Soooooo many loans! >300,000k. I make good money but I’m still in sooo deep!! Who refinances where??? Student Loans |
- Soooooo many loans! >300,000k. I make good money but I’m still in sooo deep!! Who refinances where???
- Recertified for PAYE - wife income required even though we filed separately
- Any negatives to leaving IBR?
- Pay off student loans this summer - or take out less in loans this fall?
- Hopefully this is the right place !
- Need advice: Fed Direct Grad PLUS or Fed Direct Unsubsidized?
- Does anyone know about any good scholarships/grants for graduate school?
- How much should I pay on my loans monthly?
- After Loan Rehabilitation...
- My Father Got Accepted for the Parent Plus Loan, But Shouldn't Have
- No idea how student loans work
- Recommend what you believe the best private loans are and why?
- Can't find a loan provider
- I have student loans coming up and it doesn’t give me an option to give my own payment plan and I can’t afford it.
- Claiming UC
- Perkins loan transferring to Department of Education
- Loan Disappears But Now They Want to Take Me to Collections
- Suing guarantee agency
- Has anyone applied for a Graduate Fellowship Deferment application? What parameters in your situation allowed you to qualify for it?
- Where can I see the monthly interest for my Navient loans?
- Grad school loan-one week time
- Why is my extra payment going to the principal and not unpaid interest?
- Refinance worth it or not?
| Posted: 18 Jun 2019 06:02 PM PDT | ||||
| Recertified for PAYE - wife income required even though we filed separately Posted: 18 Jun 2019 09:32 PM PDT I just recertified my income for PAYE and I am curious about why I was forced to have my wife co-sign my application even though I was careful to file separate returns so as not to affect my payment. It is my first year doing this after being married so I am just nervous about this. I assume that the recertification form doesn't "know" that I'm on PAYE so they just ask for the information and co-sign by default. [link] [comments]  | ||||
| Posted: 18 Jun 2019 07:17 PM PDT Currently at 10 year amount. I was considering going to a standard payment plan. Anybody know what the cons are to leaving income based repayment? [link] [comments]  | ||||
| Pay off student loans this summer - or take out less in loans this fall? Posted: 18 Jun 2019 09:06 AM PDT I am currently an incoming senior, and I finance college by myself. Like many here, I have had to take out a good deal of student loans - both sub/unsub as well as private. I have a fantastic summer internship and get paid around $1600 every 2 weeks, much more than I need in order to eat/pay rent/insurance/cell phone. With the leftover money, I'd like to get a head start on either 1) paying down my student debt OR 2) saving up enough money to where I wouldn't have to take out any higher interest private loans, or at least in a very little for my final year. Here are some stats that may help: -I have unsub/subsidized loans that are all a little over 3%. -I have 2 private loans with a 9% interest rate - pretty high I know. My parents are unable to co-sign though so I had to do what I had to do. -My monthly rent (utilities included) is $529/mo. -I pay my dad $150/mo. to help cover insurance and cell phone bill. Any advice would be helpful, thanks!! [link] [comments]  | ||||
| Hopefully this is the right place ! Posted: 18 Jun 2019 04:41 PM PDT I got $2,286 Pell grant my EFC is 0. I understand that's the amount awarded if you take 9 credits during summer. I only plan to take 6. I'm also aware it changes. Do any of you know where I can check, or happen to know how much I'll be getting? Texas, USA Thanks for helping me out! [link] [comments]  | ||||
| Need advice: Fed Direct Grad PLUS or Fed Direct Unsubsidized? Posted: 18 Jun 2019 10:08 PM PDT Financial Aid Award for the Award Year 2019 - 2020:
Hello everyone - I'm enrolled in a masters program and was offered the following numbers... I never heard of a Direct Grad Plus Loan so I need some advice choosing which option to choose from. Currently, I have $15,000 of undergrad debt that I am paying off but most of those are in deferment due to me being in school. I'm working FT and am determined to pay off whatever I can. But, in the long run, which sounds better? Btw, for 2019-2020, I plan on taking only ~$10,000. Thank you! [link] [comments]  | ||||
| Does anyone know about any good scholarships/grants for graduate school? Posted: 18 Jun 2019 10:02 PM PDT | ||||
| How much should I pay on my loans monthly? Posted: 18 Jun 2019 05:01 PM PDT I recently just graduated and started working I currently owe $17,500 in loans. I make $65,000 a year which is $1,986 every two weeks after taxes how much should I pay monthly on my loans. Also my expenses are $1,700 a month. Just curious should I pay a much as I can and get paid off fast or spread it out. I've been thinking about paying it off in 6-24 months. Also i might put down 4k or 5k on my loans before i start paying on it monthly. What do you guys think? Interest rate is 4.24% [link] [comments]  | ||||
| Posted: 18 Jun 2019 07:07 PM PDT Has anyone, after the nine payments with loan rehabilitation, ever been able to settle for a lower amount than the remaining balance? I am currently on an IBR plan. If I pay the minimum balance every month, that does not even knock out the interest on my loans by the ninth payment. Is there a chance that the next creditor will be willing to settle for a reduced lump sum payment? Any response is appreciated. [link] [comments]  | ||||
| My Father Got Accepted for the Parent Plus Loan, But Shouldn't Have Posted: 18 Jun 2019 11:09 AM PDT Hello all, I recently posted on here with some information regarding my struggles in paying for college and how I was basically out of options. I looked into the parent plus loan and it looked to be my golden ticket, as my father has a horrible credit history and low paying/infrequent job. So we sat down, I helped him apply for it and everyone was sure he would get denied so that I could take on the loan instead of him. Sure enough, 24 hours passed and he got an email saying that he had been accepted for the loan. I'm not sure what to do, my father isn't panicking but I am because 1 years loans is more than he makes in a year since he works a seasonal job and anything as small as rain can put him out of work for the day. I've emailed my college's financial aid office describing my situation but they're currently out for the day attending a meeting. Is there any way I can salvage this in order to take the loan on myself, such as showing them his earnings or anything of that nature? [link] [comments]  | ||||
| No idea how student loans work Posted: 18 Jun 2019 09:06 AM PDT I started school at a community college to minimize the amount of loans I had to take out and also went to a state school. Once I graduated I had $27,000 in federal student loans, which I was ok with. Then I realized once my grace period was over that I had another $30,000 in parent plus loans :/. Its overwhelming, at first I had been making the payments on my loan, but when I found out about the parent plus loan I had to change my payment plan to income driven so I could afford to make the other loan payments. It seems like the payments I make don't even matter because the loan balance keeps growing and I'm afraid my balance will balloon if I don't change something but I don't even know where to start? Any advice please. [link] [comments]  | ||||
| Recommend what you believe the best private loans are and why? Posted: 18 Jun 2019 11:45 AM PDT Alright, title kinda explains it all, I wanna avoid dumb choices so recommend what you guys believe is the best company for private loans and why you believe so. I might be facing a lot of loans, so I want to know my best options. Thank You! Edit: if you want my full situation, Link here: https://www.reddit.com/r/Advice/comments/c2crb9/alright_so_i_need_some_life_advice/ [link] [comments]  | ||||
| Posted: 18 Jun 2019 11:07 AM PDT I'm an undergraduate junior who is transferring to a more expensive school. At my old college, my mom took out a parent plus loan, but for this new college she keeps getting rejected because her credit score is too low and has done 6 hard checks this year. I have no credit so I can't take out a loan in my name, and have been looking for a job for the last 2 1/2 years and haven't gotten one so my hope has been to get a job on campus but it's not guaranteed. Are there any providers that would accept people with bad credit or no credit whatsoever so I can take it in my name? [link] [comments]  | ||||
| Posted: 18 Jun 2019 06:10 AM PDT It's asking me for like $600 a month that's insane. I don't know what to do. And that's with "Pay as you earn". That's over half the check I even make. What should I do? [link] [comments]  | ||||
| Posted: 18 Jun 2019 09:25 AM PDT Not sure if this is the right sub for this but here goes.... So my friend has just been found out from benefits that he is a full time student and has been claiming Universal Credit. He has had a phone call and was told that it was a legal document and if he's found to be lying he would face prosecution. He owned up to being a student and said didn't realise he couldn't claim. Anyways what I want to know is if his only income is student finance can they take the money off of that? He reckons he owes around £3000 to the government for his 2 claims since being at university. He has been told he will have to pay it all back but just wants to know if anyone has been through this and what to expect. The whole situation is really affecting his mental health. Any advice appreciated. TIA [link] [comments]  | ||||
| Perkins loan transferring to Department of Education Posted: 18 Jun 2019 08:50 AM PDT I got an email about the title:
Curious if anyone else here got it. I'll miss the quarterly payments, but does away with the bullshit one time payment fees if I wanted to pay more towards the loan. I'm a little confused as to why they said we can't take advantage of repayment plans once it's transferred to combine in one list with the rest of my other student loans there. Edit: added in last part of email. Whoops. [link] [comments]  | ||||
| Loan Disappears But Now They Want to Take Me to Collections Posted: 18 Jun 2019 11:41 AM PDT Hello, Thanks in advance for reading this. Here is my loan situation: From one particular loan company -- I had 2 loans for school. My mom had cosigned on the loans because I could not obtain them solely by myself. I had been paying on the loans for several years and both were current as of 2012. In 2012 I filed for Chapter 7 bankruptcy. My mother was then notifed that she became the primary borrower on the loan and that I was no longer allowed access to any information regarding the loans. In 2013, my mother and I completed a 3rd party authorization for release of information so that I could have renewed access to view the loans which allowed me to continue making payments and receive all communications regarding the loans. At some point after the bankruptcy, I noticed that the payment portal (on the loan servicer website) for the two loans updated. One loan had my name on it and the other had my mom's name on it. I continued to make payments on both loans until, tragically, my mom passed away in February 2018. I notified the loan servicer of this event by phone and they told me to send a death certificate for their records. As I was doing that -- the loan servicer changed my normal payment to "Payment Due: 0" for March 2018. I assumed it was just a courtesy while things got sorted out. Then I received notification that payment for the loans would resume. I made my normal payments in April 2018. When I went to go make the May 2018 payments, the loan that was under my mom's name was gone. I couldn't see a way to pay for it and the balance wasn't rolled up into the other loan. I called the loan servicer and they opened a special case to research what happened. Days later they informed me that the loan was indeed gone from their files. They indicated that the loan likely went back to the loan originator because of my mom's passing. They also said that -- from what they could see -- the loan was never properly reconverted to me after the bankruptcy. They said that the loan had been that way since *2014* (!) I asked the loan servicer what was next and asked if the loan going to be reconverted to me. They said -- as far as *they* knew -- when the loan is gone it's gone. They said to look for an update to my credit information within 30 days. I have free year-round access to my Experian credit reports and kept checking throughout May to see if anything changed. Finally -- it did. I saw that the loan information updated to say that the loan was closed and my liability for the loan is "terminated." I also saw that my total outstanding debt balance for all of my credit-reportable debt went down the exact amount of the loan. Pleased with this, I continued on with my life and continued to make payments for the remaining loan of the pair -- which was still in the portal, and still under my name. Then -- about 5 months later -- I got a call from the loan originator. They were wanting to know why I hadn't made any payments on the loan that disappeared from my possession. I told them because the loan is no longer attached to me and it's not on my credit report and I've not heard a thing about that loan since it vanished. They said OK and that was that. Three months later -- same thing. I told them the same thing that I said earlier and they said OK and hung up again. Three months after that -- yet another call to say that I'm a year late with payments on this loan. I said that the loan doesn't belong to me anymore and that it's not on my credit report, etc. The woman on the phone was actually extremely nice and said "oh ok! We didn't know -- I will add those notes to the file and now we know what's going on!" After that - I went and checked my Experian credit report again -- loan still said closed and liability still said terminated. I saw no credit markers whatsoever. I also did not see the loan reattached to me in any way or any new loans added to my report. My total debt balance also did not have an unexpected jump back up. Weeks after that phone call -- I was informed that the loan was now in collections. I started getting multiple phone calls from a collection agency that asked how/when I was going to settle this debt. I asked for the phone calls to stop and that all communication go through USPS. I then called the loan originator and asked what the deal was. They said that I was still liable for the loan. I told them that's not what my credit report says. I asked them if I should have received any negative credit reporting and they said that I should have received multiple credit markers for being late at various intervals all the way up to 360 days late. I told them I had no such markers. They didn't know how to respond. I then asked if they had record of sending me *any* written or e-mail communications regarding the loan after the originator took it back. Did they send any information on the new status of my loan, any new account numbers, new balance, new terms, new payment portal ... ANYTHING. The worker on the phone looked and responded "we have no record of sending you any communications other than the phone calls." I then paid the small fee to have access to all of my credit reports. I looked at my Equifax and TransUnion credit reports and both also said account closed and liability terminated for the loan in question and no new loans added to my account. Then I received two sets of mail: One was a notice of Proof of Debt from the collections agency. Interestingly enough, a duplicate of this letter was ALSO addressed to my MOM. A second piece of mail was received that was a copy of the promissory note from the loan origination. Interestingly ... this was ONLY addressed to my mom. I now have about 10 days left to respond to the collections letter and I'm wondering what I should do at this stage. Any advice, knowledge, expertise very welcome. Thanks!! [link] [comments]  | ||||
| Posted: 18 Jun 2019 11:21 AM PDT Is there a section in the Higher Education Act or other then speaks about suing the guarantor either it be the federal or state government? Are there no statues of limitation to sue the loan holder as there is no limitation to sue the borrower? [link] [comments]  | ||||
| Posted: 18 Jun 2019 10:57 AM PDT I'm currently a med student, and will be taking a year out to do a research year outside of North America, in a non-Department of Education approved university. My med school also doesn't let me keep my student status while I'm away. So I wouldn't qualify for an in-school deferment. I've contacted my loan servicer and no other options (forbearance, other means of deferment) allow me to keep my grace period. Since I'll be doing research and will be attached to a university, could I apply for this Graduate Fellowship Deferment? What are the real differences between this and forbearance, as it seems that I have to use up my grace period and my interest accrues in both situations? [link] [comments]  | ||||
| Where can I see the monthly interest for my Navient loans? Posted: 18 Jun 2019 10:20 AM PDT Hey all, as the title suggests, I'm looking for information on the Navient website about how much they are adding each month. I have three loans, two unsubsidized and one subsidizedm all in the REPAYE program, and I am finding different numbers for these loans every month. I think interest is being calculated daily, which is fine, but is there any place to see the line item interest they are adding? Last month, the total interest added to my "Current Value" was about 10% higher than what is was the month before (I just went through re-certification and I'm wondering if this affected something?) [link] [comments]  | ||||
| Grad school loan-one week time Posted: 18 Jun 2019 06:29 AM PDT My girlfriend didn't realize her tuition for next semester was due so early and needs to get a loan within a week. She has good credit and paid for her first year of school but will need loans for the second year. I'm guessing too late to get anything federal but should she be able to get private this quick? [link] [comments]  | ||||
| Why is my extra payment going to the principal and not unpaid interest? Posted: 18 Jun 2019 06:23 AM PDT I've now made 3 extra payments and it's showing that I'm paid ahead on the principal balance even though when I submit the payments it says it will go toward unpaid interest. Am I missing something? [link] [comments]  | ||||
| Posted: 18 Jun 2019 08:28 AM PDT Loan Info - $23,451.50 in Parent Plus loans at a 6.25% avg interest rate. - $20,550.57 in Federal Stafford Loans at a 4.16% avg interest rate Background $42k income before taxes, living at home with minimal expenses and a strict budget. Budget allows for $1750 monthly payment for above loans. Options 1) Refinance Parent Plus Loans and Stafford Loans to get a better interest rate in a shorter time frame 2) Go on the REPAYE Plan for the Stafford Loans while applying the Avalanche method to the high interest Parent Plus Loans, then the same for the Stafford Loans. 3) Go on the Income-Contingent Repayment Plan for PSLF (given my profession) while applying the Avalanche method to the high interest Parent Plus Loans, then the same for the Stafford Loans. Thought process Option 2: Best option because I will be able to take advantage of the benefits of the REPAYE Plan (Low monthly payments and Interest accruing does not capitalize). My monthly payment would start at $158 which would allow me to put $1592 a month towards my parent plus loans. Once finished paying off my parent plus loans in 12-14 months, I would be able to begin the Avalanche method on the Stafford loans in the REPAYE Plan. Only question I have is if I'm able to direct payments to the principal of these Stafford loans and if there's any drawbacks since this is a 20-25 year repayment plan that I will be finishing in 2-3 years. Option 1: Don't get to take advantage of the REPAYE Plan because of the refinancing. No need to discuss what the transfer of ownership of the loans brings, I understand that fully. I would get a better interest rate agreeing to a 5 year payment plan but not sure if the cost savings would be better than Option 2. Option 3: This is an equivalent idea to Option 2 except for the second half. After using the student loan calculator for the Income-Contingent Repayment Plan for PSLF, I would pay $20,008 total over ten years and see a forgiveness amount of $6933 on the Stafford loans. My thinking is that this amount is inaccurate because I would be able to pay off these loans in around three years, so avg cost savings of $2311? This also comes with the burden of having these loans for ten years (Peace of mind, PSLF discontinued, credit score, etc.) Would love to hear everybody's thoughts! *** Disclaimer: When I say "I", it's in reference to my sister. She is not too financially savvy so I'm helping her out here :) [link] [comments]  |
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