Just a reminder to continue checking your payment history- even if you use auto-pay (Great Lakes) Student Loans |
- Just a reminder to continue checking your payment history- even if you use auto-pay (Great Lakes)
- HELP! I dont know what to do
- Fafsa loan question
- Is this offer from Laurel Roads worth it to refinance?
- fafsa doesn’t cover everything, still at a loss
- Student loan vs. "personal loan"?
- Sallie mae....ugh. Private loans vs. Personal Loans help?
- Federal Student Loan Forgiveness
- Confusion about Defaulted Student Loans
- Nelnet Standard Payment plan isn't enough to stay on top of interest for me? What should I actually be paying monthly?
- Is it worth accepting financial aid from FAFSA to get out of a financial slump even though my tuition is already paid for?
| Just a reminder to continue checking your payment history- even if you use auto-pay (Great Lakes) Posted: 03 Sep 2019 07:40 AM PDT Good morning I've been on auto pay for the last ~4 years with great lakes. No issues I would pay the minimum or pay extra and allocate the excess to a specific loan. However, I was waiting for this month's payment to process and I checked it yesterday and the payment was 'Pending'. So I check again this morning hoping it would be applied and...nothing. No record of a September payment pending or anything. Just telling me next payment was due in October. So I call them up and the person thought it was strange and couldn't really offer a reason as to why it happened. Auto Pay was set up- he did see that it was pending at one time and there was a payment failure. He assured me the payment wouldn't go through and that I can make a separate payment this month and that autopay would work fine next month. Maybe this is common sense stuff but I figured I would share anyways. [link] [comments]  |
| Posted: 03 Sep 2019 10:03 PM PDT This is my current situation at the moment. I am currently sitting at around 140k in student loan debt from Sallie Mae. I am 24 years old and currently just work at a 24 hour fitness since I am studying and trying to get into medical school. Because of this I am relying on help from my mom to pay the loan back. Back in my junior in college my father suddenly and unexpectedly passed away. With his passing we were given a very large settlement from his life insurance policy that my parents had , and when my mom told me this she told me this can help pay for my education (it was well more than enough). Now fast forward 3 years later and my mom is a mess. She has been battling a loosing fight with alcohol and nothing my siblings, family friends or I have tried has helped. She has had multiple hospital visits and she has dealt with police. We put the loan on a forbearance for a while but its now time to start making payments. However because of my moms condition whenever I ask her about it, or offer to take care of it if she gives me access to make a payment it ends in an argument with her saying I dont care about her and that I only care about the money. We are currently almost 2 months past due and I am terrified this is going to destroy my credit score. At the moment I have taken her wallet to try and prevent her from purchasing any more alcohol but I wanted to know if paying current amount due on my loan to become current would be a good move or a bad move? The current amount due is around 3,000. Tldr; currently behind on loan payments because of personal circumstances. Should i go behind my moms back and make a payment to prevent tanking credit score [link] [comments]  |
| Posted: 03 Sep 2019 08:30 PM PDT I recently applied to fafsa and got a loan estimate of $5,500. I need this money soon in order to buy a car, a cheap one under $3,600. Technically it's not for school but it would help me a lot by getting to school, getting to work, and everything in between. Let's say I borrow this money and pay it back monthly, how much interest would they charge me monthly? Would I have to tell them what I'm borrowing this money for? I know someone who did this bought a car with fafsa money and paid fafsa gradually, but I'm new to the system and would like to know more about how the process of borrowing money works. [link] [comments]  |
| Is this offer from Laurel Roads worth it to refinance? Posted: 03 Sep 2019 04:41 PM PDT I recently applied to multiple companies regarding refinancing my student loans and received the most generous offer from Laurel Roads. Based off of what I've researched on refinancing, and given my current financial situation, I don't think this offer is worth is to sacrifice federal student loan benefits. The math was tough but I ended up estimating refinancing saving me ~$700 by the time I pay off my loans. Wanted to hear other's opinions on this. Thank you! Background: I am paying $351.03 a month on my Parent Plus loans (listed below) and $144.05 on my Direct Sub/Unsub Stafford Loan's. My Stafford monthly payment is low b/c I have them in an extended graduated plan so I can apply the avalanche method and direct an additional payments of roughly ~700 a month to my highest interest loan. My Parent Plus loan servicer denied my application for an extended graduation plan. I live at home on a very tight budget and don't see anything changing with my budget/finances in the near future. I make $40K at my current job, which also allows me to be eligible for PSLF, but I do not want to pursue this path as I want to eliminate this debt within the next three years (did the math on this). Also, there is the possibility that I might not work in public service for ten years, and there is a small chance that I do not get offered the full-time job after my fellowship ends in ten months. However, I am confident that I have at least a 90% chance of receiving a offer (Trust me on this.) Current Monthly Payment: Parent Plus Loans: $351.03 Direct Sub/Unsub Stafford Loans (Extended Graduated Plan): $144.05 Additional Payment to highest interest loan: $700 Total monthly payment: $1195.08 Current Loan Information: $19,015.90 6.16% (Parent Plus Loan) $3,189.90 6.59% (Parent Plus Loan) $4,215.15 4.04% $1,581.47 4.04% $4,873.09 4.41% $4,739.64 3.61% $2,681.77 3.15% $1,160.14 6.55% Total: $41,457.06 Average Interest Rate: 4.82% Laurel Roads Refinance Offer: VARIABLE 5 YEAR 3.76% $777.77 monthly payment FIXED 5 YEAR 4.25% $787.15 monthly payment *** Would be choosing the variable rate given the current outlook of the economy and a recession coming. Any feedback would be greatly appreciated, thanks! [link] [comments]  |
| fafsa doesn’t cover everything, still at a loss Posted: 03 Sep 2019 04:35 PM PDT After reading everything this sub has to offer, I'm still at a loss. I really do not want to take out a private loan because the interest is crazy and with what my fields starting salary averages look like, it is not feasible to even imgine myself being able to pay off those loans. How in the world could I possible get financial aid to laybe get me more loans? Are there any keywords I can bring up to them to potential appeal my aid rewards? While I do apply to scholarships, I rarely hear back from them so I've almost given up on them. ANY advice is welcome as I am desperate. Sorry if this is a bit vague... [link] [comments]  |
| Student loan vs. "personal loan"? Posted: 03 Sep 2019 02:52 PM PDT Hey, r/StudentLoans! I'm finally about to start college on a career track at the age of 26, and I've been reading up as much about student loans as I can - but last night, a friend of mine who graduated a while back (on student loans) said that she wishes she had taken out a personal loan for school, instead. I've been trying to look into whether there are any personal loans that would enable me to not have to start paying them back until after I was finished with school and had gotten my certification, but I'm not finding any. Do they exist? Is this thing even possible? [link] [comments]  |
| Sallie mae....ugh. Private loans vs. Personal Loans help? Posted: 03 Sep 2019 04:09 PM PDT I have 75k in student loans through private and federal loans. Sallie Mae is making me pay 700 a month for my loans. Im paying 289 a month for my private loans. Thats almost 1,000 a month. Is there any way at all I can refinance? I have tried sofi and lend key but my husband and I have separate banking accounts and it is difficult to show how much our income is. We have both changed jobs in the last year. Any help is greatly appreciated! Thanks so much. [link] [comments]  |
| Federal Student Loan Forgiveness Posted: 03 Sep 2019 12:07 PM PDT My wife and I both have student loans and recently we have both been receiving phone calls "Student Loan Help Center" saying our loans may qualify for federal student loan debt forgiveness. They don't give any other info and just request that we call back with a reference number they leave in the voicemail. There have been times when I don't even get an actual phone call and a notification pops up that I have 3 new voicemails all saying the same thing. They have been different numbers that have called and left these messages. From my understanding these are generally scams so is there any way to stop these phone calls from happening and get removed from these call lists? [link] [comments]  |
| Confusion about Defaulted Student Loans Posted: 03 Sep 2019 12:50 PM PDT Hello! I would like to go back to school to finish my degree. However, I have a few student loans that since leaving school have defaulted. I will also need financial assistance to pay for my continued education, so I want to do something that won't harm me applying for new student loans. (I have 3 semesters remaining) As of right now, looking at my FASFA, I have 11 Loans 2 Services totaling $46k in debt. (10 DIRECT STAFFORD SUBSIDIZED and 1 FEDERAL PERKINS) So what are my next steps? Should I consolidate them? Apply for rehabilitation? Forgiveness? Combination? I'm really lost as to what I should be doing and the material they provide just confuses me more!! Thank you for the help! [link] [comments]  |
| Posted: 03 Sep 2019 07:42 AM PDT I have 30,297.44 in federal student loans from my undergrad. Interest rate is 4.25%. Can any of you math people figure what the minimum payment is that I need to pay in order to stay on top of interest. I am on the standard repayment plan, so my monthly payment are $206. My total has GROWN since I started paying two years ago. It's such aggressive bullshit. My auto loan has my interest built into the monthly payment, so it doesn't accrue every month. [link] [comments]  |
| Posted: 03 Sep 2019 10:27 AM PDT TL;DR at the end. So I filled out my FAFSA verrry late this year and I just got the email today with my financial package. I wasn't worried about it because I'm usually never awarded anything; my parents are very financially secure and have agreed to pay my tuition in full while I'm studying at CC (which I am so utterly grateful for). What was interesting was I found I was actually awarded a direct unsubsidized loan for whatever reason. I figured I'd just decline them since my tuition is paid for already from my parents out of pocket, but my boyfriend made me aware that there's nothing stopping me from just accepting anyway and using the money to help pay for the insane amount of bills I have coming up. (And before I get accused of fraud or something, I read the fine print and everything I would plan to use the loan for is included in FAFSA's list of approved educational expenses like school supplies, housing, and transportation.) A little backstory to explain WHY i even need the funds though: I've never been good with money at all. I don't save anything, I don't budget and I buy things I don't need. This summer I finally decided to get my sh*t together though and I started to really plan out my finances so I wouldn't have to keep living paycheck to paycheck. But of course these past few months were brutal when it came to unexpected expenses. First, my car is starting to fall apart and mechanic fees are ripping through what I normally have to pay for rent and utilities and food even. (This is where the transportation portion of educational expenses comes in.) My car is where the majority of the loan would go to. Second, through a series of unfortunate events, I am taking care of two cats now that I never wanted but I can't bring myself to abandon them or give them to a shelter. Now even more of my paycheck is going to cat food, litter, pet cleaning supplies, etc., not including the fact that I'm moderately allergic. Until I find someone willing to take them off my hands into a better home I'm stuck with them. Lastly, dealing with all of this all summer has left with with nothing to pay for books for all my classes starting tomorrow. Even before, I was scraping the bottom of the barrel to come up with rent every month so now I'm really kind of f*cked. But with this loan, it would be more than enough to pay for the repairs I still need on my car, books for my classes and to help me out with my rent and utilities so I can actually afford to go to school this semester. All of this would make taking the loan out seem like a no-brainer, but with the interest I would owe on the loan would almost double what I have to pay back. I know for sure that when I transfer, my parents won't be able to pay all of my tuition like they can now, so I'll have to take out even more loans when that comes up. I hear so many horror stories of graduates having to pay back insane student loans and I've been fortunate enough to avoid them so far. So TL;DR: The past summer sucked my bank account dry with poor spending, unexpected car repairs and new pets to take care of. As it stands now I have no way of paying for books and I'm even going to be late on a lot of my regular bills. My parents pay for tuition, but I was awarded a loan through FAFSA and accepting that would help me out of my financial troubles so I can go to class while still living comfortably. But, the interest owed on that loan would close to double the amount I'd be required to pay back. Is taking the loan worth the pain later down the line or should I find another way to get out of my financial crisis? [link] [comments]  |
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