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    Home Unlabelled As of midnight, student loan debt free!!! Student Loans

    As of midnight, student loan debt free!!! Student Loans

    October 13, 2019

    As of midnight, student loan debt free!!! Student Loans

    As of midnight, student loan debt free!!!

    Posted: 12 Oct 2019 07:24 AM PDT

    4 years of paying student loans and I finally feel so free!!!!!!!! I graduated with ~76,000 in student loan debt and with interest, probably paid closer to 100k!!!!!

    Omg this is such an incredibly good feeling. I hope you all feel this good one day !!!!!!!!!!!!

    Woooooohooooooooooo!!!

    submitted by /u/DazedJerz
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    Graduating in May and will have $54k in student debt. Salary will be $60k. Preemptively trying to figure out how to tackle this. Any advice or tips will be really helpful.

    Posted: 13 Oct 2019 12:31 AM PDT

    Title explains most of this. I took a look at my nelnet statement just to take stock of what to expect post graduation and the balance seems very daunting to me. Unfortunately I wont have the luxury of being rent free as my family is out of state. What should my expectations be in terms of time window and monthly payments. Ideally I'd want to get rid of all this in 2 to 3 years, but I'm not sure if that's realistic.

    submitted by /u/markichi
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    Should I pay off all my loans with 1 payment?

    Posted: 12 Oct 2019 03:25 PM PDT

    I have a lot of money and I owe about 21,500 in student loans. I am required to start paying it off in a month. Should I just pay it all off right now?

    submitted by /u/neutreu1
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    Can someone explain Navient due dates to me please

    Posted: 12 Oct 2019 08:20 PM PDT

    On my Navient account, i have two loans that are on their grace period and the due date for them is listed as 10/17/2019. But when i select the loan details option, the repayment start date is 11/18/2019. Then further down the same page under 'Estimated Payment Schedule', the schedule begin date is 1/17/2020. What is meant by the due date?

    submitted by /u/WWVVVVVWWWWWWWVVVV
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    Company offers student loan repayment

    Posted: 12 Oct 2019 07:56 PM PDT

    If the company I work for offers $50/mo to pay for my loans, and my loan's additional interest adds up to an extra $50/mo, there's no drawbacks to just making the minimum payments right?

    submitted by /u/actanonverba1
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    Avalanche vs Snowball/Private vs Federal

    Posted: 12 Oct 2019 12:17 PM PDT

    I graduated in May and am about 90k in debt. I just refinanced my private loans of a little over 60k for a 20 yr plan with 5.22 interest. My fed loans are a little under 30k with an average of 4.5 interest. I signed up for an IBR but don't plan on using it. It's more there for a safety net in case something happens.

    I've been using repayment estimators online to come up with a plan. My goal right now is to get to a place financially, whether that's a second job, a better job, or freelancing on the side, to be able to pay around $250 more a month on these loans.

    After using online monthly payment calculators, I realized this $250ish could drop my private loan from 20 yrs to 10 or my fed from 10 to 5.

    Part of me wants to put it toward the private and have all loans paid of in 10yrs and save a butt load in interest. However, I also think about how nice it would be to have the fed paid off in 5 and only have to worry about one loan after.

    Both methods have their pros and cons and I'm not really sure what is best. Especially since there isn't that big of a difference between the interest rates.

    Are you/did you do snowball or avalanche? What's it been like? What method do you think is better?

    submitted by /u/callievalley
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    Need help with Navient loans

    Posted: 12 Oct 2019 10:01 AM PDT

    I have direct subsidized/unsubsidized loans from Navient that I need to repay.
    I haven't been making payments for about 5 years since I'm still going to school and they basically stopped asking me for payments because of that reason. From what I understood, as long as I was going to school, I wasn't required to make payments. The difference is that I'm only taking one class this semester (because I'm trying to get into nursing school, and it's the only class I need before I can rank into the nursing program)
    Yesterday I got an email saying that they would withdraw a payment "soon" from my account (because I apparently had auto-pay on). I got a bit confused since I haven't been required to make payments all this time and I'm still IN school.
    So I logged on and it says they'll be withdrawing the money tomorrow, which is Sunday.
    The situation is that I had to quit working for about 6 months this year and I just started working again about 3 weeks ago. I have basically no money in my bank account because all the money I had saved up was all used up during those 6 months of unemployment. The first paycheck I got went directly into paying off car loan, helping my parents with home bills/groceries (since both of them are disabled and not employed), etc. I tried to log on and see if I could get some repayment options but most of the options require for me to input my current income, which is only 50 cents an hour less than it was before I quit my previous job. They're asking for 140 a month which I feel at this point I can't do.
    I'm really lost and have no clue on what to do about the situation. I want to see if I could at least get lower monthly payments or maybe enter some sort of loan forgiveness program. But I'm super lost in all of it and don't know where to start. I've gotten many calls before about loan forgiveness programs but they all seem really sketchy.
    Any suggestions would be appreciated. Thank you!

    submitted by /u/jesster-day
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    IRS and Nelnet not working together - scared I’ll have to start paying huge repayments...

    Posted: 11 Oct 2019 11:20 PM PDT

    Hey everybody!

    I should probably start out by explaining my current situation. I'm an English teacher living abroad, my AGI is something extremely tiny due to a little bit of 1040 freelance. The rest of it is foreign earned income.

    I was sort of confused if I had to file taxes or not, and lo and behold just last month I found it that if I don't, I can't recertify my student loan through nelnet.

    I filed my 2018 return pretty late, about 2 weeks ago through TurboTax. It seems as if the information has gone through to the IRS, but whenever I need the IRS to link to nelnet and give nelnet my info, it says that there is a problem.

    I am wondering if there is a problem because My taxes are filed as someone working abroad?

    Is this just because there's a lag in the IRS from when they receive the info to when it's really "in the system"?

    I have until November to recertify, but this is giving me a lot of stress wondering what's wrong.

    Hope someone else has been through this or knows how to handle it! 🙏

    submitted by /u/drewbatmanpoo
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    Consolidation question

    Posted: 12 Oct 2019 01:19 AM PDT

    Hello.

    My wife and I have lots of student debt. Federal (50k combined) and private (about 80k). We have been paying minimum, forbearance, IBR etc for 20 years and the debt has not budged.

    I work and do ok (60k / yr). My wife has been struggling to find work and career, watching our 2 years children (~5k / yr). We also have about 17k in credit card debt.

    I don't know what else to do and don't want to default, but it feels pretty hopeless. I feel like I just don't make enough. We cook food at home, shop thrift, don't own a car, canceled Netflix, etc.

    Would consolidation work? Our private debt is with Navient and the loans have interest rates between 3.5 - 6%.

    Any thoughts? Help!

    Thank you.

    submitted by /u/Timlongbody
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