Drowning in over 108K and don’t know how I’m going to pay the bills next month Student Loans |
- Drowning in over 108K and don’t know how I’m going to pay the bills next month
- What are some good student loans/grants to apply for?
- Prodigy and MPower
- Has anyone applied to Borrower Defense to Repayment?
- Student Loan
- What is the smartest way to pay my student loan?
- Student Loan Forgiveness?
- Student Loans, I am needing some help understanding my loans!
- student loan monthly payment amount reported wrong on equifax
- Federal Loan Refi?
- Credit Union student refinance loans
- If I have a about 35,000 student loan, and about 1,500 in interest and my grace period/first payment is coming soon, should I pay off some of the interest?
- Not Paying Back School?
- Refund of lump sum overpayment from an employer?
- Have you had any luck refinancing with earnest?
- Has Anyone Managed to Settle with Navient?
- Accepted a loan but ended up not attending
| Drowning in over 108K and don’t know how I’m going to pay the bills next month Posted: 24 Nov 2019 09:32 AM PST I have over $108,000 in student debt, and I have to start paying as of next month. Here is the breakdown of my student debt:
That's a grand total of $108,795.68 and counting, with a total monthly payment of $824. I also now have credit card debt from moving across the country and having to live without a job for two months. Last month I paid interest on my credit card for the first time in my life and in my 5 year credit history. My credit card balance is $2,194.54 with 21.74% interest. Last year, I made almost $40,000 a year working (usually two jobs) in college. Now, I live across the country where wages are abismal and I make less than $30,000 a year in my starter job for the career I want to go into. I cannot yet get a higher paying job with my experience level. My rent is about $945 every month, and my groceries and bills (with no extra costs for eating out, getting coffee, or entertainment) add up to just over what I make every month. I have a budget spreadsheet set up and I track every penny I make. I've given up a lot and cut back a lot and it's still not going to be enough. I already walk dogs as a side hustle, but I'm going to need an actual second job on top of my regular full-time job. I'm scared that my mental health will suffer like it did in college from being overworked and stressed out. I am freaking out, and I don't know what methods to use or how to get my payments down. If I wanted to do an income driven plan on my federal direct loans, it would use last year's tax information when I was making almost $10,000 more per year. I'm really scared and anxious, and I'm hoping someone here will be able to offer me some advice. I don't want to live in complete poverty because I wanted an education. [link] [comments]  |
| What are some good student loans/grants to apply for? Posted: 24 Nov 2019 06:20 PM PST I'm not sure what I will have a good chance qualifying for. I'm 22 years old, I have 2 kids, my husband has prior military (Navy with general discharge if that's relevant), and I'm going for my bachelors in elementary education. I've already done FIFA and I'm currently looking into the Federal Perkins Loan Program, but I'd like alternatives Incase they're needed because I don't want to put school on hold next semester due to not being able to afford it. I'm in Illinois, United States [link] [comments]  |
| Posted: 24 Nov 2019 11:34 PM PST These organization gives education loan without any cosigner and collateral to international students. So I was wondering if they are reliable or not. Has anyone here taken any loan from there or know someone who has taken. I have tried to Google a lot but what I have found is their workers answering instead of real students. [link] [comments]  |
| Has anyone applied to Borrower Defense to Repayment? Posted: 24 Nov 2019 07:45 PM PST When did you apply and how long did it take until you got approved/Denied? What was your experience? [link] [comments]  |
| Posted: 24 Nov 2019 11:14 PM PST Why don't students from USA try doing their undergrad from European countries and save themselves from heavy debt. I have seen people getting mentally stressed out over their loan. [link] [comments]  |
| What is the smartest way to pay my student loan? Posted: 24 Nov 2019 10:55 PM PST Also.. If I was about to get a big sum of money, would it be wise to just put all that money immediately on the loan, or put it to a secure bank investment with a % percentage so that it cancels itself out and I focus on growing that amount since it would increase my passive gains? What would that investment be? [link] [comments]  |
| Posted: 24 Nov 2019 06:45 PM PST What is student loan forgiveness? What are the chances of getting student loan forgiveness? It sounds like something where they just forgive your loan debt and you no longer have to worry about it? Does anyone have experience with this happening to them? [link] [comments]  |
| Student Loans, I am needing some help understanding my loans! Posted: 24 Nov 2019 05:36 PM PST Hello Student Loans, I am still in graduate school-- so I'll be in the grace period until Sept. 2020. However, I have one Stafford Loan and a Graduate PLUS loan so my total balance right now is $29,150.73 Should I go ahead and enroll in auto-payments now? I'll have a low paying job until I can graduate, so is it even worth it to be making small payments now? All of it would probably go to interest anyways. Any tips/information you guys can help with would be greatly appreciated. I'm always reading good things on this thread-- and I'm pretty lost as what these loans even mean/when/at what rate to go about paying them. [link] [comments]  |
| student loan monthly payment amount reported wrong on equifax Posted: 24 Nov 2019 08:44 PM PST TL;DR Equifax report pulled by US Bank is showing incorrect monthly loan payment amount. The Equifax report I just pulled on myself doesn't say anything about monthly amounts. So what do I do? I have 2 student loans, a stafford loan and a grad plus loan through great lakes. For unneeded context, I'm fresh out of school as a pharmacist. I'll be making 108k/year based on my guaranteed hours. I decided to go for the 10 year payment plan on my loans based on my income vs expenses. The original due date of my first payment was Dec 3rd and the I think monthly payments were going to be ~1500 and ~600 for a total of ~2100/mo or something like that. I can't remember the exact amounts. About a week ago, I got an email from great lakes saying. "We recently reviewed your account and created a new payment schedule. The previous monthly payment amount would not have paid your loan in full within your current repayment term, so your monthly payment amount needed to be adjusted." The new payment due date is Dec 26th. The monthly amounts increased about 100/month on each loan. So now the payment amount is going to be ~1650 for the stafford and ~650 for the grad plus totaling ~2200/mo. Ok, makes sense. My loans grew slightly due to interest while I was seeking a job/getting licensed/building an emergency fund. I applied for a used car loan at US Bank yesterday. They ran an Equifax report. My credit score came back fine at 790. The rest of the info looked correct except my student loans. The total balances listed for my student loans were correct. However, the monthly payment amount they saw was was way off. US Bank told me the report said that like 2900/mo was going to be due for the stafford and like 1100/mo was going to be due for the grad plus. I forget the exact amounts. It's almost like they added the old and new payment amounts together or something. It wasn't quite double what it should be, but it was close. So this totally screwed my calculated debt/income ratio. I said that wasn't right and gave them screenshots of the loan payment amounts from my account to pass on to the underwriter. When I got home, I sent an email to great lakes today saying I applied for a car loan and discovered the incorrect monthly payment amount was reported to equifax. Today I requested my own report from each bureau. All 3 are saying my loans are in deferment, paid as agreed, 0 past due, etc. No issues. None of them tell me ANYTHING about a monthly amount that's going to be due. So I have nothing to contest based on what I see on my own report. How can I watch/monitor to be sure great lakes is reporting the correct monthly amount if I can't even see it on my report? [link] [comments]  |
| Posted: 24 Nov 2019 04:47 PM PST I know it's not typically recommended, but I'm tempted. I currently have $49k in federal grad loans at an average of 7%, and I'm just starting repayment in December. I've been paying an average of $2k a month (half of my take home pay) on them. I plan to keep this pace up for at least the next year. I've applied and been approved by SoFi for 5 years at 3.969%, so almost half of what I'm paying now. The monthly min would jump to $900, but as I mentioned, I'm paying more than twice that already. My job is stable, and I maintain a 3 month emergency fund. I'd just love for mohela to not be making $300 in interest off of me every month. [link] [comments]  |
| Credit Union student refinance loans Posted: 24 Nov 2019 06:56 PM PST So I graduate this fall with 29k of Federal student loan debt. I have direct loans of both subsidized and unsubsidized loans through navient with interest rates between 3.7%-5%. my question is what's my best option to pay off my student loans, should I use my credit Union to refinance my federal loans or stick with navient and pay through them? [link] [comments]  |
| Posted: 24 Nov 2019 12:58 PM PST If I can't afford to pay off all of the 1,500 in interest prior to the end of my grace period, does it at least help? I've googled, but I don't totally understand what would be most beneficial. Thanks! [link] [comments]  |
| Posted: 24 Nov 2019 06:45 PM PST So I took one course at a private college through my employer awhile back. Total cost was around $1,300 I believe. However, I ended up employment with them during the middle of the course. So repaying back the school was my responsibility. I remember setting up a payment plan with them but totally forgot about it until literally right this very second. I haven't heard anything from them or a collections agency..so I guess my question is...should I even worry about it? [link] [comments]  |
| Refund of lump sum overpayment from an employer? Posted: 24 Nov 2019 10:41 AM PST Paging u/Betsy514-- I am on PSLF and my public employer has decided to help out PSLF pursuers with payments directly to FedLoan Servicing. This decision was made at the top of the chain and pushed down. HR/payroll decided early to make the payment as a lump-sum, even though the lump sum payment does not really help the PSLF applicants. Management realizes the problem now but it is about to release its first wave of repayments to FedLoan and can't stop the lump sum policy at this point. HR also demands lump sum payments stay as the policy. :( Anyway—management asked if we can get FedLoan to refund the lump sum to recipients. I have seen some claim that this is possible in this sub, but nothing seems certain. For example, I called FedLoan three times and got two different answers on whether a refund of an overpayment is permissible. The first FedLoan agent said yes, followed by two nos. Besides one-offs or anecdotes where you got a FedLoan employee to refund a double payment or overpayment, is there any policy, guidance, instruction, clarification, etc., that is on the books at either DOE FSA or FedLoan that allows for refunds of overpayments if a refund is requested? [link] [comments]  |
| Have you had any luck refinancing with earnest? Posted: 24 Nov 2019 06:06 PM PST I tried to refinance my loans (originally from Navient) with SoFi but I wasn't approved. Someone recommended that I try with earnest. They offered/approved me for 6.21% fixed and since I was paying 14% with navient I thought it was a good deal. Before signing anything, I wanted to check with you to see if any of you good people have any information on this company. Oddly enough, it was bought by navient [link] [comments]  |
| Has Anyone Managed to Settle with Navient? Posted: 24 Nov 2019 08:02 AM PST My interest rates are killer... Current Balance: $18,995.74 Interest Rate11.000 Current Balance $7,598.34 Interest Rate 11.000% Current Balance $14,815.01 Interest Rate 11.000% Current Balance $13,971.39 Interest Rate 11.000% Current Balance $15,899.50 Interest Rate 11.000% Current Balance $11,361.23 Interest Rate 5.750% Current Balance $6,912.76 Interest Rate13.125% I have enough money in savings to pay the last loan with the highest interest rate, but it would suck if I have to throw all my savings to pay off these loans. No one will refinance me because my debt to income sucks. I also have federal loans. I don't want to default, because my credit score is over 800 but i don't what else to do. Been making diligent payments for over five years, and got taken out of their rate reduction program. I'm at wit's end. My second thought was just to refinance a couple of the loans, but I'm not even sure how much of an effect that will have at the end. I'm starting to get depressed again, and I was doing really well in that department. [link] [comments]  |
| Accepted a loan but ended up not attending Posted: 23 Nov 2019 10:56 PM PST I accepted student loans to attend CBU in Riverside CA but I ended up unable to attend but I'm being told there's still payments to be made, I'm doing this 100% on my own so I don't understand what I'm paying ... any help? [link] [comments]  |
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