- I have about $40,000 in a parent plus loan that my parents expect me to pay off as well about another $40,000 in a federal loan. Right now they are both being deferred until I graduate this year. Once I graduate will I have to start paying them both off simultaneously??
- Studying for a postgrad degree abroad for one year soon. What are the best student loans to apply for?
- Recent graduate, how much should I really be paying monthly?
- How to go about getting student loans after scholarships and federal aid? Need help ASAP
- 154k in loans, wondering how to go about it
- Can’t find student loans?
- Medical trouble, taking a leave from grad school
- Does paying student loan interest while in school help your credit score?
- REPAYE interest subsidy question - what does 3 years mean?
- Should I max out my student loans if I know I will be forgiven as a teacher?
- Response from my Congressman
- Got $12,000 of private student loans in my student account when I never applied for any???!
- How do you find out what/where someone had student loans through if they pass away?
- Student Loan Debt/Legal guides??
- Refinancing with back-to-school deferment?
- Income/PAYE/IBR & Married Filing Separate/Joint
- Grad School Loans
- Can someone explain to me from the perspective of a student how could one justify purchasing a low cost cellphone out of the student loan refund as a bad idea? What’s your thoughts?
- Complete noob, want to make sure I don't do something dumb
- Trying to Adult with Student Loan Debt
- Student loan forgiveness
| Posted: 29 Aug 2019 05:45 PM PDT |
| Posted: 29 Aug 2019 12:24 PM PDT |
| Recent graduate, how much should I really be paying monthly? Posted: 29 Aug 2019 10:23 PM PDT Context- I worked my butt off in high school and college to graduate with my associates for free before graduating high school and then with my bachelors in two years to take out as little loans as possible. I worked an AmeriCorps service year and a few side jobs to pay my rent and other costs, and even though it wasn't much I do get an education award to throw at my loans. After graduating I have approx $14,000 in loans with either 4.9 or 5.6 % apr (I'm planning on using the AmeriCorps award to cover the $2600 one at 5.6) and Im starting a full time position making $40,000 a year paying $650 a month for rent. I did the loan repayment calculation at my college and it suggested paying $250 a month for 120 months. ...What?? Why does that seem so off to me? I feel like that is way too long to be paying. Should I try to pay way more than that a month? I'm torn because I also want to enjoy life and not feel like I'm doing the equivalent of "living for the weekend" by throwing all of my money at my loans 24/7. What would be a good balance? [link] [comments]  |
| How to go about getting student loans after scholarships and federal aid? Need help ASAP Posted: 29 Aug 2019 02:45 PM PDT Hey everyone, I am posting as a concerned older sister. My younger sister is getting ready to go off to university out of state. We just went through her orientation and everything, so after being denied twice for loans has scared her and left her losing hope. To start off, we don't have a great background as far as financially. My mom is a single mom, and struggling with her own student debt. She is self employed and not making much right now as she just finished school and is working towards getting licensed in her field of work. We were originally hoping for scholarships to cover her, and my sister being the hard working girl she is did acquire scholarships. She has her tuition pretty much paid for. Problem is room and board. She needs about 4K her first trimester, so close to 15-16k for her first year. After that she will have school paid for. She applied for a student loan for 15k through WellsFargo. Rejected. She went on earnest. Rejected. We were using our grandparents as co-signers since they run their own business and do make 100k+ a year. They were rejected because they didn't make enough income? We think they reported wrong, so we are not wanting to give up. However, my sister is freaked out. She is supposed to move in less than a month, and she has until November to pay. We don't really know what to do because she is really the first one in the family to go to University. We are checking as many resources as we can. How can we get the money for her? We are all terrified as this is her dream, she has gone through a lot to get to where she is. All I see are resources for lowering rates and stuff, not actual money to borrow for school. We really are confused at this point, but I haven't given up hope yet. All we need is money for room and board. For the most part school will be paid for. Where do we go from here? What do we do? [link] [comments]  |
| 154k in loans, wondering how to go about it Posted: 29 Aug 2019 07:51 PM PDT Hello r/studentloans. I have been a lurker for quite some time just waiting for my turn to ask for advice so here I am. I have $154,907 in federal loans with an overall interest rate of 5.9% from undergraduate and graduate school. I am currently still in graduate school and will be for roughly 3-4 more years (so my loans will be in deferment) however I am ready to begin making payments. My question is how do I go about this? I will have roughly $3-4k every month disposable to throw at these loans. Do I consolidate the loans and go with that 5.9%? Do I pay the higher interest ones off first? Do I refinance? I have seen several options coming from other posts however I am hoping to get a more in depth analysis of my specific loans. Any help is appreciated. [link] [comments]  |
| Posted: 29 Aug 2019 05:37 PM PDT I'm a 21 year old male with a poor credit history, my family will not help me with college expenses, including co-signing. After all federal aid, I'm still short about 5000$ for the year, so far no one has accepted me for private loans, what are my options? A job is not really feasible for me at this time, I'm taking 19 credit hours of homework intensive classes. [link] [comments]  |
| Medical trouble, taking a leave from grad school Posted: 29 Aug 2019 07:17 PM PDT I know how this subreddit works and I know I'll get raked over the coals for having taken private loans to get through undergrad. I know I shouldn't have done it, I did it anyway cuz I was young and stupid, I plan to tackle them after I graduate using the avalanche method and have been paying down the interest while in school. We can save the comments about how dumb I am for taking private loans at all, there's nothing I don't already know. The problem I am facing now is that I am most likely going to need to take a leave of absence from my graduate program to sort out some medical problems I have been dealing with. Accommodation from the school will only take the form of preventing injury due to my condition, so to stay in good academic standing, the leave is looking like my best option. My question is how do I approach keeping the private loans from beating my door down for payments while I am not receiving my graduate stipend? Forbearance? Does anyone have experience with a similar situation? Also if anyone has faced similar circumstances and has had to find a job that is 100% remote work I would appreciate hearing about it. [link] [comments]  |
| Does paying student loan interest while in school help your credit score? Posted: 29 Aug 2019 09:06 PM PDT I'm currently an undergrad student so of course I don't pay on loans while in school. I know paying interest will help keep my loan balance low for when it's time to pay them back, but does it help or harm your credit score? I just made a payment to eliminate all my accrued interest. [link] [comments]  |
| REPAYE interest subsidy question - what does 3 years mean? Posted: 29 Aug 2019 06:24 AM PDT It is my understanding that all of your unpaid interest is subsidized for the first 3 years, and 50% of the unpaid interest is subsidized for the 3 years following that. Please let me know if that's incorrect. Is the 3 years the first 3 years you are on REPAYE? Or the first 3 years you are in repayment? For example, if I switch to another IBR plan for 5 years and then back to REPAYE, will my unused year(s) of interest subsidy kick in again? Thanks. [link] [comments]  |
| Should I max out my student loans if I know I will be forgiven as a teacher? Posted: 29 Aug 2019 07:36 PM PDT I know someone that is a teacher and is also in graduate school getting their rank 1 using student loans. Once they finish this they will start paying their loans for 10 years of minimum payments and then they will be forgiven through a program from Fiducious. The question this person needs answered is would it make sense to max out their loans since they know they will be forgiven after 10 years of minimum payments. [link] [comments]  |
| Posted: 29 Aug 2019 03:35 PM PDT I guess I didn't make any real sacrifices.Removed my name and congressman name. Dear______: Thank you for contacting me regarding the Student Loan Debt Relief Act (S.2235), introduced by Senator Elizabeth Warren (D-MA), to cancel student loan debt. As a father with two daughters who recently finished graduate school, I certainly sympathize with the challenges that many families face with financing their children's education. I have supported several legislative initiatives to help students and their families better afford the rising costs of higher education. However, I oppose Senator Warren's bill to cancel student loan debt, because wiping out billions of dollars of student debt would be patently unfair to the millions of Americans who struggled for years, and made real sacrifices, to pay off their student loans. The Higher Education Act, which authorizes all federal student aid programs, is up for reauthorization this year. It is my hope that this legislation will provide an opportunity for Congress to redesign and improve the student loan repayment system. Sincerely, Member of Congress [link] [comments]  |
| Got $12,000 of private student loans in my student account when I never applied for any???! Posted: 29 Aug 2019 07:12 PM PDT So I recently got $12k in my college's student account and its shown as csStudentloans. On my Bursar's account it is shown as "Scholar cu Stdt Ln". I contacted my financial aid office and they showed me that it was from Fynanz Edaccess which, when I googled it, is now known as LendKey. They showed me that it was my SSN and on my name as well which is very confusing because I never applied for it and I don't even have any email from LendKey. I called LendKey and gave them my name but they couldn't find an existing student loan application. I then gave them my SSN and they still couldn't find in their system. I need the money for tuition though but I'm scared and confused how it just showed up. I don't even know what lender its from. The school gave me a Lender ID though. Has this happened with anyone? Any help is appreciated. [link] [comments]  |
| How do you find out what/where someone had student loans through if they pass away? Posted: 29 Aug 2019 12:49 PM PDT Pretty much the title. My mother recently passed, and I know she had student loans. I'm unsure if they were government or private, and I dont believe she had cosigned but I dont know that for sure. I think I need to reach out and inform them she has passed (I have death certificates) but how do I find out where the loans were through? Any advice is helpful! [link] [comments]  |
| Student Loan Debt/Legal guides?? Posted: 29 Aug 2019 03:43 PM PDT Hi all. Wondering if there's any current and reputable student loan guide books out there. I like NOLO Legal books, but I haven't found any specifically on debt. I keep running into self-help finance books that lump student loan advice into one chapter. Any links or suggestions are appreciated. Thanks!!! [link] [comments]  |
| Refinancing with back-to-school deferment? Posted: 29 Aug 2019 07:30 AM PDT Hi all! I recently graduated from college and have an income and would like to start refinancing my private student loans (especially my 8.625% loan with Sallie Mae…). However, my current loans all come with back-to-school deferment options and I would like to keep that because when I go to med school and have no income, I don't know if I could keep up with monthly payments. Another option that I have considered is selecting the longest possible repayment plan (20 years usually) and paying as much as I can right now above and beyond the monthly requirement, but being able to fall back on a lower monthly payment during med school. However, that best option would be if I could refinance and get a back-to-school deferment, but I'm having trouble locating lenders that offer that option. Any advice/know of refinancers who offer deferments? Thanks in advance! [link] [comments]  |
| Income/PAYE/IBR & Married Filing Separate/Joint Posted: 29 Aug 2019 02:58 PM PDT Am I missing something? I don't understand: If you have IBR, the spouse income isn't considered for the repayment plan, but it is considered because you have to submit tax info and that's where they catch the married filing joint income? Isn't that the same as PAYE where the income is always taken into consideration? Also, the online calculator says that using my loan amounts and incomes, my payment will go down if I switch to PAYE from IBR. Is that true? I'm currently 22 months on PSLF. Does it matter how many payments I'm currently in? For example, it says my current starting payment would be $0 but gradually will increase, so does that mean i might be at a future point where the payment amount will be higher? [link] [comments]  |
| Posted: 29 Aug 2019 02:43 PM PDT Finalizing my loan package for part time grad school. Currently work full time but considering leaving to pick up more consulting work and do something less soul crushing. With that said, I'm considering taking the money offered by the direct loan and potentially COL money from GradPlus or a private loan to pad my rainy day fund in case I decide to only work part time. Unfortunately I didn't prepare for this earlier so it's all a bit last minute. Should I take the Grad Plus money @ 7% and potentially refinance in 6+ months to private to get a better rate or just go private now to avoid the origination fee? From what I've read, all the lenders have their issues so go with the best rate - with that said I'd probably look at Citizen, Discover and Sallie Mae. Very high credit score, minimal debt, getting a low rate private loan should be pretty simple. The only reason I'm really considering the GradPlus @ 7% is the lack of effort with it all being handled through FAFSA and the school and deferment/forbearance options if I need it; the hypothetical scenario of interest rates falling further in the private market over the next 6-18 months is merely a perk not necessarily a decision driver. [link] [comments]  |
| Posted: 29 Aug 2019 02:20 PM PDT |
| Complete noob, want to make sure I don't do something dumb Posted: 29 Aug 2019 07:52 AM PDT Hi everyone. I'm a sophomore undergrad lucky enough to be in a position where I believe I can start paying off last year's loans. My plan is as follows: -Due to some recent developments, I realized I had excess funds from work-study/scholarships this year -Use this year's subsidized loans (which don't accrue interest until I graduate) and other excess funds to pay off last year's unsubsidized loans (which have already racked up $200 in interest) I'm here because I'm terrible at understanding things related to money. Any research I do on the topic yields other people's concerns about monthly payments, spacing them apart correctly, etc. From what I understand, what I'm considering would be one (or several) big lump sum payments on the loan and its interest to reduce the principal. I'm looking to pay off at least 50% of the current principal. I guess my question would be: are there any possible pitfalls to this? If I initiate this one-time payment, will I be obligated to follow up with monthly payments from here on? I don't think I'm in a position yet to pay off the entire loan, but I wanted to chip away what I could. Thanks! edit: my loan provider is Great Lakes, if that's relevant [link] [comments]  |
| Trying to Adult with Student Loan Debt Posted: 29 Aug 2019 11:21 AM PDT So I attended The Art Institute of Pittsburgh online, I wanted to give it a try and it did not work out. I did not finish my Graphic Design course. My computer wasn't all that great either, but the Staff at AI didn't bother to check. They had me sign paperwork and explained that I would only have to pay $900. I didn't know that I was setting up my future adult self for debt. Now I have my career, my family but I'm still carrying this student loan around. Each year I apply for some type of repayment plan which postpones my payments for a year, well now I'm married and will not qualify. I've tried to seek help from advisers at FedLoan, however this repayment plan is all they offer. Is it wrong of me to feel that they should have explained this better? I didn't understand I was going to have to pay all of this back. I feel cheated like they took advantage of an ignorant teen wanting to go into design. I honestly wish they would have asked to speak to an adult because I was no where near that. Is their any way to have my loan waived, rescinded, forgiven, forgotten, trashed? I'm just trying to move on. [link] [comments]  |
| Posted: 28 Aug 2019 10:39 PM PDT I've been racking up loans like everyone else. I keep seeing things about loan forgiveness and such, but when I google it I just get confused. I'm trying to plan the rest if my education and hope to find a way to get out of loans as much as possible. Can anyone explain what options there are for student loan forgiveness? [link] [comments]  |
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