With an extra payment tonight, I officially just paid off 25% of my college debt after 1 year out Student Loans |
- With an extra payment tonight, I officially just paid off 25% of my college debt after 1 year out
- 30K Student Debt Graduated in May - Currently Down to 24K - 23 y/o
- Postpone Malone
- Recently Married, spouse asked for my income information on her IBR recerification; danger?
- Loan chess. What is the best move?
- PSLF IBR question
- Deferring/forbearing Navient loans??
- Um...breached loan contract?
- Should I just wait for the tax bomb
- Do they calculate IDR repayment plans based on AGI or taxable income (AGI minus standard deduction)?
- Navient still asking for $ after payoff
- New Fedloan Alert
- Help! 4.80% 10 Year Fixed Plan vs 6.4% 8 Year Plan!
- Options for an international student to refinance student loan for lowering intrest rates, if any
- Equitable Acceptance?
- Chance of ever loosing IBR?
- MFA student loan in default. Rehabilitate or refinance?
- ITT Tech loan repayment and shady dealings with a particular lender. Need advice.
- Girlfriend is out of deferments and can't afford the new payments due on her Parent Plus loans. What can she do?
- Excellent resource for determining IDR repayment differences for married borrowers
- Is there a way to calculate your exact monthly IDR repayment amount? Not an “estimate” as provided on the studentaid.gov website.
- Where to get a small private loan.
- Should I wait to refinance again?
- Anyone have experience with docinaid?
| With an extra payment tonight, I officially just paid off 25% of my college debt after 1 year out Posted: 30 Dec 2019 05:45 PM PST Graduated in December 2018 with ~46k in loans. Started new job in January, and within 3 months was throwing huge lump sums at dear ole' Sallie Mae. Paid $9.5k by September to finish the Sallie Mae loan, while making regular monthly payments on another private and my fed loans. As of an hour ago, I had paid ~11k total towards loans this year (could've been more but also bought a "new" (used) car, planned 2 international trips, and moved into my own apartment). Did the quick math, and with the extra $500 before the end of the year, I can say I paid off 25% of my starting loan amount within my first year. And now I really have! Dipped into my savings, but the motivational boost from the 25% milestone is worth it. I know this is a small dent compared to how much others may have, and I've made some short-term priorities over the debt (moving out and traveling), but I'm still REALLY DAMN HAPPY about this amount so far. The $35k left seems really daunting, but much less so when I think I already paid 1/4. [link] [comments]  |
| 30K Student Debt Graduated in May - Currently Down to 24K - 23 y/o Posted: 30 Dec 2019 02:08 PM PST Salary is 42k. I've fit $1,000/month in my budget to attack my debt. Rent is $1300 but it is split with my girlfriend. Living in a high cost of living area. Looking for opinions on if I should look to get a second job on the weekend to speed up the process of becoming debt free. Also hopefully looking for encouragement to continue my journey or to provide encouragement for those in similar positions. 23 years old and definitely making sacrifices watching my peers enjoy themselves by treating themselves to fancy items or trips frequently. Would appreciate recommendations for weekend/side jobs I work in financial services. [link] [comments]  |
| Posted: 30 Dec 2019 12:26 PM PST I'll keep it short and sweet: has anyone here had experience postponing student loans on account of going back to school (specifically in another country) with nelnet? I'd love to hear anyone's experience with this lovely subject [link] [comments]  |
| Recently Married, spouse asked for my income information on her IBR recerification; danger? Posted: 30 Dec 2019 08:06 AM PST My wife and I married last summer, and my wife was recently asked to recertify income. As part of that, it asked her if she was married and had access to my income; I had never applied for federal aid so I needed to create an account on the site in order to supply my tax information for her recertification. She's currently on IBR and has been for several years, and we plan on using "married filing separately" for our taxes. (We obviously haven't yet had the chance to file while married.) The "are you married" question we thought was a little weird, only in the sense that we haven't filed married yet -- i.e. is the question asking "as of right now," or when taxes were last filed that the question means? Obviously when it pulls my tax info, it will show I filed single (as she did) so I just find it weird that the question about marriage isn't date dependent somehow. Is there a chance that they will use my income and switch her to REPAYE (where both of our incomes would be taken into account)? We had hoped that she could continue on IBR for another six years, when PSLF will hopefully kick in, without accounting for my income. Long question short -- will the request for my income potentially mean that she will no longer qualify for IBR? [link] [comments]  |
| Loan chess. What is the best move? Posted: 30 Dec 2019 08:03 PM PST I have $80k in outstanding student loan debt at 6.125% interest. I'm currently on REPAYE making the minimum payment of $300 per month. I also have $15k in credit card debt, which I am aggressively paying off. I have a house and the mortgage is $800 per month with an interest rate of 4.125%. The outstanding principal on the note is $40k. This property is owned jointly among three family members. My monthly net income is $3,500. One of the parties that jointly owns the house has offered to pay the outstanding principal balance, leaving me with the ability to dump $2k per month towards my loan. This offer is contingent on the 40k being paid back once the house is sold. The property is worth ~180k. Would this money be better served by paying down the loan? Is it better to pay off a tangible asset (the house) and aggressively pay down the loan, hedging that student loan reform may occur in 2021? [link] [comments]  |
| Posted: 30 Dec 2019 06:50 PM PST I'm in both programs. I have the option for tax sheltered accounts with my profession (401k, TSP etc). If I maxed by contributions to those accounts would the IBR still calculate off my gross income, or off my income after contributions? [link] [comments]  |
| Deferring/forbearing Navient loans?? Posted: 30 Dec 2019 06:47 PM PST Hey just wondering if anyone has any advice for putting off payments on Navient student loans. They won't let me do any kind of income driven plan because they said they would need to do a financial audit of my co-signer to make sure none of us can pay it. This is not an option, nor is getting any help from my co-signer. All I want is to postpone these egregious payments for a little while. It's crippling and I have a family/mortgage. I've even gone to community college to go into "in-school deferment". Any advice would be appreciated! My loans are more than my mortgage payment!! [link] [comments]  |
| Posted: 30 Dec 2019 09:19 PM PST Please tell me if I'm wrong... my first loan payment was due 12/15/2019. I called 11/18/2019 to change my payments to 12/29/2019. It was confirmed on my account and my new contract even stated I'd be charged the 29th of each month. I called my loan providing bank three times to confirm the date change. They all confirmed the 29th. Their sweet hearted representatives told me everything was successful. Turns out, the bank had tried charging me 12/15, I had received three late notice emails and a threat to lower my credit score because I refused to pay. Lolll. I paid 12/29/2019 (the correct date according to the new contract)...more than double of the agreed loan payment. According to a representative, they made me pay for December and January as a "late penalty" although according to my contract, nothing was actually late. I just received a statement not too long ago to pay more than what I just paid...due January 29th. I was just told by a representative that I had I already paid for Jan—— Ok. I won't vent too much. This is considered one of the most professional loan providers, but..is this just a cold case of breaking a contract ???? Or a "misunderstanding"... Is there anything legal I can do about this or will I drown like this for 10+ years? Can I back out of this entire loan, this is only the FIRST payment.. [link] [comments]  |
| Should I just wait for the tax bomb Posted: 30 Dec 2019 08:50 PM PST I ran all my loans on unburyme.com. $175000 at 5.74%. I did the math on multiple monthly payments and it became clear that paying the minimum and dealing with the bomb at the end was the way to go. Less money in the long run and less money overall. Now, obviously, if I had to get my balance to zero this wouldn't work. But unless I'm missing something, I'll end up paying about 180000 on my loans and tax bomb. This is absolutely better than killing myself. With that being said, are there any drawbacks I'm unaware of? [link] [comments]  |
| Do they calculate IDR repayment plans based on AGI or taxable income (AGI minus standard deduction)? Posted: 30 Dec 2019 01:57 PM PST So I was looking at the IDR repayment calculator on the student aid.gov website, and it says to enter income for the repayment estimator as my (myself and husband, if we decided to file married jointly) combined adjusted gross income (taxable). I have already done a tax return estimate for our 2019 taxes and our combined AGI is $112k, but taxable (after standard deduction) is closer to $88k. Which of these amounts do they use to calculate IDR plans? I would assume if they specify "taxable" that it would be the lower amount? I got married this year so have always just filed single before. My current payment is on IBR plan at $630/month based on my prior return of AGI of $69k/year. My loan amount is $60k. We are planning to file jointly though because my husband has only been working part of the year and is currently unemployed. If my husband is currently not working but they calculate our income based on the 2019 tax return how does that work? Do I let them know his income has changed to $0 now? I am concerned my payment will go up even more and that would be crappy since he is not working, obviously. [link] [comments]  |
| Navient still asking for $ after payoff Posted: 30 Dec 2019 04:08 PM PST My husband recently paid off his Navient student loans. He looked up the payoff amount November 10 and paid it. According to Navient's website, it got kicked back the same day (our bank could not verify this--they told us for a couple of days the payment just wasn't going through). So a couple of days later, he called and asked for the full payoff amount, and paid it. He reiterated several times if this would be the FINAL payment and account would close afterwards; they confirmed that was correct. Well now on the Navient website it is saying there is a balace of $105.07 due--$1.41 of which is interest accrued, and $103.66 is principal. Called back and theyre saying since the last payment didn't get made before the "due date" we now owe that as interest. I would understand the $1.41, but hoe could we possibly still be oweing on principal??? [link] [comments]  |
| Posted: 30 Dec 2019 07:45 PM PST The Fedloan homepage Alerts and Messages section states the following "Need to submit an IDR request: [website link]." I did not receive the customary letter, and I recertified under PAYE in September 2019. Has anyone else had Fedloan tell them they need to submit an IDR request out of the blue like this? [link] [comments]  |
| Help! 4.80% 10 Year Fixed Plan vs 6.4% 8 Year Plan! Posted: 30 Dec 2019 03:57 PM PST Hi, Here are the numbers: Total Principle of $80,269.91. Laurel lists amount to be refinanced at $80,708.27 (not sure why slightly higher).
My plan is to sign up for Standing Order so I can make automatic debit rates to get the Laurel Road rate down from 10 years closer to what I'm on track for now (8-7 Years). It seems like this Laurel offer is a good deal I shouldn't pass up? What do you guys think? Is there any reason I shouldn't accept their offer? Lower interest- Check Lower monthly payment- Check Pay overall less interest- Check (Gotta crunch the numbers) Pay it off in roughly the same amount if not less amount of time- Check [link] [comments]  |
| Options for an international student to refinance student loan for lowering intrest rates, if any Posted: 30 Dec 2019 07:23 PM PST I want to explore if there are any options, for an intentional students to refinance student loans. The main reason is the intrest rates are higher than in US. One move to clear my loans is to refinance. Discover has an option but need to have a co-signer. But is there any other options that I can go without any co-signer based on my job or something..? [link] [comments]  |
| Posted: 30 Dec 2019 12:15 PM PST Has anyone else had to deal with getting out of a contract with this 3rd party company due to a service that a student loan company hasn't been providing? We keep getting the same guy answering on the number provided even though we are under the impression that Equitable Acceptance is a legit company so why only one person answering? They tell us to go to the company directly "Student Debt services" but their number just rings and a voicemail is set up for a "National Student Services" stating you leave a message and then an error message comes on and the call is hung up. United Student Care is who we originally got approached by so we are confused. We have reported all companies involved to the FTC. But are being threatened by Equitable Acceptance to send us to collections for an $800 amount unpaid although the contract signed was for an amount of $1414 in 2017 and we have paid over $2k to this company. Question is has anyone else been a victim of this? Has anyone dealt with Equitable Acceptance and were sent to collections? I'm starting to really stress out over here. My application was never resubmitted like the services i was paying for were suppose to provide. Any advice or information would be greatly appreciated! [link] [comments]  |
| Posted: 30 Dec 2019 01:32 PM PST Did the math and with my high debt I actually save money doing IBR and taking the tax bomb at the end. My greatest fear though, is the program being canceled 10-15 years down the line leaving me high and dry having a giant loan. So my question is, if I enter into PAYE. Is there a contract or anything along the lines of being "grandfathered" in and proctected from any potential policy changes down the road? Don't feel comfortable with the idea of banking of my balance being forgive at the end of 20 years without anything in writing to protect me. Thanks in advance! [link] [comments]  |
| MFA student loan in default. Rehabilitate or refinance? Posted: 30 Dec 2019 05:15 PM PST I never really took my financial situation very seriously in the past, but have spent the last year or so trying to piece it back together. I currently have $16,000 in credit card debt that I am paying back through a loan, $2000 federal student loan that I'm putting all my extra money at to get rid of as quickly as possible. Then I have an MFA student loan that has been in default for 10 years, so it didn't show up on my credit report when I first started taking this stuff seriously. The interest rate is 6.99%. I contacted the Michigan department of collections today and they told be about the rehabilitation program to have 9 consecutive payments to get it out of default, I also looked online at earnest and others like it and I could refinance at about 4.5% which would save $2000 to $3000 over the 10 year repayment plan. Since the defaulted loan isn't on my credit report my credit score is 797 on experian. My question is, whats the benefit of rehabilitating if I can save money by refinancing? [link] [comments]  |
| ITT Tech loan repayment and shady dealings with a particular lender. Need advice. Posted: 30 Dec 2019 11:07 AM PST ITT Tech made out a personal loan after I wasn't able to secure a Stafford Loan through US Dept of Edu. The loan somehow ended up with a lender called First Associates, LLC. Roughly $11k. I've been paying the loan for years at this point after having not been paying it at all. Mostly because I didn't know it existed. Here's where I may have messed up... I'm pretty sure I was made aware of the account when they reached out to me via telephone. They directed me to the site to pay my bill and have called me inconsistently when it was late. I get a 1098E for tax purposes but this account is nowhere on my credit report. AND they don't seem to have me in their system. I called today to see why my payments weren't going toward the current due, instead only to the principal balance. I give them the account number and they insist it doesn't exist and that they need my social security. At that point, I hung up. Who should I speak with to see if this is even a legit lender and what my responsibilities really are to paying off this account? Are there any professional services that I can get either free or affordably to lend some information on how to proceed? Edit: sorry the title is slightly off-topic. I'm a little frazzled. Edit2: Found it! It's stated as being Charged Off from a lender of a different name. FA - Peaks. Apparently First Associates is a loan servicer. Still not sure how to proceed though. [link] [comments]  |
| Posted: 30 Dec 2019 04:26 PM PST Hey all, I'm trying to help my girlfriend make sense of her loans and it seems like you guys usually have some pretty solid advice. For background she attended a state school (as an out-of-stater), graduated in 2016 with a double minor in environmental/marine studies and has had a hell of a time getting a job. She's been able to get a few temp jobs in retail and substitute teaching and only recently got a steady part time retail job. This however coincided with her having used up her available deferments. She's understandably very nervous about she's going to deal with this and we keep ending up in a loop on the Great Lakes site. Here are the loan details: Parent PLUS through Great Lakes
Federal loans through Nelnet:
I had her apply for REPAYE for her fed loans tonight which should keep them manageable for the time being. The Parent PLUS one is a concern though with a new monthly bill of $1,045/month. According to the repayment option questionnaire, her loan types aren't eligible for IBR. The lowest rate she can get from them is $541/month which will be a huge challenge considering her hours just got cut now that the holidays are over. Would her best option be to consolidate and refinance? She's still applying around and hoping to increase her income but there's always a lot of uncertainty while job hunting. Her mother really isn't on board with paying this amount for her monthly (it's a whole situation, hindsight aside she knew what she was signing and was guided into picking a PLUS plan by a local college planning office). I'm currently employed full-time and in repayment for my own loans so I can't really help her either. I just need to reassure her that her situation isn't hopeless and was wondering if somebody could help point us in the right direction. I can provide additional info if it helps. Thank you! [link] [comments]  |
| Excellent resource for determining IDR repayment differences for married borrowers Posted: 30 Dec 2019 03:17 PM PST In my search for better repayment calculator than what is provided on studentaid.gov, I found this excellent website that provides the actual calculations for IDR repayment and differences to look at if you are married and in an IDR plan. https://www.vin.com/studentdebtcenter/default.aspx?pid=14352&catId=74141&id=7250547 [link] [comments]  |
| Posted: 30 Dec 2019 02:36 PM PST So the information I have to submit to calculate my repayment for IDR plans is my tax return. If I know my student loan amount and my AGI why can't the student loan calculator on studentaid.gov provide me with an exact monthly payment amount? The range I am getting is up to a three hundred dollars difference. Is there a way to figure out the exact amount prior to recertification? [link] [comments]  |
| Where to get a small private loan. Posted: 30 Dec 2019 07:59 AM PST Hi everyone. Sophmore here. Please bear with me here as I am always lost when it comes to student loans, but I'm learning. I have loans through fafsa, partially because of my parent's bankruptcy and a bunch of other factors. I was looking to find a loan that I can get that will pay for my meal plan (about 2k) & a new computer + textbooks for the next semester; as my financial aid will not cover it.. and even with working fulltime, I am poor lol. Anyway, where should I be looking? Any advice on if I should go to my regular bank or should I go a different route? Thank you so much :) [link] [comments]  |
| Should I wait to refinance again? Posted: 30 Dec 2019 01:44 PM PST I consolidated and refinanced last year with Laurel Road and currently owe 41k @ 5.25%. I have since had an ~11k increase in income but have taken out a car loan that I owe 13k on currently. Would the car loan essentially negate my chances for a better interest rate through refinancing a 2nd time? I am planning on an even bigger jump in income (~20k) later this year so should I wait until then or would it be worth looking into now? [link] [comments]  |
| Anyone have experience with docinaid? Posted: 30 Dec 2019 12:09 PM PST I received mail informing me that I am eligible to consolidate my student loans from fed loan through docinaid and I was wondering if this was a scam. However they did have information on my loan accounts, last 4 of social and other info a scammer normally wouldn't have access to and informed me that once I apply and pay a fee that's inclusive of the first 3 months of payments (another possible red flag?) that I can cancel my auto pay on my existing loans until they consolidate them. Advice? [link] [comments]  |
| You are subscribed to email updates from /r/StudentLoans: Reddit's hub for advice, articles, and discussion about educational loans. To stop receiving these emails, you may unsubscribe now. | Email delivery powered by Google |
| Google, 1600 Amphitheatre Parkway, Mountain View, CA 94043, United States | |
No comments:
Post a Comment