Weekly Politics Discussion Megapost Student Loans |
- Weekly Politics Discussion Megapost
- Should I live off of Student Loans?
- Can I refinance multiple times?
- Can I use USA student loans in Canada?
- Taking on my parent's loan to build credit?
- Advice regarding student loans and plans
- 25 year old independent student - will gifts adversely affect efc
- Sallie Mae Approval
- How much should I aim to keep in my savings?
- Can I consolidates federal student loans?
- Advice on Student Loans!
- Canadian who wishes to study in US
- Need advice refinancing
- IBR from paystub
- FedLoan Servicing - legit?
- I keep getting mail from SoFi - Does anyone have any experience with it?
- Household size
| Weekly Politics Discussion Megapost Posted: 28 Aug 2019 01:11 PM PDT /r/StudentLoans is not /r/Politics, but student loans have a political component (especially this election season) and that deserves discussion! This is an automatic weekly post designed to host discussions about legislative proposals, candidate platforms, and other political topics relating to student loans. Posts and comments that fit these categories will be removed from other areas of the /r/StudentLoans community. Comments that only loosely relate to student loans should be taken to /r/politics or a similar sub and may be removed from here. Links to external websites or other subreddits must primarily relate to student loans. The rules of /r/StudentLoans still apply. Personal attacks, speculation about the motives or debt situation of other users, and unsolicited advice will be removed. This is also not a platform for specific political advocacy; this includes linking to petitions and soliciting campaign contributions. (This weekly aggregation post is an experiment. Please let the mods know your thoughts and if you have suggestions for improvement either by commenting here or via modmail.) [link] [comments]  |
| Should I live off of Student Loans? Posted: 28 Aug 2019 10:35 AM PDT TL;DR Would it be easier to keep a part-time job or just quit and focus solely on school? A little history about myself- my partner and I are moving (currently, actually) into a small house with rent being $550 and most likely an extra $100 or so for utilities per month. My partner is currently enrolled into school full time while working part time on top of that. Its only her 2nd week and shes already feeling so stressed about all these assignments. I'm hoping to start back in January, and when I lived with my aunt, she quit work to focus on school. But i know a lot of people who have done either or and i just want to make the best decision. I'll be snagging my bachelors degree when i go back, so i already have abt $4k in debt from my 3rd year (1st semester). During that semester I was working a part time job, but i ended up dropping out of school because everything just seemed too much. And ofc now im trying to get back in. Not sure if I left anything out, but if theres any bit of advice I can get, I'll take it. EDIT:// Thank you all so much for your answers and feedback!! I appreciate them so much and will respond to most within due time. For everyone saying no- this wasn't a yes or no question... I'm just looking for advice and different ways to work around this whole thing. Thank you, though. [link] [comments]  |
| Can I refinance multiple times? Posted: 28 Aug 2019 05:55 PM PDT I refinanced about 75k of federal loans at 6.2% interest rate with SoFi. My new plan is a 5 year repayment at 4.6%. I noticed the feds dropped interest rates recently and I got a "soft quote" through Credible. There were several options, some as low as 3.8% on 7 or 10 year terms. My question is, am I able to refinance again? I have been happy with SoFi thus far and was thinking I could get an official quote and ask SoFi to rate match the new loan terms? Anyone have any luck with refinancing multiple times? [link] [comments]  |
| Can I use USA student loans in Canada? Posted: 29 Aug 2019 02:04 AM PDT Can I go to college in Canada if I live in the United States? Like get a passport and a visa and use USD? Kind of a dumb question but idk. I'm 20M living in US [link] [comments]  |
| Taking on my parent's loan to build credit? Posted: 29 Aug 2019 01:18 AM PDT Hi. I am a dropout with a little over 17k making enough money to currently cover my student loans. My parents took out loans on my behalf so I could go to school and as a result I have to pay them. I have to pay regardless to my parents so I was wondering if it were possible to get the loan transferred to me so A) My parents credit score isn't impacted and B) since I'm going to have to pay anyway I'd rather just simplify the whole process Any help/info is appreciated. Thank you! [link] [comments]  |
| Advice regarding student loans and plans Posted: 28 Aug 2019 10:16 PM PDT Hi I'm 22 and senior attending public university and need help regarding student loans. I have 2 more semesters of school that needs to be paid for. However financial aid will only give me $7500 for a whole year. However i need about $6000 a senster and until I turn 24 I wont recieve more than $7500 for a year. The financial aid that I recieve can only cover a single semester of full time classes (12 hrs). So I have been considering 3 options:
Any advice would be great. Thank you. [link] [comments]  |
| 25 year old independent student - will gifts adversely affect efc Posted: 28 Aug 2019 06:06 PM PDT So let me please preface this with a please don't judge me but I am an independent student who is estranged from my family and has an off the books job out of necessity in my circumstances. Sometimes (maybe like thrice a year) however I am able to receive lump sums (Gifts?? ranging from $2000 - $5000) from my parents out of their shame and guilt for abandoning me at an early age (Though i know they are not claiming me on their taxes). I also sometimes receive thousands of dollars in direct deposit which i would assume would be considered as "gifts" (they are from my job). I currently received a pell grant, a fed sup edu opp grant, and the maximum federal direct loans (subsidized and unsubsidized -which i think together totals at like $9500 a year). I'm just wondering if these gifts will have a negative impact on my fafsa next year. Though they only fund a small fraction of my yearly living expenses i am worried they are going to affect my EFC and then I won't actually be able to afford school. I haven't had any luck looking up this topic online and I was wondering if anyone could help me! Thank you!! [link] [comments]  |
| Posted: 28 Aug 2019 04:05 PM PDT I'm currently in my senior year of college in the US. I've paid off all my student loans entirely. I have a credit card and keep the usage low / make payments, so my credit is fairly good (~725). I have a part time job on the side of classes this semester. The only issue is a shorter (~3 years) credit history. I'm applying to universities in the UK for a second bachelors degree (long story and it is irrelevant to the post). The university doesn't participate in the US federal loans scheme so I'm stuck to only Sallie Mae for international schools. I understand all the hate for the company, trust me, I've read plenty. Also not the point of the post. However, they're my only choice. I can't apply until next year, but until then, I'm stressing myself out massively. My mother is currently going back to school for her Nurse Practitioner. While she has a good income, she also has a lot of student loan debt / fair bit of credit card debt. My father has an even better income but I'm unsure of their shared debt on his side. He refuses to cosign for me because he hates other countries. My mother (likely) would, but I'm unsure if she'd get approved. What are the chances I'll get approved on my own without a cosigner? What about with her as my cosigner? I'm trying to ask other people in my family but it's limited as they have kids of their own or are seniors without good income. I spoke to a girl who said she got approved fine in my scenario, "approval wasn't the hard part" verbatim, but I'm still worried. Edit: I know the only way to find out is to apply but I cannot yet & also cannot stop fearing the worst. Personal issue I know. Just maybe share your experiences please. [link] [comments]  |
| How much should I aim to keep in my savings? Posted: 28 Aug 2019 05:47 PM PDT So a little about me. I live in NYC with my parents, have a decent job, not as much as I could be making but more than most of my friends and very secure and comfortable with very nice benefits. I graduated in 2016 with and with a student loan of $116k. I kinda just coasted it for the first few years paying the minimum every month trying to chip at it and enough to keep building my credit up but recently I've decided to tackle it more aggressively. I refinanced my personal loans last week with a pretty good new rate and have a very good sense of my personal finances and spending and savings and am trying to formulate a plan to hit my loans fast and hard. The minimum payments take about half my pay every month and the other half goes to my car, food, my train tickets, and misc. spending money which leaves me with about $200 a month I get to throw into my savings. Obviously I can restructure that and pool more money from my misc. spending into my loans. Every now and then over the past few years I'll get a boost in my income from bonuses or a big tax return or inheritance etc. The first few times this happened I spent them on expenses for the family when my mother was laid off and then last year I got about $7k from bonuses and tax return and I just had it sitting in my savings for a while before I had to take it out for a new car after my old car died. Now that I'm trying to be aggressive with my loan I would've loved to blast that $7k at my loans but at the same time, I'm not sure how much I should be committing to my loans and how much I should leave in my savings? I know it's personal preference but in general how much should a late 20's living in NYC be aiming to keep in his bank account for emergencies? [link] [comments]  |
| Can I consolidates federal student loans? Posted: 28 Aug 2019 05:17 PM PDT My wife currently has 45k in student loans, currently being serviced by Nelnet. The interest on these loans ranges from 3.5% up to 6.8% across maybe 12 different loans. When she looks at consolidating then it states it will take a weighted average of each loan and interest to create a blended rate. The finance part of me thinks there should be a way to refinance into one loan at the current market rate, am I way of base? It baffles me that during a time of the lowest rates this country has seen, somehow federal loans on education have a ridiculously high rate. I have excellent credit, can we take a personal loan out to pay these off if we find a better rate? [link] [comments]  |
| Posted: 28 Aug 2019 01:45 PM PDT SO, my situation is this... i have completed two years of community college and have loans (unsub) that's covered most of my expenses through my two years. i'm currently in WA state and planning to go in elementary education which isn't too bad, pay wise, since washington state pays well for teachers. i'm currently planning to attend a 4 year to complete my last two years of my bachelors degree. i still have a chunk of money (a little more than $14k a year) that i need to make up for after sub, unsub and grants federal wise. i only have my dad to support me at home and am a little nervous to ask him to take out a parent plus loan, but i know that is safer than going for a private loan. is there anyone that has had a positive experience with a private loan lender? anyone in the same type of situation? anyone who has more knowledge about student loans that can lend me some advice! i'd really appreciate it! thanks! ❤️ [link] [comments]  |
| Canadian who wishes to study in US Posted: 28 Aug 2019 06:40 AM PDT Where have Canadians typically taken their loans out? Something like MPower in the US, or will private banks in Canada provide the necessary funding? [link] [comments]  |
| Posted: 28 Aug 2019 10:40 AM PDT I have 2 Navient loans in the 12% interest rate that I want to refinance. I have a 700+ credit score but Earnest denied me due to an old CC that I defaulted on. Anyone have any experience in other companies that might refinance these? [link] [comments]  |
| Posted: 28 Aug 2019 04:15 AM PDT I'm a physician with an absurd amount of loans but I work for a non profit hospital and qualify for forgiveness. My biweekly pay fluctuates based on how many extra shifts I do a month. Does anyone know how to calculate your IBR payment from a paystub vs your AGI. I have been working a lot of extras this year but my next 2 paychecks will be the minimum amount since I didn't do extra shifts. I have worked a decent number of extra shifts this year however, compared to last year. I want to see which method will get me the lowest payment. Thanks for your help [link] [comments]  |
| Posted: 28 Aug 2019 08:18 AM PDT I have 2 months left in my grace period and want to start paying my loans back. Is this a legit company? I don't want to be paying scammers. [link] [comments]  |
| I keep getting mail from SoFi - Does anyone have any experience with it? Posted: 28 Aug 2019 06:28 AM PDT I have around $61k due in student loans ( It's a mix of direct subsidized and unsubsidized loans with interest rates ranging from 3.4 to 6.8%) Does it make sense to refinance ? [link] [comments]  |
| Posted: 28 Aug 2019 05:33 AM PDT Hello, I was living in a room during the past few years and I claimed HoH on our taxes due to being married and having a child. My husband lived abroad which is how I could claim HoH (Head do Household) and my monthly payment was $0 with loans. Our income was $30,000 My loans total $80,000 and I'm on IBR. I'm working towards PSFL (public service) and have 7 years left. Our income now is $70,000. We moved back to my parents house since my husband just moved to the states last year. My husband has his own child which he doesn't claim on his taxes. I have two elderly parents that I also care for. Can I claim my parents as household size for loan purposes? I can't claim them as dependents on my taxes but I saw this question on the loan process. I just recertified with IBR and the loan payment is now too high for me - $398. Can I do REPAYE / PAYE to bring it to ~$180? [link] [comments]  |
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