Great Lakes is not honoring my custom allocation overpayment Student Loans |
- Great Lakes is not honoring my custom allocation overpayment
- Debt Collector contacted my employer
- What do I do if I get rejected for private student loans?
- Should I apply for a student loan or join the military?
- Loan for international students
- Well Darn - Final PSLF Count is Still Off
- Another Parent Plus Loan Advise post
- How does teacher loan forgiveness work?
- Tax refund being garnished
- Private loans for Medical School
- Should I use career starter loan to pay down parent plus loan
- Advice Requested: I have the money to pay off my student loans - how should I?
- How do I find who has my loan?
- Private student loans question
- Chances of Getting a Private Loan With Adverse Credit History?
- What do I need to know about refinancing student loans?
- Advice
- Help with income based repayment
- PSLF For Employees In Religious Work?
- 30k owed to NY Higher Educ. in default. I want to buy a 20k van. Risk?
| Great Lakes is not honoring my custom allocation overpayment Posted: 09 Apr 2019 08:13 PM PDT As the title says, Great Lakes is not honoring my custom allocation overpayment. I've been making my required minimum payments of about $200 and then also overpaying $200 every month. (I have 9 loans through them). I have been allocating 50% of my overpayment to my lowest loan and the other 50% to my second lowest loan. It has come to my attention that they are dispersing it however they well please. I called Great Lakes last month and they made up some now seemingly BS logic that my minimum payment must go through first before I can choose custom allocation. Well, I tried that this month and low and behold, still no custom allocation. Are there any laws that they are breaking by doing this? I'm trying to put together a case to have them go back and disperse my loans how I asked. It's extremely frustrating and I feel like I'm being scammed. I even went back and confirmed that both of my two lowest loans have 50% next to them in my payment history. [link] [comments]  |
| Debt Collector contacted my employer Posted: 09 Apr 2019 08:46 AM PDT A debt collector (school loans - Trellis) contacted my employer (letter in the mail) telling them about the debt that I owed, the value, and that if I don't pay it they will pursue my employer to pay it. My employer has nothing to do with the debt. While it is in default...I have not been sued yet. This seems highly illegal. My employer is now trying to strongarm me into finding the money to pay it so they don't get sued. [link] [comments]  |
| What do I do if I get rejected for private student loans? Posted: 09 Apr 2019 07:07 PM PDT Hello, This is a repost from r/financialaid. I am in dire need of advice . Some background: I am an extremely low-income, independent undergrad student. I am independent by dependency override due to abuse & abandonment. This means I get 0 help financially from my parents--I support myself in all facets. I spent my first 2 years of college at a community college & transferred this year, as a junior, to an ivy league institution across the coast. I technically get a full-ride, but this doesn't include any living expenses outside of dorm housing. So, I don't actually see any of the money I'm getting. I am currently working as many hours as possible. My predicament: because of moving expenses and living expenses (I live in a VERY expensive city), I have maxed out my credit card at this point. Secondly, some of my financial aid is reported as income on my taxes, so now I owe about $800 in taxes. I tried taking out a student loan to help with this for the Spring semester, but found that I was ineligible because my "budget" for the academic year was maxed out, meaning no more aid. I was told that I could get aid if I go on a summer program, as my school doesn't provide grants for summer, but they do provide loans. So, I signed up for a summer program that was very expensive, but I was able to get the entirety of the program costs covered by scholarships. My plan was to take out a loan to cover the expenses previously mentioned, as well as pay for my plane ticket back to school after summer. I also have to pay for storage of my dorm stuff over summer. Also medical expenses from a recent hospitalization. I felt secure in my plan until today. When I went to the financial aid office to confirm my loans, they told me that they won't disburse any summer student loans until July. That's far too late: I won't be able to get by the summer with the costs previously mentioned. I would cancel my summer program, but it wouldn't even help me as I have no way to pay for the things previously mentioned and will likely be unemployed over the summer as I doubt I will be able to find short term employment where I live. Staying in the city where my school is is not an option as I will be homeless. I applied for a private student loan and was approved, but when looking more into the "certification" process by my school I'm fairly certain it won't get certified because my cost of attendance is already maxed out by the aid they give me. Or, they won't disburse it until July. I don't know what to do and my financial aid office was incredibly unhelpful. I'm so scared, I really don't want to be homeless again, and I don't know how I'm going to get through the summer and get back to school for the Fall. I'm sorry if this is super confusing (this entire situation/process is for me) and frantic. This has completely sent me into crisis mode and I don't know what to do. Do I have any options? The only thing I can think of doing if my student loan gets denied is taking out another credit card and accruing more debt that way, but I'm honestly not sure that I'll be approved...I've been applying for scholarships but that's not reliable enough funding (as I do not know that I'll get them). Should I take out a private non-student loan? Can I even do that? I really don't have anyone/anything to fall back on and transferring to this school has left me destitute. Any help would be so appreciated. TL;DR: I'm afraid my private student loan will be denied because my COA is maxed out. What funding options, if any, do I have? [link] [comments]  |
| Should I apply for a student loan or join the military? Posted: 09 Apr 2019 01:37 PM PDT My mother can no longer pay for my school. I have the hope scholarship which pays for about 80% of tuition, but that doesn't include my room and board. My room and board is approximately around 8-9K and FAFSA has awarded me $6500 for the 2019-2020 school year. My mother's cousin, who was previously in the military, is really urging me to join the Reserves/National Guard to pay for school but I really don't want to join the Army for X amount of years doing a job that doesn't relate to my major(Nursing). Are there any loans that I can take, hopefully Federal, and if so do you have any links? [link] [comments]  |
| Loan for international students Posted: 10 Apr 2019 12:15 AM PDT I am an international student in the USA.I am in need of loan and I don't have a cosigner. Can you suggest me any companies that can help me? [link] [comments]  |
| Well Darn - Final PSLF Count is Still Off Posted: 09 Apr 2019 05:40 AM PDT I transferred to FedLoan in October 2018 with the filing of my first ECF, and they started the initial review of my qualifying PSLF payments. The numbers on the website were always way low but all the advice here was to wait until I got a letter stating that the review was complete, as the numbers could change as they are reviewed. Yesterday I logged in to see that my counts, while still low, had increased. Hooray! At least they're making progress. I just hope they don't send me a letter telling me they're finished.... Guess what was in my inbox this morning? I've been paying without any breaks for 9 years. I have a spreadsheet tracking all 110 payments so far. FedLoan is now "officially" off by about 35 payments. I guess my next step is to call and request a manual recount? Unfortunately, I don't have bank records, only the fact that my loans have been federal direct and under IBR since early 2010 when I consolidated them, and my employment has been constant the whole time. So my best argument is "I must have been paying since I have no late or missed payments and no forbearances on my record." Just sharing my progress so people can be encouraged / wary / entertained. [link] [comments]  |
| Another Parent Plus Loan Advise post Posted: 09 Apr 2019 06:34 PM PDT So I've been working on paying off my loans for about 1.5 years now and it's going well. My payments are manageable and I'm on track for PSLF. I am on track to have my sallie Mae Loan paid off in 2021. All that is fine. I am concerned about the parent plus loan that my dad took out when I was 18. I don't think he fully understands how it works. Sometimes he says stuff to me casually like, "I need to see if I can get that parent plus loan transferred over to you." Or "I'm still making payments of that parent plus loan for you" I never asked him to take out that loan in the first place! I made the same mistake as a lot of people my age and let my dad take care of financial aid stuff my first couple of years of school because I didn't know what the heck I was doing. But I don't think my dad knew as much as he thought he knew. I just want to confirm that I am not responsible for his parent plus loan. There is no way he can make me make payments on it correct? Follow up to that, if my dad works for a non profit can he apply for PSLF for that parent plus loan? [link] [comments]  |
| How does teacher loan forgiveness work? Posted: 09 Apr 2019 11:02 AM PDT So, my application is for the teacher loan forgiveness is under review. What happens once it is approved? How is it applied to your loans? Do you get to choose which loans to use it for? I'm looking at the 5k for 5 years of service on a 20k debt. Any information on others experiences with this program will be much appreciated. [link] [comments]  |
| Posted: 09 Apr 2019 10:32 AM PDT Please bear with me. I haven't posted much on Reddit and I am unfamiliar with a lot of this student loan terminology. In 2008 I took out my first student loan at College A. I wasn't financially aware and don't exactly remember how much the loan(s) was for but I was thinking around $10k. My mom co-signed with me and over the next few years I sent her money on this loan sporadically when I could. In 2012 I took out more student loans at College B. After I graduated in 2014, I began making payments on my loans and my mom got the loans from College A put in my name and out of her name (or so we thought). Still, at this point in 2014 I'm not very financially aware. I have 5 loans taken out from College B and two loans are added to my account from College A. I don't really ever go in and look at the amounts on anything but just pay the amount that fedloan tells me to each month. Fast forward to today in 2019, I go to my moms house and she says she got a letter in the mail saying her tax refund was going to garnished because of unpaid student loans. I'm the only person she has ever helped take out a loan. She called the department of education and they said it is from College A for $12k. At this point, I don't really know what to do. I thought the loans from College A were put in my name in 2014 and i thought I had been paying them since then. Is it possible it's a mistake? Who do I even call??! Please help! [link] [comments]  |
| Private loans for Medical School Posted: 09 Apr 2019 12:31 PM PDT Hey all, I would appreciate your input and advice for my current situation. I'm about to start medical school in the fall. I currently have no debt and about 60k saved up. Tuition at my school is 35k per year. My wife will be working while I'm in school as a teacher. Her net income is about 32k per year. We can save roughly 18k per year off her salary and plan on putting it all towards tuition. As such, we should only have to take out between 10 and 20k in loans if everything goes according to plan. I am leaning towards private loans because I think we could qualify for a lower interest rate (both have credit scores of 770+), but I guess that's not a guarantee. Would this be a good idea? Or should I just stick with federal loans? [link] [comments]  |
| Should I use career starter loan to pay down parent plus loan Posted: 09 Apr 2019 03:20 PM PDT I have 2 outstanding loans. 1 is a $13,000 loan at 4.29% and a parent plus loan that is at $37,000 with a rate of 6.84%. I am an ROTC cadet set to graduate this May. Do you advise taking the $25,000 career starter loan at 2.99% to take a big chunk from the parent plus loan? Regular Military Compensation Calculator estimates I will be making around 58,000 as an O-1. I am estimating my rent will be no more than $500 a month with no car payment living in Georgia. (I have already posted this in r/MiltaryFinance I just wanted your guys opinion and advice as well. [link] [comments]  |
| Advice Requested: I have the money to pay off my student loans - how should I? Posted: 09 Apr 2019 11:00 AM PDT Hello Friends I have two student loans and I have the money to pay them completely in cash. I have a couple questions as to how I should proceed. A. Should I repay it completely one lump sum B. Double or triple payments per month and deduct interest off of 2019 Tax filing. C. Do something else Ideally I'd like to maximize the use of this debt for my Credit score and avoid paying as much interest as possible. Loan info: Group A: Principal : $2,285.43 Capitalized interest: $35.43 Interest Rate: 3.760% Group B: Principal: $2,444.73 Capitalized Interest: $44.73 Interest rate: 4.450% Looking forward to hearing the advice n.n Thanks in advance!! [link] [comments]  |
| How do I find who has my loan? Posted: 09 Apr 2019 10:26 AM PDT I'm am trying to get into contact with whoever company has my loan so I can make a payment plan with them so they do not take my tax refund this year like they did last year. Any help? Thank you [link] [comments]  |
| Private student loans question Posted: 09 Apr 2019 01:49 PM PDT So I am getting a private student loan but it won't come in before my registration for the fall semester. My parents are willing to lend me that money now so that I can get into the classes I need for the fall. But that is on the basis of once I get the loan if I can give it to them. Is it possible to get the loan money and give it to them? or will I have to wait to register until my loan comes through? tl;dr will the private loan go into my bank account or will it go directly to the school? [link] [comments]  |
| Chances of Getting a Private Loan With Adverse Credit History? Posted: 09 Apr 2019 12:49 PM PDT *only actual replies please - I'm going to school regardless* Hey guys so I'm going to be going in to my second year of medical school in the fall and I had some credit card debt that I built up while I was working, that I could no longer afford to pay off. I have missed about 4-5 payments and my credit score is sitting at a 470 right now. My school is newer and only accepts private loans at the moment so I was wondering what my chances are of getting approved for a private loan (Sallie Mae) for the cost of attendance plus rent (about $70k). My parents are willing to cosign my loan and their credit score is around a 760-770. Would I be approved? I can try and pay some of my credit card debt to increase my score slightly but probably not by much. [link] [comments]  |
| What do I need to know about refinancing student loans? Posted: 09 Apr 2019 06:06 AM PDT I've got three private student loans, two from a local bank and one from Discover. I've only recently become more financially aware and started paying attention to how I should be paying my loans (I was just mindlessly paying them before) The interest rates on these loans are absurdly high: the local bank has an interest rate of 13.5% and Discover is at 11.15%. Needless to say, someone recently suggested I look into refinancing them, which I'd love to do, but don't know much about Basically, where do I start with this? What is refinancing, exactly? And how does it help me? Any advice is greatly appreciated [link] [comments]  |
| Posted: 09 Apr 2019 11:17 AM PDT Hey, I'm an international freshman for the class of 2023 at UCSC, with hopes to transfer into UCLA, SD or Berkeley At the moment, I'm planning to go to UCSC this summer, with an expected tuition of around 160k a year, and 20k total aid. [link] [comments]  |
| Help with income based repayment Posted: 09 Apr 2019 09:31 AM PDT I pay off my loans through myfedloan and am ~6 years through the standard 10 year repayment plan. The problem is that my monthly payment is becoming a burden, so I clicked on the website about how to lower the amount of my monthly payment, and apparently I qualify for REPAYE, PAYE, and ICR. REPAYE was far and away the least expensive monthly payment, but I can't find any info about someone in my position more than halfway through paying the loan amount and starting on an income based repayment plan. All info I find is for those that haven't started paying. I've reached the point where I've almost completely paid off the interest on my loans and am now paying strictly principal. Have I come too far, or should I keep looking into it? [link] [comments]  |
| PSLF For Employees In Religious Work? Posted: 09 Apr 2019 09:12 AM PDT Hello! I am a 25 year old graduating Master of Divinity student, looking into my options for PSLF. I have ~60k in federal student loans, split pretty evenly between my undergraduate degree (Philosophy/Spanish Minor) and MDiv program. I have about 8k in savings, pretty minimal expenses (gifted [but aging] car, parents cover insurance/most other major expenses.) However, I am doing an unpaid hospital internship this summer that is required for ordination, and will have to pay for housing/food of about 2- 2.5k. In August, I will be moving back in with my parents rent-free. With this background in mind, should I hedge my bets on PSLF or should I try to aggressively pay down my loans? I am considering a career in either parish/congregational ministry or chaplaincy, and my employers would be 501 (c)3 organizations. I have read many places online, however, that in order to qualify, you must do 30 hours of work that is not directly involved in religious teaching/proselytizing. When I have spoken with my seminary's financial aid advisor about this, however, she said that she has never heard of this requirement, has been in the field for several years/attended numerous conferences, etc. I also contacted Nelnet, my loan servicer, who said that they were not aware of this qualification and that forgiveness is based on your employer, not the kind of work that you do. Given all of this, who is right? Should I try to speak to someone else at Nelnet to see if I get a different answer? Should I give up on PSLF altogether and just dedicate myself to paying the loans off quickly? It will be about another year or so before I am ordained, as I still have a few denominational requirements to meet. I will have to work whatever full time job I can find during this time to get health insurance, as I will have to come off my parent's plan in November. I apologize for this novel of a post, but it was therapeutic to get this all out there. I think about this debt every day, and wonder if I have made good decisions. Once I get a stable job as a staff chaplain or parish minister, I can reasonably expect to make about 50k to start. How dire is my situation, and what would you do if you were me? [link] [comments]  |
| 30k owed to NY Higher Educ. in default. I want to buy a 20k van. Risk? Posted: 09 Apr 2019 07:31 AM PDT I owe 30k since 1995. Can I safely buy a 20k van w/o it being confiscated? Thanks! [link] [comments]  |
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