What to do after paying off one loan? Student Loans |
- What to do after paying off one loan?
- Financial Aid Package for lease?
- Refinancing advice
- Is applying for second private loan right after first normal or not uncommon?
- I will be forced to drop out of university if I don't figure this out. Please help, any advice, comments anything at all is appreciated
- Reside in UK - Cosigner wage garnishment in USA
- First Year Options and Concerns
- Graduate School Loans
- I thinking of taking a Private Student Loan to study abroad, but my school is not on the eligible lists?
- How will my debt effect my marriage?
- Principal on loan is not decreasing like it should
- Student Loan 61k, Total estimate 141k
- Teacher Loan Forgiveness: Nonconsecutive Years
- At what point did you decide/plan to pay the minimum payment on your federal loans? My current plan as a new grad
- Need advice/info about loan options
- Should I refi? Current loan total $37,572.70 with fixed 4.875%
- How can I obtain a loan as a visiting student?
| What to do after paying off one loan? Posted: 16 Apr 2019 07:08 AM PDT I may be posting to early but I'm excited. One of my 5 loans was down to $554 so when I received my commission check yesterday I used it all to pay off the final balance! Yay! I checked today and the loan says "No Due Date" and the balance is zero. It is with Navient and I still have 2 other loans left with them. Am I supposed to do anything now? Do I need a paper from them saying that loan is closed and paid? Will it automatically close and I receive something in the mail? Thanks for all the encouragement and advice on here! [link] [comments]  | |||||||||||||||||||||||||||
| Financial Aid Package for lease? Posted: 17 Apr 2019 12:58 AM PDT My roommates and I applied to an apartment, but I got a call that I need to send in a "financial aid package." The person said it was to approve of our aid and described it as being "around 30 pages also showing what you can spend your aid on." Has anyone seen this before? Or sent something similar as income proof? We sent something titled "financial aid package" for this and next year, but it was only a 1 page screenshot. Also we sent our FAFSA SAR (even thought it has nothing on there,) and a page that shows refund amounts for this semester. We even sent links to what our grants can be spent on from the grant websites. Honestly we tried looking online for hours and couldn't find anything close to what she was describing. Any advice is appreciated! Thanks! [link] [comments]  | |||||||||||||||||||||||||||
| Posted: 16 Apr 2019 11:19 PM PDT I was pretty set on refinancing most of my loans (private and federal) just to have set payments for a set amount of years but after browsing here I am leaning towards refinancing my private and putting my federal on IDR. I would like to get advice/opinion on my current situation. I work at a non-profit hospital so I think I am a candidate for loan forgiveness but I do not want to rely on that. I am 6 months working into my career job and will average $75/year at my current pay. My lowest lender rate is for $190k at 5.29% (not including the auto payment 0.25% off) for 15 years. The payments will be about $1,500/month. I am currently paying about that monthly ($500 to private [over-payment but feels like it's going no where] and $900 to federal [currently on the extended plan])
I didn't include federal loan 02-05 since it was under 5% (also $5k or less). Should I just refinance the private loan only or add some of the federal loan due to higher interest. Or the difference in interest isn't good enough to refinance. Thanks in advance [link] [comments]  | |||||||||||||||||||||||||||
| Is applying for second private loan right after first normal or not uncommon? Posted: 16 Apr 2019 06:42 PM PDT I took out a loan to pay for my last two quarters of senior year ( a quarter system is just 3 sessions instead of two semesters a year) and I still have a year of grad school after this that starts in July. Payment is due beginning of summer. [link] [comments]  | |||||||||||||||||||||||||||
| Posted: 16 Apr 2019 02:50 PM PDT Hi all, I'm 23 and currently enrolled in an accelerated nursing program/school in the United States. This program allows me to get my bachelors of science in nursing in 2.5 years. And i am on track to finish in December of 2020. After finishing (almost) the spring semester that I'm currently in, I applied for my loan for my summer semester which is required for my school. I applied through the same loan company (sallie Mae) that granted me my first loan. And got denied. They told me that I need a co-signer. The problem is, my parents are not willing to co-sign for me. They say they have bad credit as it is and that I should've saved up and paid for school myself while already working full time and going to school full time. I've checked my credit score and it is 578. I have a car loan that I am paying off and I am paying the interest on my first loan for school. Also because of being in school full time, I had to work less hours at work in order to have time for homework, projects, studying and clinicals. Which is why I believe sallie Mae denied me the second time around because I have less income now than I did before when I originally applied for my first loan. What other options do I have? I have to pay for this next semester in 3-4 weeks. I've gone to the financial aid office in my school and the only thing they told me to do was apply for fafsa. However when I recall applying before, I think I didn't get anything because my parents made too much money. I will be applying for FAFSA tonight as well. What can I do to be covered for this next semester? I am stressing out and I don't know what to do and I can't afford to drop out of school. [link] [comments]  | |||||||||||||||||||||||||||
| Reside in UK - Cosigner wage garnishment in USA Posted: 16 Apr 2019 01:21 PM PDT Hello - this is a tricky one. From what I have read on the board it is not necessary to go through the explanation of how it got to this but rather to take the step to ask for help. I am living in the UK and my mother (who cosigned my student loan) has just informed me that she got a letter for wage garnishment. She already has a lean on the house for this loan as well. The loan is from national collegiate student loan trust 2006-3. From what i have gathered on this and other subs this seems to be the only solution:
There is no way to transfer this debt back to me. I will need to pay money from the UK into a US account and deal with the transfer fees monthly until the debit is resolved. Thank you for reading this - if there is anything that I missed in reading the other posts please point me in the right direction. Any help at all is much appreciated. [link] [comments]  | |||||||||||||||||||||||||||
| First Year Options and Concerns Posted: 16 Apr 2019 05:05 PM PDT Hello everybody, I am currently a senior in high school and I have just received my financial aid package from my top university. Overall, the price of attendance (I am out of state) is around $49550. Including federal loans, they're offering me about $18950. Because this doesn't cover 100% of the cost, I have to come up with around $25000 a year to pay for college (parents are willing to help pay around $8000). I am pretty lost in this world of student loans and my only other option, if I can't figure this out, community college is my only option. Any advice on this would be appreciated and a good explanation of how student loans work and the best options for me. EDIT: I am planning on going into Aerospace Engineering and my school is Ohio State Thank You! -A Confused Student [link] [comments]  | |||||||||||||||||||||||||||
| Posted: 16 Apr 2019 08:25 PM PDT Hello! I am currently wrapping up a bachelors degree with about 15K debt, and will be attending graduate school in the Fall. My financial aid package should be offered in May, but i just wanted advice from you folks on these loans. My school estimated previously that it will offer loans to cover the Cost of Attendance (in unsub and grad plus). Does this sound accurate? Also my plan is to defer payment on undergrad loans until i finish school; is this a good idea, because i probably can't afford to pay while in school? I am currently trying to figure out housing and how much i can afford, so thank you for your input! Edit: What could I expect in this package? [link] [comments]  | |||||||||||||||||||||||||||
| Posted: 16 Apr 2019 07:28 PM PDT I'm from Puerto Rico (fyi also part of the U.S.) so most American services work for me here. Except that the school I wanted to choose, and got accepted to; is in Spain and not in the eligible lists. It's also for Graduate studies. Are there any services for Student Loans to study abroad, or anything similar that could help me? Thanks. Edit: I *was* thinking (can't edit the title) [link] [comments]  | |||||||||||||||||||||||||||
| How will my debt effect my marriage? Posted: 16 Apr 2019 03:48 PM PDT I'm about -55k in student debt, wages garnished. I'm considering proposing to my girlfriend but I was wondering the implications I could put on her by doing so. She makes almost twice what I do, and I would imagine they could garnish her wages too if she were to marry me? Or is it more only "my" problem? I make about 40k before taxes. Thanks! [link] [comments]  | |||||||||||||||||||||||||||
| Principal on loan is not decreasing like it should Posted: 16 Apr 2019 03:47 PM PDT I've always felt like the balance on this particular loan is absurd and hasn't decreased the way it should. I've been paying on it for like 10 years now. Today i decided to add up 12 months of payments made and the amount applied to principal. I used the amount their system tells me is applied to the principal. However, the current principal doesn't appear to have decreased by that amount when i deduct it from the principal 12 months ago. It is a variable interest loan and of course that's been increasing my monthly payment. I'm always on time and always pay at least the amount due. I sure know how to add but maybe I'm making a mistake? Does the daily interest get reapplied to the principal? Is it possible they're making a mistake? Edit add: It was Sallie Mae before-- navient now. [link] [comments]  | |||||||||||||||||||||||||||
| Student Loan 61k, Total estimate 141k Posted: 16 Apr 2019 02:26 PM PDT I owe 21k before scheduling classes and 40k for tuition. What is the best loan provider? I would need another 2 40k loans for junior and senior year without the help of scholarships, etc. [link] [comments]  | |||||||||||||||||||||||||||
| Teacher Loan Forgiveness: Nonconsecutive Years Posted: 16 Apr 2019 01:27 PM PDT I need help understanding the requirements of TLF and any exceptions to the requirements. I have read that I need five consecutive years in a Title 1 school to be eligible. In May I will be completing my 5th year in a Title 1 school district. However, between my third and fourth year, I took two years off to attend a fully funded PhD program. I left with a masters and returned to the same Title 1 district. Does leaving for school reset the clock (I'm assuming this is the answer)? Or is leaving for school an exception to the rule (what I'm hoping for)? I did notice the website says if you leave before the end of the year to go to school they'll still count that year. It does not say anything about nonconsecutive years due to school though. I'm trying to figure out the best approach to paying off these student loans. All insight is appreciated. Thank you. [link] [comments]  | |||||||||||||||||||||||||||
| Posted: 16 Apr 2019 09:34 AM PDT Hi everyone, I'm graduating in May and have a job lined up starting in June. I have been looking at the trade-offs of aggressively paying off all of my loans vs paying the minimum payment on the after being left with a comfortable, 3-4%, interest rate. To begin, here's a brief look at my loans (Total ~$43,000 @4.4%):
Note: Each balance is made up of three-four loans but I just added them up to simplify everything. My initial plan is to aggressively pay off the loans with 5.05% interest leaving me with ~$33,400 @4.17% average interest rate. On top of this, I estimate about $1300 of interest will be paid with this new balance in a year which will be tax deductible since my MAGI will be under $70,000. This will deduct $1300 in the 22% tax bracket lowering my tax liability by $286. This brings my effective interest rate of my loans to ~3%. At this rate, I personally feel comfortable investing the rest into my IRA/401K after making minimum payments on the standard repayment plan. Which finally brings me to my question.. At which interest rate did you decide, or plan, to pay the minimum payment on your loans? Do you personally feel the emotional benefit of quickly relieving the burden of student loans outweighs investing the rest in tax advantaged accounts? Does my math make sense/am I missing anything in my rough calculations? [link] [comments]  | |||||||||||||||||||||||||||
| Need advice/info about loan options Posted: 16 Apr 2019 11:39 AM PDT Hi everyone. I'm a high school senior, making my college decision very very soon. I am a pretty strong student, and my parents were banking on me getting scholarships to help with college. Much to our surprise and disappointment, that didn't really pan out. For my first choice school, I was offered a massive academic scholarship, but after room and board I'd still owe $32,000 a year. It's a very expensive, but very very nice, school. After room and board, my second school will cost me just over $22,000 per year. It's $10,000 cheaper but the quality of the school also drops significantly. The situation I'm in is tough. My family has a gross income high enough to make me ineligible for more than $5,500 in federal loans, and I can't do work study. The issue is that my dad, who makes the vast majority of our income, lost his job in the 2008 housing market crash and we've been struggling financially since then. He got another job and is back to making the same amount he was before, but we now have very little discretionary income and both parents have poor credit (low 600s). I am going into mechanical engineering, and I actually already have a good job lined up for when I graduate through a summer internship. I understand loans are difficult to pay off and a big deal, but I'm willing to take on the debt for the education and opportunity. Finally, that internship also has offered to pay for my education, on the condition that I work for them for 3 years per 1 year they pay for. The job is great and it pays well, I'm just not sure if I want to commit to 12+ years there. The question is, how am I going to pay for this? My parents are talking about selling the house, moving to an apartment, cashing out their retirements, all these huge things that just don't seem like the right thing to do. Are there other options that don't include community college? Will my parents be able to co-sign with such low credit? Can I get loans without them? Please let me know if anyone has any advice or recommendations, and thanks for the help. [link] [comments]  | |||||||||||||||||||||||||||
| Should I refi? Current loan total $37,572.70 with fixed 4.875% Posted: 16 Apr 2019 08:50 AM PDT I was on a forbearance with Sallie Mae from 2005-2010 and then I consolidated my loans w/ Sallie Mae and have been paying the bare minimum aka interest only since then. My credit score is around 730-780. I keep getting emails from NaviRefi that I should refi and I'm just not sure what I should do. I'm pretty sure all the loans were Federal, but Navient doesn't say that on their site or I can't find it. Any advice [link] [comments]  | |||||||||||||||||||||||||||
| How can I obtain a loan as a visiting student? Posted: 16 Apr 2019 07:55 AM PDT I'm registered to take a summer course in May as a prerequesite for a program that I am applying to later in the year that requires it. I'm graduating next month and would be a visiting student at the community college I would be taking the course in. However, I'm at a lost with how to pay for it as financial aid wouldn't cover it (non-degree) and the loans I currently have at this school are meant to be used for the degree that I'm obtaining not outside courses. Does anyone have any suggestions? I would appreciate it! [link] [comments]  |
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