Affordable Care Act’s “Higher Education” act? Student Loans |
- Affordable Care Act’s “Higher Education” act?
- Need help balancing federal and private loans
- How to enter severance on OMB No 1845-0120
- Refusing grace period and filling out ECF?
- Looking at a program overseas
- Deciding whether to accept settlement offer on defaulted federal loan
- Paid ahead until January- where to allocate payments?
- Slowing down paying loans to buy a house now while I still can?
- Foreign spouse living abroad repayment plans
- Conflicting information - What do I do?
- Do I still have enough time to build credit history?
- Private student loans for international students
- Can anyone tell me which repayment plan this is and do I have any say in changing it?!
| Affordable Care Act’s “Higher Education” act? Posted: 27 Jun 2019 03:23 PM PDT I know it's probably a scam, got a call from a loan forgiveness company. Didn't give them any information but they mentioned the ACA is actually called "The Affordable Care Act and Higher Education" and has some kind of contents that have to do with college. According to the dude on the phone, the gov put aside billions to help relieve students of their loans, but I've found virtually nothing about the higher education part. However I did discover that is in fact the real name of the act and there is something regarding college that was stuffed into the ACA. Is this a real thing? The company itself was called Fast Track Servicing, and the info I found on them is nil and skeptical at best. But is there something in the ACA I should look into on my own? Edit: just learned of the SAFRA Act rider on ACA that expands income-based repayment plans. Is there something there that I can take advantage of? My monthly payment for my loans is higher than all my other bills combined [link] [comments]  |
| Need help balancing federal and private loans Posted: 27 Jun 2019 12:14 PM PDT Hi guys, so I'm going to be a senior this coming fall and will owe $54,000 in private loans with a 7.2% interest rate and federal loans about $24,000 with 3-5% interest rates (bunch of small loans combined) Based off calculations my repayments would be around $500 a month for the private and $250 for the federal. I understand federal allows you to extend your repayment plan to 15 years as opposed to the standard 10 year plan, but only if you owe more than $30,000 in federal loans. Is there any chance I can get the extended federal repayment plan since I have private loan debt as well? Or can I just pay my private loans off first without getting screwed by the federal loans? I'm a first generation college student and got very little help on this so any advice would be great. Also, I have a job locked in when I graduate making 65k before taxes. [link] [comments]  |
| How to enter severance on OMB No 1845-0120 Posted: 27 Jun 2019 07:59 PM PDT Hi all -- I have a loan that is in default and my wages have been garnished to pay on it for awhile. My company was just acquired and I was downsized with a severance that will be 1.) 15/52nds of my annual salary and 2.) will be paid in 2x/month installments as if it were a paycheck. I'm looking at items 1 - 9 in section 2 of OMB No 1845-0120. I'm not employed (#1) so I think I need to put the severance in #9. The page of the severance contract that has the payout computation on it also says that I can't share it with other people or I will violate the terms of the severance... So I also don't know how to document my "income." [link] [comments]  |
| Refusing grace period and filling out ECF? Posted: 27 Jun 2019 10:24 PM PDT I am finishing up my PhD in Counseling Psychology and will complete my internship at a state hospital on August 31st. I received the last of the loans I needed this summer. I will not be enrolled in credits in the fall, but my degree won't formally confer until December. I'll also start work at a public university directly after my internship at the end of August. My questions are: Can I go into repayment immediately (Payments will be $0 based on last year's income)? Should I fill out the ECF for my current position or just wait until I start the new job? [link] [comments]  |
| Posted: 27 Jun 2019 09:59 PM PDT So I'm looking at a few schools overseas that are not on the financial aid list, which is fine I don't need it. My question is will I have to start repaying my bachelors while going for my masters overseas of the college is not recognized by FASFA or is there a way to run it through them so they know I'm still in school, but not recovering loans? [link] [comments]  |
| Deciding whether to accept settlement offer on defaulted federal loan Posted: 27 Jun 2019 07:01 AM PDT My federal loan is in default and was bought by a collections company. They have offered me a settlement with a 90-day time limit. The amount they are asking for pretty much the absolute maximum I could manage to pull together within three months. My questions: 1) If I agree to the settlement but am not able to pay it off within three months, what would happen? 2) It is my understanding (from my own research and also from what the collections company tells me) that I can't negotiate the settlement amount down any further because the loan is federal rather than private. Is this correct? 3) Is there anything I should know/do if I decide to accept the settlement offer? Any potential pitfalls? Anything specific I should ask for, or refuse to accept? Thanks very much. [link] [comments]  |
| Paid ahead until January- where to allocate payments? Posted: 27 Jun 2019 06:27 PM PDT Hi all. I have all federal student loans that are currently held with Great Lakes. I've been in repayment for a while (since about 2013 maybe?), mostly making minimum payments or slightly higher. Currently I am paid ahead until January (I'm on an income based repayment plan). I am due to have my IBR renewed by September 1. My current required monthly payments are only about $70, but I am certain once I renew my IBR that minimum payment amount will go up a bit because my financial situation has changed since I last renewed. Anyway, I am wondering if I am paid ahead until January, should I work to chip away at some individual loans (starting with the smallest loan) in lieu of making the regular monthly payment? In other words, should I manually allocate my payment to go toward specific loans (otherwise my payment are all going toward the interest). I currently use YNAB (amazing program for budgeting- I'm a little obsessed with it), and I can probably make some higher payments work. All my payments have been going to interest and I want to cry looking at my loan because I've paid over $16k on my them and my balance is higher than where it started. Since signing up for YNAB, I am really looking to getting my loans paid off hopefully in the next 6-7 years. I have about $49k principal and about $8k in interest between all the loans, and all have a 6.8% fixed interest rate. There are a few loans that are pretty small, all things considered, then others that are close to $10k. Thanks in advance for any advice! [link] [comments]  |
| Slowing down paying loans to buy a house now while I still can? Posted: 27 Jun 2019 09:29 AM PDT In three months Ill have paid off my 6.55% interest loans. Ill have a remaining 18k at 4.5% My original plan was to pay them all off before buying a house. They would all be paid off by this time next year, but the itch to buy a house is so real! Im putting 1800 on my loans each month so I would be able to save up fairly quickly for a downpayment within another year, but another two years renting makes me feel paranoid. We live in Minneapolis and the starter home market is competitive. I have a fear that if don't get "in" now that in two years only over priced developed garbage will exist. I see houses getting flipped in the most appalling ways. I also desperately want to be student loan debt free asap. Does anybody else feel paralyzed like I do? [link] [comments]  |
| Foreign spouse living abroad repayment plans Posted: 27 Jun 2019 06:33 AM PDT So I'm in am unusual position and I'm hoping to harness Reddit's collective wisdom. I'm British and live in London with my wife, who is American, but works here. She's looking at PAYE/REPAYE plans for loan forgiveness. Where it gets a bit tricky is because neither of us file taxes in the US and her salary is in GBP. So I was wondering if anyone knows how this affects the plans, because I know they go off the US poverty rate depending on US state, but there's no info I can find for living abroad. Also for REPAYE they want to know my salary as well as hers, which as far as I'm concerned is non of the US Government's business. Has anyone got any insight into this? [link] [comments]  |
| Conflicting information - What do I do? Posted: 27 Jun 2019 01:25 PM PDT So, to start off with, I'm an idiot. I've never been very good with money, but I'm working on it. I took out some student loans about 9 years ago, made some payments on them and then just kinda stopped. It went into default, I entered debt rehab, made a few payments and then just stopped making them before the rehab was finished. Went back into default, and I haven't made a payment in years. They never did much about it besides annoying phone calls until a few months ago when they took my tax return (~$3300). My employer contacted me today to let me know that they received a wage garnishment notice over the remaining outstanding debt. I have the money to pay it off today, but I'm having a hard time figuring out the actual total and to whom I need to make the payment. The wage garnishment notice my employer received lists the creditor agency as FH Cann & Associates, with a total amount owed of $11,939.38 and an order to garnish 15% of total disposal income. I was having trouble with FH Cann's site so I decided to check out myeddebt.ed.gov which lists my outstanding balance at $10,138.23 and redirects me to pay.gov to make payment. Calls to their customer service line state that the debt is held by FH Cann and to deal with them. nslds.ed.gov shows a loan total of $10,122 between 2 Stafford loans (1 subsidized and 1 unsubsidized, if it matters) and lists both loans as currently being services by Debt Management and Collections System, which is the aforementioned myeddebt.ed.gov. So, what the hell do I even do here? Like I said, I have the cash to pay this off and get this shit off my shoulders for good, but they're not making it easy. Who do I pay? Which total is correct? If I make the payment today, am I still going to have my wages garnished? How do I put a stop to that? Thanks in advance. [link] [comments]  |
| Do I still have enough time to build credit history? Posted: 27 Jun 2019 02:00 PM PDT In order to take out a loan by August? I'm in the process of getting a credit history now so PNC can stop being little bitches and give me the loan ALTERNATIVELY, can't I just use the credit card to pay the tuition bill? Like, everytime a bill pops up I just use the credit card to pay for it. Then I just not pay the bill until after I graduate like a normal student loan? Why can't I just do that? [link] [comments]  |
| Private student loans for international students Posted: 27 Jun 2019 06:06 AM PDT Anybody here an international student and have any experience with taking out student loans in the US? I'm thinking about finally taking out one but I'm so lost. I'm a 23F, second year law student on an F-1 visa. My parents still live in my home country and would be able to assist with starting loan repayment in time after graduation in 2021. [link] [comments]  |
| Can anyone tell me which repayment plan this is and do I have any say in changing it?! Posted: 27 Jun 2019 05:21 AM PDT I applied for an IBR. Navient responds saying "the payment terms of your loans have changed" I click the link to the list referring documents and it doesn't even tell me what plan they placed me in (looks like revised pay as you earn? I only got this "change in loan terms" document which listed how many payments I would be making and how much/date effective. It starts as 7 payments of $321 going all the way up to 24 & 20 payments of $619 & $666 respectively. So in year 2038, when I'm 53 years old I will have paid $117,308.99 on my original $55,000. Current interest rate is 6.625% I make $54,000 a year as a speech language pathologist and I won't likely ever make more than $60,000. My husband and I filed separately (he also makes $50,000 and has the same amount of loans) so he could get into public loan forgiveness. I work for two different 503b hospitals totaling 35+ hours per week, but because I'm not full time at either I don't qualify for pslf. When I used the studentloans.gov calculator, every plan but one made more sense than my previous standard plan. It looks like they put me in the shittiest one. TL;DR : HELP. Should I go back to my standard repayment plan & if so, how?! [link] [comments]  |
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