My Great Lakes advice to you all! Student Loans |
- My Great Lakes advice to you all!
- You didn't miss the FAFSA deadline -- but you should still file right away!
- Forgot to fill out FAFSA.
- Least amount of interest: monthly, biweekly, or weekly payments?
- How to get out of default
- Switching from standard repayment to extended repayment plan
- Problem with Mohela
- Refinance Options for Closed School
- How easy is it to get a student loan?
- Going back to school full time next month, trying to decide what to do about my loans
- Call asking for me by name, no student loans
- Don't have a cosigner, have $2000 that I still need to get covered, help!
- Federal Loan Aggregate Limit—Did I technically reach it or do I have some left?
- Is it worth it to go $55,000 in debt?
- Private Loans without Cosigner
- Filling out FAFSA for the first time. Home owner questions.
- Private loan shopping!
- NelNet (my loan service provider) is still “processing” my payment five days after I submitted the payment.
- Can I use my refund to pay for classes the aid didn't cover?
| My Great Lakes advice to you all! Posted: 08 Jul 2019 11:22 AM PDT Something I just learned today that was able to do help me out big time! As you know if you have Great Lakes loans your monthly payment will go towards fees first and then any accrued interest and whatever is remaining goes to principle. If you are making more than your monthly payment, hopefully you are, then you should be paid ahead. If you are paid ahead you can call the customer service number (1-800-236-4300) and have your monthly payment reevaluated! This is something you can't do online, the only way to do it is to call them (or email I suppose) and ask for a revaluation. My current monthly payment is $425 and I have been paying $1,000 a month (therefore only about $600 of my $1,000 goes towards the loan I want) so I am now $6,800 paid ahead. That $425 is distributed "evenly" in terms of principle value across all 6 of my loans (with this method I have already paid off one high interest loan). With the revaluation my monthly required payment is expected to drop to $270. This is an extra $155 a month I can put towards my highest interest loan. I have my excess payment preference set to my highest interest (obviously) loan and have been "walking down" my loans. Now I am looking at $750 a month going to my high interest loan instead of $600. Only 6 more to go and they are melting quick now! Important Note: This strategy really only works if you are paid ahead and are planning on paying more than your required monthly payment. Essentially it allows you to reduce your required minimum payment for each loan and have a higher percentage of your payment go towards the loan you want! [link] [comments]  |
| You didn't miss the FAFSA deadline -- but you should still file right away! Posted: 08 Jul 2019 07:11 PM PDT We've had quite a few people come here (as we do every July) worried that they've missed the June 30th deadline to submit the FAFSA and are now hosed. Fear not. The June 30th deadline that just passed was for last school year; the 2018-19 academic year. If you need aid for the upcoming 2019-20 academic year, you have until the end of the academic year -- June 30, 2020 -- to submit the FAFSA. FAFSA is the Free Application for Federal Student Aid. It is the only way to get federal student aid (which includes both grants and loans). Every college student should submit it every year, even if you aren't planning on needing federal aid or don't think you're eligible. First, you might be wrong and find out that you are eligible for aid. Second, you should at least be aware of what aid you're entitled to before you turn it down. And third, many states and schools piggyback off the FAFSA to award their own aid packages--so you should be aware of what state and school aid you're eligible for too. Submitting the FAFSA is free and does not obligate you to accept any of the aid that you are offered. If you don't want it, then don't accept it. If you want only part of your aid package, then only accept that portion. Talk to your school's financial aid office if you have questions about that process. Federal aid is available from standing appropriations by Congress and doesn't "run out" in the traditional sense. (This is why you can submit the FAFSA at any time during the school year and still get the same federal aid as you would at any other time.) However, states and schools have different, earlier deadlines for their aid programs. Read more about them here. Even if your state/school's aid deadline hasn't passed yet, you should still submit the FAFSA right away because most of those programs have a set amount of aid appropriated for each academic year. For those programs, when the funding is all disbursed, then it's gone, even if there are still eligible students who filed before the deadline. Don't be left out--get the aid you're entitled to by submitting the FAFSA now. [link] [comments]  |
| Posted: 08 Jul 2019 06:42 PM PDT Hello all, i forgot to fill out my FAFSA for the 2019-2020 school year. The deadline was June 30th (today is July 8th) but i was wondering if i were to submit it would i be eligible to get anything? [link] [comments]  |
| Least amount of interest: monthly, biweekly, or weekly payments? Posted: 08 Jul 2019 05:38 PM PDT Hi everyone, would it be more I be paying less interest if I start making more frequent/smaller payments towards my student loans or does it not matter? I've been trying to research it but I'm coming up with mixed answers. Thanks! [link] [comments]  |
| Posted: 08 Jul 2019 05:30 PM PDT I got cancer and was out of commission for 5 years. This last year I was finally able to work but when I claimed my taxes it reset the timeframe I can be sued. I got a letter from north star that says they will settle my loan for x amount of money. Is this a real thing and does anyone have any experience with this ? [link] [comments]  |
| Switching from standard repayment to extended repayment plan Posted: 08 Jul 2019 10:16 AM PDT I am considering switching from standard repayment plan to extended repayment plan. When I first started paying I went with standard repayment as it meant less interest and at the very least I would be done in 10 years. However, after about a year of only paying the minimum I became much more aggressive on paying down loans faster. I have consistently been paying minimum plus an extra $1200 a month targeted to my highest interest loan. I was planning on continuing to pay the exact same amount I am doing now but switching to extended plan so my minimum payment is less and all the extra can be targeted towards highest interest loan. I believe this would pay them off faster than staying my current course? Also wasn't sure how switching plans worked. I have been on standard for about 3 years. When I switch does it start over at 25 years with existing balance or graded somehow because I have already been paying? Also wondering if there is anything else I am not considering when switching plans. Main drawback I can see is not following through with paying the extra but I don't think that will be a problem for me. Started with 6 loans, have 5 loans left, all federal and am with fedloan servicing. [link] [comments]  |
| Posted: 08 Jul 2019 06:21 AM PDT My wife refinanced using Mohela. We needed to update the auto payment account and we called to do so. The information was entered incorrectly, we noticed and we called again - this time it was inputted correctly and the money was withdrawn. A week later, we were debited again. We called and the agent apologized and refunded the second debit. Three days after that we received an email notice stating we were 12 days delinquent on the account despite the money being withdrawn from our checking on the 26th. My wife called today and was told she never paid, and we would have to pay again along with a fee. I have no idea what to do at this point. They are attempting to charge us twice for the month. [link] [comments]  |
| Refinance Options for Closed School Posted: 08 Jul 2019 03:09 PM PDT Trying to refinance my loans but have had some issue finding a financial institution that will do so as my loans are from a school which is no longer operating. Thanks in advance for any help. [link] [comments]  |
| How easy is it to get a student loan? Posted: 08 Jul 2019 03:05 PM PDT How easy is it to get a student loan? And simply must enroll at my local jc? [link] [comments]  |
| Going back to school full time next month, trying to decide what to do about my loans Posted: 08 Jul 2019 10:59 AM PDT I'll be leaving the workforce to go to grad school full time. I'll be going on an assistantship, meaning my tuition is covered and I'll have a stipend, but I'll be making much less than my salary Called my private loan provider today about my options concerning payments. I was hoping I could make interest-only payments, but I found out that my only options are to either defer the payment entirely (meaning the interest will climb) or just continue making the regular payments It's a tough spot to be in. The payments are $350 a month, and with rent and other bills, it'll be pretty tight financially if I decide to keep making the regular payments. On the other hand, it's not a good idea to let the interest balloon up over the two years I'll be in school Just looking for feedback or seeing if anyone else has been in a similar situation and what you did And before anyone says "Get another job", I'll already be working 20 hours a week and going to school full time. I'm not trying to add more to my load on top of that [link] [comments]  |
| Call asking for me by name, no student loans Posted: 08 Jul 2019 08:45 AM PDT So a few minutes ago I received a call and they asked for me by name. I thought it was one of my wedding vendors so I said it was me. Then he told me he was calling about my student loans, which I don't have. It has to be a scammer, but how did they get my name? I've received plenty of the automated calls but this was a real person. When I said I didn't have any they hung up. Should I be worried if someone took some out in my name? Or was this just a better scammer than the rest? [link] [comments]  |
| Don't have a cosigner, have $2000 that I still need to get covered, help! Posted: 08 Jul 2019 01:56 PM PDT What do I do? I've tried several places and I have somewhat fair credit (676 after these inquiries, I'm almost 19.) My parents both have lower credit scores than me and I desperately need to cover this last 2000 after federal loans, grants, and scholarships. This is the bare minimum before books, supplies or anything. I'm an incoming freshman at Marshall University ;-; I'm not begging for money I just need advice [link] [comments]  |
| Federal Loan Aggregate Limit—Did I technically reach it or do I have some left? Posted: 08 Jul 2019 01:35 PM PDT I was wondering if anyone had experience with this, as it is stressing me out and I won't know for sure for a week. So for my first 3-ish years of school, my mom was employed and could apply for a PLUS loan and she did once. But during my third year, she got sick, was in and out of the hospital, and ended up falling behind on bills and essentially ruininng her credit. Now she can't apply for a PLUS loan and my EFC from the fafsa is 0. And last year, I got an extra unsub loan because she was denied a PLUS loan. On FSA, it says the aggregate loan limit is $31,000 for dependent students or $57,500 for dependent students whose parents can't apply for a PLUS loan. My loan total right now is $31,000. So my question is, will my aggregate loan limit be $57,500 now since my mom can't apply for PLUS even though she could my first few years? There is no real explanation given for students who have a dramatic financial change mid-education. I'm looking at 2 more years in school and I really need federal loans for them, especially since my mom can't help at all. [link] [comments]  |
| Is it worth it to go $55,000 in debt? Posted: 08 Jul 2019 12:49 PM PDT I'm usually just a lurker here but today I decided to change that and ask for the help of internet stranger! So I got accepted to a school in the UK, but it's going to be 55,000 in total. I know I can go the community path and just transfer to a UC (I'm based in California) and pay half of that. It's also an intensive program so I would be able to get my degree in 2 years as long as I stay over the summers. I really would like to study in the UK but I just don't know if it's worth it. Thanks in advance for all your help and for searching on new! :) [link] [comments]  |
| Private Loans without Cosigner Posted: 08 Jul 2019 07:15 AM PDT Not used to posting, apologies for horrible formatting. The school I want to go to is an international school. I know FAFSA works with certain schools, but my program (Nursing) is ineligible for federal aid or loans for international schools regardless of the school. I just applied for a Sallie Mae loan and it says I need a cosigner. I can't get a cosigner. My mother's credit is garbage because of our financial situation, my father is abusive and disabled, and I don't have any other family able to cosign. Even if my father didn't hate me, he'd never cosign my loan because he and my mom are trying to move because the city is seizing our house. I have good credit (719 after Sallie Mae's inquiry, 721 before), but not a long enough history. I know there's a way to appeal Sallie Mae, but it keeps taking me to the main menu when I call the appeal hotline. High interest rates aren't an issue at this point, I just need to get out of the situation I'm in. The only family I have that wants to help me is overseas, so they can't cosign the loans. Is there anything at all that I can do? Only Sallie Mae and Discover work with my university that I've found so far. I'm trying to borrow 18.5k for tuition. It's the cheapest I can get over there, and a degree here can't be used there. I applied for scholarships but wasn't awarded any of them. Is there any possible way to get Sallie Mae to approve me? Thank you for any help in advance. [link] [comments]  |
| Filling out FAFSA for the first time. Home owner questions. Posted: 08 Jul 2019 10:01 AM PDT Alright so I'm doing the FAFSA application and the questions are slim about living situations or assets. I am 24 am a home owner. Now I don't see or know if that makes a difference but it seems like it should. Is there a question for current debt due to mortgage or my houses cost that I am just missing? I called the help line and she wasn't very helpful. Just helped me verify my account for some reason and got off the phone. [link] [comments]  |
| Posted: 08 Jul 2019 09:44 AM PDT I'm at my last resort for taking out a loan for school and have to do a private loan. One of my parents is willing to co-sign if needed. Cost of my senior year in nursing school is $14,000 this year so I'm looking for a loan to cover that. I'm a first gen student and don't have anyone to guide me through this process so it's been difficult for me! Any tips on finding a loan? I need it to be deferred until after school and I don't know how to choose the terms for loans or how to find a low interest rate. Thank you so much! (My loans from previous years are with CitizensOne but I'm not a fan of their interest rates.) [link] [comments]  |
| Posted: 08 Jul 2019 07:02 AM PDT I am a recent graduate and I wanted to start paying off loans ASAP, even though my grace period ends January 2020. For one of my loan groupings I payed it off in full July 3rd, NelNet said it would be taken out of my account July 4th. It's July 8th and the payment is still being "processed", and not only that, they are still charging me interest when all of the money is already out of my account. I am going to call customer service soon but has anyone shared this experience before? Will the interest between me paying and now be forgiven when processed? [link] [comments]  |
| Can I use my refund to pay for classes the aid didn't cover? Posted: 08 Jul 2019 02:28 AM PDT (I'll be taking 3 classes next semester and apparently only 1 is covered by aid. Can I use my refund for the other 2 classes or is that a no-go) [link] [comments]  |
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