$22k left of loans and needing some encouragement & motivating stories Student Loans |
- $22k left of loans and needing some encouragement & motivating stories
- What’s the best way manage my finances so I can tackle my loans but also build a nest egg?
- ECSI will not send me a 'paid in full' letter
- Is it possible to pay too much of my income towards student loans?
- Student Loans in collection, going back to college in two weeks. What do I do, is financial aid a possibility ever again?
- Halp: student debt preventing graduation
- Need some help with student loans before med school
- Did my financial aid office make a mistake?
- Trying to go back to school with a lot of debt at 29... anyone have any advice?
- I don't know if I should take out the subsidized or unsubsidized student loan
- The Master Promissory Note says I need a reference to be a parent but it also says I can't have the same address as them, what should I do?
- May be in trouble. FAFSA didn't cover enough
- Should I pay extra payments to student loans?
- PAYE living abroad
- Paying back student loan overseas
- The right loans?
- Can student loans follow you to another country?
- Clocks ticking! Need help with finding student loans from a private institution.
| $22k left of loans and needing some encouragement & motivating stories Posted: 01 Aug 2019 10:38 AM PDT I graduated with an undergrad degree from a state school with $60k in debt in 2017. I'm down to $22k but running out of steam. I'm projected to pay it off by December 2020, but the constant budgeting and thinking about it wearing down on me. Everyone in my life is debt free and had college paid for and it's hard knowing I've worked harder and have a higher paying job than all of them, yet I can do and buy less. It's especially hard to not have a support group that understands debt mentality. Any words of encouragement? Tell me how great the feeling is to be debt free! I need a small push for this next year and a half and could use some moral support! [link] [comments]  |
| What’s the best way manage my finances so I can tackle my loans but also build a nest egg? Posted: 01 Aug 2019 07:50 PM PDT I have federal loans totaling ~$307k at 6.625%. I make ~135k annually before taxes and live in the state of California. Current recurring expenses would be car insurance (but car is totally paid off), gym membership, and Netflix. I moved back in with my parents so I don't pay for rent, and my living situation will be very stable. I've put myself in a position to aggressively pay down my loans but I'm wondering what I should do with the following: My employer has a 100% match of up to 5% of my salary, am currently contributing 10% (I've been told I should increase this to the 19k max for 2019) I've also got an emergency fund of at least 6 months set aside, but am still setting aside 20% of my pay "just in case." My question is, at this point and under these circumstances, should I reduce the amount I put into my 401k to just enough to take advantage of my employer's match, and stop setting aside that extra 20% to savings just in case and throw all that extra money into my loans? Should I increase my 401k contribution in preparation for the future? Thank you in advance your input! [link] [comments]  |
| ECSI will not send me a 'paid in full' letter Posted: 01 Aug 2019 07:57 PM PDT I paid my ECSI Perkins balance off like the beginning of the year because they're a terrible company with a terrible website, and they still have not sent me a 'paid in full' letter. What should I do? Aren't they required to send me this? [link] [comments]  |
| Is it possible to pay too much of my income towards student loans? Posted: 01 Aug 2019 11:20 PM PDT I've been in repayment for about 8 years until a couple of years ago I've only been able to pay the minimum. I'm finally in a good financial place (good income, homeowner, no other consumer debts), so I am now aggressively trying to pay off my student loans. I have been gradually increasing my monthly excess payments to see what's comfortable for my budget, and now I think I can pay about 40% of my net income towards my loans. I am maxing out my retirement match but am not putting any extra into retirement on a regular basis. I have a good emergency fund. I have $85000 of student loans left, evenly distributed between rates of 2.125%, 2.625%, and 3.549%. I'm allocating my extra payments towards the 3.549 and plan to pay that one off in 8 months at the rate I'm going. As long as I'm paying my bills and living comfortably, is there any downside to putting such a huge chunk of my paycheck towards my loans? I'm doing this in lieu of adding more towards my retirement because I'd rather be debt free (or at least eliminate the highest rate loan). [link] [comments]  |
| Posted: 01 Aug 2019 09:24 PM PDT So, It's the Fall Semester of 2019, I was suppose to go back to college at the start of this year but I've been dealing with numerous personal problems that prevented me. The last semester I was enrolled in any college was Spring Semester in 2017 which ended in May. As of now it's been about two years since I attended a four year college. I was suffering with multiple personal issues and real life problems especially financially that made going to school in my situation impossible if I also hoped to survive. However that was not my last semester by choice either, I was academically dismissed after May 2017 for falling below a 2.0 GPA. So I wouldn't be allowed to return to college until May of 2018. I ended up going to community college the Fall Semester of 2017, but the pressing issues I had in life where still overtaking me. Anyway I ended up just working getting a job in my field. Fast-forward, to 2018 I decided not to return summer semester, and just return Fall 2018 so I could be in the swing of things. I was injured in a pretty bad car accident that just made issues worst, and ended up loosing my job shortly after that. Because of my injuries, and loosing income I didn't return to school in the Fall Semester of 2018, therefore at this point I had missed in total four semesters of college. Summer 2017, Fall 2017, Spring 2018, Summer 2018, and Fall 2018. --Opted to return to school in the first half of 2019, ended up being injured in a second critically damaging car accident, and ended up getting prescribed lots of pain medication, developed a nasty percocet habit due to how much i was prescribed/taking, and my addictive personality. Was stuck in the midst of that habit from February 2019 to June 2019, five months wasted in chemical bliss. So if your keeping up that means I missed Spring 2019, and Summer 2019, I really wanted to go back this past summer. So I'm enrolling now, it's been 7 semesters since going to college, I found out my student loans were in collections. It feel so stupid, I found out when I was in the process of applying for financial aid meaning I'll have to pay out of pocket for classes this semester. So my question is it says my sutdent loans have been in collection since February 26, 2019, and were transfered to the Government, and thta accout closed...in June 2019 smh. Summary --Got Academically Dismissed after 2017 Spring Semester/May 2017 to be exact. Meaning I had to sit out the 2017 Summer Semester, the 2017 Fall Semester, and the 2018 Spring Semester. --I attended community college the 2017 Fall Semester, but withdrew due to the personal & financial problems growing out of control. --When it came time to return to school I was eligible for the summer semester, but opted to work all summer and save up more money plus I landed a job in my career. --Missed seven semesters of school, loans went into collections earlier this year and I never paid attention. So wha tdo I do consildate, rehabillate, can I ever get financial aid again? I'm a junior I only have four semesters left to graduate with my bachelors degree. I'm doing full time to finish up, so I can be done by 2020 Fall Semester. [link] [comments]  |
| Halp: student debt preventing graduation Posted: 01 Aug 2019 02:34 PM PDT Okay. So, 3 years ago I wasn't aware that student loans and federal pell grants are only provided for 2 of 3 semesters in the academic year. I enrolled in a summer semester to finish sooner and was told to fill out a petition and having been given no indication that the petition would fail, I attended that semester. Half-way through the semester I discovered that nothing was going to be covered. I had to spend the next three years saving to pay off the balance. I just recently paid a little less than 7,000 directly to the university. I enrolled in my finial semester and now am finding than while I was paying the university I also had to be paying my student loans. Now because my loans have gone into default, I am not eligible for federal aid until I get my loans out of default, but it looks like that can only happen through rehabilitation which requires 9 consecutive payments. Which means I wouldn't be able to finish my last semester. Also, just to get an idea of where I am financially. That 7,000 was most of my money and I broke my wrist 5 weeks ago and haven't been able to work my job. So, not great. Any thoughts? Is anyone familiar with this? [link] [comments]  |
| Need some help with student loans before med school Posted: 01 Aug 2019 03:34 PM PDT I just graduated in May 2019 with $22k worth of federal direct loans. I have two gap years before medical school (applying in June 2020 to begin September 2021). Do I need to begin paying once my grace period ends in October, or could I be eligible for a forbearance/deferment? I hope to begin working in a lab in February, but I will have no income until then and will be living with my parents. [link] [comments]  |
| Did my financial aid office make a mistake? Posted: 01 Aug 2019 01:56 PM PDT I applied for summer aid to expedite my community college experience. I was offered $812 in a pell grant and my account balance was $0. Once your balance is $0 you can confirm your attendance and lock in your classes. After the fact, the school told me a "mistake" was made and changed the pell grant to $412. I am left with having to pay $1139 by August 12th or my classes are cancelled. An for the fall 2019 semester, I owe $275 because apparently there is a limit to how much i can receive for a semester in unsubsidized loans. To my knowledge I never passed the threshold, and I was given $6k for the year. Even though I am graduating in the fall. So I don't need aid for the spring. Is it possible to allocate the funds for the fall semester from the spring and/or receive more aid. If I could get answers for both questions it would be greatly appreciated. [link] [comments]  |
| Trying to go back to school with a lot of debt at 29... anyone have any advice? Posted: 01 Aug 2019 01:33 PM PDT So as briefly as I can, here's my story: • Typical "gifted and talented" student in high school, graduated from top of class but with no scholarships or plan • Shy, poorly adjusted, no idea of what I wanted to do, just decided on local college where I got into an accelerated program studying physics (I liked math and science), living at home with near-poverty-level parents • Accelerated program basically skipped all gen ed-type classes, left with only upper level physics classes (I was forced to take at least 4 a semester for federal aid to come through, to be a "full time student") • Couldn't keep up, too meek and uninformed to get help, unused to struggling, I bugged out and failed a bunch of classes, left town and worked retail while couch surfing • Worked for like 7 years, meanwhile ignored loan went into default and moved to collections agency • Grew up a lot, learned responsibility, learned about how to adult, learned to communicate, got my own place, etc. Figured out what I want to do with myself • Now back with decent job at a hospital (I want to go into physical therapy) trying to get back into school • Got accepted to return, now have to figure out how to pay for it • Defaulted loan is on rehabilitation program for another few months (10 month plan where I make a small payment every month since March) at which point it will come out of default and school will accept FAFSA again So now my options seem to be only to take out a private student loan if I don't want to wait for the federal loan... what is the best option for that? Is there a most recommended bank to use? Is there other ways I don't know about to get funding? Thank you for advice! [link] [comments]  |
| I don't know if I should take out the subsidized or unsubsidized student loan Posted: 01 Aug 2019 04:14 PM PDT so my tuition for the fall 2019 semester is $3500. for the 2019-2020 financial aid year I am receiving $5742 in a state university grant, and $2045 in a federal pell grant. for this upcoming semester I am receiving $2871 of the state university grant and $1023 of the federal pell grant. for the 2019-2020 financial aid year I was offered a $3500 subsidized loan and a $6000 unsubsidized loan. I know the government pays off the interest in the subsidized loan but it wouldn't be able to cover my tuition. should I take out the unsubsidized loan and pay the rest off with cash? [link] [comments]  |
| Posted: 01 Aug 2019 12:08 PM PDT |
| May be in trouble. FAFSA didn't cover enough Posted: 01 Aug 2019 03:00 PM PDT Hey guys, my girlfriend applied for some student loans way back in December, she was award a good amount and we thought she'd have very little to pay off. However now that tuition shows up online she's about $4000 short. There's no way we can come up with that in a month. Her family will probably not be able to cosign any loans. She might be completely screwed. She's a freshman. Is there anything we can do? [link] [comments]  |
| Should I pay extra payments to student loans? Posted: 01 Aug 2019 01:05 PM PDT With all the talk in the presidential debates about getting rid of student debt, I was wondering if I should go through with my plan of dropping extra payments towards my loans to reduce interest and debt. Should I go through with the extra payments ($10k+) in the next few months, even though there is a chance that all my debt could get wiped clean by 2021? I am wondering if I should wait till next November, see if one of those people fighting for that become president, and if they actually keep true to that. The extra payments wouldn't completely pay off my student loans but they'd reduce by about 25% and also the highest interest loans. [link] [comments]  |
| Posted: 01 Aug 2019 09:34 AM PDT Me and my wife have considering moving abroad if a good job opportunity comes up. I been trying to think of scenarios for our student loans. We both have about 70k combined, mine in PAYE, hers im REPAYE. If we move abroad, I know the IRS lets you take a deduction of I think 97000$, so anything you make under that (im a foreign country) will ne tax free im the US. Would that mean a AGI of 0, and therefore payments of 0 for the student loans? If that's the case, would those years still qualify you for forgiveness? What would be the poverty line for this cases? ( I think is based on the state you live) Anyone with experience on this pleas help! [link] [comments]  |
| Paying back student loan overseas Posted: 01 Aug 2019 09:13 AM PDT Hey everyone! Is anyone here currently repaying their loan from overseas? Just got a job in the US and wondering if you set the repayment up to come out of your pay? Or if you have to make voluntary payments of the required amount each month? [link] [comments]  |
| Posted: 01 Aug 2019 07:09 AM PDT So I've been looking at student loans since I'm technically in my last semester of college( I say technically since I dunno if I want to go to grad school or not), and a few options I think seems good is Discover, Sofi, and Ascent. The only reason I even considered Discover is mainly due to the fact that I dont exactly have someone that could be my cosigner. Would any of these options be viable, or should I look some more? [link] [comments]  |
| Can student loans follow you to another country? Posted: 01 Aug 2019 07:07 AM PDT My wife and I have over $400k in student loans - will end up near $500k. I'm about to finish with an MBA and my wife has 2 master's degrees (both with a 4.0GPA). We both have good jobs in New York City but have no money left after student loan payments and we aren't even paying on all of them yet. We can't afford to have children, can't buy a home, she can't pursue a doctorate like she wants (and deserves), I can't even afford new contact lenses (been wearing these for a year) and I've decided against taking health insurance (fingers crossed). Long story short, she has the chance to get a job in London England. I dont want to sound like we're trying to escape the loans because that's not the goal but can the debt follow us if she takes it? Do we have any options for these loans to survive better? [link] [comments]  |
| Clocks ticking! Need help with finding student loans from a private institution. Posted: 01 Aug 2019 05:52 AM PDT So my boss is from Europe and didn't attend school. His oldest son is attending school, and he's not sure how to go about this. They received as much as they can I think from the government. Any help would be greatly appreciated! They have three weeks! Oh I work for him and am just trying to help him out, his son deserves this. [link] [comments]  |
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