My parents won't cosign for a private student loan (understandably). How can I pay for college? Help! Student Loans |
- My parents won't cosign for a private student loan (understandably). How can I pay for college? Help!
- Extreme anxiety
- I am lost and confused as to what to do. I have made 5+ years of payments and most of my balances are still higher than what they were when I first received them. Can you take a look at my situation and tell me if this is normal?
- I have student loans with Nelnet and Navient (federal loans) and Nelnet seems better. Is it possible to switch all the loans over to Nelnet?
- $100,000+ in loans, bf's mom is a pain In the ass! -- Is there a subreddit for Student Loans related to relationships?
- Grace Period ending soon, sos?
- 40k in loans vs almost a full ride
- Pay off Loans or Increase Retirement or both?
- Question about subsidized loans
- Where do I start?
- Hello eveyone, what would be the best course of action on Paying off my student loans?
- Where's a good place to get a private loan without a co-signer?
- Question about Student loan refinancing (with potential rates)
- Seeking advice
- Can I take out student loans during a gap semester?
- Can I take out private student loans during a gap semester?
| Posted: 26 Apr 2019 08:56 PM PDT I am currently a high school senior and I'm ready to commit to a certain college, but I need a plan to pay for school. I've already started applying for scholarships, but I need a way to pay in case I have no luck with them. My parents won't cosign for a private student loan (understandably). I've decided that, despite the cost, I definitely want to go to this school. I had a job last summer, but I have no credit. What are my options for paying for school if a part-time job wouldn't cover the cost? Am I still able to take out loans somehow? Any help would be greatly appreciated. EDIT: I've already applied for federal loans, and even with them I'd still have to take out quite a few thousand in private loans. [link] [comments]  |
| Posted: 26 Apr 2019 11:36 AM PDT So I'm about halfway done with my degree, and when I finish I'll be about 60k in debt. I looked up the average monthly payments for this amount and it told me $660/month. I don't know if this just makes me super anxious because I'm used to making absolute shit money, but just thinking about having this weight on my shoulders makes me feel like I'm going to puke. It was suggested by a friend to drop out, but I'm already half way done and I don't want to be 30 k under if I'm not even going to have a degree. (I'm not dropping out) Is the repayment not as bad as I'm thinking it'll be? Am I just being stupid? I just really want to talk about this with people who get it because everyone around me makes me feel like I'm an idiot for getting myself into debt. [link] [comments]  |
| Posted: 26 Apr 2019 02:12 PM PDT in 2008-2010 I took out about 60K in federal student loans to help pay for my (public) state school tuition. I just checked my credit karma to see where I am at after about 5 straight years of making payments of about $400+ a month. Full disclosure - I did differ payment as long as I could post college (3 years), as I did not have the income to pay the monthly payments (35K salary and they wanted way more then I could afford monthly - even in my moms basement). Once my forbearance/differed payment options ended I had to bite the bullet and start a payment plan (10 year plan). I paid that on-time for about 2-3 years then switched a 25 year plan as I could not sustain it anymore. Balances: (All loans are now on a 25 year payment plan)
edit: I know these loan processors and the government have to make their money, but I just can't help but feel this is highway robbery and i'm not an "unusual case" by any means. Principal Paid: $5,318.59 Interest Paid: $9,952.92 Amount Paid: $15,271.51 I've paid over 15 grand and I have (1) loan that has a current balance that is lower than beginning balance. Any thoughts/advice? [link] [comments]  |
| Posted: 26 Apr 2019 09:29 PM PDT |
| Posted: 26 Apr 2019 03:26 PM PDT New to reddit. I just feel like ranting a bit. While my boyfriend and I were still early in our relationship during college, he offered to ask his family for any advice on paying off a large student loan after college. (Yes, I am one of the typical naive 17 year olds to take a massive loan for college. I come from a very poor family and my parents don't know shit about finances either- I'm not blaming them, just giving background as to why I let my bf tell his family about my loans. His family's really well-off). Rant about bf's mom While the rest of his family were non-judgemental/don't care about my circumstances, his mom holds it over my head. As if I don't already feel the burden on my own. I already have a budget plan for repayment, I read and listen to Dave Ramsey (which I wish I would have found before resorting to my bf's family's advice), and I hate HATE asking for money help so I can assure you I don't mooch off her son. So I feel like she has absolutely no business keeping up with my finances, unless she's going to offer me objective advice and not just judgement and a guilt-trip. After I graduated college in December, she was on my ass calling daily about whether or not I have a job yet. It was annoying, as I was already treating my job search like a full-time job, feeling the pressure of getting a job (not even pressure about the debt, just a job), while simultaneously overcoming extreme anxiety over interviewing. I also just felt insulted, like she was doing this in a way to assert power over me or something. Plus, I am confused about why I'm being micromanaged by someone who's not a close friend, not a family member, not a professional. Again, me and my bf aren't married, so I feel like she's crossing boundaries. I think I have problems establishing boundaries with bf's mom
Rant about my bf: I cried uncontrollably after hanging up on the phone, after telling her how much I made. I just couldn't believe I let her know about yet another important piece of personal information again. My boyfriend got mad at me, saying that I shouldn't care what she thinks, and that I could just cut her off for good. And it's frustrating, because I don't want to cut her off and shouldn't have to. But I feel helpless that she knows about my debt and has power to hang it over my head for probably up to a decade. My bf pretty much questioned why I cared so much that she knew about them, while I don't care that banks know, or cosigners, or he knows. Like-- I honestly don't understand why he doesn't get it. He does have a point that I shouldn't let her hang it over my head, but cutting her off doesn't seem to be a good move. Debt and my relationship with BF
To anyone reading Sorry for the rant. I don't really have anything specific to ask, besides what your opinions are about this-- good, bad, judgemental, advice? Maybe some tips about establishing boundaries? And just for fun- to know who's side you're on: mine or bf's mom? lol. Similar stories anyone? Is there a subreddit for student loans and relationships? [link] [comments]  |
| Grace Period ending soon, sos? Posted: 26 Apr 2019 08:33 PM PDT Hello redditors, I am in a lot of debt and my grace period is ending soon and I've been having a lot of anxiety about it- to the point of multiple panic attacks the last few weeks. Background: I have 2 degrees from a private institution resulting in just over 200k in private loans from Sallie Mae. In addition, I have about 50k federal loans. Yes, I know I messed up going to such an expensive school, and it's something I'll probably always regret. Thank you. I am currently making around 3k/month, which isn't bad, except that my projected monthly payments are almost that total - my Sallie Mae loans alone are projected to be 2500/month, in conjunction with my federal loans, which vary between 138-300 depending on what plan I choose. So basically what I'm making in a month. Needless to say, I don't know how I'm going to afford to live. I have looked into refinancing companies for my private loans, and while it helps drastically, I would still be paying around 1300/month; leaving me with a projected 1500 for rent/other bills/expenses - still nerve-wracking. I'm not sure what to do at this point and I'm so stressed that it's affecting my health drastically. My federal loan repayment begins in June, and my sallie mae loan repayment begins in August. Any advice for how to go about this? I'm scared, honestly. TL;DR: Student loan payments almost bigger than income, what should I do? [link] [comments]  |
| 40k in loans vs almost a full ride Posted: 26 Apr 2019 05:40 PM PDT So I was admitted to University of Michigan for $5500 a year but if I take into account other things it's going to be about 40-45k after 4 years but tufts is pretty much free. I liked UMich more but compared to the vast amount of other people I feel like 40k isn't a lot. Does anyone have any opinions? I want to major in computer science and maybe be a software engineer. [link] [comments]  |
| Pay off Loans or Increase Retirement or both? Posted: 26 Apr 2019 11:41 PM PDT Hello studentloans! I'm not sure if my question is better suited for here or personal finance.. Background: Married, no children, $24000 student loan debt, 4% contribution to retirement I (25f) have about $24,500 left in federal student loans (Nelnet), and pay about $560 a month. Interest rates vary between 3%-6%. I am currently on track to finish paying off my loans in about 4 years. I recently applied for a higher paying job and while my official offer letter has not yet come, I have been told that it is coming. This will increase my annual income significantly. Obviously I will be increasing my monthly student loan payment, but I was wondering if it's better to full force pay down my student loans (like between 1-2 years rather than 4) and then max out retirement after, or raise my student loan payment to pay off in 3 years and increase my retirement contribution at the same time? My husband and I are also looking at buying a house together next year, which will take a lot of our current savings but our mortgage will potentially be less than current rent. Does anyone have any advice? [link] [comments]  |
| Question about subsidized loans Posted: 26 Apr 2019 04:00 PM PDT I am an incoming college freshman and was a little confused about how subsidized loans work over time. I qualified for the maximum loan of 3500 for the first year, but does that mean that amount is guaranteed to increase by 1000 every year until my 4th year at which point it will stay at 5500? And every year my unsubsidized loan will be 2000? Also if my math is correct that would mean 19000 subsidized over 4 years. Is there a way to get that extra 3000 that is the maximum or is that only if you do a 5 year program? Thanks [link] [comments]  |
| Posted: 26 Apr 2019 06:42 AM PDT So I went to a university for a semester and now a year later I am trying to transfer somewhere else. I owe $8,000 to the other university and they will not release my transcript until I have paid that off. Therefore, I can't go anywhere else until it's paid. My parents are about to move in the next 2-4 months and when they sell our house, they said they'll immediately pay off the 8k. For the time being, I need this 8k paid off ASAP! I am seeking advice on how to go about this and what to look out for. I have no clue what I am doing so any advice will be very helpful! [link] [comments]  |
| Hello eveyone, what would be the best course of action on Paying off my student loans? Posted: 26 Apr 2019 02:31 PM PDT I'm extremely lucky to have only taken out a small amount $5,500in student loans, I've paid back about 300 I have 5,200 left. I'm ahead for my payments by about 2 months, but I'd rather pay less intrest and pay it off faster, I make 39,000 a year, 577 weekly, my bills are about $300 dollars a month, (living with parents still) how much should I set aside monthly for the loan also have other debt CC debt $4,300 and my savings are 2100 right now. [link] [comments]  |
| Where's a good place to get a private loan without a co-signer? Posted: 26 Apr 2019 05:07 PM PDT Graduate student here. Just finished my first year. I want to take summer classes so I can graduate next winter, but I can't find a co-signer in the family. I also don't have a job at the moment because the program is so chaotic... I have fair credit. Around 660ish. I was wondering a good place to get a private loan? I tried citizen's bank, but the guy was younger than me and basically said he'll call me back next week.. [link] [comments]  |
| Question about Student loan refinancing (with potential rates) Posted: 26 Apr 2019 04:22 PM PDT Hi everyone, My mom is currently on the hook for a $21,000 Parent PLUS loan she took out for my education. Its through Great Lakes,and currently sits at a 6.96% interest rate. The repayment period is about 9 years. I have been trying to look into ways for her to save some money on this loan, and I recently learned about student loan debt refinancing. Since she has a really good credit score (around 800) and a nearly 6 figure income, I figured she might be able to use one of these refinancing companies to lower that interest rate with few, if any drawbacks (money saved with no risk). I went ahead and used earnest and it said it could give her the following offers- Fixed rate for 10 years at 5.22% Fixed rate for 7 years at 5.08% with higher fixed payments. Variable rate for 10 years at 5.13% APR Variable rate 7 years at 4.88% APR with higher fixed payments. I had a few questions about these options.
Thank you all for the advice and information. [link] [comments]  |
| Posted: 26 Apr 2019 09:25 AM PDT Long story short, wife has 4 federal student loans totally approximately $13,200 in default. She's had wage garnishment going for awhile but due to default status, it's making things difficult elsewhere. She looked into consolidation but apparently her servicer no longer has a contract with Dept of Education. It's Windham Professionals. They refer her to Dept of Ed and Dept of Ed refers her to Windham. Anyone else getting this run around??? We just want to get these loans into some sort of payment plan so she can show proof of payment and details. [link] [comments]  |
| Can I take out student loans during a gap semester? Posted: 26 Apr 2019 02:39 PM PDT Hi, everyone. So, I am slightly drowning in credit card interest. It's a long story, but pretty much all of my income is taken up by bills and other responsibilities, only leaving me enough to make the minimum payment on my credit card so I can't actively pay anything other than the interest, really. I need to get my life together, so here I am, asking this question. Someone in r/personalfinance suggested I take out a student loan (private?) to pay off my credit cards ($3000 total) since I can't get approved for a personal loan. The student loans will have a MUCH lower interest rate than what I'm paying now on my 5 separate cards. My problem is, I decided to skip spring 2019 semester, but I really need that extra money now so I can get my life back on track. I'm taking one online class this summer and going back to full time this fall. Can I take out a student loan during a gap semester? Thank you! [link] [comments]  |
| Can I take out private student loans during a gap semester? Posted: 26 Apr 2019 02:00 PM PDT Hi, everyone. I've come into a bit of a financial struggle recently. I decided to skip spring 2019 semester, but I really need some extra money and can't get approved for a personal loan. Can I take out a student loan during a gap semester? I'm taking one online class this summer and going back to full time this fall. Thanks! [link] [comments]  |
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