I’ve paid off 3 student loans since August. Student Loans |
- I’ve paid off 3 student loans since August.
- Senior in college $100k + in loans what do I do?
- Consolidating Cosigned Loans
- Student Loan Refund
- EdFinancial Excess Payments?
- Recent college graduate, found out parents have 500k in debt?!
- Grace period ending, paying off highest interest loan vs interest thats going to capitalize?
- Refinancing private vs federal loans
- Nelnet status still in school after graduation
- Forget about your debt
- Loans For International Students
| I’ve paid off 3 student loans since August. Posted: 06 Oct 2019 08:58 PM PDT Granted, they were all small loans (one $1000, one $1100, and one $1800). I work making $19/hour and transitioned to a different role where I'm doing pretty much the same thing but the bonus structure is better. I get about $1500 In bonuses every biweekly pay period, and I work a ton of overtime, and all that money just goes to my loans. When I started my student loan payoff journey, my income-based repayment plan estimated that I'd pay everything off my 2039. But with these $1500 biweekly payments, I'm looking closer at February 2021 to be debt free 😊(assuming it all goes according to plan of course) [link] [comments]  |
| Senior in college $100k + in loans what do I do? Posted: 06 Oct 2019 12:44 PM PDT As the title suggests I am a senior in college about to graduate and I'm look at over $100k+ ($2000 monthly) in loans. Most are under my mom's parent plus loan and about 20k are my own federal loans. I am really anxious about making payments and don't really know where to begin. My goal is to be debt free as quickly as possible but right now I'm looking at 10 years. Is there any advice, tips, and overall help you can give me so that I avoid any huge mistakes? Thank you in advance! [link] [comments]  |
| Posted: 06 Oct 2019 07:12 PM PDT I cosigned my girlfriend's Grad PLUS loan, and I'd like to add it to the loans I consolidated from when I was a student. Is it possible to do this? If so, how? [link] [comments]  |
| Posted: 07 Oct 2019 02:17 AM PDT I'm a college dropout, a failure. I dropped out before starting my second semester of school last year and I wanted to know if I was eligible for a refund on the loans I'd taken out for that semester that I didn't attend. To go more in depth, I'd taken out loans (consisting of federal subsidized/unsubsidized and parent plus) for both semesters in advance, but only attended school for one semester. Is it too late to file a refund for the semester that I didn't attend? Thanks in advance. [link] [comments]  |
| Posted: 06 Oct 2019 08:37 PM PDT My husband's loans are serviced through EdFinancial, and he is in IDR (REPAYE). I am setting up KwikPay, and there's no way to pay above the required amount? Alternatively, how do we set up excess payment preferences? Mine are serviced through Great Lakes and their website is so much more user friendly. [link] [comments]  |
| Recent college graduate, found out parents have 500k in debt?! Posted: 06 Oct 2019 04:11 PM PDT Turning to reddit because I have no idea what to think and I am just completely stumped. I'm using a throwaway because I am so embarrassed and I don't want to identify myself too much with my past comments history. Note*: All currency figures will be in USD for consistency. I come from a South East Asian household and my parents always worked hard to put my older brother and I through education. Unfortunately, this also meant they put themselves in a very difficult position. My father makes the equivalent of around ~$200k USD now and putting two kids through college (and taking care of his ailing parents) at the same time put him up to $500K in debt some way or another. He said he thought of it as an investment because he assumed we would make enough to help him pay back the loan after graduating. I knew my dad couldn't afford to pay for both me and my brother's education so I always asked him how he was affording it, but he would always brush it off saying now is not the time to worry on finances, work on your studies and live your college life. I assumed there was some sort of inheritance or something from my grandparents but turns out my dad was just financing it from personal loans and credit card debt (yes unfortunately ~$100K out of that 500K is from credit card debt right now...) I know a few people might say at this point my dad did this and is not my responsibility to fix if my dad didn't tell me about it before, but I will 100% be working together with him to figure this out so let's assume that is not a possibility. He has suffered a lot and went through very difficult phases in his life he did not have to go through just to help me and my brother achieve a world class education so helping him or not is not up for debate for me. The info I have right now is the following:
Thankfully, my brother and I were both able to get decently paying jobs out of college and as of now our salaries are:
I found out about the total debt figures for the first time yesterday. I assumed the number would be in the 100's and honestly thought it would top out at around ~200k, but half a million dollars is just beyond my imagination and I could hardly breathe when I found out. Moving forward, I know we have to get rid of that credit card debt as soon as possible and then work towards the bank debt, and I wanted to talk through my options. A few extra facts: I am a Canadian citizen, graduated from an American private college this May (2019), and am currently working in the US with an OPT visa, applying for the H1B. My brother also attended an American private college a few years ago, but is working in Asia. Question is: how much debt can/should I take out at what % and from where to help refinance the high interest rate credit card my dad has in Asia? Is it at all possible to take out Student loans after I graduated this past May? Does being Canadian exclude me from these programs? I may have missed a detail or two because I am freaking out but I would appreciate any sort of advice. Thanks in advance if you were able to read through all this. TL;DR: Canadian citizen recently graduated from American college (this past May), dad in Asia has 500k in debt and I want to help refinance to a lower cost of debt with more favorable terms. Is it possible to take out student loans under my name (~100k worth)? Is this 500k in debt going to haunt my family for decades to come? [link] [comments]  |
| Grace period ending, paying off highest interest loan vs interest thats going to capitalize? Posted: 06 Oct 2019 07:52 PM PDT Hi all, My grace period for my student loans are about to end. I have multiple loans at multiple interest rates. My plan is just to pay off the highest interest rates one by one. I plan on doing the REPAYE method so I can use as much money as I can each month to pay off my highest interest rate loan. My question is, I have a good chunk of money right now that I want to use to help pay off my loans. However, the interest from all my loans is going to capitalize. The right move right now is to still use my money on the highest interest rate loan, and to let my lower interest loans capitalize right? [link] [comments]  |
| Refinancing private vs federal loans Posted: 06 Oct 2019 07:29 PM PDT Hi all! I'm wondering if you can point me in the right direction on this. I have both federal and private loans through Navient. I want to refinance only my private loans because I don't want to lose the benefit of income driven repayment or loan forgiveness on my federal loans. What's the best way to go about refinancing only my private Navient loans without touching federal? [link] [comments]  |
| Nelnet status still in school after graduation Posted: 06 Oct 2019 03:02 PM PDT I graduated my college 5 weeks ago, however Nelnet saids I am still enrolled until 5/29/2021. Could this be a mistake and I should start preparing for repayment asap as the grace period will be corrected to the proper 6 months after graduation? Any help would help, thanks [link] [comments]  |
| Posted: 06 Oct 2019 10:58 AM PDT Debt is a very stressful thing and it's not worth stressing about since you already made the decision to borrow money. When you setup automatic payments on your loans and forget all about them, life is so much better. I'm all paid off with my student loans and I forgot all about being debt free. Debt is always temporary and it's not worth stressing over. Setup autopay, forget about it, and go on with your life. It'll feel just as good as when you're out of debt. Stress and overthinking isn't healthy, nor is it worth your time and energy. [link] [comments]  |
| Loans For International Students Posted: 06 Oct 2019 07:23 AM PDT Hi Everyone, Does anyone know any loan company in the UK that provides loans to international students? Other than Future Finance. [link] [comments]  |
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