Can't get loan holder to talk to me about mom's student loans after she passed away Student Loans |
- Can't get loan holder to talk to me about mom's student loans after she passed away
- Is a bachelors degree worth 50k in debt with felonies on my record?
- I am beaming with excitement over money saved!
- Want a chance to win $50? Fill out my Student Loan Survey!
- What is the meaning of "significant change in income" for income based repayment?
- Would subsidized student loans accrue interest if I took 4 credits at one school and 4 credits at another school?
- PSLF Question: Considering switching to standard payment. How is the monthly calculated?
- Advice on Student Loans!
- Graduated plan interest
- Need advice on timing of when to take out a loan.
- PLEASE HELP FREAKING OUT!
- Sallie Mae Odds
- Can I get a loan without my parents' approval?
- Direct Debit sudden change on PSLF
- Help
- Spouse's parents defaulted on a parent loan over a decade ago. Any hope of finishing school?
- Different payoff amounts
- My student loan grace period ends this month. I'm living in Europe for 10 months. I'm not currently making money, but have some saved. Should I begin paying or apply for deferment?
- Who is calling the shots on personal loans?
- Fiancee defaulted on a $20k student loan, what are her next steps?
- If I pay all my student loans in full can I get a "discount"?
- How to get lower payments?
- Urgent Help — Suggests about how I should proceed
- $300k in private loans - refinancing chances
| Can't get loan holder to talk to me about mom's student loans after she passed away Posted: 05 Nov 2019 12:35 PM PST My mom recently passed away with student loans still open. I found the loan holders through her credit report and sent death certificates to the companies and requested that her loans be discharged. ECMC timely responded that the loan was discharged. The other company, Navient, also sent a letter that the death certificate had been received and that's it. No mention of whether it was discharged or not. So I waited to see if a follow-up letter would come about the discharge. Nothing. So called them, they said they couldn't talk to be about the account because I was not listed, but that discharge could take up to 60 days. So I was going to wait the 60 days, but the whole matter skipped my mind and now its been 5 months now with no further correspondence. Today I called back and tried to talk to them again about it and they still said they could not discuss it with me. I mentioned that my name is listed on the death certificate that was sent to them and that it shows me as "Son" under relationship, they put me on hold and when they came back on the line said they still could not discuss it with me. My mom's estate is not large enough to necessitate probate, so I am trying to avoid having to go through that whole process if possible, which is why I was trying to get her loans taken care of myself. TLDR; Does anyone have any advice on how to get Navient to actually talk to me about my mom's loans after she passed away when I'm not listed on her account? [link] [comments]  |
| Is a bachelors degree worth 50k in debt with felonies on my record? Posted: 05 Nov 2019 03:51 PM PST I'm 25 so I can get 10,500-12,500 per year in Stafford Loans. Also 56,000 max over lifetime. Already have 13,000 in debt with interest. When I do the loan payment calculator it comes out to a total of 117,000 in total repayment with interest over a 30 year repayment (id pay extra if possible, takes a ton off of the interest) I also have a couple felonies from when I was 19 years old that I don't think I can get expunged. I really want to finish school but it's a ton of debt. All federal loans at least but way more than the average. I'd be pursuing business management. [link] [comments]  |
| I am beaming with excitement over money saved! Posted: 05 Nov 2019 08:55 AM PST Hey everyone, I am so excited about my choices with student loans and even though I have an uphill battle to go, I am so happy at my current situation. I have about 70k in Government loans through nelnet. Most are subsidized, but I have 2 subsidized from grad school at 21.5k and a grad plus loan. All interest is under 5%, except for the graduate school loans that are 5.35 and 5.75 after the interest rate reduction from auto pay. My mom had a 10k parent plus loan that I refinanced last year into my name for $145 a month and it is down to 3k at 6%. My monthly interest for all the nelnet loans is $324. I RECENTLY (like, in September) started to pay a total of $2200 on my loans every month. Prior to May, my payment for nelnet was $300 for the graduated extended plan, while I planned to pay extra on my parent plus loan. In June, I got a new job, so with moving expenses, I didn't pay extra on my loans and at my old job, I could only put a total of $1100 to my loans. In May, I went onto the REPAYE plan based on my student income, which made my payments $138. My monthly interest is $324, but I heard REPAYE gave you an interest subsidy. Well, months later, I calculate that the subsidy is $119 to my loans!!! I am saving $119 a month by putting it to the higher interest loans and then every 3 ish months, I just pay whatever interest is leftover, which is only $205 this time!! I am just so happy that this plan is helping me to pay off huge amount of debt this year, and will be very sad in May when I have to change plans because my income plan payment will shoot up to almost $600 I think... I am going to wipe out whatever interest has accrued (so it doesn't capitalize) and switch back to graduated extended, but by then this parent plus loan will be long gone and I can start chipping at that grad loan. In addition, I have been able to save enough to afford a home and plan on moving within the next year!!! My mortgage broker estimated my house payment/taxes/insurance and it is what I pay now for rent, so I am so happy that there seems to be a light at the end of my tunnel now. Hope this helps to motivate someone else who got a new job and has the money to put towards their loans now!! [link] [comments]  |
| Want a chance to win $50? Fill out my Student Loan Survey! Posted: 05 Nov 2019 11:46 AM PST Hi all, I am a student at UC Berkeley conducting a private study on student loans and how to make them more student-friendly. As a part of my research, I am conducting a survey that I would love if everyone could fill out. As long as you have a loan or are thinking about a loan, you are eligible! Also, everyone who takes it will be entered to win multiple $50 Amazon gift cards! All survey responses will be kept completely confidential, as name and e-mail are NOT being collected. Also, all questions are optional, so feel free to not answer any question that you do not want to! Thanks for helping me improve the student loan process, I really appreciate it! TLDR: Take my confidential survey about student loans and you'll have a chance to win $50! Here's the link: https://berkeley.qualtrics.com/jfe/form/SV_eEswX77HjyVQMO9 P.S. This survey post has been approved by the moderators [link] [comments]  |
| What is the meaning of "significant change in income" for income based repayment? Posted: 05 Nov 2019 07:11 PM PST I'm about to begin paying my loans and I want to switch to IBR. A financial aid counselor at my school mentioned the importance of checking "no" for whether your income has changed significantly from the past year. I can't seem to find a solid answer to this online. A little info: income last year was around 8k, income now around 60k. My minimum payment would be $0 based on my income from last year, but I plan to make payments north of $1k each month anyways. No way I could afford the amount I'd owe under standard. Thanks for any help! [link] [comments]  |
| Posted: 05 Nov 2019 10:17 PM PST I am now paying out of pocket for most of my schooling and transferring some credits from my local community college to my university. If I were taking a combined 8 credits but split, would I still be considered half time? [link] [comments]  |
| PSLF Question: Considering switching to standard payment. How is the monthly calculated? Posted: 05 Nov 2019 05:18 PM PST Hey StudentLoans! My wife has been doing PSLF for the past 4 years. We have been doing taxes married filing separately until now. With my increase in salary, we are looking into the option of filing jointly. If we go IBR, monthly payments may be higher than standard 10-year. If she were to go standard, would the calculations be based on the original loan amount or the current loan amount after interest accrual? Thanks in advance for your responses [link] [comments]  |
| Posted: 05 Nov 2019 05:06 PM PST I love this thread and wanted to post on here to get some advice and make sure I'm approaching this the right way. I'm a 28-year-old who is just moving back from being abroad for the past four years. I was in the Peace Corps and Graduate School overseas. I'm about to start a job in the Federal Government at the end of the month and make sure I have the best approach to paying down debt and setting up my finances. I have a lot of student debt and haven't really generated and personal wealth, so any information or advice would be fantastic! Income: I will start at 57,000 a year, next year I will have a raise to 69,000 then 99,000 the following year. I have good career stability and benefits working for the government. I also will have 5% matching on retirement, which I will max out. I do rover on the side, but don't make much from this- more just enjoy seeing the dogs! Costs: Rent is 750 a month, including utilities. Between food and transport, I spend maybe 600-700 a month. Still, need to take out renters insurance. Once I start working, I will know this more. I don't drink or eat meat, buy most stuff second hand — overall pretty low cost of living. Savings: Currently 2,500 in savings and want to use this as the start of my emergency fund of 3,000 Debt: Between my undergrad and masters, I'm about 90,000 in debt. This is a lot but hopefully manageable.
Plan: I plan on doing public loan forgiveness with my federal loans and then pouring most of my resources into paying off my private loans. I was going to use the avalanche method and work by the highest rate. My initial thought was to refinance private loans. But sofi and earnest only gave me rates of 7%. Maybe I can call and see if I get a better price. Also, my masters were aborad at a private school, so it doesn't qualify me for some other refinance options. Currently, the loans are at a better rate then I would get at the refinance. I'm a little at a loss what to do about the private loans and how to proceed with refinancing or pay at the rates currently. The rates seem high to me, but they didn't qualify me any better. (I also have a 690 credit score)I plan on living lean and pouring the extra money from my raises into paying off the debt. Ideally, I will be done with my private loans in 3 years. In my first year, I will be able to pay at lease a 1,000 a month towards debt, if not closer to 1,300. My thought was to refinance the First Mark loans to a lower monthly payment and then pay off the Sallie Mae as quickly as possible? Any advice or different approaches are appreciated. Questions:
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| Posted: 05 Nov 2019 08:44 PM PST Does the interest on the graduated plan capitalize every year? Do you generate interest on the interest? Sorry, it's probably a simple question. [link] [comments]  |
| Need advice on timing of when to take out a loan. Posted: 05 Nov 2019 04:23 PM PST Help! I'm entering a graduate program that does not allow me to work and have never taken out loans before. I have leftover savings to cover ~30K of tuition but need 115k total over the course of the 3 year program. With FAFSA I'm eligible to take 20,500 direct unsubsidized each year divided by semester. I'm trying to decide if I should: 1: take the FAFSA money now (knowing it will accrue interest immediately) and use the 30K to fill in the difference over the 3 years. 2: Use the 30K savings now, declining the first semester of FAFSA money, then take out more private loans in following semesters (I've heard to avoid these loans if possible). Thanks! [link] [comments]  |
| Posted: 05 Nov 2019 12:33 PM PST As embarrassing as this is I feel the need to ask, I am the oldest child of immigrants (immigrant myself as well) so there was never any financial talk, etc about college, I had just assumed that everyone took out hella Parent Plus loans to cover. Now the issue is my poor mom in on the hook for $80,000 because of my stupidity and there is the agreement that I pay it back... For my question, the first payment is due in about 6 weeks, is it possible to defer the Parent plus loan for an additional amount of time, because I finished in May and the 6 month grace period is coming to an end, and everything on studentloans.gov and Navient is vague and provides no answers.. Still looking for a full-time job so an extra 6 months or year would be really helpful.. I apologize for polluting the feed, but I want some sort of answer to possibly put me on ease [link] [comments]  |
| Posted: 05 Nov 2019 07:27 PM PST Hi all. I just turned 20 last month, and looking to go back to school! I don't qualify for FAFSA, so I'm actually looking at SM as an option. One big problem. My first CC was back in Feb. 2019, since then, I have received 3 more CC's, totalling up to $1900. FICO is 672, Experian, not sure about anything else. How long should I wait to apply for a loan? I don't have any access to any co-signers. [link] [comments]  |
| Can I get a loan without my parents' approval? Posted: 05 Nov 2019 06:27 PM PST Title. I want to transfer schools and up until now my parents have been supportive. Suddenly they want me to stay at current school and disapprove of new school. For reference they pay out of pocket for my current school (80k a year). I do not know much about any of this, so I am wondering is it possible to be able to get a student loan without my parents cosigning? [link] [comments]  |
| Direct Debit sudden change on PSLF Posted: 05 Nov 2019 12:40 PM PST Hi all, I'm in my 3rd year of paying toward PSLF and have been on Direct Debit since I started. I am on REPAYE and have ~130k in debt, all federal loans. I have 2 loans, one great big consolidated loan, and one small loan that I did not include in consolidation because it had a higher interest rate. Until 2 months ago, my payment always came out via direct debit as one transaction for $430/mo. Suddenly, the last 2 months, it has come out in 2 transactions: $409 and $21. Still equals the total owed. But I called to find out why the change, I am very paranoid of losing out on PSLF due to a technicality. I spoke with 3 different reps and no one can tell me why the payments suddenly are coming out in 2 transactions. They all assured me that it doesn't matter. But I don't trust them. So, one rep recommended I could cancel and then reapply for Direct Debit to see if it goes back to 1 payment. Don't really want to do that either since that could also mess things up. What do y'all think? Am I being unreasonable in worrying about this? TIA [link] [comments]  |
| Posted: 05 Nov 2019 12:06 PM PST So I learned that my WUE (Western Undergraduate Exchange) status won't renew for the upcoming Spring semester. It only lasts 5 semesters apparently which means I gotta pay the full non-resident tuition rate next semester. At Arizona State University, that's a loooooot. I'm supposed to be graduating next semester, but now it looks like I might not be able to walk and get my degree because of it. What are my options for Spring 2020? Can I still apply for residency for next semester? Can I appeal to WUE? Am I just screwed? I'm so sad atm that I might falter at the last hurdle due to some technicality like this. Can someone help me? [link] [comments]  |
| Spouse's parents defaulted on a parent loan over a decade ago. Any hope of finishing school? Posted: 05 Nov 2019 11:48 AM PST Edit for clarity: they defaulted on a FRAUDULENT loan from a private loan company, without my spouse's knowledge. This is a pretty long story, but I will try to be as short as possible. So my spouse, let's call them A, was raised in a pretty abusive situation. When they got into college in around 2006, A's parents took out fraudulent loans, without A's knowledge or approval. They requested refunds and spent the money, all behind A's back. These fraudulent loans totaled around 20k. 3 semesters into school, some other really shitty things happened that I won't get into here, and A dropped out. 6 months later, A gets hit with these massive bills. Then A finds out what their parents did. They had done the same thing to A's older siblings, as well. They all are kinda stuck in poverty to this day. Fast forward 13 years, A has given up on the idea of going to college. They have gotten by without a bachelor's, but it's not the same now. They were ok with taking custodial and similar jobs when they were 19 and still living in Buttfuck, Montana, but now they're married, 33 years old, living in Los Angeles, CA, no degree, and deep in debt they didn't create. Bad badness. I have done some research online, but the internet says we're screwed unless A presses charges--and wins! But so much time had passed and there has been so much distance that it would be next to impossible to gather evidence that the Internet says you need, like 6 signed documents from the same time period. I really want to see my spouse finish their degree, but this is such a clusterfuck now. Where do we even start with this? Any advice would be much appreciated. [link] [comments]  |
| Posted: 05 Nov 2019 03:25 PM PST I have student loans with Great Lakes that I'm able to completely wipe out right now. I went the payments page on their site and chose "payoff account" on the dropdown menu. It shows the same balance I see on my main account page. However, if I click on the "calculate payoff amount" link, it gives me a figure that is $100 higher. Which amount do I need to pay? I really want to put this behind me ASAP and not risk them screwing me with more interest. [link] [comments]  |
| Posted: 05 Nov 2019 02:53 PM PST I posted this on /r/personalfinance , but I was also advised to post here. I need some advice on whether or not I should begin paying my loans. I have an unsubsidized loan with a ~6% interest rate. It started at $9,200, and currently is around $9,600. My grace period ends this month, and I will have to make my first payment in December. I have been told my monthly payments for a 10-year repayment are about $60/month. By the time my grant ends in June, I will have paid ~$420 on my loans. I have ~$7,000 saved. I have grant money that I am living with while I am in Europe, so my U.S. money is mostly staying untouched (with the exception of Spotify $10/mo and maybe another $20-30 for trips where my grant money doesn't work). My problem is I am unsure if I should begin repaying my loans. I understand that the earlier I begin paying them, the sooner I will be out of debt. I also know that defering my loans will only add to the amount I owe and make me end up paying for a longer period of time. However, it makes me nervous to begin paying my loans because I am not actively making income. I also want to keep my U.S. money as a "just in case" fund if I need the money. I am also not 100% certain of when or what my employment will be after my grant ends (I don't know how important this point is since I will look for a job once I return home and I do not anticipate it being a problem. Just thought this was important to note). I appreciate any and all advice. If I need to fix anything or if this fits better in another sub, please let me know. Thank you! [link] [comments]  |
| Who is calling the shots on personal loans? Posted: 05 Nov 2019 06:07 AM PST Although I'm currently paying off my student loans, I am in desperate need of a skill (should not have gone into debt for a liberal arts degree... blah). Last week I inquired at my bank about taking out a $10K personal loan to pay for a coding bootcamp. Although I was approved for the personal loan, the bank won't led me the money because a personal loan can't be used for "higher education." I'm curious, is this rule because of federal law or because the student loan companies have friends in high places who can create rules that promise them an education-related loan monopoly? [link] [comments]  |
| Fiancee defaulted on a $20k student loan, what are her next steps? Posted: 05 Nov 2019 07:18 AM PST Title. Fiancee has defaulted on a $20k student loan. Her loan organization is called Great Lakes Educational Loan Services, but the loan itself is a Stafford through the US Dept of Education. This will go into collections three days before Christmas 2019. She's getting emails urging her to call Great Lakes and work out some sort of solution, but I thought it best to get some impartial info/advice from you guys first so she can be informed before making the phone call. Let me know what she/we can do and if you need more info. Never posted here before and I apologize if I left anything out. Thanks! [link] [comments]  |
| If I pay all my student loans in full can I get a "discount"? Posted: 05 Nov 2019 08:28 AM PST I am loan illiterate, so sorry for the terminology. My grandpa died and left me 38,000 and my loan balance is 36,733.77. Im going to use it to pay them off. Should I just pay in full right now, or like consolidate them? Can i somehow lower the balance if i'm paying all of them off at once? Again I feel like this is a dumb question and I apologize [link] [comments]  |
| Posted: 05 Nov 2019 10:12 AM PST Anyone here with Sallie Mae loans who maybe got on a payment plan with Sallie Mae or they somehow lowered their interest rate? They want $900/month from me and I can't afford it, I'm not sure if I should try to get them to lower my payment somehow or if I should refinance! [link] [comments]  |
| Urgent Help — Suggests about how I should proceed Posted: 05 Nov 2019 09:11 AM PST I'll start off by saying I'm a 33 year old man with an associates degree. I was unable to finish my studies way-back-when because of some personal issues. I've decided to go back to school. I applied and was accepted at a pretty decent 4 year university. There's only one problem. I don't have money—at least not thousands of dollars to spare. I currently make 40k and that's including the freelance marketing work I do on the side. I went to the university and spoke with financial aid. They informed me that the government loans would not be enough to cover full tuition—I'd be going in as a junior in their Software Engineering Program. My first question is whether I should start classes with what I have now; exhaust the federal loans, and seek a private lender to cover the difference. Or should I wait until I secure a private lender? I applied for a 60k loan yesterday (College ave). My FICO is 697 and they still required a co-signer. I actually don't think they checked my credit score at all—I didn't get a credit check alert. Is it normal to apply for the full cost of tuition or should I apply for it in parts? You're probably wondering why the hell I am posting this here; well, I asked the school for advice and the advisor treated me like I'm some 18 year old (I confess I look young). She just kept talking about co-signers. Honestly, I am just trying to find out what the best route would be. I already know how to code, and am tempted to try and find a job as a junior developer somewhere that offers a scholarship or study help. [link] [comments]  |
| $300k in private loans - refinancing chances Posted: 05 Nov 2019 06:57 AM PST Hi r/studentloans, here are my stats: $94k salary per year incl bonus (consistent bonus) One card ($16k balance) Car payment ($822/month) $300k in student loans (current variable anywhere from 6-12% interest) - $3200/month payment with 12 years left I believe based on doing a few calculations that I could extend the payment term to 20 years and drop my payment to about $2100-2200 Credit score is in the 680 range, no missed payments, bankruptcy, etc. What are my chances of getting approved by Earnest, SoFi, etc with that large of a balance and 50-55% DTI? Thanks! [link] [comments]  |
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