I’m done! 25K turned to ~33k in 2.5 years! :D Student Loans |
- I’m done! 25K turned to ~33k in 2.5 years! :D
- Origination fees
- Going home during summer months while in school: is this not allowed via US loan agreements?
- Help knowing if i've been scammed
- Should I refinance my Parent PLUS Loans under my name
- Pre-paying your Student Loans
- Complicated Situation- Need Advice
- Time to deal. I need advice.
- Hi, looking for advice
- Refinancing Student Loans - Paying Lump Sum
| I’m done! 25K turned to ~33k in 2.5 years! :D Posted: 20 Oct 2019 02:08 PM PDT I've been seeing many success stories on here lately and wanted to add to the positivity. I graduated in late 2016 with 25k worth of student debt even though I had plenty of scholarships and it was pretty disheartening. I majored in environmental engineering, and had 3 internships during school which helped me stay afloat and pay for my last semester completely out of pocket. I saved a lot from working those and worked while I was in school too, and have always lived below my means. After I graduated, I took my 1st job in a hcol area with an average salary, and was paying just over the min on them, but last year I took up a new job w/ a ~40% pay raise in a lcol area which allowed me to pay over 1k a month on them. On an older post in here I saw ppl in comments disappointed that these always boil down to people making more money to accomplish this but that would be my advice to you: live below your means and make more $ anyway you can (legally of course) to try and knock these out. I know I didnt have as much as some of you, but just keep grinding to knock it out. This was the first month I didnt have to make a payment and it was awesome to put that 1k in a savings account. Don't lose hope! [link] [comments]  |
| Posted: 20 Oct 2019 06:18 PM PDT I've already graduated college, but I just got to thinking tonight. What do you think about origination fees? Is it fair? From my viewpoint, I don't believe it's fair to ask for $20,000, just to get a check in the amount of $19,500, but still be responsible for 20k. (Random numbers btw) Is this standard in other industries? (Banking, etc) I may be oblivious and this might be dumb, but I'm just curious [link] [comments]  |
| Going home during summer months while in school: is this not allowed via US loan agreements? Posted: 20 Oct 2019 05:48 PM PDT I'm an American doing a 2 year long masters course in the UK. This summer I'm off from uni early July - late September so ideally I'd like to go back home to the states to save money. When I met with the US loans officer of my uni, she told me that it's expected that students stay during the summer months even if they're not in classes because we still get student loans (I'm getting the grad plus loan which disburses 3 times a year, the last disbursement being May). My plan however was just to either save the bulk of that summer disbursement for the next year, or immediately pay it back. Can I actually get in trouble for going home for those couple months, or might this affect my chances of aid for the second year of my masters? If I do this is there anything I should do to be less suspect? [link] [comments]  |
| Help knowing if i've been scammed Posted: 20 Oct 2019 04:48 PM PDT I have a parent PLUS loan through my father's name. A group called eduprepgroup contacted him and said that, because of predatory lending practices, that our loan was eligible to be brought down in overall ammount and that my monthly payments would be reduced. It has been two months now and i have been making the new payments to them and not the previous servicers, Great Lakes, who they have told ne not to contact. Did I mess up by signing up for this? My father says that the loan amount has not changed and i can't find much information online about the group. They have my social and my bank account number. Any help would be greatly appreciated. [link] [comments]  |
| Should I refinance my Parent PLUS Loans under my name Posted: 20 Oct 2019 08:25 PM PDT Hello, I just graduated from college a few months ago and have a job where I make about $68,000/yr pre-tax. I have $28,000 in my name at about 5.05% interest rate and about $94,950 at 7.60% in my parents names. I was wondering if it is a good idea to refinance their loans under my name which would probably save me around $75/month (on a 10-year plan) without a cosigner. Is the risk of moving from federal loans to private loans not worth it? I think I have good job security so deferment or forbearance may not be a huge concern of mine, but it still worries me to lose those if I went to private loans. Additionally, if in the future a nation-wide student forgiveness plan was put into place in the US (unlikely, I know), would I be ineligible of receiving it if these loans became private? If anyone has any input on my situation I would greatly appreciate it and if you have any loan refinance companies that you would suggest please let me know. Thanks. Edit: I am living with my parents right now and don't have a ton of costs in addition to this, so a lot of my money will be trying to get rid of my loans. [link] [comments]  |
| Posted: 20 Oct 2019 10:09 AM PDT I graduated in 2016, and started off the standard repayment plan. After losing my job eight months out of college, I switched to the 25-year Extended Fixed Plan until I could get on my feet and get some emergency savings built up. At this point, I'm looking to get back on the Standard plan. Fast-forward to 2019. I now have an emergency fund, and a relatively stable job. My job is eligible for PLSF, but I've decided against pursuing that for two reasons: I've found that switching to IBR would actually involve a *higher* payment than Standard 10-year, and I simply don't want to deal with the very real possibility that DoE will deny my application on a technicality. However, I'm weighing the options, and I'm debating simply staying on the 25-year repayment plan, but pre-paying it on a 10-year amortization. If anything were to happen to my employment or life situation, I could simply revert back to the 25-year schedule I'm actually on, without worrying about the application being denied. Is there any drawback to doing this or "gotchas" that I'm not seeing? [link] [comments]  |
| Complicated Situation- Need Advice Posted: 20 Oct 2019 11:33 AM PDT I (26 F) just graduated from physical therapy school with about ~$190k worth of federal loans (yes definitely regretting going to a private school). My starting salary will be ~$70k with options to make more money on the side with PRN/per diem jobs. My husband (27 M) is current in dental school and will likely being doing a residency when he graduates (with a stipend of $50-$60k). His income will likely be $300,000-$500,000 and he will have ~$700,000 worth of federal loans. When he graduates, we plan to live off of my income and use his salary to pay off our loans with the avalanche method. Right now we are trying to figure out the best way to pay off our loans prior to him graduating. Currently, I have signed up for the IBR program but plan to pay off as much as I can per month (I'm worried I won't be able to consistently pay $2k per month in case of emergency, etc). Prior to my husband graduating, I will switch to the standard or graduated repayment plan. We believe we would actually lose more money being on an income based repayment plan when he is making his full salary. Thoughts? Suggestions? [link] [comments]  |
| Posted: 20 Oct 2019 11:28 AM PDT Hey there everyone. I'll keep this short. Stupidly joined online classes late in life and dropped out after a year and haven't messed with them since. I'm not proud but that's what they did. Anyways, I just saw on credit karma an alert about a missed payment and the account shows 0 balance. I assume the debt went on to a collection agency or something. Maybe it's something weird with credit karma. They've been taking my income taxes for years but I definitely don't want my checks garnished. It's over 5 years old and like, $15,000. Anyways to avoid eventually getting my checks garnished I'd like to start sending them small payments for now to get them out of default. I have no clue what my old information is not how to log in to anything to learn how to find who owns the debt. I'm definitely not looking to bounce around the Internet punching my ssn into random stuff. If anyone knows what I should do, please help. [link] [comments]  |
| Posted: 20 Oct 2019 10:24 AM PDT Im a 3rd year uni student, getting ripped off by my own dad/landowner, so im moving out because the rent is extortionate and going back to my mums house until i sort something, currently however i am still in my rented home, no food and no money i have had to turn to find a short term loan to pay back instantly on my next payday only 2 weeks away. i needed 100 and the only sites i knew werent fake already declined me simply because having a student overdraft makes your credit score drop. i dont want to be ripped off but i need money right now or ill just starve to death does anyone know of any reasonable lending sites i can try? [link] [comments]  |
| Refinancing Student Loans - Paying Lump Sum Posted: 20 Oct 2019 07:35 AM PDT |
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