Currently $243,000 In Student Loan Debt Don't Know What to Do Student Loans |
- Currently $243,000 In Student Loan Debt Don't Know What to Do
- Stressing out because NYC is brutal
- College Graduates, How Much Do You Pay on Student Loans Each Month?
- Federal Loans-IBR
- Can anyone help me understand my loans? Should I consolidate/What's the best payment plan for me?
- Taking out student loans.
- Student Loan Survey (Feedback/Your Opinion is VERY valuable)
- Heritage College Loan Forgiveness: Had anyone actually gotten the loans forgiven?
- Worth consolidating private and federal loans?
- Where do I begin?
- How long did it take your credit to bounce back after paying loans
- Graduating with my masters with 90k in student loans. Never had loans before, terrified & not sure where to start.
- No Income, Nelnet Sill Wants Payment Due To Jointly-Filed Tax Documents
- Can anyone give any feedback on alum financial?
- Changing 401k/HSA contributions to lower IBR payment
- Minimum Credit Score for Refinancing?
- IRS Data Retrieval Tool not working?
- Frustrated sister
- How to pay for study abroad 1 week trip I don't have the money for?
- Questions about switching to REPAYE and submitting an ECF for loan forgiveness
- Some questions regarding student loans?
| Currently $243,000 In Student Loan Debt Don't Know What to Do Posted: 07 Oct 2019 09:16 AM PDT Hello everyone, First let me take the time to thank you if you end up reading my story. I am a recent graduate from college with a degree in Aeronautics. My lifelong goal was to be a pilot and in the process I ended up racking up around $180,000 in tuition charges which has since ballooned to around $243,000 with interest. I am currently in a panic because I need to start repaying these loans on 11/21/19 and currently am nowhere close to being able to afford my minimum payment. Assuming that it is around the 1% benchmark, That would leave me having to pay around ~$2300 a month. I am currently flight instructing and in a good month I can bring in around $1300 max and that is being at work 60 hours a week. I unfortunately I have most of this debt through private lenders with Sallie Mae topping in around $125,000. I tried so hard to get federal aid, but was only able to get around $30,000 from the government towards my degree. My question is what can I do to help me get on track and not default on the loans? I really want to tackle this debt and have had very little luck with it. Even my financial aid office is no help. I currently will not be able to get a much higher paying job, until I get more experience so for now I'll be stuck flight instructing. My dad is willing to help me, but would prefer if I pay it off. Even with only having one parent alive, I guess the government isn't much help. And if anyone who may have wondered where I went to school, it was in Ohio not Embry Riddle. [link] [comments]  |
| Stressing out because NYC is brutal Posted: 07 Oct 2019 09:12 PM PDT Currently a junior at a private university in NYC racking in at around $100,000 + in private loans. I have a twin who is also in private uni in NYC with about $60,000 + in private loans. Right now I don't regret where I am because I love my school and what I am doing. I'm studying to be in the graphic/web design field so yeah I'm in all this debt for a visual arts degree. Say what you will. My parents didn't save a dime for sending us to college but we're not rich and I can understand, being first gen and all. I'll probably be paying around $2000 monthly when I'm out of school. I'm currently having a panic attack (one of many) thinking about my post-grad life. I'm doing what I can now: I have had a part time job since my freshman year and am trying to pay off interest. I also plan to study abroad next semester because European schools are way cheaper. Next year, I'm trying to be an RA to get free housing and shave off $20,000 in dorm fees (NYC is terrible). I don't know what kind of job I'll have when I graduate and that is scaring me the most. I work really hard in school and always make the dean's list plus I just got done with an amazing internship at a great museum (albeit unpaid) where I made really great connections and portfolio pieces. I probably won't survive paying NYC rent in the future so I'll be living with my parents most likely after graduation (hello to 3 hour morning commutes). I'm worried I'll never leave my parents' house with whatever job I'm able to get. I'm just posting here to let all my worries out. Say what you will about my choices in life but I love school and don't regret it. I hope people can understand that. maybe there are people out there like me who knows Best of luck to everyone in this b of a world [link] [comments]  |
| College Graduates, How Much Do You Pay on Student Loans Each Month? Posted: 07 Oct 2019 11:19 PM PDT I'm in my final year of undergrad and I am terrified by my student loan debt, which is currently at $50,000. I am going to grad school right away to become a teacher, which could add $20,000 or more to my total student loan debt depending on how things work out. Beginning teachers make $35-40,000 in the city I want to teach. Considering all my future expenses is making my head spin. How much are you able to put towards your student loan debt each month? [link] [comments]  |
| Posted: 07 Oct 2019 07:07 PM PDT I graduated with a Master's degree about 4 years ago with $185K in student loans through Great Lakes. Since then, I've gotten it down to $160K (in addition to paying off a smaller private loan). I noticed that I am "paid ahead" rather than paying on the principle under the IBR payment plan. I am able to make the full payments per month, about $1900, however, I am also undergoing chemo currently and I like having the IBR as a safety net. Has anyone ever switched to a normal payment plan or have any experience with how to pay on the principle rather than paying ahead on the interest? Currently with Great Lakes if I pay over the minimum on the IBR plan, only $480/month, it says the excess money gets applied to the loan with the highest interest rate, which is why I am confused with the "paid ahead" portion... [link] [comments]  |
| Can anyone help me understand my loans? Should I consolidate/What's the best payment plan for me? Posted: 07 Oct 2019 08:44 PM PDT Hello! Just graduated from a 4 year university in the US and I have $22,833 in student loans to repay. I have a job I will start October 16th in California, and my salary is $60k a year. I am trying to figure out what repayment plan is best for me, if I should consolidate, and understand the short-term/long-term effects of the plans. I will be working in a non-profit also. Please help, I feel so uneducated about my loans and the interest rates/etc... I'm confused about it all Servicer: DEPT OF ED/GREAT LAKES DIRECT STAFFORD UNSUBSIDIZED Amount: $2,075 Interest: 5.05% First Payment Due: 01/14/2020 DIRECT STAFFORD SUBSIDIZED (SULA ELIGIBLE) $5,500 5.05% 01/14/2020 DIRECT STAFFORD UNSUBSIDIZED $2,158 4.45% 01/14/2020 DIRECT STAFFORD SUBSIDIZED (SULA ELIGIBLE) $5,500 4.45% 01/14/2020 DIRECT STAFFORD SUBSIDIZED (SULA ELIGIBLE) $3,500 4.29% Then I have a Federal Perkins Loan from my University, $4000 total but two separate loans, interest rate of %5.00 but it says the repayment status is "loan originated" and does not show a date for first payment, which confuses me. [link] [comments]  |
| Posted: 07 Oct 2019 07:08 PM PDT Hi all, I currently have no student loans. Financial aid covers most of everything but I'm struggling to stay afloat. I'm in nursing school and I have had cut down my hours at work and my bills are a little over $3000 a month, I've used my credit cards to make up lost hours at work and have been paying off what I can on them but I can't keep in that loop of paying and using then the debt never goes down. I want to take out a student loan next semester so i don't have to get behind on everything but I have no idea even how. I don't have credit for any private loans and I can pay back the loan as soon as I finish school. Any advice? I know it's advised not to but I only have two semesters left. [link] [comments]  |
| Student Loan Survey (Feedback/Your Opinion is VERY valuable) Posted: 07 Oct 2019 10:12 PM PDT Hi. I am a student working on a thesis project. Would anyone with student loans (especially those in the beginning stages/just recently graduated) be kind enough to take my survey (it only takes two minutes and there are only five questions)? It would help me a lot. Link: https://www.surveymonkey.com/r/SVDW6Z7 Here are the questions if you would also like to provide some answers down below:
Thank you again! [link] [comments]  |
| Heritage College Loan Forgiveness: Had anyone actually gotten the loans forgiven? Posted: 07 Oct 2019 09:57 PM PDT Hey everyone, I'm writing this to get help for a friend of mine. She was a student at Heritage College when it closed back in 2016 and she took out loans while she attended the school. I don't know how much she took out or if they were private or Federal loans, but I head about a student loan forgiveness program for Heritage College Students and I wanted to ask if anyone knows of loans for students of that school actually having their loans forgiven. I've checked online and some of the results I got for Heritage College Loan Forgiveness are: https://heritagecollegeloanforgiveness.com/ https://goodbyeloans.com/heritage-college-loan-forgiveness/ These seem pretty sketchy to me so I don't want to send her those links, but there is a page I saw that is a government website: https://studentaid.ed.gov/sa/about/announcements/closed-school It clearly lists Heritage College as one of the closed schools, but I wanted to ask if anyone knows of the process actually working. I haven't been able to find any testimonials thus far and I just wanted to ask. [link] [comments]  |
| Worth consolidating private and federal loans? Posted: 07 Oct 2019 09:03 PM PDT I'm having trouble deciding if consolidating my private and federal loans is right for me. I have qualified with Splash Financial for 4.19%. My current loans are as follows: Federal loans: 5.625% Private loans: 5.75% I am debating if the roughly 1.5% savings is worth losing federal benefits. I do believe I fully understand federal loan benefits, by the way. For context, I have a stable job and about 6 months of expenses saved up in an emergency fund. Any thoughts or experiences? I have spend so long thinking private loans are bad that I am having difficulty pulling the trigger. [link] [comments]  |
| Posted: 07 Oct 2019 04:57 PM PDT I recently graduated with a bachelors degree. I plan on going to graduate school after taking a 2 year gap to gain better insight on what I want to do. Till then I understand that I am going to find a job (hopefully relevant to my field) to start paying off the $10K. Once I start grad school I understand that I can defer payment until I graduate. I've looked through my loan servicer website and am aware of when I need to start making payments. Until then what are some tips or things you wish you knew before you started? [link] [comments]  |
| How long did it take your credit to bounce back after paying loans Posted: 07 Oct 2019 07:26 PM PDT So I missed the first 4 months of loan payments when the started repayment status. (28 late payments - 7 loan accounts x 4 months). This obviously took a hit on my credit and it was at about a 600. I just paid off the loans in full and my credit went down even more. I know now my credit age is lower since those accounts have been closed but does anyone have experience with this? How long did it take for credit to go back up after missing payments? / how long did it take credit to go back up after paying loans off fully? [link] [comments]  |
| Posted: 07 Oct 2019 06:54 PM PDT I have one year left in my masters program and will graduate with approx 90k of federal loans. I've been paying off the monthly accrued interest while in school to get a head start ($200-$400/month) on these loans. i am planning to work as a physician assistant and will be living with my s/o as cheaply as possible. should i refinance these loans once i get a job since the interest rate is roughly 6-7%? is it possible to pay these loans off within 2 years? [link] [comments]  |
| No Income, Nelnet Sill Wants Payment Due To Jointly-Filed Tax Documents Posted: 07 Oct 2019 09:52 AM PDT I have no income and haven't for about 2 years now. But, because I filed my taxes as "married" (which is a whole separate issue I have), Nelnet is saying that they require a payment I cannot possibly afford. Is there anything that can be done to make it based off of my income alone? [link] [comments]  |
| Can anyone give any feedback on alum financial? Posted: 07 Oct 2019 04:52 PM PDT |
| Changing 401k/HSA contributions to lower IBR payment Posted: 07 Oct 2019 09:07 AM PDT Has anyone done this? I've got $86,090 in loans through Navient with about a 6.44% average rate for 9 different loans. Currently making IBR payments of $369/month. Not relevant to this, I also have a private loan for about $14,500 that I pay $270/month on. I've been throwing an extra $420/month to the private loan, but that money has been rerouted to pay off some other emergency expenses that went on my credit card. Because IBR is based off of adjusted gross income, I could theoretically drop my loan payment by upping my 401k and HSA contributions. I found a few calculators that suggest that I could max my 401k and HSA, which would hypothetically drop my monthly net income by $984.50, but would also theoretically drop my monthly IBR to $151/month. If I did this, I would be cutting my net income by a lot. Even after the IBR payment drop, I'd be looking at about $770 less to live on per month, so I'm not sure this is at all feasible, but for anyone who has tried this sort of thing, do you have any recommendations or advice? Any idea how to rapidly get a recalculation on your IBR if you make these kinds of changes? If I started maxing out my 401k, I'd only be able to live for maybe two months on the reduced income while still making the same payments I am now. [link] [comments]  |
| Minimum Credit Score for Refinancing? Posted: 07 Oct 2019 11:02 AM PDT I'm interested in refinancing about 75k in loans with Navient. I'm currently making around 55k annually. What's the minimum credit score most refinancing companies will accept? [link] [comments]  |
| IRS Data Retrieval Tool not working? Posted: 07 Oct 2019 02:38 PM PDT Does anybody know about whether or not the IRS Data Retrieval tool is down for maintenance or anything of the sort? I'm on FAFSA and continue to get an error when plugging in my mom's address to obtain her 2018 tax returns. I have the physical copy and copy it exactly how she filed it and continue to get an error. [link] [comments]  |
| Posted: 07 Oct 2019 09:33 AM PDT I am 28 w/ 80k in student loan debt (BA and MA combined). My little sister on the other hand is 21 and about to graduate in a year with her BA debt free. How? I had helped my sister get into college and tried to help her with her fafsa and loans in the beginning. The first semester she was frustrated and anxious about school and loans, she didn't realize her tuition was due. My parents ended up paying in full for her tuition. It continued on from there, every semester, fully paid. Granted since I started school back in 09 my family is in a better financial place. We're not rich, but we're not struggling. My mom's reasoning is that she knows that I can do it and she worries about my sister. I take it as a complement and I've taken pride in being independent and hard working. I also admit that we (parents, brothers and I) spoil my little sister in a sense, when my sister needs help we won't hesitate to do so. She was also raised differently, in that she never saw the struggle my parents went through to bring me and my brothers here to America and starting from nothing. It could be that I'm thinking about finances more so because my husband and I just had our first child. We make enough to pay our bills but not enough to put aside much. Don't get me wrong, I'm super proud of my sister in that's she finally going to graduate! Anyway, I'm pretty sure it's jealousy but more so frustration when I now look at my student loans, but I just want to scream "ITS NOT FAIR!!" Am I allowed to feel this way, I feel guilty for being mad/jealous at/of her. Any advice or some words of encouragement? [link] [comments]  |
| How to pay for study abroad 1 week trip I don't have the money for? Posted: 07 Oct 2019 09:05 AM PDT I am going on a short term study abroad trip next March. It costs $4,000 plus the plane ticket which is another couple hundred. I might receive up to $1,000 in financial aid covering it, but I have to pay very soon to secure my spot and won't receive any aid for a while yet. I only have about that much in my bank account right now and I need that for other things because when I planned out my finances for senior year of college I didn't know I had been selected for the trip yet. My family isn't able to help me out either besides putting it on a credit card. I'm trying to figure out the best way to pay for this. I could take out a loan to pay for it, but I think my only options would be like Sallie Mae with a high interest rate, right? I don't know if that's a good decision. If anyone could recommend the best way to go about getting the money for this, I'd appreciate it. I'm okay with adding just a few thousand more in debt so that I can go on this trip; I'm just not sure if a loan or using a credit card is the best way to go about it. [link] [comments]  |
| Questions about switching to REPAYE and submitting an ECF for loan forgiveness Posted: 07 Oct 2019 11:03 AM PDT I work for a qualified employer. I am sending in my REPAYE application now through the studentloans.gov site. I just need to verify my income.
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| Some questions regarding student loans? Posted: 07 Oct 2019 08:30 AM PDT I am a final year bachelor's student and want to do my masters in Europe. The fees for my course falls from 20000€ to 25000€, and I've never taken a loan and the fear of not getting a job or the inability to pay it back scares me. But this is the best way for me to get out of home and do what I love. 1) How long would it take for me to clear up this loan? 2) People who have travelled abroad to study with a student loan, your experiences? 3) Is it worth it? 4) what to look into when I go to a bank? 5) Any scholarship opportunities y'all may be aware of? [link] [comments]  |
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