Why are my payments only going towards interest? Student Loans |
- Why are my payments only going towards interest?
- Despite getting 6 A’s, I don’t qualify for FAFSA because of 1 D. Is this fair?
- Repaying Osla?
- 98k in debt (77k private 21k federal)...need refinancing help
- Income for REPAYE
- Brother Seeking to Refinance SL
- Switching from IBR to REPAYE, will my interest capitalize?
- What’s the easiest way to get a Parents’ Declaration Consent and Signature paper signed if you can’t meet them in person?
| Why are my payments only going towards interest? Posted: 03 Aug 2019 01:05 PM PDT I've started making payments (still in grace period), but so far my payments have only be going towards interest and not principal. Why is that? My loan is a federal unsubsidized loan. [link] [comments]  |
| Despite getting 6 A’s, I don’t qualify for FAFSA because of 1 D. Is this fair? Posted: 03 Aug 2019 04:22 PM PDT Spring semester, I got 4 A's and 1 D. Summer semester, I got 2 A's (which is what my school looks at to determine financial aid eligibility for the fall semester). A few weeks ago, I got an email from my school stating that I can't get financial aid from FAFSA. I was thinking that was strange since my household income isn't high.. I figured I'd schedule a meeting with my school and see what was up. Today, I got a "financial aid satisfactory" warning. So, despite getting 6 A's, I don't qualify for FAFSA because of 1 D. Is this fair? Not sure if this helps, but I have good academic standing with the school. This is my last semester and throughout the semesters, I've received 12 A's, 4 B's and that one D in the spring that I re-took in the summer and got an A... being punished for one D seems very unreasonable given my previous academic performance. The email I received today: "A Satisfactory Academic Progress (SAP) warning has been assigned to your student record for your next period of enrollment. SAP warnings are assigned when you have not met one or more of CCC's federally-required minimum academic standards for GPA, Pace, and Timeframe. This is your chance to turn things around! You have one term to improve your academic record. Failure to meet the SAP requirements by the end of your next term of enrollment may result in a loss of financial aid eligibility at City Colleges of Chicago. Meet with your advisor. Speak with your college advisor immediately to create a plan to meet SAP standards. Schedule an advisor appointment by clicking on the GradesFirst logo on the homepage of your student portal. Seek support: CCC offers free Student Success Resources including tutoring, mental health services, disability services, connections with social services, and more." [link] [comments]  |
| Posted: 03 Aug 2019 06:24 PM PDT I'm at the last step but when I'm going to pay online with my card it is asking for a routing number? What routing number is it asking for because I'm using a card. Does it only take checks? [link] [comments]  |
| 98k in debt (77k private 21k federal)...need refinancing help Posted: 03 Aug 2019 05:37 PM PDT Hi guys, I'm totally new to this whole concept of loans, banks, credit so please feel free to over-explain this all to me. In April, just before graduation, I found out I had 135k in debt. (My parents held my student loan information from me for 4 years, and they also kind of forgot about it...my family is in a rough situation as my dad is self-employed and lost a lot on investments). I paid about 36.5k on it - my savings (much of which was loan reimbursements from the school!), scholarships, graduation money, and money that I lent my dad (he still owes me 8k). After four months, I paid off one Sallie Mae loan - 12.375% interest. However, I still have three more at 11.25-11.75%, and two of them have been sitting for years, so they have about 4k each of interest (paid 2k on each before I knew better)....this isn't even counting my 6 federal loans, but I'm prioritizing the private ones first. I live at home, bring lunch every day, and my only expenses are my $350 monthly train pass and emergency cash. I work as a "freelance" production assistant (none of the PAs at my company are hired as staff immediately, but for refinancing purposes this is really annoying) and can make anywhere from 43k to 63k pretax depending on how much overtime I work. (Yes, I plan on working a lot, so 53k to 65k would represent 54 or 63 hours of working weekly, respectively). So I'm looking at taking away anywhere from 34k to 54k a year after taxes. I have kind of a transcendental view of money so I don't care if I'm not rich. I do care if I can't have children until I'm 30, but that's a different thing. So for someone with a history degree but great work experience and a solid work ethic, I'm hopeful. That's the background. The point is, I'm paying $1000 in interest monthly. I've been told to refinance, but I have NO IDEA HOW TO DO THAT. Guys, NO IDEA. Every single time I look it up online I get confused and upset. I'm dedicated to paying off my loans. My dad said I should have a 10-year plan at 1100 a month so I have something in savings when I get a house, but I really I just don't know what to do and am planning to put in my whole paycheck for the next 3 years. I got far on SoFi's application but when they asked me to describe what kind of freelancer I am I got confused and closed out, since I don't know if I'm 1099 or whatever. My credit score is high 600s. My dad DID apply to refinance and had a good plan worked out but he's busy and hasn't replied to the emails. I'm getting so frustrated that I might apply on my own, even though another hard credit pull will hurt my score. I don't even know what to say in regards to my salary - I'm paid hourly and it wouldn't be fair for me to say I make 63k when that's assuming I work two overtime shifts a week. How long does refinancing take? Is it mindblowingly stupid that I haven't refinanced yet? I've been graduated for two months but only worked for one. Does anyone have experience refinancing without "adult" supervision? For a bad debt to income ratio? For freelancers? [link] [comments]  |
| Posted: 03 Aug 2019 03:01 PM PDT if you use pay stub for REPAYE recertification, do they use the current gross and multiply is by 26 or total gross YTD and do income projection? Our 2018 AGI includes bonuses and extra shift pay, neither of which are guaranteed in any way so it's higher than the base gross on the current stubs. Im going to call my servicer but just wondering if anyone had insight before I did. Thanks. [link] [comments]  |
| Brother Seeking to Refinance SL Posted: 03 Aug 2019 01:24 PM PDT Hi Reddit! Long time lurker, finally posting. I'm hoping you guys can give me some tips or advice <3. I currently have a private student with Discover at ~$18,000 with APR at 8.76% and 10.24%, Im the student with credit score around ~740, but I'm a DACA recipient (technically international student) so I had to have my oldest brother, who is a citizen, co-sign for me. He has around ~800 credit score. We're thinking of refinancing to get a lower interest rate and would love some advice. If need be he can be the sole person on the loan, but I don't think he would qualify for a federal loan since he isn't a student anymore, and due to my status neither would I. What would be some options that we have? Or if re-financing with another private loan the only option that's viable? Thanks a bunch in advance! [link] [comments]  |
| Switching from IBR to REPAYE, will my interest capitalize? Posted: 03 Aug 2019 06:28 AM PDT I graduated school in 2013 with around $112k in debt. I was on IBR. The first year out my payments were $0. However, my living situation changed 1-2 years after grad school and I was able to pay upwards of $1k a month for about 1 and a half years. About 2 and a half years into payment, I was without a job for a year. This had my student loans balloon to $122k. When I started working, I was able to bring it down to $94k within in 2 years. Throughout all of this, I was on IBR. Currently, my payments are $860. Sometimes I pay $1k when I have it. However, a friend told me that I should switch from IBR to REPAYE to reduce my monthly payment. I've been thinking of doing so just in case something happens and I can't make the IBR payment (being out of work for 1 year will instill that fear). As I have been reading up, I read that my interest will capitalize once I switch. I am very fearful of my loans increasing again. My payment have been hitting the interest each month, but I am not sure if it has been hitting the total interest. Will interest capitalize making my student loan total increase if I switch to REPAYE? [link] [comments]  |
| Posted: 03 Aug 2019 05:56 AM PDT My idea was to print it out, write my portion down, scan it, and email it to my dad, then my dad would do the same thing and send it to my mom, then my mom would do the same thing and send it back to me. But my parents can be difficult to deal with and get things over and done with when things require a process, so I was wondering if I could go to the student aid office and do something easier there, like get my parents to video chat with me, confirm their identity, and give permission with a worker present? [link] [comments]  |
| You are subscribed to email updates from Advice, articles, and general discussion pertaining to student loans.. To stop receiving these emails, you may unsubscribe now. | Email delivery powered by Google |
| Google, 1600 Amphitheatre Parkway, Mountain View, CA 94043, United States | |
No comments:
Post a Comment