. I've got these past two years never missing a payment and my financial situation is slightly better. Once I finish paying off the one federal loan i have in the next few months, i want to start doing a little better with my Sallie Mae ones. The only problem is I don't trust that manually paying more to one or more of my loans will not screw up this comfortable repayment plan that I'm in. I also don't want them to think that because I can pay more in one month, that i can pay that amount every month. I know this was lengthy, but does anyone have any experience with this? Or has anyone experienced a similar situation? [link] [comments]  |
| Can Discover take from my savings account automatically? Posted: 17 Apr 2019 10:20 AM PDT Years ago I set up a checking/savings with my girlfriend. Over our many years together she is fabulous but a flaw is her financial issues. Her grandparents were nice enough to pay for many of her student loans but one with discover may be in arrears 5000. She is worried that discover can automatically take from my savings that has both our names on it I am working on removing her from my savings because as much as I love her, I can't be responsible for her poor financial choices. So I just need to know if my savings is safe or if I need to quickly open a new account and transfer $. [link] [comments]  |
| Posted: 17 Apr 2019 09:59 AM PDT I have no excuse - I had graduated and had no money, but didn't set up a proper deferment. Now I have made every payment on time since April 2014 but my credit report/rating is still being affected. Is there any chance Navient will "goodwill" remove the nonpayment reports? [link] [comments]  |
| Posted: 17 Apr 2019 08:32 AM PDT About three months ago, I received a notice from Nelnet stating that my subsidized loans had been approved for deferment. Now, I never asked for deferment status and have no idea why I was granted it. However, Nelnet explained in the document regarding my deferment status that the federal government will pay any interest that accumulate on my subsidized loans and that I wouldn't have to worry about any interest accumulating as long as I did not have unsubsidized loans. I did not have any unsubsidized loans. All of my loans were subsidized. Furthermore, when I checked my Nelnet account online, it showed no interest being accumulated. Now, I paid my monthly payment just like I always did each month. The only thing the deferment status did for me is that I didn't have to pay by the beginning deadline of each month. Therefore, i decided that I don't need the deferment anymore and I am planning to call Nelnet to cancel it. Therefore these were some of my questions to ask of you guys who have spoken with Nelnet: when speaking with a Nelnet person, do I have to provide them with my social security number or some kind of personal identification? When you call Nelnet, what do they specifically ask you in order to identify who you are? I just want to be sure that I have everything I need before I call them. [link] [comments]  |
| Most Effective Way to Pay Extra With Navient Posted: 17 Apr 2019 08:12 AM PDT Happy to say I've paid in full my highest interest rate loans thru Great Lakes last month. My remaining loans are serviced through Navient, and it's been on auto-pay for the minimum amount. I've learned that you can not auto-pay more than your minimum amount with Navient. So my question is, to most effectively pay extra with Navient, should I:
Do these manually scheduled payments affect auto-pay? I've read a lot of people's experiences dealing with Navient and I want to be done with them ASAP! [link] [comments]  |
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