I'm addicted to payments Student Loans |
- I'm addicted to payments
- For those of you waiting on borrower defense claims
- Can I do interest only payments on sallie Mae for 12 months and then refinance with a different lender?
- Make larger payments or save?
- Spouse with 120k in Student Loans
- Consolidation and PSLF questions
- refinancing private student loans (but also have federal loans)
- Refinancing questions from a soon to be grad
- Navient processing time and amount due question
- Refinancing and presidential race
- HELP! I need to overnight paperwork tomorrow. I am very confused about my defaulted loans. Confused on the process for rehab v consolidation. Need to fix things and prevent tax offset!
- Refinancing - Cant make a decision
- Is Universal Support Solutions a scam
- Can I use federal student loans to pay for other programs?
- Paying Student Loans while Abroad?
- Is there a US gov org that I could get support to try to get a full or partial refund on my tuition fees?
- Soon to be graduate with a LOT of loans - any advice?
- I Want to Pay My Loans, Not My Interest
| Posted: 22 Oct 2019 01:42 PM PDT Paying extra on these loans is addicting. Watching the total number go down and the total payoff date move in has been giving me a high. I'm worried that when the loans are gone there will be a void I cannot fill. This is a psychological question. Any thoughts, feelings, or ideas from those still lurking who have paid them off? Edit for clarity: I'm still going to aggressively pay these off to finally no longer be a debt slave. I just also need...I don't know...a hobby? [link] [comments]  | |||||||||||||||
| For those of you waiting on borrower defense claims Posted: 22 Oct 2019 03:58 PM PDT Thought this would cheer you up - especially if you are a MA resident. I believe other AGs will likely follow [link] [comments]  | |||||||||||||||
| Posted: 23 Oct 2019 05:03 AM PDT Hey all! I've been making payments on my loans for about 10 months now, and I'm still eligible for Graduated Repayment. GR is basically a 12 month plan with Sallie Mae that allows you to make interest-only payments. I was wondering if my chances to find a lender to refinance with would diminish during the 12 months of GR. I have no idea if this plan with Sallie Mae will hurt my credit score and in turn hurt my chances to get a better rate from another lender. Anybody in here have experience with this? I don't have much time left to apply for the 12 month GR plan, and want to take advantage of this if I can. [link] [comments]  | |||||||||||||||
| Posted: 23 Oct 2019 01:43 AM PDT Location: Ontario, Canada Hi, I am a recent university graduate (April 2019), and I have approximately 30k in government student loans. I am employed part-time (part time is pretty much expected for the first few years of my career), making over 30 dollars an hour at this time. I have had a grace period on my loans up until this coming November, and have managed to save just over 7k from working mid-July-present. My ideal goal would to have my loans paid off in two years, but I'm not sure how realistic this is. My payments monthly on my loan are approx $350. I have very little in terms of personal expenses (approx $600-700+ groceries/other needs per month). Saving has been hindered up until this point by having to furnish a new house (owned by my boyfriend) My question here is, should I make larger lump sum payments on my loan every couple of months, or just save up as much as I can over the 2-3 years and pay it off? I know interest will accumulate over this time, which is why I am unsure. My problem is that being my work is part time, I'm not guaranteed full time hours every month. So on months with lower income I may need my savings to dip into. My car has also seen better days, so I know this may be something I have to look into replacing in the next year, so I am nervous to just throw all my money down on the loan without some savings as an emergency fund. Thank you in advance for reading [link] [comments]  | |||||||||||||||
| Spouse with 120k in Student Loans Posted: 22 Oct 2019 03:27 PM PDT My spouse has 120k in Student Loans, all Federal I believe. She is an immigrant with little or no credit history, just the student loans and her name on one of my cards. She has not missed a payment. I do not know her credit rating. The student loans are all under her name. I did not co-sign, though we were married while she was in school. She works part time in her field due to children and medical issues. She makes 24k per year, which covers her loan payment, house cleaning, parking for work and leaves her a little spending money. Her loans are in the 5.4% to 7.2% range. She is paying enough to pay down each of the 8 loans by $10-$12 per month. (So making a minor dent in principal). Due to my own immaturity with financial affairs, I have ignored her loan situation until now. I make considerably more than her. We have gotten our financial ship corrected, and will be credit card debt free next month. We were going to tackle emergency fund and retirement funding next. Then kids' college funds. I have a 780-820 credit rating depending on the agency. I checked into her loans to make sure she was actually paying down principal and was not just paying interest. I did not know she owed quite as much as she does. The current situation is tenable. We are in a good house, in a great school district. We can save about 15% of my income for retirement and kid's college. The only downside right now to her loans is $700 per month down the drain in interest, and her financial situation were I to pass away. I have some questions. I have tried to give as much relevant information as possible, but ask for more if needed.
Thank you for any advice! [link] [comments]  | |||||||||||||||
| Consolidation and PSLF questions Posted: 22 Oct 2019 01:12 PM PDT Here are the facts I'm working with:
My main questions are:
I'm struggling to fully understand and I appreciate any insight you have to offer! [link] [comments]  | |||||||||||||||
| refinancing private student loans (but also have federal loans) Posted: 22 Oct 2019 11:16 AM PDT I have 2 private loans with variable apr and 2 private with not variable apr. I also have federal loans. Can i refinance my private loans but leave the federal loans as so I don't lose my chances of having income based repayment with the federal. And if so, what companies can anyone recommend for refinancing. thanks! [link] [comments]  | |||||||||||||||
| Refinancing questions from a soon to be grad Posted: 22 Oct 2019 06:00 AM PDT Hi - I will be graduating in December with 120 k in loans and an engineering degree. 90k of those are private loans with a ~12% fixed interest on several individual loans from Wells Fargo. I know this is a lot, I have a job making 70 k a year - itll be tough but I am staying hopeful. I was looking into refinancing after I go into repayment but I have some questions:
-What are the best refinancing lenders? I have looked into SoFi, Earnest and Commonbond. Any bad experiences with these?
Sorry if any of these sound silly, I have been doing my research but I wont enter repayment until May so I am new to all of this. [link] [comments]  | |||||||||||||||
| Navient processing time and amount due question Posted: 22 Oct 2019 05:29 PM PDT I recently graduated and my first payment was due 9/18/19. Since I didn't have any money yet my mom agreed to pay the amount due of $195.94. I had another payment of the same amount due on 10/18/19. Since I did not get my first paycheck until the day of (10/18) I had to wait to pay until the date it is due on. It is now 10/22 and I got an email saying that my payment is past due. Navient says my payment is "processing" but the money has already been taken out of my bank account. My September payment processed right away, so I'm not sure what the problem is. I also had a question about due dates/amounts due. When I paid this month (10/18), Navient tried to make me pay loans due on both 10/18 and 11/18. I had to direct how much on wanted to pay on each individual loan to include only the amounts due on 10/18. Am I not understanding their definition of due dates? They already want me to pay two months at once AGAIN for my 11/18 payment. I'm not sure if I am doing something wrong or if I am not understanding something here. Any help is greatly appreciated :) [link] [comments]  | |||||||||||||||
| Refinancing and presidential race Posted: 22 Oct 2019 04:17 PM PDT Considering refinancing my student loans due to the current low interest rates. Any negatives to switching to PRIVATE refinanced loans if one of our candidates promoting loan forgiveness is elected? [link] [comments]  | |||||||||||||||
| Posted: 22 Oct 2019 04:07 PM PDT I am a married (female) with kids. The last 2 years were absolutely insane .....blah blah blah (insert multiple sob stories). The worst was our shop for our business was destroyed by a fire. Lost everything (all accounting, etc.) I started working on going through my home office to try and recreate the accounting so I can file 2018 taxes. I found unopened mail from the US Dept of Education - Default Resolution Group that was dated August 27, 2019. It was a Debt Statement. My 2 loans are defaulted. I called them and I am even more confused than before. Loan Info (pulled from NSLDS) Direct Consolidated - Unsubsidized • $39,842 • Fixed at 2.62% • Income Based Repayment • Loan Repayment Plan Begin Date: 8/1/19 • Repayment scheduled amount: $337 • Loan Status: Defaulted, Unresolved 8/23/19 Direct Consolidated - Subsidized • $27,678 • Fixed at 2.62% • Income Based Repayment • Loan Repayment Plan Begin Date: 8/1/2019 • Repayment scheduled amount: $253 • Loan Status: Defaulted, Unresolved 8/23/19 When I called the lady read through a script fast. I tried asking questions to understand things in relation to my situation and was not successful in getting answers. I was previously on the IBR plan (paying $0) and with everything going on and our taxes not being filed (I just filed 2017 this past June) I did not have the information to submit for the yearly update with IBR. I was told I could make 3 monthly payments (could be as low as $5) and then I consolidate Or I could make 9 monthly payments (I think this is considered rehab) Initially my main concern was figuring out what I need to do so that I would be safe from getting our tax refund taken when I file my 2018 taxes (which I was planning on doing by middle of next month). The lady told me she would mail me a form I needed to fill out the "Loan Rehabilitation: Income and Expense Information" form. She said I had a DEADLINE OF 11/07/2019 to have the papers processed (which takes up to 10 days). After the 7th my Income tax refunds could be taken. She said on 11/7/19 the loans would be fortified (I think that is the word she used) meaning it would be turned over to have tax refunds offset. I was freaking out about how was it possible for them to mail to me, me return and them process before the 7th. She never volunteered that I could get the form online. I thought to ask and she said I could. While researching online I discovered loans can only be rehabilitated once. I'm not concerned with the credit reporting benefit when you rehab. So I was thinking I should consolidate then get into IBR, that way if I ever got in a bad situation again I would still have the Rehabilitation option. I guess my confusion regarding the rehab v consolidation is that she said regardless of which way I decided I had to file the form that is called "Loan Rehabilitation: Income and Expense Info". Could I just consolidate both loans and not make 3 payments through them? Knowing that I couldn't file my taxes until the consolidation was done and I contacted the treasury department to make sure the seizure status was removed from my income tax refunds? If I fill out the form labeled "Loan Rehabilitation: Income and Expense Info", make the 3 payments and then consolidate would that be considered a Rehabilitation and then a consolidation?? If needed I will overnight the form tomorrow in hopes that it is processed by the 7th BUT if for some reason the processing takes longer and the deadline is missed would I make the payment amounts listed above for 3 months and then consolidate? I am going to wait to file my taxes until I know my refund will be safe. How will I know 100% that it is safe to file so that my refund does not get taken?? [link] [comments]  | |||||||||||||||
| Refinancing - Cant make a decision Posted: 22 Oct 2019 09:22 AM PDT So I've been preapproved for most of the major lenders (below) and wanted to see if anyone sugguest I look elsewhere. Current Loan: Citizens bank $54,000 - 17 years remaining @ 7.1% (min due: $450, I pay $500) Goal: 15 year with payment remaining the same but I'll still pay the $500. (likely pay off in 12 years) Current rates being offered at the preapproval level
My questions (additional advice is also appreciated)
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| Is Universal Support Solutions a scam Posted: 22 Oct 2019 09:12 AM PDT Hello all, I was looking into getting my private loans forgiven as the payments are atrocious and the APR has only been getting higher. Was going to just refinance but came across something about PEAKS private loan forgiveness. There was a simple online form to fill out with basic info like email and phone number and they contacted me back. Asked how much my loans were for and then the person realized that I had private loans and told me that the private loans department worked by appointment only. He said he would send my info over to them and have them set up an appointment. Now about a month or so went by and I received an email from him asking when is a good time to set up an appointment. Before I go through with contacting them, did a little research on the company through google but turned up nothing about them. Went to their website and for the most part it looks fine, but I did not see a main address or anything of that sort I would hope to see for an actual business. Bottom of the website had a bunch of social media links, none of which go to any of those, they all point back to the website. Starting to get the feeling they aren't a legitimate company. Has anyone heard of them before or used them? [link] [comments]  | |||||||||||||||
| Can I use federal student loans to pay for other programs? Posted: 22 Oct 2019 11:54 AM PDT I'm taking an online Masters program which I am using student loans to pay for. They are giving me way too much. I am looking into a program abroad which certifies ESL teaching. This is not directly related to my masters, but they are both related to education. My plan would be to take this course abroad, and get a teaching job there. I might have to stay there unemployed for a while, which would also cost a good amount of money. I understand that it may be considered irresponsible to use student loan money here, but I have no previous debt and frankly, this is not my main concern here. So my concerns: Without committing fraud could I: 1) Enroll in another program not specifically endorsed by my school 2) Use funds to live in another country while awaiting work (my current program is online) [link] [comments]  | |||||||||||||||
| Paying Student Loans while Abroad? Posted: 22 Oct 2019 10:30 AM PDT Hello! I will be moving to South Korea early next year and am trying to get everything sorted out to hopefully have everything go as smoothly as possible! I am not sure how to go about continuing paying my student loans while living abroad and being paid by a foreign company in KRW, to a foreign bank account. I have done some reading that suggest keeping open my US bank account(s?), and transferring money to those to use for paying my student loans. Does anyone have experience with this process? I have two checking accounts open with brick and mortar banks, and a money market and savings accounts with Ally. I currently have my automatic payment coming from my money market, and I pay any additional payments from one of my checking accounts? Would it be wise to simply use one checking account for this purpose? I appreciate any insight! TL;DR moving to South Korea, need to know how to keep paying my student loans. [link] [comments]  | |||||||||||||||
| Posted: 22 Oct 2019 06:54 AM PDT I'm studying my MA in the UK. The university has had a lot of complaints from various programs, and in various ways has tried to sweep that under the rug, or placate students. However, my program hasn't received any such efforts, nor would we accept informal efforts by the administration to prevent us from lodging a formal complaint. My course rep is leading the charge in regards to a formal complaint, but I'm wondering if there is a US agency I could reach out to to get support from in this effort. Suffice to say we feel like what we were sold is not what we've received. We have a number of objective factors we can point to to bolster our case, as well as subjective evaluations of the course compared to course descriptions from the past. Thanks in advance! Edit: I'm not sure why I'm getting downvoted. I'm just exploring my options in how to address the situation. [link] [comments]  | |||||||||||||||
| Soon to be graduate with a LOT of loans - any advice? Posted: 21 Oct 2019 07:34 PM PDT Hi - I have been silently viewing posts on this sub for the past year or so, but I only recently decided to make an account (haven't posted to reddit in years) to get some advice on paying back my loans. I am graduating in December from a semi-private state school with a degree in Chemical Engineering. I worked last semester as an industrial placement student and was actually offered a job out of it! Given the area was relatively cheap to live, the pay was pretty nice and I already liked the people- I took it! So here is the lowdown- I have:
I will be making 70k starting at my company, and I am pretty wary about paying this off in 10 years - using online calculators my loan payments would be 1500 a month but I feel at 70k a year things could be worse. Also - to add the apartment I found near where I will be living is only 750 a month, my boyfriend is preparing to move in next year and most of my utilities/rent expenses will be cut in half. TLDR - I have 120k in loans, private and federal - making 70k a year - am I fucked? should I try to refinance on my private loans? advice? [link] [comments]  | |||||||||||||||
| I Want to Pay My Loans, Not My Interest Posted: 22 Oct 2019 07:48 AM PDT I, like many others, was extremely unknowledgeable and naive when I decided to take out student loans to pay for college. I took out a total of $64,000 in Fed Direct Stafford Loans (combination of both subsidized and unsubsidized) and 23 months into an IDR I currently owe a whopping $76,XXX. My original plan was to just pay the minimums for 20 years, have the rest forgiven, and pay taxes on the "income" of that forgiveness. I now realize that the taxes alone on the forgiven amount are likely to be astronomically high. I believe in paying back the debt that I borrowed, but I think the interest is truly ridiculous. So here's my question: Is there any way I can talk to some person or some entity that is in charge of the loan and tell them, "look, I want to give you the full amount that I borrowed cash, immediately, and I want the interest forgiven. If not, I will simply continue to pay the minimums over 20 years and you will maybe get half of what I borrowed back. You decide." I believe through help of friends and family, I could actually come up with the original amount I borrowed, but for whatever reason, I simply can't get myself to accept the $12,000+ in interest that I already owe. [link] [comments]  |
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