New physical therapist with 250k student loans: please help Student Loans |
- New physical therapist with 250k student loans: please help
- Looking for some help, new to this
- confused about monthly IBR payment being zero
- Should I apply for a student loan?
- Consolidation after garnishment
- Shady Navient Customer Service Rep Advice for IBR
- Private Loan and Statute of Limitations
- Stuck with 30k loans left, payments barely making a dent.
- After 3 years, I’m officially only 20% paid off...
- If I am already financing a car, can student loans (government) be used legally to pay the monthly payments?
- Advantages to Not Refinancing?
- Overseas UK loan, need help
| New physical therapist with 250k student loans: please help Posted: 11 Oct 2019 03:03 PM PDT Hi all. I'm in a bit of a desperate loan situation and I am not well versed in financial literacy so I was hoping for some advice. Some background. I have Abt:. 195k Federal loans:. Current job. Expenses (Inc only rent, utilities, insurance, car, loans = abt 4500/month. I am planning to go to Wells Fargo in hopes of getting some loan counseling to see Abt refinancing/consolidation. I do work at nonprofit hospital so there is federal forgiveness after 10 yrs of loan payment plus employment. But I think I will need to refinance my Federal loans or something in order to survive. Any help would be appreciated. Pretty fu ked right now, I know I need to refinance somehow, Hopi g for a glimmer of hope here. Thanks [link] [comments]  | |||||||||||||||||||||
| Looking for some help, new to this Posted: 11 Oct 2019 09:02 PM PDT Here goes. I'm in mobile, so sorry if my format sucks. I graduated high school in 2009 and went to a private college. I took out several loans to pay for it and my parents took out a PLUS loan on my behalf. I only stayed there for one year and dropped out due to personal issues. I ignored my loans for the next several years until they sent me letters saying I owed the full balance or they would take me to court. They gave me the option to consolidate to avoid it. So I consolidated with what is now Navient. I have a Direct subsidized and a Direct unsubsidized loan, totaling $13,325.96. I am finally in a position where I can stop deferring my loans. I made my very first loan payment in September, after 10 years of ignoring them. I am looking at going back to school to finish my degree. I don't make enough to pay for schooling outright but I make too much to qualify for grants. So I'm faced with having to take out more loans. For reference, my income is about $42,700/yr. I live with my boyfriend who pays all the utilities and mortgage. I also have a $10,000 personal loan I used to purchase my vehicle from my ex husband, and two credit cards that are both almost maxed out, totaling about $1300. I have approximately $6000 in medical debt. Should I take out more loans to go back to school? Focus on aggressively paying off what I have now? [link] [comments]  | |||||||||||||||||||||
| confused about monthly IBR payment being zero Posted: 11 Oct 2019 05:14 PM PDT So I just graduated this past May and landed a fulltime job in September at a nonprofit... I plan on doing the PSLF program, so last week i filled out the application, it asked for my last year tax return through the iRS website and i linked it (did not have job last year obv since i was in school fulltime). I just received notification that my monthly payment is 0$. I searched the forums and see these technically count as "payments" toward the 120 (can anyone confirm this?). My question is, is the $0/month payment correct even though I now have a job with a median income and could afford to make the 10% payment, or is this how it usually is the first year? Just want to make sure i have everything on track initially to qualify for PSLF in 10 years. [link] [comments]  | |||||||||||||||||||||
| Should I apply for a student loan? Posted: 11 Oct 2019 08:47 PM PDT Honestly I've heard so many nightmares about student loans, I go to a community college for nursing so it's very cheap and everything I covered with aid. I'm considering taking out a subsidized student loan for $3000 this semester and $3000 next semester. Can I pay it off in the summer when I work full time? What is your outlook? [link] [comments]  | |||||||||||||||||||||
| Consolidation after garnishment Posted: 11 Oct 2019 12:56 PM PDT Hi all, I have about 17 student loans that are currently in repayment, and I learned that I have 2 in default in March. I've already rehabilitated once, so I'd like to get the 2 I have in default out of default as I've just been hit with a wage garnishment. The garnishment will start on my next paycheck. I've already applied for the consolidation with Navient, and the consolidation I've requested is based on the IBR plan. I was looking around the internet to see how I went about getting the wage garnishment stopped, and I am not getting conflicting information as to whether that's possible with the consolidation. It appears some websites believe my consolidation may be rejected because of the wage garnishment order being in place. Others say that if I have requested consolidation under the IBR plan, those loans will be included in the consolidation. Any help that could be provided here would be fantastic. Thanks so much in advance. [link] [comments]  | |||||||||||||||||||||
| Shady Navient Customer Service Rep Advice for IBR Posted: 11 Oct 2019 10:27 AM PDT I was wondering if anyone else has a similar experience of the (I think new) vague wording when filling out IBR re-certification paperwork. I used to have to write a letter every year promising I'd let them know when I got a job. The past two years have been varied as far as income, but still nowhere near anything that would disqualify me from a $0 payment. I'd be happy to describe how I found myself without a copy of my taxes from last year etc. etc., but I think it would be even more of a tldr situation than now. So anyway: I called, and the rep told me to answer YES to the question about "significantly decreased" income since, even though the right answer to that question is: no, it's actually slightly and insignificantly increased. That way I can answer the next question (which if I had my tax forms and answered the previous question accurately I would be skipping) accurately, which is that I'm not "currently" receiving income. That way I wouldn't have to send in my tax forms. I double checked with her on the phone and used the words "Lie" on one question so I can tell the "truth" on the one I would normally skip. She said yes, and also confirmed that I don't have to write a letter anymore as well. The letter was always my failsafe against anything vague on the form. ALAS, there's the constant reminder, specifically reiterated in that section: "Remember, any person who knowingly makes a false statement... fines, imprisonment, or both" And if you're following at home, it's on page 2 of 10, Section 4b, questions 11 and 12 that I'm referring to. Anyone have this kind of experience, where Navient person knows the form is not great, so the answer is just LIE in this kind or any other kind of question? Am I embarrassingly naive for even being concerned about this? And secondarily, how would you proceed? The deadline is soonish, but I wouldn't be completely opposed to essentially doing my taxes over and sending a copy in, but they weren't as straight-ahead as they usually have been, especially with the shitty new forms, so I also wouldn't mind saving the time and aggravation of dealing with that again. Thanks for reading! [link] [comments]  | |||||||||||||||||||||
| Private Loan and Statute of Limitations Posted: 11 Oct 2019 06:31 AM PDT I took out a Private Student Loan out in 2007. Since then, I had initially no way to pay, and then did not address this loan in any way since then. I had heard nothing from the company for the past 12 years. Fast forward to this week and I get a letter for collections on that loan. I did some initial reading, and it appears that the SOL for private debt in my state has passed, but I am not 100% sure. The question that I have is: Being that I have not had any contact nor made any payments on this loan in 12 years, and there has been no action taken so far, what are my options here? Can I ignore the notice (and dispute if it shows up on credit report)? If they sue, can I respond with it being outside the Statute of Limitations to get it dismissed? Or am I misreading the laws regarding debt? I took the loan originally in Ohio, Live currently in Ohio, but did spend several years in 2 other states during the interim if that matters (approx 1 year in PA, and about 7 in CA, back in OH 3 years ago) [link] [comments]  | |||||||||||||||||||||
| Stuck with 30k loans left, payments barely making a dent. Posted: 11 Oct 2019 12:12 PM PDT Hello there, I graduated back in 2017 and deferred it off for about a year due to job search. Landed a job paying around the 40k range and initially started at minimum payments without any knowledge. I now pay around $350/mo but seeing how it'll be for the next 10 years, that doesn't seem good to me. I typically put around 10% to savings and also pay rent close to 800/mo. What should my next steps be? Stay at $350? Increase monthly? Knock out the highest interest rate first? I have a good cushion in my checking account to chuck into a 2-3k payment but I need insight and better knowledge from you seasoned vets. I've included some info below:
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| After 3 years, I’m officially only 20% paid off... Posted: 11 Oct 2019 05:29 AM PDT I have the misfortune of managing my loans through Navient, and I chose the repayment plan that increases my rate every 2 years and lasts a total of 10 years. I think this was the normal Graduated plan? I can't find that as an option anymore, though. My income has risen more than I'd anticipated when I intentionally chose this plan, and i've started to make substantial overpayments. A month or two of doing this has led me to a question. It's been rehashed plenty here, whether or not to take the avalanche or snowball approaches, but I wonder if there are exceptions. For example, my two highest-interest loans combine for about $12,600 at 6.55%, whereas my highest-volume loan is about $17,900 at 5.96%. I've done the math on these, and the higher-volume loan is generating more interest annually than the highest-interest loans do combined. Am I wrong to want to overpay towards that 5.96% loan until they're more even? As of now, the difference is about $220 of interest a year. [link] [comments]  | |||||||||||||||||||||
| Posted: 11 Oct 2019 08:31 AM PDT Basically, the question is in the title. I know "transportation costs" are covered, such as gas. But, I'm still making payments on a car I purchased 2 years ago. Can I use loan money to continue making those payments? I know it's not suggested to use that money to buy a car, but I already did. As you can see, I'm making a good faith effort to not use the money for unapproved purchases. Thanks! [link] [comments]  | |||||||||||||||||||||
| Advantages to Not Refinancing? Posted: 11 Oct 2019 05:12 AM PDT $95,000 in loans at average rate 5.64%, $150,000 annual salary, single. Out of curiosity I looked into refinancing and was offered 5 years @ 3.49% or 7 years @ 3.975%, both with a cash bonus for refinancing. I was planning on putting down enough to pay it off in 5-6 years so this aligns nicely with my goals. I've been thinking of going for the refinance but I was wondering if there were any specific benefits to not refinancing that I may not have considered? Note: I do not qualify for PSLF and I will not qualify for IBR after 2020. [link] [comments]  | |||||||||||||||||||||
| Posted: 11 Oct 2019 03:59 AM PDT Hello, I want to repay my loan as I finally got a steady job. They say that in order to repay I need to make above 1577 pounds a month. I'm my country I make 850 euros a month so I can't start to repay. If I want to repay I can only do so voluntarily. If I start sending them small amounts every other month, will the interest get lower as my amount goes gradually down? It's a slc loan BTW. [link] [comments]  |
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