How to ensure I've paid off all of my loans Student Loans |
- How to ensure I've paid off all of my loans
- Is this real?
- Credit score dropped 200 points from delinquent payments
- I don’t understand the interest on my loans??? Paid $100 and $98 went to interest, and same last month!
- Paying me to keep my loans...$$$
- Some of my thoughts on the PSLF bill released yesterday
- Paying loan in small chunks or saving to pay in full?
- BEWARE FedLoan Servicing IDR's
- Can you retroactively apply for pslf?
- Confused about Loans
- Allocating overpayments with FedLoan
- Multiple federal loans at different interest rates. Is refinancing a good option?
- I need big time help friends. How to sort my business out when studentloans.gov points to dead ends?
| How to ensure I've paid off all of my loans Posted: 12 Apr 2019 05:40 PM PDT Hey! I'm graduating in May and I'd like to make sure I've paid of all of my student loans. I've only ever done the FAFSA so no private loans. I've checked nslds.ed.gov with my account along with my parents (parent plus loan), and there is 0 outstanding principal/interest for both of them. I can't see any loan information through GSM&R, my main loan provider, but their website is trash anyway. I'm almost positive I've paid everything off but is there anyway to specifically confirm this other than NSLDS, or is that pretty much the gold standard? [link] [comments]  |
| Posted: 12 Apr 2019 07:23 PM PDT So this evening I was scrolling through my emails and noticed I had a payment reminder from Navient. I thought it was weird because I already got one. I clicked it and it read very oddly. It listed out the withdrawal amount ($200 MORE then what I typically pay) but didn't mention my loans or any other information. It also doesn't look like the same type of email that I normally get. After I finished panicking and frantically flew through the house looking for my damn confirmation number, I logged in to my account and it doesn't reflect that amount due. Do you guys think it's fake? P.S. I know this is a little rant-y and a little dramatic but it's been a stressful few months financially and I really thought I was starting to figure stuff out. [link] [comments]  |
| Credit score dropped 200 points from delinquent payments Posted: 12 Apr 2019 09:53 PM PDT I graduated in May 2017 and have probably 15 different student loans totalling around $60,000 total. I was fortunate enough to have parents that split college 50/50. Spent about 5 months after graduating learning before getting a descent job October 2017 in a different state. Parents had been paying many different loans and thought they were covering them all. I saved up assuming we would settle up next time I was in town. Well we both pushed it off and they weren't struggling with payments so we enjoyed the holidays together and assumed we'd figure it out later. Turns out, they were paying the private loans and the government loans through Nelnet were unaccounted for. The address Nelnet had was my parent's address and email my parent's email. The phone # was correct but I had been getting lots of telemarketers and stopped answering unknown callers. Finally I pick up and realize there were 2 months of payments way past due (credit reporting required). I immediately paid off the balance and set up auto payment for greater than was required. I haven't missed a payment since but my credit score is low 600's now because Nelnet had 5 different loans, each late for two months totalling 10 delinquencies! I'm not blaming anyone but my young idiot self for not understanding and tracking each loan in my name but for the next 7 years, my credit score is screwed. I definitely would like to get a mortgage and buy a house in that time, but the score is the only thing holding me back. Is there anything I can do to fix these delinquencies? Nelnet said they couldn't do "Good faith adjustments" becuase they were federal student loans. I missed payments out of ignorance of the loan. I feel helpless that even though I can start to pay huge chunks of my loan principal from bonuses and pay off 5 years before planned, my credit sucks. Edit: I didn't even know I had loans through Nelnet until delinquency. Didn't even have an account. Did the FSA account but didn't know the loan servicer was separate and had assumed Nelnet was a scam or telemarketer or something from phone calls. [link] [comments]  |
| Posted: 12 Apr 2019 04:35 AM PDT The loans in my name are at just below $28k. I recently started paying them again this year with $120/month. I just made an extra payment and basically all of it went to interest. I had allocated all my payments to the lowest with the highest interest but it made no difference because of the interest. But he thing is that this happened last month too? Payment of $88 and $84 went to interest. And before that an extra payment of $195 interest was $112? How can the interest be like $100/month? That would make my loan grow by more than $1000 a year?? Also there are a couple of interest subsidy's that show up, recently at $7.65, $4.28, $48.42? [link] [comments]  |
| Paying me to keep my loans...$$$ Posted: 13 Apr 2019 01:28 AM PDT I am finally to a positive networth, and I was considering paying back my loans. But I came to find out after I reconsolidated in 2018 and switched payment plan to REPAYE. I am only paying an effective interest rate of 1.92 % apy for the next 3 years. Since Uncle Sam is picking up the subsidized and unsubsidized interest. so effectively it would cost me money to pay it back sooner since inflation is 2.1 % so they are paying me ~ .3% on my loan balance to keep it, on top of any interest I make by investing it in the mean time. (Maybe this is also because they reduced my interest rate since I'm active duty, and another reduction because I'm on autopay, even though my current payment is $0) lesson here is sometimes it makes more sense to keep your loans if your situation merits it. [link] [comments]  |
| Some of my thoughts on the PSLF bill released yesterday Posted: 12 Apr 2019 06:54 AM PDT This article did a good job describing the bill, the political landscape on the issue and includes some of my personal thoughts on the proposal https://www.marketwatch.com/story/2020-democrats-want-to-overhaul-a-student-loan-forgiveness-program-for-public-servants-2019-04-11 [link] [comments]  |
| Paying loan in small chunks or saving to pay in full? Posted: 12 Apr 2019 08:10 PM PDT My husband and I are both paying our student loans through PAYE. When we have extra money each month we'd like to put it down immediately on our highest interest loan. If we call the loan servicer, I believe we are able to put that extra money down on the principle. We got advice to instead: wait, save up the money and pay the highest interest loan all at once in full. Is there any reason why that would make more sense? [link] [comments]  |
| BEWARE FedLoan Servicing IDR's Posted: 12 Apr 2019 08:21 AM PDT Working in education my salary has not changed much in 10+ years and my IDR seems to get screwed up EVERY year I have to re-certify. They always want to TRIPLE my monthly payment and my income hasn't increased. After calling several times and finally getting a very nice lady she told me that the IDR's are done my people using math equations and NOT by some algorithm or computer system, thus making human error VERY common. Are you kidding me?!?!? No wonder there's so many screw ups at this place! BEWARE! [link] [comments]  |
| Can you retroactively apply for pslf? Posted: 12 Apr 2019 03:33 PM PDT I'm in residency, is it possible to apply for PSLF for last year and get credit? [link] [comments]  |
| Posted: 12 Apr 2019 04:12 PM PDT So let's say I am in 60k worth of debt as an incoming college student. Now, I looked at direct subsidized and unsubsidized, and there is a borrowing limit of like 5-6k. Now, does this mean I have to go into a private loan to borrow another 55k? Further, how do you even take out a loan in general? Like call the school financial aid office and have a contract with the bank or something? another note:they should really be teaching civics in high school [link] [comments]  |
| Allocating overpayments with FedLoan Posted: 12 Apr 2019 10:51 AM PDT Hello all, I am in the process of selling my home and want to use a chunk of those proceeds to put a dent in my loans, currently serviced by FedLoan. I have 10 loans total, and won't have enough to pay them all off so I want to target the highest interest (incidentally also the highest balance) loans. My experience with FedLoan over the last few years is they are astoundingly incompetent and I'm fearful they will just apply the money evenly across the loans as they do with my monthly payment. Has anyone had luck doing what I'm trying to do, and if so how did you ensure the overpayment got allocated correctly? [link] [comments]  |
| Multiple federal loans at different interest rates. Is refinancing a good option? Posted: 12 Apr 2019 04:33 AM PDT I've been looking into refinancing my federal student loans that I'm paying through Navient. I have 4 total loans for a total of just under $19k with interest rates ranging from 6.55% to 3.61%. The average weighted interest rate on them I calculated to be 5.35% and the lowest interest rate I can find on a fixed loan for refinancing is 5.124% on a 5 year loan. That small decrease in interest rate really doesn't seem worth it for the loss of protections I have being they're all federal loans. Also the increase in monthly payments going from a 10 year to a 5 year doesn't help convince me it's a good idea either. But if I could use it for just 2 of the loans with the highest interest rate (6.55%) it would definitely save me some money. Is it possible to only refinance some of my student loans while leaving the other two loans with a lower interest rate alone? Or would the new refinanced loan just knock out a chunk of all 4 loans I have at an equal rate per loan, similar to how my monthly payment is set up now? [link] [comments]  |
| I need big time help friends. How to sort my business out when studentloans.gov points to dead ends? Posted: 12 Apr 2019 05:51 AM PDT So, I know this is pathetic, but I was helicopter parent'd well into my 20s, and practiced willful ignorance for a few years... I want to finally get my head out of the sand and try to repair my credit and improve my financial situation. Currently I work fulltime as a pharmacy technician, making under $20/hour. I went to school for like 3 years about a decade ago (18-22 or so) for really difficult STEM degree I had no business being in in spite of my high school performance... I had no social skills and ended up hating my major and dropping out. In hind sight it was a huge mistake, but I was an stay at home honors student with no friends or connections and just kinda fell through the cracks. I accrued a massive 50k student debt that I never payed anything on, and it's haunted me and my poor parents for years. They are now threatening to garnish my wages, which would completely cripple my ability to live outside my parent's house or do anything meaningful at all. I'm not sure how much they can take per paycheck but it's terrifying... They already sent my parents (who co-signed on my loan) a letter saying my entire $800 tax return was being confiscated. This "payment" is now reflected on the myeddebt.ed.gov website which is what the studentloans.gov site says is my loan service. I want only to start making monthly income based payments, but I have no idea how to set them up. I wish I could speak to someone on the phone or through email, but the number the aforementioned website (myeddebt.ed.gov) gives me is for something called "Bass and Associates", which is some kind of collections agency in Arizona?? They don't even pick up the phone at any time of day, and say "we are experiencing high call volume"... Please, any advice or words or wisdom would be much appreciated. [link] [comments]  |
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