PLUS loans HELP Student Loans |
- PLUS loans HELP
- How the fuck do loans work
- IBR vs PAYE vs ICR vs REPAYE
- Direct unsubsidized loan or use up savings for grad school?
- "We are unable to provide you with your Federal Income Tax Information. Double check the information you entered and try again or return to FAFSA and enter your responses to the financial questions using the information provided on your Federal tax return"
- PhD student about to finish, when should I consolidate and change to IBR plan?
- Can't pay
- Need Help Finding Lon Options to Repay Past Due Tuition
- Expecting my organization to pay a part of my student loan (biweekly) for a year and currently tracking for PSLF
- How is average student loan debt calculated?
- Taxes on Student Loan Compromise- are collection fees waived or also counted as taxable income?
- Should I take out parent plus loans?
- Private Student Loan for Second Undergrad Degree
- Refinance/Consolodation for mulitple loans question
- Can't get approved for summer loan
- So is there a "best" place to get a student loan from. Or is the difference so negligible, I should just go with Sallie Mae?
- Spouses and Repayment
- Best Way to Pay off Loan Debt
| Posted: 13 Jun 2019 01:38 PM PDT I went to a private university in NC. I am a first generation college student. I visited the university the summer before my senior year of HS and loved it. Applied, got in, got a couple small scholarships stuff like that. Well this left a massive hole in how much I would need to pay. I was told to take out loans. And so to do so I maxed out everything I could personally take out through FAFSA and my dad took out 120k in PLUS loans. It was implied to us that this was normal. The financial aid office at the university pointed us in this direction and we were dumb and didnt know better. I was a poli sci and theatre major. I graduated a year ago and am struggling to find full time real employment so I'm choosing to go the route of a full time professional internship for a year as a way to actually get into my field. This will only pay me a stipend of about 600 a month and also provide housing. The problem: My dad is a small buisness owner (autoglass, and safe light is basically running him out of business as is,) my step mom works as a medical receptionist. They do not make very much at all. All the loans in my name are deferred and so that's manageable for now but even in income repayment they want 700$ a month for 25 years from my dad for my loans. That's more than his mortgage payment. Like he would lose his house and buisness. I dont know what to do. Help! [link] [comments]  |
| Posted: 13 Jun 2019 04:02 PM PDT I cannot put into words how much I don't understand loans. I obviously understand the concept of loans, but where do I start? Do I do them through my school? How am I supposed know all of the different kinds of loans and know which loans I qualify for? How do I compare all of the different kinds of loans? Are government loans only given through your financial aid award letter or are there other outside government loans I can apply for? For real y'all I'm so lost if anyone has any tips or can answer any of these questions it would be appreciated cause every time I start doing stuff involving loans I have a little meltdown cause I'm so overwhelmed [link] [comments]  |
| Posted: 13 Jun 2019 02:54 PM PDT Can anybody give a rundown of the differences between these income driven repayment options? I see IBR suggested a lot on here and am wondering what it has to offer vs these other options, particularly PAYE. [link] [comments]  |
| Direct unsubsidized loan or use up savings for grad school? Posted: 13 Jun 2019 11:27 PM PDT I'll be switching fields and starting a computer science masters program in the fall. The total cost for the 3 years would be about $50,000. I'm wondering would it be better to take out a direct unsubsidized loan or pay cash for it as I go along? I have about $40,000 saved up, but I'm also worried about using up all of my savings and having nothing to fall back on. Another idea is to pay about $30,000 from my savings and take a loan out for the remainder. This would at least give me a 10k emergency fund. I don't have any current debt. Thank you for your input. [link] [comments]  |
| Posted: 13 Jun 2019 09:48 AM PDT I've been trying for the past week to transfer IRS tax information with the retrieval tool, which I do qualify for, but everytime I try to link it this message keeps appearing I know I placed the correct information I looked at the taxes for the year 2017 multiple times but every single time I tried this message keeps appearing and I'm quite desperate at this point can anyone think of what I'm doing wrong? [link] [comments]  |
| PhD student about to finish, when should I consolidate and change to IBR plan? Posted: 13 Jun 2019 12:58 PM PDT I would like some advice on the timeframe of consolidation and then switching to an IBR plan after I graduate from a PhD in 6 weeks. I have a postdoc lined up that pays $50,000 a year and about $140,000 in student loans so an IBR plan makes the best sense for me. Additionally, I will be working towards PSLF due to my career path being university-based. I know I should consolidate and switch to an IBR plan, but I'm not sure when I should start this process. Additionally, would any grace period be applied to the new consolidated loan, if I had used up the undergraduate grace period but have the graduate grace period still? Other possibly relevant details:
Thanks for the help! [link] [comments]  |
| Posted: 13 Jun 2019 05:14 AM PDT I have 4 direct loans with Navient for 50k+. I have a private loan with Sallie Mae for 11k+. I have 9 direct subsidized/unsubsidized loans with Great Lakes amounting to 30k+. Navient wants $585 a month, and right now I am still in my deferment period with Sallie Mae and Great Lakes, but have been paying $160 a month. Great Lakes wants $330 a month after that, and Sallie Mae I don't know how much they want after deferment. What would be the best course of action here to receive monthly payments? Can I consolidate the Great Lakes and the Navient? Any insight would be really appreciated as I feel like I'm drowning. [link] [comments]  |
| Need Help Finding Lon Options to Repay Past Due Tuition Posted: 13 Jun 2019 02:47 PM PDT To keep things concise:
If there is anything important anyone feels that I'm missing then feel free to ask any questions and I'll do my best to answer them. I am panicking!!! I really want to just get this balance out of the way so I stop accruing late fees and so I can apply to my next school!! Thanks everyone who took the time to read this! [link] [comments]  |
| Posted: 13 Jun 2019 03:42 PM PDT If I make the minimum payment required each month. How and where will this extra payment go? Will I be in paid ahead status? How can I get out of paid ahead status? What if I don't make the minimum payment required? At the end of the day, I want to make sure I am making the qualified payments for PSLF. Thanks! [link] [comments]  |
| How is average student loan debt calculated? Posted: 13 Jun 2019 09:43 AM PDT Almost every report says the average student loan debt a student carries after graduation for a bachelors is ~$23k. Is this including parent plus loans used to help students get through school? Or only debt the student carries? [link] [comments]  |
| Taxes on Student Loan Compromise- are collection fees waived or also counted as taxable income? Posted: 13 Jun 2019 10:40 AM PDT I let my loans get in a bad, bad state (severe anxiety, personal issues) and have been trying to figure things out. Rehab is no longer an option. P ~ 130k I ~ 52k P + I ~182k Total (+32k fees) ~ 214,000 Talking to collection agency confirms my research on 3 different compromise options: 1: Pay P + I, waive fees ~186k 2: Pay P * 0.5 * ~ 156k 3: Pay 90% (P + I ) ~ 164k Obviously option #2 is the best deal- if I can theoretically liquidate, beg borrow and steal, my questions is how much is considered "forgiven" and taxable? Are the collection fees taxable or just the "debt forgiven"? Theoretically the official compromise offer comes through the dept of education so the verbiage seems to be that the collection fees are "waived" and separate from the other totals. 214k - 156k = 58k taxable income? or 182k - 156k = 26k taxable income? Wondering because would have to raid taxable accounts to pull off this stunt and worried about planning for additional tax burden in the upcoming year. Thanks in advance, been having trouble finding the answer online. [link] [comments]  |
| Should I take out parent plus loans? Posted: 13 Jun 2019 03:58 PM PDT Hello everyone. I hope this is the right place to post this. I'm transferring from community college to a in state university, that I will be commuting to. I live with my mom(single parent) rent free, but I pay for everything else including car, gas, food, etc. I don't get any grants so in my first two years at community college I took out subsidized and unsubsizies loans from the government. Now that I'm transferring to university, the federal loans will only cover half the cost of my tuition. So I'm unsure of where to come up with the rest of the money. I can take out parent plus loans or I was also considering taking a semester or two off to save as much as I can to continue my schooling. I'm a biology major (Pre-Med) so the degree I'm getting will hopefully pay off in the end. Any advice you guys can give would be greatly appreciated. Thanks! [link] [comments]  |
| Private Student Loan for Second Undergrad Degree Posted: 13 Jun 2019 03:45 PM PDT So I'm in a pretty big bind.. I graduated in 2014 with my first degree. Since then I was forced to work while taking care of my sick father who had a massive stroke.. fast forward to 2019, my father's situation has motivated me to pursue a degree in nursing. I have been accepted to a private university that has a tuition of 36k/year for a 2 year nursing program. THE CATCH IS: I was approved for ONE private student loan for 11% which I've been told is CRAZY. Any advice or experience with something similar?? [link] [comments]  |
| Refinance/Consolodation for mulitple loans question Posted: 13 Jun 2019 03:22 PM PDT So I currently owe roughly $150,000 in student loans, 6 seperate loans with Sallie Mae and then one big Parent Plus loan with Navient. My monthly payments amount to about $1600 and I am struggling. I am looking into refinance and consolidation offers, but have a few questions. Now all these loans are in my parents names, I'm only 25 and not earning enough yet to get them in my name, but hope to do that within a few years. I know the Parent Plus loan is a killer at $55,000 and we looked into the IDR plans, but since the government takes both my parents salaries for that, the monthly rate is not much lower than what Navient wants. My step-dad looked at several companies like SoFi, Lendkey and Earnest and they all denied him with the income to debt ratio being too low. I can consolidate them all with Citizens Bank for about $1150 per month and then in a few years have my parents names taken off. My other thought was if I could do multiple batches of refinancing? Like start by refinancing all my highest private loans together, refinance the federal loan seperate and leave the others with Sallie Mae, since those are tiny loans. Is this possible to do, refinance multiples loans with different companies? My parents don't know too much about this so I'm stuck trying to figure this out on my own, so this may be a stupid question, but I am in the process of learning everything, so any help or advice would be extremely useful!! [link] [comments]  |
| Can't get approved for summer loan Posted: 13 Jun 2019 10:02 AM PDT I need a loan to cover the costs of my summer classes (that my school surprised me with, I need them to start my core coursework in the fall and I just transferred to this school) and tide me over until my SO's job starts in October. After Federal loans I was left with a $1k balance that I had to borrow money from someone personally to pay and avoid being dropped from my classes. I only make about $400 a week as a waitress. With nursing coursework, there's no way I can work full-time and be able to succeed. I have no one I can ask to co-sign with me. My SO is not a viable option. Suggestions on loan providers that will work with someone with average credit and low income I tried applying for the full difference of $7,700 and for $3000. Got denied or asked for a cosigner with everyone I have tried so far. [link] [comments]  |
| Posted: 13 Jun 2019 12:39 PM PDT |
| Posted: 13 Jun 2019 12:24 PM PDT So I find this weird: I am a small business owner and not making a lot of money. My spouse makes an ok amount of money so I cannot qualify for an income based reduction. That's fine. But my spouse is also a public service employee and is trying to go back to school. So while his income impacts the reduction of my student loan payment, the other items that would be of note do not. It seems wrong to include him financially but not include him when it comes to other items that would defer the loans. So the loans are mine, but not really they're ours, but not really they're mine. 🤷♀️ [link] [comments]  |
| Posted: 13 Jun 2019 11:12 AM PDT Hi, I graduated college a little over a year ago and need advice on options for paying off my student loan debt. Here is my current financial and loan situation. I have 4 loans which are all direct un-subsidized. They have been sitting in IDR for about a year, and I have made no payments on them yet because my income was low last year. My lender for all the loans is FedLoan servicing. Loan 1: $2082 at 4.45% Loan 2: $5236 at 3.76% Loan 3: $6148 at 4.29% Loan 4: $6464 at 4.66% Total Interest accrued: $383 I have $34,000 in savings, but don't want to blow it all on paying the loans in full right now, as I would like to invest some money in an IRA and/or stocks/cryptocurrency sometime within the year. Also, my car is an old beater and on its last leg, so I also need to make sure I have sufficient savings for a new one when the time comes. My current monthly income is around $2700, and my monthly expenses are around $500 (still live at home). I don't foresee either of these changing drastically for the next year. My FICO score is about 750. Given my current situation, what do recommend as my best course of action? From my research, many have recommended paying off the highest interest loan in full ASAP. Is this a good plan? I have also looked into using giftofcollege.com to get some credit benefits. Is this a good idea? [link] [comments]  |
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