A big thank you Student Loans |
- A big thank you
- Student Loan Refinancing Options?
- Loan rehab (9 payments) and garnishment
- Does consolidating a student loan in collections benefit the collections company?
- Sanity check: wife owes $0/month on IBR
- Should I continue paying more than the minimum affect my credit score?
- Where to send loan deferment letter?
- Loans didn't come through
| Posted: 01 Jun 2019 05:53 AM PDT Just wanted to thank this sub for giving me the motivation to refinance my loans after seeing all the posts of how doing so helped you in the long run. Went from having 5 loans through Sallie Mae with interest rates getting as high at 12.5% 🙄🙄 and a monthly payment of $945 to one loan through Lendkey with a fixed 6.88% and a payment of $535. Saving soo much money in the long run and I definitely plan on refinancing again once my money situation and credit score gets better. Also have crunched numbers and really looked into the benefit of putting as much as I can spare each month toward this new and improved loan to get this paid off as quickly as I can. Thanks again for lighting the fire under my butt to get me going instead of dreading every time I made a payment and knowing it was doing pretty much nothing! [link] [comments]  |
| Student Loan Refinancing Options? Posted: 01 Jun 2019 06:57 PM PDT Hey so I am going to graduate school and instead of going in with a ton of debt and deferring it for 5-6 years I figure it would make more long term sense to refinance and pay it off on a month by month basis and end up graduating with little debt since I live very frugally. Details: Income- Roughly 25k a year from graduate school (no tuition) Assets- Currently around 30,000, another 5,000 in a Roth IRA Credit Score- Around 740 My grace period ends next month for my private loans and I'll be refinancing them ASAP. I'll also be applying for a new lease soon but I figure that refinancing first will be the better option as that will have an impact on my interest rate. Since I'm not currently earning income refinancing is a little tricky. Anyone know of any good options? As far as I know Earnest won't let me refinance if I'm in school (unsure if that includes graduate school where I'm getting paid) and others require me to currently be getting paid. [link] [comments]  |
| Loan rehab (9 payments) and garnishment Posted: 01 Jun 2019 09:57 PM PDT Trying to help out a friend.... Her pay is garnished, obviously because she is in default on her Federal loans. If she agreed to rehab, would the garnishment cease immediately, after a few payments (5?), at all? Couldn't make payments led to garnish... How could she make them paying garnishments + rehab payments? Thank you! [link] [comments]  |
| Does consolidating a student loan in collections benefit the collections company? Posted: 01 Jun 2019 05:52 PM PDT I have a small student loan in collections and the collections company told me that they want me to consolidate it with my other loan. The school I got the loan from originally told me that the c.c. would either offer to consolidate or let me make the original payments until the loan was paid off. When I spoke with the collections guy, he seemed to not want to go with the payments route and really pushed consolidation. Does going that route benefit them in some way I'm not seeing? And does consolidating harm me when compared to paying it off monthly? [link] [comments]  |
| Sanity check: wife owes $0/month on IBR Posted: 01 Jun 2019 08:38 AM PDT Hi SL! I just need a sanity check on this situation. My wife owes about $24k of federal loans (average interest rate around 4.5%). She's a stay at home mom now, with zero income of her own. Last month she filled out an IBR application, and they told her she owes $0/month. Nothing, until she fills it out again next year. We filed our taxes as married filing jointly last year; I made about $95k. Does that situation seem right? It feels off to me, as we filed taxes jointly and my income isn't low. I'm interested to know what you all think. Thanks! [link] [comments]  |
| Should I continue paying more than the minimum affect my credit score? Posted: 01 Jun 2019 05:35 AM PDT I have been out of undergrad for four years and came out with about $48,000 in student loans and I currently owe about $35,000. About 5 months ago, I started paying about $200 more than the minimum and noticed that more of the loan was going towards the principle and less towards the interest. It's gotten to the point where I have no payment due on some of my loans when I get ready to pay Navient off. I'm glad the principle and interest is going down but I'm worried that it will affect my credit score. My concern is similar to how people who pay off a credit card and don't use it for awhile. [link] [comments]  |
| Where to send loan deferment letter? Posted: 01 Jun 2019 10:03 AM PDT My student loans need to be deferred and my school said they need to send a verification letter of my enrollment status, they just need to know where to send it. I have the federal student loans and I think the servicer is MOHELA [link] [comments]  |
| Posted: 01 Jun 2019 01:34 PM PDT Hello all. I'm brand new here, so please bear with me! So I have about a year left of undergrad, and I've been paying my tuition completely with loans up until this point. It's been pretty automatic, and usually I don't have to do anything except accept the loan amount, and my tuition will be payed on time in full. I hadn't gotten an email about accepting my loan offer yet, but I wasn't worried because I figured my payment was just being deferred to the second half of summer, when my other class starts (this is what happened last summer.) I got an email yesterday from my school saying my tuition for this term is unpaid and I have a week to pay or I will get dropped. I work part time at a 9-5 place, so I didn't see it until after work. I checked my account, and sure enough, there's no loans there. I haven't done anything differently, and I'm not on any type of probation, so I guess I'm just wondering what could have happened? I can't call my school or loan provider to talk to anyone until offices open on Monday, so I'm just sitting here worrying about it. I'm not proud to admit it, but I'm pretty clueless about all this. I've definitely taken this as a huge wake up call, but for this weekend, I just don't know what to do. Has this ever happened to anyone else? [link] [comments]  |
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