Just submitted my first payment. Student Loans |
- Just submitted my first payment.
- Any advice would be appreciated
- Advice on paying off student loans please??
- Self employed and trying to refinance loans
- Got an email saying my request for deferment was approved?
- Balance issues
- Capitalization will occur and not renewing Repaye
- Questions about refinancing - SoFi vs. Laurel Road vs. Federal consolidation
- Does the federal government dropping interest rates affect private student loan refinance rates?
- Got a strange email from Heartland ECSI which apparently is some student loan repayment service
- Paid off non-direct loan, do I need to update IDR (PSLF)?
| Just submitted my first payment. Posted: 28 Sep 2019 10:29 AM PDT I know I do not have it as bad as some of the men and women here, but I felt the need to let everyone know. I plan to pay it off within two years, and I wish everyone good luck with their loans. [link] [comments]  |
| Any advice would be appreciated Posted: 28 Sep 2019 07:37 PM PDT I have one more semester of community college and my financial aid has been cut off and I am currently unemployed and I already got into the school I plan to transfer too. Should I take out a loan to pay for my last semester since I am already planning to take one out when I transfer to a four year university. [link] [comments]  |
| Advice on paying off student loans please?? Posted: 28 Sep 2019 06:41 PM PDT Hi all, I have 7 student loans, totaling $19,674. The grace period will be ending 11/10/2019. I have already paid off the unpaid interest on it so that it doesn't capitalize once the grace period ends. Here are the loans. My highest interest rate is 5.05%:
I make $50k/yr before taxes with a bonus in June and December. I have already made a 5 year plan to pay these off which will consist of minimum payments on every loan with a portion of extra money at the end of each month going towards the loan with the highest interest to make this actually shorter than a 5 year plan. I bring home $3,188 after taxes and 401k each month. After all responsible and irresponsible expenses and saving, I usually have about $800-1000 left over. I am planning on putting ~$300-$450 of the "leftover money" towards the highest interest loan as an extra payment at the end of each month. Once my grace period ends, I am in a position where I can drop $2,544 as a one time payment to kickstart this thing. My question is, is it smarter to use that $2,544 to knock out the two smallest loans which have a 3.76% and 5.05% interest rate OR do I knock out one for $1,505 with 5.05% interest rate and then put the remainder into the other loan with the 5.05% interest rate which would end up taking $1k off of it? [link] [comments]  |
| Self employed and trying to refinance loans Posted: 28 Sep 2019 05:57 PM PDT Currently in month 6 of a business acquisition. Due to being in year one and trying to maintain my feet on the ground, I am not currently cutting myself a paycheck and only paying my wife as an employee to cover our living expenses. So in perspective of last year to this year, we lost my entire paycheck. From a tax perspective we have lost income which would hurt our household debt to income ratio. I wanted to refinance my student loans but realizing this probably is not going to work very well given the specific situation. Has anyone dealt with this or have some reasonable suggestions on how to go about refinance? I am paying my student loans through the business as it was my educational investment which even allowed this opportunity to manifest. Can/Should I use the LLC business income for the application or will I have to use my personal household numbers? [link] [comments]  |
| Got an email saying my request for deferment was approved? Posted: 28 Sep 2019 05:56 PM PDT Got an email saying my request for deferment was approved, but I never put a request in. This is a government loan. Also, my private SallieMae loans that were autodebited from my account each month is now withdrawing $0 each month. I'm confused. I feel like this is going to be a hassle to figure out what is going on. Any ideas? [link] [comments]  |
| Posted: 28 Sep 2019 03:55 PM PDT Hello All, I am really uneducated in the student loan informatics so I'll try my best to explain quickly. I started an LPN program with a total program cost of 17,500, max cost of 18,000. (estimated due to increase cost of 2019 program) I've attached a sheet to make breakdown easier. Prior to the program all costs were required to be covered by Pell grant and loan availability to student. I had a small amount of GI Bill that covered almost half of the program along with a $500 covered by local agency. I received a rogue check at the end of fall term of 3,793.00 with really no explanation, when I asked an advisor she said they cannot carry balances from year to year financial aid wise. I expected a refund after a certain hour mark and was told I was not able to receive loans because I had maxed out for the term. Loan request was submitted to cover final balance. I'm just confused as I was told I would receive 4 total disbursements and finding a job shouldn't be necessary due to refund amounts. Can anyone explain if this seems correct or should I investigate further? Link to balance breakdown program costs and breakdown My total disbursements made to my checking are 13,251 if that helps? [link] [comments]  |
| Capitalization will occur and not renewing Repaye Posted: 28 Sep 2019 07:57 AM PDT Got an email today telling me my REPAYE will expire if I don't renew and my new projected monthly payment is lower than what I'm paying now by about $200 a month (I don't know how that happens). From what I can tell I'll be paying less each month over a longer period of time and I'm fine with that. What concerns me is the small print at the bottom of the email: "Capitalization will occur - Unpaid Interest will be added to your principal balance when your current plan expires, increasing your total loan cost" I tried reading a bit on line and it all points to issues with deferment or forbearance. I have been paying my loans (over paying many months) for the last 4 years never missed a beat. Can someone explain to a naive English lit major if there's a draw back to letting the plan end and getting the lower monthly payment? [link] [comments]  |
| Questions about refinancing - SoFi vs. Laurel Road vs. Federal consolidation Posted: 28 Sep 2019 02:31 PM PDT Hello there, I was wondering if folks here have had experiences with refinancing that could help answer some questions. I am trying to look into options for refinancing my wife's private + federal student loans. Pertinent details:
A few questions:
Unrelated question:
[link] [comments]  |
| Does the federal government dropping interest rates affect private student loan refinance rates? Posted: 28 Sep 2019 05:18 AM PDT I keep seeing in the news how the feds are dropping rates, and may continue to do so in the future. Does this impact private lenders? I thought maybe they would also lower rates to stay competitive but maybe that logic does not apply.. I've already refinanced once with SoFi and have 56k remaining on a 5 year 4.64% term. I'm curious if I could refinance to a sub 4% rate. Income is 105k and 800+ credit score [link] [comments]  |
| Got a strange email from Heartland ECSI which apparently is some student loan repayment service Posted: 28 Sep 2019 08:18 AM PDT I finished paying off my student loans with nelnet years ago, and today I got an email from Heartland ECSI with an account number for me, suggesting I switch to e-bills. It's the only email I've ever gotten from them, and I have all my old college emails forwarded to my current gmail so I know I didn't miss one. I don't want to have to make an account on their site just to see if I have some weird outstanding balance for freak reasons, and their live chat also requires me to put in personal information I'd rather not do since I've never heard of them and can't be certain it isn't a phishing attempt of some kind. Does anyone have any input that could shed some light? Maybe the service provider just sent out an email informing all potential recipients that they can use e-billing now? I'm getting ready to do a credit check to make sure no one took a loan out in my name, though I'm not sure why my email would have gotten any kind of communication if that were the case. [link] [comments]  |
| Paid off non-direct loan, do I need to update IDR (PSLF)? Posted: 28 Sep 2019 08:10 AM PDT Hey all... long time lurker, first time poster. We had 10 loans, 9 of which are direct loans and we are pursuing PSLF. Recently, we paid off the one loan from undergrad that was not a direct loan. The monthly payment was 1257.59 before and is now 1220.24. If the sum of payments is based on a percentage of income, do we need to re-submit IDR certification forms now to avoid risking our near term payments not counting for PSLF? I'm leaning towards we probably do, but this community seems to be the most knowledgeable about the entire process, so thought I would ask. Here's a SS of last month/this month and the fed loan payment screen: http://cubeupload.com/im/picturedude/fedloansscombined.jpg Thanks! [link] [comments]  |
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