Paid off my loans!!! Student Loans |
- Paid off my loans!!!
- Parent wants to help pay off student loans
- Where do I start??
- If my work is paying for school, will they take my student loan if I end up getting one?
- Can I pay a rehab payment early?
- Why does my loan show closed but current on credit karma?
- Question about the Snowball Method
- Direct and FFEL Loans (PSLF and IBR/PAYE)
- The cost of doing business
- PAYE vs REPAYE
- Refinancing - Exploring Options
- Charged interest, Changed my due date without prior notice
- Do I need to pay loans while in college if I get Sallie Mae emails saying I have a "Past Due" balance?
- Student loan SNAFU
| Posted: 10 Oct 2019 08:34 PM PDT Living at home with a 3-3.5hr round trip commute to work. Probably only went out once every 3-4 months. Bought cheap bench and adjustable dumbbells that were a pain to change weights with instead of gym membership. Still driving my beater as it approaches 200k miles. I don't think it really hit me yet. I don't feel any happier or sadder, but I probably will in a couple months when I look at my bank account. Just wanted to give hope to others. Just stick to your plan and you'll get through it. [link] [comments]  |
| Parent wants to help pay off student loans Posted: 10 Oct 2019 10:20 AM PDT Just wanted to get everyone's opinion on this: My wife and I have about 66k of student loan debt to tackle. Wife's mom was paying the minimum on two Sallie Mae loans (both above 10%). We consolidated w/ SoFi and now paying 4.2% interest (YAY). Wife's mom wants to continue helping out but I'm nervous about giving her the login information to our account. Any suggestions or anyone been through something similar? Thx [link] [comments]  |
| Posted: 10 Oct 2019 05:49 PM PDT I have unfortunately racked up A lot of student debt. 168k to be exact. I make close to 40k a year after taxes and thankfully live at home with my parents in New Jersey. Unfortunately, I have no idea where to start in terms of decreasing my student loans. My first loan is through Sallie Mae which total around 30 k. The rest of my loans are through Federal (Nelnet) loans. Currently i have not refinanced on consolidated any of my student loans. So basically I have 2 questions. Clearly I have A LOT of work cut ahead of me (I already know so try not to kick me to hard while im down). I have 2 question. Should I refinance/consolidate with a private company (i know you cant consolidate private loans)? Who should I contact within the New Jersey Area to help me make a financial plan for these loans. ... [link] [comments]  |
| If my work is paying for school, will they take my student loan if I end up getting one? Posted: 10 Oct 2019 12:29 PM PDT So my job, Walmart, is paying for school. Part of the agreement for them to pay for school is that I have to complete the FAFSA every year. I get some pell grant money (about 1k a semester) but Walmart takes that and just pays the rest. Does anyone know if I apply for a small student loan, will they take that as well? [link] [comments]  |
| Can I pay a rehab payment early? Posted: 10 Oct 2019 12:27 PM PDT I was about to get a perkins loan on rehab for 9 payments. I got my christmas bonus early this year and would like to apply it to one of those 9 payments as I'd like to get this over with by summer next year to apply for a morgage. Is it possible to pay one of these payments early or does it have to be spread out into 9 months? Can the collections agency do anything sneaky if I do try this? [link] [comments]  |
| Why does my loan show closed but current on credit karma? Posted: 10 Oct 2019 02:21 PM PDT I'm currently back in school. My loans have never been defaulted. They're currently deferred while I'm in school. I just got an update on credit karma showing that three or the loans are closer but in current status. I'm confused. *i just logged into navient and it shows my amount due is 0. And status is deferment. [link] [comments]  |
| Question about the Snowball Method Posted: 10 Oct 2019 08:41 AM PDT If my understanding of the snowball method is correct, I should be paying off the Loan with the higher interest rate first. If that is the case, while I am paying the higher interest loan off first, should I be letting the other loan accrue interest or should I be paying off that interest? [link] [comments]  |
| Direct and FFEL Loans (PSLF and IBR/PAYE) Posted: 10 Oct 2019 07:52 AM PDT My fiancé and I are getting married early next year and are taking the opportunity to make sure everything is in line with our finances (we already did a lot of this earlier this year when we bought a house together). I have a few questions about my student loan repayment plan. Some background: we are 29M/30F, I make $77K working at a university and she makes $85K working in biotech. I have the following loans left from undergrad and graduate school, and she has no loans: Federal Stafford Loan (10/30/08) - $3,508.95 principal/$17.06 interest $61,960.45 principal + $3,829.70 interest = $65,790.15 total I am on the IBR payment plan and given my university employment (which I plan to continue) have been doing PSLF, sending in forms every December. As of now on the FedLoan website, it says I have made 41 qualifying payments and have 79 remaining with an estimated eligibility date of 08/10/2025. I think those counts only update each year when they process your form, so I think that number is now 50 payments and 70 remaining. My questions: 1) Given that some of my loans are Direct (and PSLF-eligible) and some are FFEL (not PSLF-eligible), am I correct in thinking that once I have made 120 payments, the Direct Loan balances will be forgiven leaving only the Stafford loans remaining? I never consolidated, which was my mistake, but since I am already over 1/3 of the way done and the Federal Stafford loans are much smaller I am okay just paying them back in full, which I think I will have to do. Just want to make sure I am not inadvertently screwing myself and that I won't end up in a situation where nothing is forgiven because every single loan wasn't Direct. 2) Right now my monthly payment is $556. It goes up each year as I get raises, but since I got a substantial raise this past year and I'm still shooting for PSLF I'd like to keep the payment as low as possible. Based on what I think my AGI will end up being, it might go up to $632 next year. I'm on IBR right now since all of my loans are eligible, but if possible I think it could make sense to get on PAYE to lower the payments. But can I get on PAYE for some of the loans and not others (given that the first three FFEL loans are not PAYE eligible)? Not sure how much this would lower my monthly payment but since PAYE is lower than IBR and the non-PAYE loans are smaller, I think it would make an impact. Obviously this will all change again once we are married next year and we have to decide whether to do married filing jointly or separately, but that seems like a problem for a bit down the road. Right now I just want to make sure I am on track for PSLF and have the lowest monthly payment possible. Thanks in advance! [link] [comments]  |
| Posted: 10 Oct 2019 03:18 PM PDT So a lot of businesses have a minimum purchase to use a credit card because processing costs money. Is this the same for student loan servicers? Say I decided to pay my student loan in 1 dollar increments every month. Would this cost my servicers more money than my payment is worth? [link] [comments]  |
| Posted: 10 Oct 2019 08:50 AM PDT I will be graduating in December with about 40K in federal loans. I already have a job which will pay around 40K AGI. Ive been told by my school I need to do exit counseling and pick a repayment plan. Based on what Ive seen I think the PAYE or REPAYE repayment plans would be best for me. The total amount paid between the two plans in minimal. I was wondering if anyone had some insight as to which I should choose Id greatly appreciate it. [link] [comments]  |
| Refinancing - Exploring Options Posted: 10 Oct 2019 11:43 AM PDT I'm looking to refinance about $63,000 in private loans. I have more in federal loans, but I don't want to touch those right now because I qualify for PSLF. Want are you recommendations for refinance companies? I make about $35,000 right now (social work salary, only getting 32/wk for now). Also, do any of the refinance companies offer deferment for when I go back to grad school? I'm looking to go back in the next year or so. Thank you! [link] [comments]  |
| Charged interest, Changed my due date without prior notice Posted: 10 Oct 2019 07:57 AM PDT So originally my due date was in January 2020 but earlier this year they changed the due date to Jan 2024 on the nelnet website. I've been checking for the past 6 months and nothing has changed regarding that. I received an email today stating my 6 month grace period was over and accrued an interest of 180$. I logged in and they changed the due date to December 2019! Wtf!?? I plan on calling them later today after work and letting them know wtf happened. Will I be able to fight for the interest to be waved??Has anyone had experience with this? [link] [comments]  |
| Posted: 10 Oct 2019 07:19 AM PDT I recently got an email that said I have $50 in interest on my loans, of which apparently $25 is "Past Due". It's only $25, but I worry about things snowballing and getting harder to deal with down the line. Additionally I got an email for "Amount Due" of $109, but nothing past due and as far as I know no indication that the loan would need to be paid off during my time in college. I graduate in about 6 months, end of May, and it seems like the organization I intern with hires on a lot of interns for about 45-50k out of college. I can very likely pay off whatever interest accrues during this time, I just don't want to be in default or negligent. Edit: One is at 3.875% and the other (which has the $25 Past Due) is at 4.6%. [link] [comments]  |
| Posted: 09 Oct 2019 10:24 PM PDT I can't make sense of my student loans. It seems like every time I call I get a different story, it just depends on the person taking the call. A little backstory, I went to Nursing school and took out some loans. I worked for 5 years. Then I got really sick, for 5 YEARS, I had to have home health and IV therapy every 3 days, I almost died twice during that time. I was so weak physically. I deffered my loans as long as they would let me. Then I had them do an income based repayment plan. I couldn't renew it because the website had recently been updated and somehow my SSN was entered in 1 digit wrong. So it put me in a solid hold. The website had asterisks instead of being able to see the number you typed. It took months of calls to get this figured out as the problem, because no one could figure out what was happening. First they thought I needed to update from my maiden name to my married name. Tried that. Issue wasn't resolved. My SSN would get flagged and I couldn't submit any info. They recently updated their website and it has the feature to have your SSN be visible when it's typed, this is how the issue finally got addressed. Anyway, fast fwd to today. Now I am in better health. I might be able to work again, but I need to renew my license which includes me retaking the nursing licensing exam. (This is a 6 month study commitment and costs about a thousand dollars between test fees, a review course and study material/childcare.) The options I have left, according to one of the people at fedloan services, are to have my husband sign that he is responsible for my loan so I can re-apply for income based repayment however because I didn't renew the 1st IBR plan and am reapplying for it, it's a different version because it's my 2nd time. So I have to have my husband sign to be responsible or they won't finish processing the application. OR default on all of my loans. I have no more time allowed to deffer. I can't get a job as a nurse with out an active license. It will take time to get a license. Are those my only two options? [link] [comments]  |
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