Denied! Can't pay off student loan because loan agency can't accept foreign currency! Student Loans |
- Denied! Can't pay off student loan because loan agency can't accept foreign currency!
- Is it possible to get back into school?
- I owe a TON of student loans but I want to go to grad school
- My employer just got a garnishment request *Panic*
- Taking on big loans for a Masters, is it worth it?
- I need student loans, the ones I get through FAFSA won’t cover it, and my parents can’t co-sign. I need some direction please.
- Refinance - Fed Rate Cut
- My heart is in the right place for going back for another Master's, but I am already sick to my stomach over the mounting debt.
- Ungrouping Nelnet Loans
- Denied Student Loans - Options?
| Denied! Can't pay off student loan because loan agency can't accept foreign currency! Posted: 29 Jul 2019 04:18 PM PDT I am fortunate enough to have a great career and have been just paying of my student loans over the past 6 years. In the meantime, I moved to Europe and got back on my financial feet. I saved up to pay of the full balance of my remaining student loans (13,000 USD). Called the loan agency up and asked them what is the best way to pay this loan off. They said they will take a check or debit. I told them that I don't live in the USA anymore. They said they don't take foreign money and I did laugh about this. The loan agency doesn't take my local currency that is exchanged into USD. Hence they get USD. After a few more minutes of talking, it all comes down to that I need to pay my loans off by opening a US bank account. That is not acceptable as you need to have an address in the US and also be present to open an account. How backwards is this? I thought this was the 21st century and the age of the internet. Money is money, and even if I have to pay an exchange rate fee That money can be in multiple forms. I have this money just sitting in my bank ready to pay off this student loan that the agency doesn't recognize foreign currency. I called my local bank and got more info about how they would help me. I could do a wire transfer to an account or they could take my IBAN (international bank account number). I called them back and spoke to another person and was told that I could use my debit card, but having a foreign address caused issues. I asked them if they had an IBAN, but they had no idea what that was. I want to pay the loan off, but have truly found this experience archaic and eye opening. USA bank system is a complete mess. You get charged $100 just to have a bank account. A loan agency doesn't even have a payment program for people who live out of country. What to do now? Do I default on my loan? Wait until I am back in the US to open a bank account? Stick the money into an investment fund? [link] [comments]  |
| Is it possible to get back into school? Posted: 29 Jul 2019 11:37 AM PDT I have accrued debt getting my B.A. in English and I'm having a difficult time finding steady work. A friend of a friend went to an accelerated Nurse Practitioner program and got out in a little over a year and she's now making a six-figure salary using her newfound medical degree. I deferred my loans and then ultimately defaulted due to my inability to find a keep a steady job and be able to live and pay back my loans. I feel like I'm in a chicken and the egg conundrum: I can't go to school because I don't have the money to pay them back and I won't have the money to pay them back if I can't find a steady income stream. I just turned 40 and I feel like I'm really spinning in the wind here. Can anyone give some advice? Thanks in advance-I know it takes time to read and formulate a thoughtful written response. [link] [comments]  |
| I owe a TON of student loans but I want to go to grad school Posted: 29 Jul 2019 11:14 PM PDT I come from a low-income family, but I really want to go to grad school! I already owe almost 100k in undergrad loans (I took a semester off due to medical reasons). My major is Social Work, which I understand won't generate a large income to pay back these loans. But, I am very passionate about pursuing this career. I am just looking for advice as to whether or not I should pursue grad school in this field and if it will pay off in the end. I have really been stressing about money lately and would just like some other opinions regarding my loans and if grad school is worth it or if I should be a BSW once I graduate and find jobs from there? [link] [comments]  |
| My employer just got a garnishment request *Panic* Posted: 29 Jul 2019 01:12 PM PDT Hi all. I graduated about three years ago and after months of searching I finally landed a job in my field but it was practically slave wages -- I took it just for the experience and had been living paycheck to paycheck very literally with absolutely nothing to spare at the end of the month. I know it wasn't the wisest decision but after rent and utilities and car payment -- student loan payments did not get made. I found a better job last June and my car is months off from being paid off and I had planned to start negotiating payments when that was done. Today my employer received a verification of employment for me and it was from a collector looking to garnish my wages for student debt. I read that they can take up to 15 percent and I ABSOLUTELY cannot afford that. I cannot. At all. Afford to lose that much per month. Can someone please help me with any steps I can take to avoid this? Negotiate the rate or anything? Thank you so much. [link] [comments]  |
| Taking on big loans for a Masters, is it worth it? Posted: 29 Jul 2019 10:50 PM PDT Hey everyone, I managed to escape college debt so far in live because I am a New Yorker and we there are a lot of incentives to attend the CUNY system. I have spent the last 3 years living and working in China, and have decided this year that I want to go back for my Masters. I got into Tuft's Fletcher School and was super psyched in going, but have recently begun to really regret this decision once thinking harder about the price tag. Even after the scholarship offered by Tufts, a Federal loan, and personal contributions I still need 30k a year to attend. To add to this I don't have a cosigner because all of my family members are buying property themselves, so this narrows down my options a lot. I have only one standing offer for the 30k in a deferred plan I'm getting 8%. This means that I would have well over 100k in debt after my two years getting my MA in a liberal studies, that would hopefully lead to a job that would be able to pay this off, but seeing some alumni messages on Facebook make me a bit worried.. So my question is, should I just back out of this MA program, lose my deposit, find a job in NYC and just try to save money and reapply and see if I can get a better offer next year? Or do I take on this large amount of debt and bet on the employment statistics of the University? [link] [comments]  |
| Posted: 29 Jul 2019 12:57 PM PDT I also need to live on campus and am a returning student after taking a year off which I thought I wouldn't come back from because I did extremely poorly before (me being a stupid kid with mixed up priorities and poor work ethic, not really that I'm dumb) and was just going to quit. Anyway, I'm going back, have to live on campus, and need another $15,000 in loans for the year. Edit: I've considered community college, but my family might be moving so I'll have to move out anyway and overall it seems better to go back to the full university where they have already readmitted me despite my low gpa. And I intend to get a job up there and had a job before (few weeks ago) that I quick because I had to travel before school then can't have because the school is too far away. So basically I am between jobs. Trust me, I've researched and going back to the four year is better since my financial aid won't pay for community college either. [link] [comments]  |
| Posted: 29 Jul 2019 01:36 PM PDT I know we haven't had a rate cut in awhile, but I am looking at paying one significant loan off in the near future, with the hopes of refinancing some federal ones that will ultimately replace that monthly payment. (Grad Plus loans are the worst). Does anybody know if/how this week's projected fed rate cut will affect refinance rates for student loans? I am slowly trying to get a handle on the best way to tackle these. Thanks! [link] [comments]  |
| Posted: 29 Jul 2019 06:27 PM PDT I've had no family or financial support throughout this so I am just trying to best I can. Best abridged version: always wanted to be in healthcare, hated how health insurance worked so went on to college with no clue what I was doing. Got experience as a CNA and home health care; validated I wanted to do so, but thought I would never get into NP or PA program, so I should get my Master's in Public Health and work on quality improvement initiatives. I am specifically passionate about mental health and incorporating better access into primary care; my father committed suicide when I was 12 and I hvae struggled with depression most of my life (I am 28). Anyway, I finished my MPH last year, and almost finished my first semester of the Accelerated MSN at Emory to become a Family Nurse Practitioner. Is it intense? Absolutely. Do I feel like I am in the right field? Definitely. Every day I think "wow, I am so fortunate to be here; what an excellent program". But with my BA degrees and MPH (from Boston University-another immensely expensive school), my stomach is constantly in knots. This was the first time I've had to take out a private loan- my mom had to co-sign (reluctantly) and she gave me such a hard time. This is only one of 8 semesters; my student loan debt is already well over 100k. What do I do? I can't fathom leaving this but it just seems like my loans will eat me alive. I keep getting told what a great earning potential NP's have; yes I know, but I also have a shitttooonnn of other debt and no support. [link] [comments]  |
| Posted: 29 Jul 2019 02:08 PM PDT So last night I was on the Nelnet website trying to figure out if I could ever actually repay my loans. I want to start sending extra money aside my minimum due. On their website it states you can have your loans ungrouped and specify which loans the extra money should be applied to. Currently, my loans are in 2 large loan groups comprised of several individual loans. My goal is to have extra money applied to the smallest of the individual loan until it's paid off, and then target the next smallest loan, etc (snowball method). Has anyone had luck with getting them to ungroup their loans? I called and spoke to a supervisor and they said I'd have to call in and give them my special instructions every time I wanted to pay extra towards a specific loan. Conversely, has anyone been able to pay off individual loans without having them ungrouped? [link] [comments]  |
| Denied Student Loans - Options? Posted: 28 Jul 2019 04:28 PM PDT I'll give the 'short' version: I went to a private college my freshman year of school. I was offered a large amount of scholarship money, enough to cover about half of tuition, but I wasn't offered anything through FASFA. The rest of the tuition was paid through a Parent PLUS loan, which my family had no problem getting. After having some bad experiences at that school, I returned home and attended community college. For the past two years, I applied for financial aid but, again, I never received anything through FASFA. I paid for school by accepting the government offered subsidized and unsubsidized loans. Each year they offered me 5,500 total, and the cost of the school was about 3,000 total so it worked out. Now I'm graduating with my associate's degree in two weeks and I'm realizing I have no way to affording going back to 4-year university to finish out my bachelor's. (I know, it sounds really last minute to realize this now, but I've never had any problem with loan/paying for school in the past.) Again, I was offered 5,500 in subsidized and unsubsidized loans, but that was all I was offered. Again, nothing through FASFA and no scholarships through the school itself. My family and I tried applying for a Parent PLUS loan for this year, like we did my freshman year, but we were denied. I tried applying for a private loan on my own through PNC and through another local credit union but was denied both times because I have no credit history (never had a credit card, never had a loan aside from the school loans). I tried applying for a private loan with my father as co-signer and was denied as well. I tried calling the school and asking for my financial aid package to be re-examined/appealed, but I was told no. The school says they only offer scholarships to students who have at least 15 credits with them, meaning I would have to complete a semester before I'd even be eligible to receive a scholarship. If anyone has been in a similar situation or knows of different avenues I can explore, it would be so very helpful! More info: - Each school I'm looking at attending is in-state and is a state school, but there aren't any 4-year schools in my area that I would be able to commute to, meaning I would have to live on campus. [link] [comments]  |
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