$65.5k loan that has a total repaid $155k Student Loans |
- $65.5k loan that has a total repaid $155k
- Navient - Highest interest rate loan with largest balance has smallest monthly payment
- FAFSA Tuition Remission Debacle
- Graduate Direct Stafford Loan with higher interest than Private Loan?
- FASFA aid for legal students with illegal parents (asking for friend)
- NavSal(Mae)Services text saying I’ve been set to full zero?
- Receiving Student Loan Servicer
- Help!
- Any benefit with student loans??
- What happens to loans not disperesed after graduation?
- Choosing a private loan lender
- College loans
- Move Out or Put More Towards Loans
- Urgently need help- 30k loan from Sallie Mae
- Should I consolidate student loans? 220k in student loans
- Help! We missed the FAFSA deadline!
- Student Loan Forgiveness - yay or nay?
- Student Loan question
- What are your experiences with Lendkey? Taking out a private loan for the first time..feeling nervous
- SAP loan consolidation
- Any of you use the feds borrower defense portal/feedback system?
- Im lost (GRAD PLUS Loan)
- Missed navient payment, won't have the money until next month
- What are your experiences with Lendkey? How is it?
| $65.5k loan that has a total repaid $155k Posted: 30 Jul 2019 04:20 PM PDT Only 360(30 years) payments of $431.22 to pay off loan. Interest rate of 6. 8% This doesn't seem right. Am I doing something wrong? This is for a direct consolidation loan from navinet. Do I have any other options? If I don't pay they'll just put me in default and take an even more agressive rate? [link] [comments]  |
| Navient - Highest interest rate loan with largest balance has smallest monthly payment Posted: 30 Jul 2019 06:36 AM PDT I've always followed my student loans fairly closely, but have mostly just paid the man and been on my way. Looking into it recently, I noticed something really odd that seems really screwy to me. I have 5 separate loans which I make one payment for but a different amount is applied to each loan & they all have different interest rates. - 4 of the 5 loans have a balance of ~$3,300 - 3,700 with interest rates between 4.5 - 5.5% and a monthly payment of $75 85. - The 5th loan has a balance which is $2,000 more than the next highest, with an interest rate of 6% and the monthly payment is $23 less than the next lowest. Isn't this screwy? Is this just Navient sucking as much interest out of me as possible? Is there something I can do about it (other than applying more to the 5th loan, which I do when possible)? ie contacting Navient to change it up. EDIT: Come to find out, the loan in question is for 10 years longer than the others. It is just odd to me that years 1-3 & 5 all have the same 15 year term but year 4 is randomly 25 years AND has the highest interest rate out of all of them. Coincidence? Economy at the time (2006)? [link] [comments]  |
| FAFSA Tuition Remission Debacle Posted: 30 Jul 2019 09:46 PM PDT So I have an unfortunate situation where my father mismanaged some of my college student loans and I only recently overtook the accounts from him, 5 years since I last took money. Once I got the accounts, I owed significantly more than he had told me or I expected. It turns out that he had applied for FAFSA on my behalf prior to my starting a master's program that I had a TA ship with salary and tuition remission (20k). His applying for FAFSA seems to have essentially nullified my tuition remission - FAFSA gave 20k which was basically tuition that year, so the tuition remission didn't kick in. I'm pretty livid and learned a hard lesson about trusting parents in these situations.. This is probably an insanely stupid question but is there anyway to go back and retroactively do something to address the situation? I doubt I could go back and rework things so that the tuition remission paid off the tuition and FAFSA kicked in only beyond tuition remission but I figured I would ask since I'm pretty desperate. [link] [comments]  |
| Graduate Direct Stafford Loan with higher interest than Private Loan? Posted: 30 Jul 2019 08:08 PM PDT Hi everyone, First time posting, but have been lurking. And I want to thank you for your knowledge and reply in advance. I want to preface this by saying this is specifically for Graduate Loans (Direct Stafford Loan/Graduate PLUS) vs Private. I will keep this simple. I keep reading that taking out a federal loan is always better than taking out a private loan. I understand that federal loans have benefits such as income based repayment and deferment options. But under certain conditions wouldn't a private loan with lower interest be better especially since private loans now offer payment plans, deferment until graduation and no prepayment penalty. For example:
Now I know the thought is, if you have these things, why not pay your tuition out of pocket? I'd be looking to build my credit by opening new accounts, as well as, invest the money held to offset the interest from the loans. I just can't wrap my head around why a federal loan would be better in this case. Is it because we don't know what is going to happen in the future and to lower the risk? So are we paying the higher interest in exchange for decreased risk? Thanks again -K [link] [comments]  |
| FASFA aid for legal students with illegal parents (asking for friend) Posted: 30 Jul 2019 12:43 PM PDT Hi all, I hope this is the right place to ask this question, I've tried google but was a little confused by the results and was looking for extra confirmation. A friend of mine is taking college courses again this year, but due to having illegal/undocumented parents, has said that she is ineligible / does not get any financial aid through the fasfa. This is especially challenging as she is on her own and is not receiving any aid from her parents, but due to being under 24 has to include them on the form. Apparently in the past her school's financial aid office was of no help. What does she have to do / how does she properly fill out the form as a non-dependent? Also, will correctly filling out the form bring her parents any trouble? [link] [comments]  |
| NavSal(Mae)Services text saying I’ve been set to full zero? Posted: 30 Jul 2019 07:01 PM PDT I have a $4500 Stanford loan that I've been paying $50/mo on and I always get calls from people about it. Today I got a text saying I was set to "full zero" and was given a number to call. Is this a scam? Am I missing something. Anyone else have this happen? [link] [comments]  |
| Receiving Student Loan Servicer Posted: 30 Jul 2019 06:39 PM PDT I am a first-generation student, so I don't really know who to ask about this, but when do people generally receive information about who their loan servicer is? Through various forums, I found that the loans are typically disbursed around ~10 days before first day of school, but no where do they mention when they received they servicer. [link] [comments]  |
| Posted: 30 Jul 2019 05:57 PM PDT Does anyone have any advice for an incoming college freshman in MN? My parent's credit score is too low for approval by even the federal gov and I really want to avoid asking my grandparents (there's a long backstory and they're very controlling if they help you at all. They're basically EP who are trying to live through/raise me to be what they want, which is the exact opposite of what I want). I have no credit to speak of and have no way of getting the rest of the money by August 15. Please help? [link] [comments]  |
| Any benefit with student loans?? Posted: 30 Jul 2019 05:24 PM PDT Hi, clueless college freshman here! I'm trying to budget for the first year of college, and I can already see I'm going to have some debt by the end of the year. I was wondering if there is any benefit at all to getting any type of student loan, or if I'm better off borrowing the money from family and paying them back later on. I feel like borrowing from family is the best option, but I'm not sure if there's any advantage to taking out a student loan that I'm missing. [link] [comments]  |
| What happens to loans not disperesed after graduation? Posted: 30 Jul 2019 04:08 PM PDT Hello all, I am graduating in December of this year, and have accepted a Fed student loan. The loan covers bother semesters, as my schools Fed loan acceptance site doesn't have an option to only take them for one semester at a time. The amount you accept is simply split between the two semesters evenly. What happens to the other half after I graduate? Is it simply not disbursed and creditied to the account automatically? Is it disbursed to me anyway so that I can go ahead and put it back on? I don't mind either of these two options, I just want to make sure it doesn't get caught in purgatory and I have to pay it back without actually ever receiving the funds. [link] [comments]  |
| Choosing a private loan lender Posted: 30 Jul 2019 09:57 AM PDT I am returning to school this fall after being out for 2 years. I need $5000 more to cover the full year. I'm resigned to taking out a private loan, and I have a plan to hopefully make this the only time, at least until grad school. The problem is, I need a cosigner. My step dad is my last hope and only option, the obvious problem being, he doesn't want to do it. He hasn't outright told me no yet, but I want to do my due diligence with the research to show him I'm serious. There's so many different companies out there, with Sallie Mae dominating every internet search I make. I don't really trust them though. How do I choose the best one? Does anyone have any recommendations for the best? I don't really know what I'm looking for. I hoped to never have tot ale out private loans for my undergrad, but if I ever want to finish, I no longer have a choice. I'll appreciate any help and advice anyone can give me! [link] [comments]  |
| Posted: 30 Jul 2019 02:57 PM PDT Hey all, I'm enrolled in college currently and about to start freshman year in 3 weeks. I discovered today that I need to pay $1,050.50. Is this out of pocket? Why don't the student loans I got cover this, and if they do what do I do about this payment because I don't know when it's due. If you need more information please leave a comment. [link] [comments]  |
| Move Out or Put More Towards Loans Posted: 30 Jul 2019 08:27 AM PDT So, I recently started a new job, where I will be making $57,500/year, up from $41,500. I have about $73,000 of debt. Debt Breakdown: Car Loan - $12,508.48 - 4.21% - Minimum Payment: $250.47 Federal Student Loan - $5,208.60 - Currently 0% - Min Payment: $0 - on REPAYE Private Student Loan - $54,554.19 - 4.67% - Min Payment: $585.31 I'm currently staying at home with my parents commuting 2-3 hours round trip to work. I've been talking to a girl, who I could potentially move in with in August. The rent + utilities would be around $900/month. I could either continue to live at home and put at least $2,500/month to debt or move out next month and pay $1,500/month. Either way, I'm putting more than my minimum towards my debt. Additional information: 25, soon to be 26 female [link] [comments]  |
| Urgently need help- 30k loan from Sallie Mae Posted: 30 Jul 2019 08:21 AM PDT I'm an incoming freshman that chose a private 4-year liberal arts college to attend school. My intended major is political science, and eventually I would like to get my JD and fulfill my dream career of becoming a lawyer. I received a scholarship from the school, but it's only enough to cover half of the tuition, and about 4k in Stafford subsidized and unsubsized loans. To make up for the tuition gap, dorming, and other fees I have to take out a private loan of ~30k (the school hasn't finalized the tuition and fees yet). My cosigner is my grandma with a good credit score, and I got approved from Sallie Mae with an interest of 8.375%. And this is just for the first year. I'm terrified of the debt and that I'll graduate with 90k for just my undergrad, this taking into consideration that I don't live on-campus for the rest of my three years. I'm considering cancelling the loan and going the local community college for two years, then transfering to a cheaper school to finish up my bachelor's degree. This totally crushes me because I worked super hard in high school to get admitted into nice schools and I've wanted to go to college for so long, but I don't know if it's worth the crushing debt. I have until Thursday to cancel without penalty. What should I do? [link] [comments]  |
| Should I consolidate student loans? 220k in student loans Posted: 30 Jul 2019 08:09 AM PDT I recently graduated from school and have about 220K in student loans. All with Navient ranging from 5.3%-7%. I am under the impression that consolidating all my loans to a different bank at a lower rate would be a better option. Looking for reasons that it may be a bad idea or other alternatives? Would consolidating my student loans exclude me from any loan forgiveness in the future if a democratic candidate won the next election? (Not banking on that but would also like to know if I could be negatively affected) I have read that I can pick and choose which loans to consolidate but since consolidating should get me lower than 5.3% is there any downside to doing that? [link] [comments]  |
| Help! We missed the FAFSA deadline! Posted: 30 Jul 2019 05:12 PM PDT Dammit. I thought we submitted the form online back in January but we didn't. what happens now? [link] [comments]  |
| Student Loan Forgiveness - yay or nay? Posted: 30 Jul 2019 11:14 AM PDT I wanted to bring this debate topic here to hear out people's opinions and thoughts on the topic. I know this will continue to be a hot topic and will especially get more in the spotlight as election races ramp up. Myself and friends recently debated this on our pod and below are some high-level points for either side: For Total Loan Forgiveness Increases GDP each year, early estimates are 100bil/per E. Warren's tax on families with income above 50mil/year eliminates the debt and pays it forward with free public tutition Money to forgive can come from other federal budgets - looking at you military spending Interest rate elimination - this is one of the largest reason people can't dig out from the debt because they can't even touch the principal of a loan Against Total Loan Forgiveness A small fraction of people struggle with actually making payments - saying 44million americans have SL debt is false advertising - yes that many people have it, no, not that many people are struggling Current loan assistance plans in place - forgiveness for public service, income based payments Fairness - if a tax comes across the nation to help forgiveness, how is it fair to make someone who paid their way/didn't incur the debt in the first place, pay for other people who had a choice what kind of debt they brought on themselves Fiscal responsibility - don't go to a school that you can't afford, be smart with your money for repayment I know this is controversial. And if this isn't the right place for this topic, mods please delete! But, I wanted to hear other's thoughts and opinions. During our debate I fought for the side of more loan forgiveness and some of the information and viewpoints I found really were eye-opening. If you're curious to listen to the full episode, check it on either Spotify or Apple -- Please do not feel like you have to listen, still want to discuss it here! [link] [comments]  |
| Posted: 30 Jul 2019 11:12 AM PDT Hey guys I have a question, does student loan accrue interest till the the principal is finally paid of or die it have a time when the interest stops accruing? For instance if you are a freshman and you got some loan, will the loan accrue interest till you graduate or will it only accrue during your freshman year? Also, can you avoid capitalized interest by paying monthly interest on both subsidized and unsubsidized loan? Lastly, if get student loan each school year, how are the interest calculated, can you pay the interest in one payment each month? Sorry I'm a Freshman. So confused, the FAFSA loan counseling is difficult to comprehend. [link] [comments]  |
| Posted: 30 Jul 2019 07:15 AM PDT Hi everyone. Unfortunately, I maxed out my financial aid and have no other way of paying for university. I just have one more year left to graduate; in the past I have taken out federal loans but for one year I need to take out a private loan. Does anyone have any experience with Lendkey? I was thinking about contacting them. On my university's website, they seem to have the lowest interest rate. This is my first time dealing with this kind of stuff so I'm trying to do a lot of research; I don't want to mess up and ruin my life later on. I would appreciate any help or advice! Thank you [link] [comments]  |
| Posted: 30 Jul 2019 10:35 AM PDT Just got a call from a company called SAP. They said they can consolidate my nelnet loans and make my $20,500 loan go down to $13000 with monthly payments over 10 years. Anybody heard or used this company before? Seems legit but still too good to be true [link] [comments]  |
| Any of you use the feds borrower defense portal/feedback system? Posted: 30 Jul 2019 04:16 AM PDT The feds have hired a vendor to revamp all their websites. Right now they are looking for a couple of borrowers to provide feedback on the existing borrower defense pages. I found one borrower but they need a couple more. Would be a phone call..probably an hour or less. Your info would remain anonymous. If you are willing please pm me your email address so I can do an introduction. Keep in mind that this is feedback on the web pages not the process itself and the vendor has no control over what's been going on with borrower defense so this is NOT an opportunity to vent about those shenanigans. But it is an opportunity to make the process a little better for everyone once the borrower defense mischief has been managed. [link] [comments]  |
| Posted: 30 Jul 2019 08:31 AM PDT I am about to start med school in a week and took out a Direct Loan Unsubsidized and a Direct Loan Grad Plus to cover my COA. The way it breaks down is that the unsubsidized loan covers my tuition and the grad plus loan is for living expenses. I thouhght the money from the grad plus loan would be dispersed by now but is that not how it works? [link] [comments]  |
| Missed navient payment, won't have the money until next month Posted: 30 Jul 2019 07:33 AM PDT I was told that you have like 6 months before the student loan is considered to be in default and until then you don't recieve any late fees. Anyways, I just got a call from them. anyone have experience with this? [link] [comments]  |
| What are your experiences with Lendkey? How is it? Posted: 30 Jul 2019 07:04 AM PDT Hi everyone. Unfortunately, I maxed out my financial aid and have no other way of paying for university. I just have one more year left to graduate; in the past I have taken out federal loans but for one year I need to take out a private loan. Does anyone have any experience with Lendkey? I was thinking about contacting them. On my university's website, they seem to have the lowest interest rate. This is my first time dealing with this kind of stuff so I'm trying to do a lot of research; I don't want to mess up and fuck up my life later on. I would appreciate any help or advice! Thank you [link] [comments]  |
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