Mom wants me to take on her Parent PLUS Loan Student Loans |
- Mom wants me to take on her Parent PLUS Loan
- my wife is a public school teacher, is she right that her loans can be forgiven after 10 years?
- Looking to refinance 200k
- I have to recertify my FedLoans soon. My mom is getting worse while battling cancer and my available cash will likely take a beating — is there a way I can express my situation to them?
- Prepaid debit cards to pay MYGREATLAKES
- Why are they allowed to change the amount of subsidized loans after it's already been accepted?
- Looking around at repayment plans on studentloans.gov. My loans are direct Stafford loans. Question!
- HELP - Parents told me Loans were under their name and not mine (this was wrong) - My credit score has now dropped significantly
- asking on behalf of a friend - refinancing low student loan debt but also low income
- Navient discharging loans?
- Ideas for refinancing private loan currently in my wife's name
- Grad PLUS Loan entering repayment soon while I'm still in school?
- Opinions on forgiveness programs?
- Parent Plus consolidation question about Co-signers
- Proof of Student Loans for apartment
| Mom wants me to take on her Parent PLUS Loan Posted: 29 Jun 2019 02:39 PM PDT I posted this in r/personalfinace as well, but there are a few clarification points here too. My parents and I had no idea what we were doing when we signed up for loans to pay for school because none of us had ever been to college. My mom and dad (married at the time) qualified for Parent Plus Loans and covered about half of my tuition, room, and board. I received a scholarship, which paid the other half. My parents told me that they would take on the debt because I had "paid" half by receiving the scholarship. Now, my parents are divorced and they want me to pay off my own student loan debt because they say they cannot afford it anymore. My mom is pressuring me to take on a private loan in my name and pay the loan off. She says she does not want the loan in her name still because it's hurting her credit. She also told me that the interest rate increases every 3 years, but I'm not sure by how much. I also don't know how she knows this? I graduated in 2015 and deferred for 2 years because of a public service organization that I was involved with, so what has been paid so far has barely scratched the surface. The PPL is at about 43K right now. At this point, I'm paying this under my mom's account - I go in under her name and use all my banking information to pay the loan each month (about $260 per month). To make things worse, at some point, I also had to take a loan out in my name while I was going to school, so there's a second loan for about 33K that IS in my name and I pay that each month too. I pay about $150 on this each month, so total, I'm paying about $410 every month, just in student loan debt. I am also completely financially independent, so I pay my own rent, phone bill, car insurance, etc. and I feel like I'm drowning. I'm working two part-time jobs and trying to go back to school for a master's degree. I have already made the commitment that I will not go back to school unless it is fully funded, so that I will not have to take on any more debt. I plan to return in the fall of 2020 if everything works out, but I'm really stressed about my money and financial future. I feel crushed under the weight of all my bills every month and I'm barely keeping up. I make around $1500 per month. My mom is pressuring me to take out a private loan and refinance, but I don't want to have 76K of debt in my name. Is this something I should do? Please help. [link] [comments]  |
| my wife is a public school teacher, is she right that her loans can be forgiven after 10 years? Posted: 29 Jun 2019 08:22 AM PDT I'm aggressively paying back my student loans but my wife is a little less neurotic about it than I am, she insists that as a public school teacher there's some program under which her's will be forgiven after 10 years. I've learned to be skeptical of these claims. Is she completely tripping? only half right? what's the story here? [link] [comments]  |
| Posted: 29 Jun 2019 08:48 PM PDT I've refinanced my student loans with SOFI and sitting at a 5.2% rate. I've found 3.X with First Republic but they want 10% in a savings account with them. Any suggestions? [link] [comments]  |
| Posted: 29 Jun 2019 11:09 AM PDT My mom has been battling cancer for three years and while she's been relatively stable most of that time, she recently has had complications and has been in and out of the hospital/physical rehab the last seven weeks. My family and will likely have some big bills coming, and will probably have to pitch in together for a nurse to watch her if she comes home and we can't be there, which can costs hundreds a week. My salary is $55,000, but this is the first year since I was hired that FedLoans will see my full income, so I expect my monthly payments will go up dramatically (they're about $105 now). I know I can't be the only one to ever gone through being a caretaker while paying off loans, but before I recertify, is there any way to express my situation to them, or is that something I just have to deal with? Any help appreciated [link] [comments]  |
| Prepaid debit cards to pay MYGREATLAKES Posted: 29 Jun 2019 04:23 AM PDT Can you use prepaid visa debit cards to pay mygreatlakes? I was wondering if I could sign up for a promotional 0% purchase APR credit card, load up on some prepaid debits at CVS or Kroger, up front the payment to save on interest, then payoff the credit card by the end if the promotion. Anyone have success with this or have better alternatives to save interest? [link] [comments]  |
| Why are they allowed to change the amount of subsidized loans after it's already been accepted? Posted: 29 Jun 2019 05:47 PM PDT Basically the government decided I didn't "need" the money from the loan despite the fact I already accepted the loan and am paying for college mainly by myself. Since I already submitted it I can't even take out the subsidized loans if I wanted to! (Not that I would it's a fucking scam). How the fuck are they allowed to do this? Literally make it so I would have to take out a even more predatory third party loan because they decided retroactively that I don't "need" the money anymore. [link] [comments]  |
| Looking around at repayment plans on studentloans.gov. My loans are direct Stafford loans. Question! Posted: 29 Jun 2019 04:59 PM PDT Hello! I'm peeking around at repayment options on the student loans site, and using the repayment calculator. On the calculator, it gives me an option to enter a "direct loan" or a "Stafford loan", however, my loans are called Direct Stafford Loans on the FedLoan site. So... they're both, I guess? I'm curious about which type of loan these are, because the site says direct loans are eligible for plans like Income Based Repayment, but Stafford loans are not. I go to a community college currently, and I was told that the Federal loans we take on here are eligible for these plans, but I guess I'm sort of confused now. Previously, I was planning on going to a more expensive school (Thank goodness I didn't!) and my parents applied for the PLUS loan and were denied, so my yearly federal loan limit went up. Could this have something to do with it? Am I not eligible for these repayment plans now? Any help? Thank you! :) [link] [comments]  |
| Posted: 29 Jun 2019 04:51 PM PDT Hello Reddit Background: I'm 22 M living in NC. Around 1 year ago I graduated from a public in-state 4-year University. To pay for school my mom and I both took out a mix of loans (fed direct subsidized, fed direct unsubsidized, and parent plus loan). All in all the totals for all the loans we took out came to a total of $40,982. I began payments in January and my mom was under the impression that all of the loans were under her name through Navient. Between her and I both we had been paying $338 a month through January - present. Around 1-2 weeks ago my credit score dropped significantly (mid 700s to mid 500s), my immediate thought was that since I was applying to rent an apartment this had caused my score to drop (now I know this should not happen). After some investigation, I found out that this was due to missing loan payments via Nelnet. It turns out the fed direct subsidized loans and fed direct unsubsidized loans were under MY name. Only the parent plus loans were under my mom's name. My mom confused her own fed unsubsidized and subsidized loans that she took out for community college to be my own. I have NEVER received any calls, letters, or emails from Nelnet that would let me know I owed this to them. I understand this is due mainly in part to my own negligence and not verifying loan payment terms etc. My question: Currently my outstanding unpaid balance is $2,000, which I can thankfully afford and pay without any issue. Ideally, though, I want to be able to fix my credit score. Is there someone I should contact in regards to fixing my credit score before paying the due balance? The last thing I want is to pay this off and my credit score remains incredibly low. Any tips, comments, or help is GREATLY appreciated!! [link] [comments]  |
| asking on behalf of a friend - refinancing low student loan debt but also low income Posted: 29 Jun 2019 11:54 AM PDT So I just found out a friend of mine has around $5K of student loan debt. It was originally $11K in 2013 when she dropped out of college, and she's whittled it down to this much now. I think she also makes like $20,000 a year as her income. What are her choices for refinancing that student loan debt? I know it's a low balance compared to what most people have, but it's a lot relative to her income I guess. But because of her income, I'm pretty sure stuff like SoFi won't work? Her Transunion/Equifax credit scores on CreditKarma are listed as 694/695. [link] [comments]  |
| Posted: 29 Jun 2019 10:37 AM PDT I took loans out through KHESLC (Kentucky government loan thing) about 15 years ago and then with Navient about 7 years ago. I've been paying them off on time but recently I was with someone who indicated that Navient is discharging loans over 10k if you've had a good payment history and you just need to contact them. She indicated that this was not any teacher/government employee program but that it was related to lawsuits. I can't find anything about this, does anyone here have more details? Thanks! [link] [comments]  |
| Ideas for refinancing private loan currently in my wife's name Posted: 29 Jun 2019 08:21 AM PDT Wife took out SallieMae loan during college with her uncle as a co-signer (before we were together). Interest rate is quite high 12-14% but balance is down to $6,000 as we have been paying it right out of school. Is there any way I can take a different loan to pay this loan (similar to refinance) in my name? Uncle wants off the loan, and i have a higher income and credit score than my wife. Hoping to get a lower interest rate in the process as well. We are able to pay it off before the 6 month out of school period even ends, the main thing is to have it in our name and not the uncle. I have been looking at sites such as nerd wallet/credit karma, but cant tell if its even possible since my name is not on the original loan? Thanks for the help [link] [comments]  |
| Grad PLUS Loan entering repayment soon while I'm still in school? Posted: 29 Jun 2019 11:54 AM PDT I just got an email that my interest capitalized on my loans, so decided to check my account to make sure my loans weren't entering repayment accidentally for some reason. My other non-PLUS loans clearly say payment isn't required yet, but the PLUS loans I've taken out now say that payment is required in August. I'll still be in school for the remainder of summer and Fall, so shouldn't I have that time in deferment for the PLUS loans and then the usual 6 months after? The payment is really low because my PLUS amounts are in general low themselves, but I'd rather wait as I have some big moving expenses coming up. However, I would be open to paying the amount if you guys think on time payments on the loan would help my credit as that is something I'm trying work on before graduating. If I do start paying these PLUS loans, what payment plan do you think is best? I have been thinking one of the PAYE/REPAYE ones, but honestly the difference between those two is a little confusing to me. I would also be interested in enrolling in PSLF since I'll technically be an employee at a public university as a graduate assistant if I do start paying these PLUS loans now. [link] [comments]  |
| Opinions on forgiveness programs? Posted: 29 Jun 2019 11:37 AM PDT So I have about $100,000 in student loans that need to go. I was thinking about trying out some loan forgiveness programs. Does anyone have any experiences with them? [link] [comments]  |
| Parent Plus consolidation question about Co-signers Posted: 29 Jun 2019 09:45 AM PDT Sorry if this is a FAQ: I'm Paying what was originally a Parent Plus loan through Navient, that we consolidated. How do I determine who's name the loan is in (I.E are there co-signers) and does consolidation change the status of the loan? So is it not Parent Plus anymore? They were all "Direct Parent plus" now they're "DL Consolidated - Unsubsidized" For example parent plus is cancellable by death I think, does consolidation with my private loan collector change that? Prioritizing my federal loan right now and trying to figure out the status of that monster before I have to get aggressive with it. [link] [comments]  |
| Proof of Student Loans for apartment Posted: 29 Jun 2019 06:46 AM PDT I am beginning law school this fall and will be using student loans (Federal Direct Unsubsidized Loan 1) for the first time. I have completed everything, including the MPN, and am waiting for the school year to begin to receive my first disbursement. I am trying to sign the lease for an apartment near campus, but am needing to show the proof of my student loans as that is how I will be paying most of my rent. They want an official document, which I'm struggling to find. I'm able to view all of my loan information and the amount via my school and FAFSA accounts, and tried to offer a screenshot of these but they decided they need something more official. Any idea of where I can get an official document stating the amount of my loans if I haven't received any disbursements yet? I am not in the NSLDS yet either. [link] [comments]  |
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