Weekly Politics Discussion Megapost Student Loans |
- Weekly Politics Discussion Megapost
- Have neglected my loans entirely and I'm afraid. Please give me some guidance.
- Debt repayment? Which way Should I pay it back?
- I’m fine with my repayments and want to focus more on having emergency funds.
- My mother wants to transfer the rest of my 529 to her retirement
- Last resort options - Denied Sallie Mae w/Cosigner
- Required to pay federal loans while still in school?
- Part-time work = pay loans? (NYC)
- Loan company not using my AGI for my IBR payments.
- Dropped out before midsemester
- Interest rate increase on federal loans?
- Help!
- Student loans reporting as late... but they aren't
- Lump Sum Payoff Questions
- 50k in loans
| Weekly Politics Discussion Megapost Posted: 16 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]  |
| Have neglected my loans entirely and I'm afraid. Please give me some guidance. Posted: 16 Oct 2019 04:01 PM PDT I'm not here for pity or anything. I know I'm up shit creek without a paddle and I just want to know what I might have in store for me. I went to college almost a decade ago on loans, left because of mental health issues. Between then and now I've focused entirely on difficult personal life issues because I had to deal with those problems before I could deal with anything else in life. I've entirely ignored my loans in the meantime. I know this is the stupidest thing a person could do. I haven't been able to make payments all these years because I haven't held a job and had no income. I even stopped checking my loans/communicating with my lenders because I was so depressed that I just said, "Fuck it, I know I'm screwed so I might as well not bother at all." Again, I know what I did was stupid and reckless, and again I'm not looking for pity. I've worked through my issues over the years and I'm ready to face what I've neglected, but I'm still afraid of what I'm going to face.
I can accept anything else. I can accept them taking a cut from my paycheck or whatever else. Those are the only two things that frighten me. I live in Minnesota and I don't know what the laws regarding debts are here. Be blunt with me. I want the truth even if it's frightening. What am I likely to face? What should I do now? [link] [comments]  |
| Debt repayment? Which way Should I pay it back? Posted: 16 Oct 2019 08:10 PM PDT I currently owe $27,560. I have a job making roughly $35,000 a year. Right now my payments would be $360 a month. However, with a mortgage and other bills to pay, the student debt would leave me with little to no profit a month. The good news is though is that I have around 30k saved up, so I could pay it off full any time. I know that isnt ideal, but I was thinking of maybe putting 15k down? That way I still have a rainy day fund and my payments would be about 166 a month? And then maybe put 5k on my car so my car is payed off and i dont owe $138 a month anymore either? Then have 10k savings Any thoughts/advice? [link] [comments]  |
| I’m fine with my repayments and want to focus more on having emergency funds. Posted: 16 Oct 2019 07:22 AM PDT I finished University in the summer of 2018 & I immediately started paying towards my balances. I originally started out with a little under 20k in Private Loans that stayed around 11.125 variable interest rate. & one Great Lakes loan that was a little over 9k at 3.625 fixed. I was able to refi my high interest loan this past August and got my interest rate down to 5.84 fixed. I've made significant progress considering I just got a pay raise at work to put my salary at a little over 35k (I had a pretty general/liberal arts major). The only other debts I have is about 1900 in credit card debt that doesn't have interest kick in until May 2020. I have set up payment/avalanche method that will help me get out of these debts by 2025 at the latest. (2 years before my loan terms were up). Is it foolish of me to work more towards saving up for a car (my old one is paid for but it's old so I want to be prepared) and having a better emergency fund instead of throwing all my spare money into getting out of this debt? [link] [comments]  |
| My mother wants to transfer the rest of my 529 to her retirement Posted: 16 Oct 2019 03:08 PM PDT So I took dual enrollment classes in high school a t the local community college. My mother had to lay for them out of pocked because our county didn't cover them, however I only took 46 credits and they where half price because I was in high school. The entire time she told me she was using the money from a part of the 529 she set aside for my books. I never intend to finish school early, I just to the classes to show that I could succeed in challenging courses. But she wants me to stay at the state school I am at, keep the major I don't want, and finish in a year from now. I am playing on transferring to a better school, but I need the 529 for the remaining 3 years. But she want to take the last year for her retirement because she feels she deserves it for driving me to classes for 2 years. Is this legal? I think it is in her name, but my father contributed to it substantially. [link] [comments]  |
| Last resort options - Denied Sallie Mae w/Cosigner Posted: 16 Oct 2019 07:30 PM PDT Hi all, I have been getting my student loans from Sallie Mae since I started college and now I'm less than 50 days until graduating and I'm barely short on tuition (short $600). I submitted an application with my usual cosigner for their minimum of $1000 and was denied. My dad didn't do his part of FAFSA this year so I can't get federal assistance or help from my school's financial aid office. I don't have good credit and I don't know what to do. Any advice welcome. [link] [comments]  |
| Required to pay federal loans while still in school? Posted: 16 Oct 2019 07:26 PM PDT So back in 2015-2016 school year i took out 2 federal loans for a uni i dropped out of after my second quarter there. I have since been attending a different uni and am expected to graduate in spring 2021, however the grace period for the loans are about to end. I thought federal loans didn't have to be payed back till after graduation. Before i dropped my previous uni, i was expected to graduate in may 2019 but obviously it has been delayed. I went to community college for 3 years and will now spend 2 more at a state school so my graduation has been delayed by 2 years, for a total of 6 years to get a degree. Are federal loans supposed to be payed back 4 years after you accept them, or can the due date be extended if you spend more years in school? [link] [comments]  |
| Part-time work = pay loans? (NYC) Posted: 16 Oct 2019 06:05 PM PDT Hey guys, I graduated from college and am having trouble finding work at the moment. I'm currently in my grace period for my student loans (sub+unub+ParentPlus). Since I cannot find full-time employment at the moment, I just started working part time at a food service place to make some pocket money. I've only worked one day so far, but am now concerned that I might have to begin paying my loans if I start making money and paying taxes. Is this how it works? Or can I continue to work with my grace period? Thanks a lot guys! [link] [comments]  |
| Loan company not using my AGI for my IBR payments. Posted: 16 Oct 2019 04:40 PM PDT Like the title says, my student loan company is not using my AGI for my IBR. My AGI is currently zero. I live abroad. All of my income is foreign exempted. (Should this matter? Is there somewhere I can look up the specific rules/laws that should apply?) As I am about to renew my IBR for next year, I did the automatic IRS file transfer, but they asked for proof of income. But shouldn't this be based off of my AGI? Last year, I submitted a proof of income form, and they based my payments off of my income number. I don't feel like I should be paying this much. I don't want to submit proof of income from my employer because I know if I do that they won't use my AGI. Additionally, to make things slightly more complex, I had a significant amount of investment losses last year. These show up in my AGI and on my tax forms but they wouldn't in anything my employer would send. Thoughts/advice? [link] [comments]  |
| Dropped out before midsemester Posted: 16 Oct 2019 11:37 AM PDT I dropped out of my first semester of college before the middle of the semester due to personal reasons. I was wondering between my private loan and federal loans what happens? Like will I still get a grace period? Any help is appreciated!!! [link] [comments]  |
| Interest rate increase on federal loans? Posted: 16 Oct 2019 12:56 PM PDT Anyone notice an interest rate increase on their federal student loans? Perhaps I need to read the fine print, but I thought federal student loans were at fixed rates. Since I started paying last year, my loan groups were at 5.0% and 5.75%. Now they're at 5.31% and 6.0% respectively. [link] [comments]  |
| Posted: 16 Oct 2019 08:40 AM PDT Hey, I have a question, so I took a loan through my school for summer courses. So I went to NSLDS to check out all my past loans from the last two years in school. Overall I can only see my fall and spring loans from 2018-2019 and my loan from 2019-2020 school year. However, It shows nothing about my summer loan, and I'm wondering if anyone can help me or give me any advice on this. I'm just trying to find that summer loan because I don't want it to mess me up in the future once i graduate. [link] [comments]  |
| Student loans reporting as late... but they aren't Posted: 16 Oct 2019 06:39 AM PDT Hey All, So I just checked out my credit score for the first time in a couple months, and my TransUnion score has been absolutely tanked by an unpaid student loan being reported by my university beginning in July. I graduated in August of 2018 and have made every payment on time (or early), so I'm a little confused how I could possibly be reported late. I *did* change my payment method to income-based in July, which makes me suspicious that the amount I'm paying is either incorrect or it is being reported incorrectly. The unpaid loan amount is $5,500. It's just one of many loans on my account, every other one is fine. It shows all payments on the loan prior to July as being on time. Equifax reports my loan payments as on-time and doesn't even show my university as a creditor, so I'm extremely confused. It does show a $5,500 loan account belonging to Fedloan that hasn't been paid on since July, but it isn't reported as late. I've been making by payments each month. Has anyone experienced anything similar to this? I've contacted my university and am waiting for a response. [link] [comments]  |
| Posted: 15 Oct 2019 08:55 PM PDT My wife has about $58k in school loans across 10 different loans with Dept of Ed/Navient. We recently came into a large lump some of money and want to pay them off in full. Do we have any leverage to negotiate a smaller payoff amount? Are there any other 'outside the box' strategies to reduce the overall payoff? Hire a lawyer? Let them default and then deal with collection agencies for smaller payoffs, tanking her credit score for 7 years? It may be worth noting that a large chunk of these were from University of Phoenix. We haven't submitted a BDAR request for UoP because we didn't think we could produce enough physical documentation, but at one point she recalls trying to quit and they basically shamed her into staying in the program because they told her "it will be hard to amount to anything without a degree." Anyway... Looking for your opinions on how to best proceed to reduce the overall payoff. [link] [comments]  |
| Posted: 16 Oct 2019 07:56 AM PDT Someone make me feel better about this. I feel so drowned in debt and just want to enjoy my life and new life seasons and milestones but feel like any fun I have isn't deserved due to my debt. Husband and I make 155k a year Combined debt 70k (me 50k. Him 25k) Do we put off vacations and children until this is paid....? [link] [comments]  |
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