Weekly Politics Discussion Megapost Student Loans |
- Weekly Politics Discussion Megapost
- Thanks to those of you who sent your student loan stories to death sex and money. The podcast is up if you want to listen
- Paid off $22,000 of private loans in 15 months
- Finally got a job...on IBR at $0....can I make "additional" payments against specific loans?
- Won my borrowers defense but not getting reimbursed??
- Going To College In The Spring - Help Me Make Good Choices
- $128k principal with $12k in interest
- Refinanced private loans yet Navient did not apply portion to correct loan
- Help a confused undergrad!
- What do I do if I can't afford the $50 to go into forbearance? (SallieMae)
- PSLF repayment while in PHD school.
- Government "subsidy" paying for interest on subsidized loan with Navient?
- Should I take out a student loan to buy a car?
- Paying off large portion of loans -should I refi with Sofi?
- My student loans are coming out of deferment next month. I'm absolutely terrified of what's going to happen.
- IDR request on hold, but on PSLF
- The student loan reps misled me, then lied to me.
| Weekly Politics Discussion Megapost Posted: 02 Oct 2019 01:06 PM PDT /r/StudentLoans is not /r/Politics, but student loans have a political component (especially this election season) and that deserves discussion! This is an automatic weekly post designed to host discussions about legislative proposals, candidate platforms, and other political topics relating to student loans. Posts and comments that fit these categories will be removed from other areas of the /r/StudentLoans community. Comments that only loosely relate to student loans should be taken to /r/politics or a similar sub and may be removed from here. Links to external websites or other subreddits must primarily relate to student loans. The rules of /r/StudentLoans still apply. Personal attacks, speculation about the motives or debt situation of other users, and unsolicited advice will be removed. This is also not a platform for specific political advocacy; this includes linking to petitions and soliciting campaign contributions. (This weekly aggregation post is an experiment. Please let the mods know your thoughts and if you have suggestions for improvement either by commenting here or via modmail.) [link] [comments]  |
| Posted: 02 Oct 2019 06:47 AM PDT I haven't heard it yet as I'm about to go into a hearing buy I hope you find it useful. https://www.wnycstudios.org/podcasts/deathsexmoney/episodes/betsy-mayotte-student-loan-death-sex-money [link] [comments]  |
| Paid off $22,000 of private loans in 15 months Posted: 02 Oct 2019 07:22 AM PDT Just made my final payment last Friday! Feels so good to have this weight off my shoulders. It can feel like a grind but it is totally worth it. Next step, those pesky federal loans >:) [link] [comments]  |
| Finally got a job...on IBR at $0....can I make "additional" payments against specific loans? Posted: 02 Oct 2019 03:01 PM PDT As stated it took months and months to find a job. Meanwhile I'm on IBR and payments are $0. I see I don't have to report my new income until recertification. Seems like a great opportunity to pay down specific loans with higher interest. Am I missing something? [link] [comments]  |
| Won my borrowers defense but not getting reimbursed?? Posted: 03 Oct 2019 01:37 AM PDT So, earlier this year, I called and actually got through to someone on the Corinthian College Borrowers Defense line. They essentially told me I won my case but due to the fact I no longer have a federal loan (I paid off wyotech but still have loans for IU) that they can't provide a discharge. So, what happened to getting reimbursed for the payments I already made? I shouldn't be punished for working my ass off and having to wrack other debts up just to pay off this one fraudulent debt. Has anyone else dealt with this? How can I receive compensation? Am I just completely out of luck? [link] [comments]  |
| Going To College In The Spring - Help Me Make Good Choices Posted: 02 Oct 2019 08:44 PM PDT I've applied for a community college in Texas with a high acceptance rate. I'm going to earn two degrees: An associates in business and an associates in cyber-security. I have spent a lot of time learning web development, and it is my goal to continue learning and gaining experience so that I can earn an income online, but aside from trying to get online web development jobs and possibly a work study, I don't have plans for a job. This means that I need to take out loans to cover the cost of living as well. I don't plan on having to live on these loans for long, but it is possible if I'm not able to get any work online. I am filling out FAFSA right now, but my parent's income is far too high to get much of anything, although they won't be able to help me out financially. They are married but living apart. My mom just bought a house and my dad's debt is ridiculous. So I need loans, and a lot of money in loans. What should I do? Which companies should I avoid? What can it cover? Student housing, utilities, groceries? I can drive for Uber/Lift/Amazon or some alternative on the weekends to pay for a car loan and insurance, but my main focus will be on gaining experience as a web developer. [link] [comments]  |
| $128k principal with $12k in interest Posted: 02 Oct 2019 09:10 AM PDT Hey guys, this is more of a 'need to get this off my chest' post than anything, but I needed to tell someone. I took out a small loan in undergrad for housing (~$5k) and then went on to get my PhD and that set me back another $123k. Being in a STEM field, my professors were adamant that their students could generally pay off six figure loan debts in a few years after graduating. Being relatively naive, I trusted them and took the loans I needed to cover my expenses. I maintained a budget and watched what I spent, but the stipend offered was insufficient to meet my financial needs. We also weren't allowed a second job. Anyway, I graduated in 2016 and couldn't find anything that wasn't part time for two years, so my loans amassed $12k in interest. Now, I have a real job and I'm currently paying $800/mo just to keep the interest in check. This year, I've paid $8000 just to see my interest decrease by less than $400 and none of my principal decrease. Has anyone else been in a similar situation? Any advice? [link] [comments]  |
| Refinanced private loans yet Navient did not apply portion to correct loan Posted: 02 Oct 2019 03:18 PM PDT Any advice would be appreciated. I refinanced with SoFi recently and they sent payment last week to Navient. I have 4 private loans and refinanced 3. The 4th one had a low balance of $1000 which I planned to pay off myself versus adding it to the refinance total. SoFi was aware of this fully and sent documentation with payment to Navient stating which loans were to be paid off. Of course like clockwork, these morons at Navient put a 12k payment portion towards this 1k balance loan leaving it in negative 11k while the other loan still shows a full 12k balance. The other 2 loans were properly paid. I called them twice today to get this resolved. First dude was an idiot who told me it was still in process even though the payment clearly posted. Kept repeating the same script to me and not understanding my issue. I call again and the next person actually tries to help and puts in some sort of request. I then logged in and sent an angry detailed email via the website email us option. I'm exhausted dealing with this crap company. Does anyone have any further guidance so I can get this resolved? [link] [comments]  |
| Posted: 02 Oct 2019 09:16 AM PDT I'm planning on going to university, starting 2020. I am from the UK and currently reside is Wales. I am planning on living away from home but outside of London. My household income is roughly £70,000 a year. What's the maintainence loan + grant I will receive for the year? [link] [comments]  |
| What do I do if I can't afford the $50 to go into forbearance? (SallieMae) Posted: 02 Oct 2019 11:48 AM PDT Hey everyone, I left my job months ago as I'm dealing with severe anxiety and depression and finding it very difficult to get back on my feet. My SallieMae bill is due tomorrow and I don't have the money to pay the loan, so I plan on calling to continue the forbearance (been on it for 3 months). The issue I'm having is that SallieMae requires a $50 good faith payment to go into forbearance but I don't even have that. My family is broke so they can't afford to help either. Has anyone been in this situation before? What do I do if I can't even afford to go into forbearance? [link] [comments]  |
| PSLF repayment while in PHD school. Posted: 02 Oct 2019 11:40 AM PDT Hi all, I am pursuing a doctorate and have been working in an eligble employer for the past year. My employer has signed my application and verified full time employment. All of my loans are Direct Loans, and all are through Nelnet. I am scheduled to be on the REPAYE IDR payment plan. Can I begin the payment process while still in school and still accruing Direct loans? I have maybe 2 more years until I am finished. (Repost r/pslf) [link] [comments]  |
| Government "subsidy" paying for interest on subsidized loan with Navient? Posted: 02 Oct 2019 10:12 AM PDT I have two loans with Navient. One of them hasn't accrued interest in a year. It's a subsidized loan, so I didn't think much of it until I realized my loans with another servicer have been accruing interest since whenever ago. When I spoke to this other servicer (Nelnet), they said all student loans accrue interest. They said the only way for subsidized loans to NOT accrue interest is if you're in school or on a Revised PAYE (I'm on IBR). Navient claims that being on IBR means the government pays the interest on my Stafford Subsidized loan. I'm so confused. Who's telling the truth? I'm concerned that Navient is making a mistake or doing something shady that I'll ultimately be responsible for. [link] [comments]  |
| Should I take out a student loan to buy a car? Posted: 02 Oct 2019 07:51 AM PDT |
| Paying off large portion of loans -should I refi with Sofi? Posted: 02 Oct 2019 07:41 AM PDT I have 134k in loans. I'll be having 100k of this paid off as a gift. The remaining 34k would be a combination of a few loans between 5-6.8% interest. I read that Sofi offers 5 years plans, that seems to make sense given than 34k is a rather small amount of change... do the 5 year plans stick pretty close the advertised 2% interest rate? Wondering it its worth it to refinance federal loans or just pay extra every month. Credit score 820, income 150k+. [link] [comments]  |
| Posted: 02 Oct 2019 07:09 AM PDT So I just reviewed my anticipated student loan payments… Apparently they have me scheduled to pay roughly $2004 a month?? There's just absolutely no way I could do that and continue to live. I'm nervous about even being about to start paying next month, let alone at that high of a cost. Here's some info about my situation: INCOME I started working at a law firm in the middle of August. My yearly salary is $60,000. My take home pay after taxes is $1725 every two weeks, so $3450 per month. MONTHLY EXPENSES Fixed Rent/Utilities: $725 Internet: $25 Cell phone: $80 Car insurance: $80 STUDENT LOANS Law school: $163,900 (All government/terrible interest rates ranging from 4.5-7.8%) undergrad: $26,519 ($14,945 of that is private from Wells Fargo)(interest rates range from 4-6%) Bar study loan: $8,150 (Private from Sallie Mae–my now wife and I took this out together, so technically I only owe half of this, but my name is on the loan so I consider it as mine. We needed it because we had no other way to live after graduation while we studied for the exam, and my credit cards were already getting out of control. This isn't becoming due until December) Total = $198,569 I hate student loans. I hate the predatory way they get you. I hate this. I don't know what to do. [link] [comments]  |
| IDR request on hold, but on PSLF Posted: 02 Oct 2019 02:41 AM PDT Hello there, I'm about to hit my 5 year mark (halfway!) of PSLF. I've been on time with re-certifying (mid-September), but this year, I got wrapped up with work that when I realized that I needed the documents into Fedloans on 09/27, I did it so immediately. StudentLoans.gov got my application to recertify on that day, but Fedloans received it the next day. I was looking at my last recertifications and they all were around mid to late September. I got an email today stating that my IDR request is on hold until they generate October's bill. What I'm thinking is that I'm kicked off that month until they process the request. It's on me that I get it that I was late and I should have expected admin processing times. I would like my best course of action. I am on PSLF, and I plan to work in my sector for the rest of my life (government). However, I would like October's payment to count towards PSLF. Should I ask for any kind of deferment, forbearance (not a fan of that but I get that my options are limited), or anything else? I have federal loans only. [link] [comments]  |
| The student loan reps misled me, then lied to me. Posted: 01 Oct 2019 05:11 PM PDT I was unemployed for about 3 months, and chose not to go into forbearance because that is an automatic fine of $600 on top of what you owe and as interest grows. I chose not to pay. I finally got a new job at the end of August, higher paying too, and started immediately saving to make a payment. At the end of September (23) I made a payment on a single loan - fulfilling the debt and deleting that single loan. The next day I called in and asked about my delinquency date, as I was reaching the 90 day period before credit reporting. After speaking with a rep I was told I reduced my delinquency to 55 days. Remember that number. The reason that number is so important is because I have loans lettering from A-K. I just paid letter E. While all other loans would continue to be delinquent, letter E was fulfilled. However was told I am 55 days delinquent, but how can you delinquent on a loan that does not have debt? Am I crazy to believe that that single statement means the account in totality is 55 days delinquent? I was misinformed and manipulated with omitted information. Today I got an email saying I was 90 days past due and am now delinquent. I called in and was first met by Will, who read the notes in their CRM and said that it was recorded in the note left by the rep on sept 27 that I was 55 days delinquent on said day. He claimed that although I was told that, I should have looked online and essentially it was my fault for the confusion. I asked to be transferred to his immediate supervisor. Will sent me to Pamela, an account manager. She gave me the run around and said that Will's supervisor was not available and that she was who i should speak with. She said she couldn't help me. Pamela would not give me her id number or any way to identify her, so on to the next person. This is where I get infuriated - Heather Nieto. To start this I told Heather that I was recording the call - I was not - but it's a trick to force honesty (which didn't work). She reviewed the notes and stated that "55 days" was written down. Then as I continued to challenge that I was misinformed and provided incorrect information she started to lie to me and say that 55 was not written in the notes. I asked where that number came from and she said she didnt know. She said that its a number I made up and gave to Will, who told Pamela, who told her. I went to the next person, John Olive. John was great. Followed the logic - told me that the number 55 is indeed written in the notes, and provided me solutions and informed me that you are not reported to the credit bureau until 30 days after that 90th day is hit. He tried to either have me take that payment to loan E and apply it across the loan, or remain delinquent, I chose the former and will pay this off on the 15th at my next pay period. TLDR: I hate nelnet. From now on I will be recording all calls with them, getting all identification information, writing notes, and asking as many questions as I can. I hate my student loans. [link] [comments]  |
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