How much is too much to re-fi? Student Loans |
- How much is too much to re-fi?
- Question regarding my loan payment
- Should I refinance ?
- Can federal loan terms just change randomly?
- Requesting Advice: Navient Late Payment
- Is Refinancing While in Chapter 13 Bankruptcy Possible?
- Figuring out total loan amount
- Freedom Doc Prep Scam and Credit Question
- Came into money, credit score harshly effected and the smartest way to pay off student debt.
- Out of school for 5 years, now considering a new program. Will interest from former loans be capitalized if I re-enroll?
- False advertising / Bait and Switch with Common Bond
- Help with loan information
- Shopping refinancing sites
| How much is too much to re-fi? Posted: 08 Dec 2019 07:42 PM PST Sooo... I after paying my way through undergrad by waiting tables, 6 years later I decided to get a Master's. I now have $211,000 in student loan debt. I would love to re-finance and have only tried one company so far, from which I got a a big fat "no." My credit score is in the high 600's. Is it the amount they are balking at? Are there any companies who handle larger amounts? [link] [comments]  |
| Question regarding my loan payment Posted: 08 Dec 2019 06:53 PM PST My dad made a loan payment of $6600 last Monday to get rid of my remaining principal balance on my loans last Monday. He used the Capital One bank app to pay it off. My question is why is it not posted as of today? Loan servicer is Fedloan Thanks! [link] [comments]  |
| Posted: 08 Dec 2019 09:03 AM PST Hi all! Thank you for taking the time to read this. I've only recently been able to actually start paying more than just the interest on my Sallie Mae loan and am now looking at how to lower how much I'll actually payback. I currently have ~$16000 to repay with a 10% interest. I've been shopping around some sites. Lendkey seems to be the lowest at 3.49% but from what I've been reading through reddit, that initial rate can go up once I start handing in paperwork. Sofi has me at 4.49% on a 5 year. With Sofi I also saw a finance charge of ~$2400. So total I'd have to pay back $18400 total to Sofi. Has anyone here refinanced - would this be a good idea despite the finance charge ? My monthly payments would decrease by ~$100 a month. Thank you! [link] [comments]  |
| Can federal loan terms just change randomly? Posted: 08 Dec 2019 09:17 PM PST My partner went to school, never graduated. Wants to go back but cannot get his transcripts released due to unpaid debt. He has income based repayments but apparently one of his loans changed providers and is now not eligible for income based repayment. Are they allowed to just change things like that? I recently went back to school and now I am a bit nervous. [link] [comments]  |
| Requesting Advice: Navient Late Payment Posted: 08 Dec 2019 10:04 PM PST For context, I have been repaying my loans with Navient for about four years and have been very diligent about making payments every month (due date on the 8th of every month). However, this month I slipped up. Due to some issues with my home's wifi, I wasn't able to make a payment around the 1st-3rd of the month (when I normally would) and forgot about it for a few days. Tonight, when I realized my mistake, I went online and made a payment immediately. The problem was, it was five minutes past the due date, technically making my payment a day late. So my question is, has anyone also mistakenly made a late payment with Navient and can provide some advice on what to do next? I've read some sources that say contacting them and explaining how this is my first offense could help me avoid late fees. Any truth to this? Any advice or insight on what to expect would be greatly appreciated. Thanks! P.S. I have enrolled in auto pay to avoid this headache again in the future. [link] [comments]  |
| Is Refinancing While in Chapter 13 Bankruptcy Possible? Posted: 08 Dec 2019 07:04 PM PST Hello All, I am going to be out of chapter 13 bankruptcy early 2021. My student loans are paid outside the bankruptcy plan. I will have one private student loan paid off when my plan is discharged, but I was wondering if I could refinance my other three right before I am finished? Any thoughts? I think one refinancer denies anyone in bankruptcy. [link] [comments]  |
| Figuring out total loan amount Posted: 08 Dec 2019 06:39 PM PST Hi all, I'm trying to navigate this whole loan process post graduation and am having some trouble. I thought originally I only owed on my parent plus loan but now after looking into it further I think I owe on direct subsidized and unsubsidized loans that I received through financial aid I guess? I say "I guess" because I assumed the financial aid was included in my parent plus loan as one thing. Is my thought process correct in that they are combined or would my financial aid be a separate amount on top of what I owe for my parent plus loans? [link] [comments]  |
| Freedom Doc Prep Scam and Credit Question Posted: 08 Dec 2019 09:54 AM PST I believe I posted in here a few weeks ago how they had gotten me and I felt like an idiot. Well, for anyone who has JUST fell for the scam (and this may not work for everyone, I'm talking 1-2 days) I was able to call the number on the Freedom Doc Prep site and get my money refunded that I had to "pay" for the preparation. In my situation, I had already mailed off what I needed to on my end. I thought everything had been voided, but even though I had cancelled the "services," my loans have STILL been consolidated. I can't say that I'm angry. Although, does anyone know when my credit report will stop showing my debt as doubled because the previous accounts are still on there? The old accounts DO show 0 on the nslds gov site. [link] [comments]  |
| Came into money, credit score harshly effected and the smartest way to pay off student debt. Posted: 08 Dec 2019 10:36 AM PST I'm just going to jump right into this. I have 2 student loans, one through Sallie Mae and another through Wells Fargo. I have been deferring them because I'm in the military and went straight on deployment, but I recently returned. When i was on deployment, my co-signer recieved several messages from Sallie mae that they were going to send me to court and other things for being late on a payment or something, which I think was miscommunication about how long I needed to defer the loans. My cosigner was able to clear everything up (that I had deferred them until my return, actually a little more to be safe) but when I returned, my credit score dropped from 730 to 520. My only other debt is my vehicle but that was auto-payed and didnt miss anything. Could the previous situation be what dropped my credit score? On a good note, I just received about 12k ( a little more ) and I want to start thinking about the best way to approach paying off these student loans. The one through wells Fargo is just under 7k and the one with Sallie mae is just under 10k. Do I want to kill off one of them entirely, or consolidate them and pay a large chunk off the bat. Or are there better options I'm not seeing? TL;DR Credit score dropped 200 pts due to what is assumed miscommunication, came into 12k and want to use to pay either 7k or 10k loan. [link] [comments]  |
| Posted: 08 Dec 2019 10:24 AM PST Title says most of it, but context: I graduated in 2014 with a fairly useless degree. I'm considering going back for a BS in Computer Science, but I'm worried that the interest from my previous undergrad loans will capitalize. I've made payments every month, but have not been able to afford to pay more than interest payments for a little over a year. I'm in the position where I kind of have to re-enroll no matter what if I ever want to pay them all off, but I'd like advice on how I may avoid capitalization. [link] [comments]  |
| False advertising / Bait and Switch with Common Bond Posted: 08 Dec 2019 01:48 PM PST Cautionary Tale for those considering refinancing with Common Bond. I've been shopping around for refi on my loans (198k). My credit score is > 800 and I make enough a year with very low housing costs and no other debts that I have a very low debt to income ratio. In my mind I'm kind of an ideal customer for the bank. I'm looking for lowest possible 5 year refi. The front page of CommonBond (as of writing of this post) advertises rates of 1.85%/3.21% for variable/fixed loans. I went through the application process (divulging personal financials, credit pull). I was approved for the fixed refi at 3.21%, which is a good rate, but I wanted lower so I asked for a variable quote. A few days later I get the reply that I can do a 5 year variable refi at ... 3.21%. Surprised I contacted customer support, pointing out it was pretty unusual to have a variable rate the same as fixed. They said they would check on it, which the did and said, nope, that's the rate we are offering. Seems like false advertising to me, and not harmless as it involved a hard pull on my credit plus exposure of all my financial details to yet another company. So there you have it. Happy to hear your critiques if you think I'm off base, but I for one feel bait and switched. [link] [comments]  |
| Posted: 08 Dec 2019 07:10 AM PST Hi everyone, Let me start off by saying thanks for taking the time to read this. I took a couple years after graduating high school in 2014 with D's. School wasn't my thing so I took some time. I ended up going back to a local community college in 2017 part time while I work. I am about graduate with a 3.5gpa after finals next week. I will be receiving my Associate in Science degree for Business Administration. The school didn't have a finance major, or I would've chosen that upon admittance. I didn't use any FAFSA for this schooling nor any other types of loans. I have paid off my dues every semester upon registering. Therefore I have zero debt with my associate. Now that my background info is out of the way, I am in a dilemma on how to attack the next step. I have come to really enjoy the world of finance. I've submerged myself into investing and trading for the last 4 years as just a hobby with my main job. I'm currently looking at schools to apply for. I'm not too worried about admittance as my GPA will get me into most schools except Ivy's and some A levels. I'm not too worried about the debt lingering over me after I finish school. As the positions I have narrowed down have a good return. My main question from all of you guys here is what and how should I start the loan process. As I continue on and transfer to Finance for a bachelor degree I am going to have to stop working. Therefore I'm going to need a loan to cover tuition. I am also 24 years old in case this helps. Should I go to one of the crap mail letters I get "discovery" or my bank "citizens bank". I'm aware FAFSA will probably provide me with around 5k for school. But I'm going to need way more than that. Some schools i've been looking at are averaging between 20-40k. Basically just need some advice on figuring out the most efficient process. My parents are not helpful anymore. They don't understand employers don't give a damn about associate degrees. Therefore, I'm taking this loan initiative all on my own without asking them for their advice on how to do it. I always hear about these people who I graduated high school with that got their bachelors and didn't have to start paying off loans until 6mo-1year after graduating. Thanks for taking the time to read and respond. -RS (P.S. Sorry for my lack of grammar, it's early and finals week. I'm so over writing but need this advice...) [link] [comments]  |
| Posted: 07 Dec 2019 10:30 PM PST Hi guys! I am currently shopping refinancing companies. I know they do a soft credit check to pull rates estimates but a hard check for the final rates. I've heard that the hard credit checks disappear from your credit score if you do them all within a couple of weeks. From experience has anyone found this to be true? Scared to run so many hard credit pulls! Thank you! [link] [comments]  |
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