Weekly Politics Discussion Megapost Student Loans |
- Weekly Politics Discussion Megapost
- Best option for making payments while still in school with Great Lakes
- No clue how anything works.. lil help please? :-)
- New PAYE amount lower than expected?
- Mystifying Loan Payoff Behavior
- HUGE credit drop - normal?
- Now Is The Time: Delinquent Loan pay off negotiation. Need Help / advice for what could be a perfect situation?
- Garnishment question ��
- Loan Transfer
- How can I get a private student loan without a cosigner?
- For those accepted for NHSC loan repayment....
- Repayment Options-Need Advice!
| Weekly Politics Discussion Megapost Posted: 06 Nov 2019 12:07 PM PST /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]  |
| Best option for making payments while still in school with Great Lakes Posted: 06 Nov 2019 05:24 PM PST I am planning to graduate this December and am trying to get ahead of the game with my payments since I've been told you save more if you're able to make payments while still in school. I have loans ranging from 2015 to this current semester. I was wondering what is the most cost way to pay off my loans? Great Lakes gives me the option to apply as refund or apply as payment. To my understanding, apply as refund would only reduce the principal on loans disbursed within the past 120 days (so the loans I received this semester). Apply as payment would apply to interest accrued on subsidized loans and then the principal. I do see the appeal on making payments as a refund, but would I be better off applying as a payment to reduce the interest and inevitably principal on my loans that are 4 years old? [link] [comments]  |
| No clue how anything works.. lil help please? :-) Posted: 07 Nov 2019 12:09 AM PST Hii! Im from England so my family and I arent sure how these things work. Tried looking things up but its all so overwhelming, was wondering if it could be put in simpler terms? I've been in community college for the past well, 4 years (long story) and I'm finally ready to transfer. The uni is about 3 hrs away from home so have to find accommodation. I would go into detail as of why but trying to keep this short, I'm needing a studio or single room apt which is (ridiculously) around 1,000 a month or if on campus, 1300. I'm wanting to pay for college completely student loans, because I have no fund from my parents or anything so that's my only option. Do people also pay for rent/accommodation with student loans? I know everyone says I'll regret it when it's time to pay for them, but I just know that it'll be worth it in the long run. I guess the whole question is, while in uni can you basically live off student loans? (rent, food, gas, etc) I'm wanting to get a part time job of course so hopefully I'll have that too. Whens the best time to apply for loans? I'm not transferring until next fall but will be out of country (in england) next summer (I think) so want to have everything planned. If anyone knows a lot about student loans and would like to chat with me I'd really apprecite a private message! I have a lot more questions but don't want to bombard. [link] [comments]  |
| New PAYE amount lower than expected? Posted: 06 Nov 2019 01:14 PM PST I just got an email notification that FedLoan had processed my PAYE renewal, and the amount is lower than I was expecting. AGI in 2018 was $36234, married filing separately. I expected a payment of ~$151 but the email says my new payment amount is $90.58. What should I do here? Enjoy the lower payment while it last, or get in touch and figure out why it's lower than it should be? Thanks!! [link] [comments]  |
| Mystifying Loan Payoff Behavior Posted: 06 Nov 2019 03:34 AM PST So, I'll try to make this simple. I've been paying steadily on my federal loans. A few years ago, I sat at ~95K, and today I've worked them down to just over $50K. This past month was my annual re-cert for IBR, which I haven't actually done the past couple of years because I make enough that I can swing the standard payment. So my IBR = standard payment, basically. I keep meticulous track of each individual loan's balance on a fancy spreadsheet. Great Lakes assigns "tokens" to each loan so you can tell one from the other. I get a thrill when I zero out one of these tokens and can remove that line from my spreadsheet. I've done so with maybe half my tokens so far. Yay! Well, here's where it gets interesting. With this year's re-calculation of my monthly payment, two tokens that I had paid down to zero a long time ago suddenly reappeared with modest balances (a few hundred $). This forced me to adjust my spreadsheet in a way I didn't expect. However, the total of my loans is exactly what I expect it to be -- which has me breathing a sigh of relief, but doesn't answer the question: What's going on here? I know that most loans I see have that disclaimer to the effect of "This is not a payoff amount." But what does that mean precisely? If I pay a loan down to 0$, and it stays at 0$ for 9 months, then one day it's back to $500, what has happened in the background? And most importantly: How can I prevent this same surprise in the future? I appreciate any help. And if it's not something that makes sense to anyone, I do plan on calling my servicer later today. [link] [comments]  |
| Posted: 06 Nov 2019 07:26 PM PST My credit dropped from nearly 800 to 720 in one month. Can this be attributed to my taking on student loans 2 months ago? [link] [comments]  |
| Posted: 06 Nov 2019 10:02 AM PST Hello All, I will provide the stats first. I owe ( 87k total) 54K Sallie Mae & 33K Us Dept of Education. This is not including the interests rates. I stopped paying my loans 5 years ago when i moved to New York City for a low paying but gateway job. I was making 50K a year but with cost of living on that horrible island, i was barely able to live. I could not afford to pay my monthly loans and Sallie mae was not accommodating to my situation. ................. Fast forward to now. I am back to living in Pittsburgh, PA. My gateway job in NYC has finally lead to a great job. I am making 150K and just got a 20k bonus. I also have 31k in my former job 401k............. He is my question.........Should i pull out the 31k in my 401k, which will be like 25k after fee/tax....Then use the total 45k cash to negotiate with both sallie mae and US Dept of ED for a payout? what is my best strategy here? thanks and sorry, i am new to posting and horrible with the formatting. Please let me know if you need more details or have questions.... I LOVE YOU ALL! xox Sallie Mae Hottie xox [link] [comments]  |
| Posted: 06 Nov 2019 05:15 PM PST I had loans from two providers in garnishment, and it took me nine months to get them out of garnishment. Right after, I received a letter from a collection agency for another loan from one of the same providers I had just gotten in a income-based payment plan with (Navient) threatening to start garnishment. I set up a payment plan in July with the collection agency, but they would only let me go as low as $120.26/month. I called to cancel automatic debits because I can't afford them anytime soon, and they wouldn't let me go any lower on my payments. Will they have to start fresh through the garnishment process now, or will it pick up where it left off? I'm just wondering how much time I have to figure out what to do. I hope that made sense. Thanks! [link] [comments]  |
| Posted: 06 Nov 2019 08:20 AM PST Is there a way to transfer my gradplus loans to my parents? I assume this would involve refinancing, but is this possible? Would I receive a tax hit when transferred? [link] [comments]  |
| How can I get a private student loan without a cosigner? Posted: 06 Nov 2019 06:22 AM PST I know, do the FAFSA first. I've already done it and received what they offered. However, I really just need some extra money right now for school. It's literally only a one time thing and it's not even really a large loan at all. I just need some money like now and then I can start paying it off later. However, the one problem I'm having is that, while I have a good credit score, I don't have enough credit history to get approved for a student loan without a cosigner (at least with discover loans). Every cosigner I have tried to use does not qualify and I'm really out of options now. What can I do to get approved? My credit score has increased by like 50 since when I first applied, as I am now in the "good" range when I was in the "fair" range before. Would that make a difference in being accepted without a cosigner, despite my little credit history? Should I look elsewhere besides discover? Are the other private loans more lenient with applicants and cosigners? Yes I know that private loans should be avoided, but this is really my only option. I already have a job as well, so this is what I have to do. [link] [comments]  |
| For those accepted for NHSC loan repayment.... Posted: 06 Nov 2019 04:38 AM PST Have you received your funds yet? I think they have until dec 12 for me, which is 90 days, but wondering if it will be sooner. Thanks. [link] [comments]  |
| Repayment Options-Need Advice! Posted: 05 Nov 2019 07:01 PM PST I need advice on my repayment plan will work out for me. So, let me give you the background information. I have $35,000 balance accrued for my federal student loans. I am also paying the Parent plus loans in my moms name. I will be paying through great lakes. That outstanding loan balance is $90,000 dollars. I do have a great paying job. So, right now I can afford $1500-2000 dollars a month until I move out/ or buy a car (prob not for a few years). My current repayment schedule is the standard monthly payments of $228 for federal loan. I wanted to know if choosing an extended graduated plan(20 years) that increases payments every two years is a good idea for the loans in my moms name. If I choose this option, I will be paying $583.79 for those loans in the first two years. In total, I would pay $871.79. I do plan on putting the extra money towards the loan with the highest interest so around ($628.21-$1128.21). Is this a smart plan to do? I do plan on paying all my loans in 10 years but I would like to have the lowest possible minimum monthly payment and then put extra payments on the highest interest. Once you choose a repayment option is it possible to change it? Also, will the monthly minimum payment in second to fourth year and subsequent years change depending on the loan balance at that time or is it set in stone when deferment ends? Any advice would be appreciated! Thanks! [link] [comments]  |
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