Borrower defense borrowers invited to suggest punishment for DeVos Student Loans |
- Borrower defense borrowers invited to suggest punishment for DeVos
- Pros/cons of closing a loan out vs paying on the highest interest loan
- Debt Payoff Calculator that Accounts for Accrued vs. Capitalized Interest on Student Loans?
- How to overpay on Heartland/ECSI without paying a convenience fee
- How to pay off Perkins loan through Heartland without getting changed 3.95%?
- Just got my financial aid package and need help
- Taking a gap year and “grace period” is almost up. What are my options?
- Nursing student loans California
- Graduate Student Unsubsidized Loans
- Parent Plus Loans vs. Private Loans
- Public School Teacher with $18k with Great Lakes - need some guidance
- I need basic help!
- When do you start paying student loans off?
- Need Advice Tired of just endless interest circle
- 64k in student loans. Current IBR going PSLF.
- Extend sudent loan and use some xtra for principal?
- Questions on Income Driven Repayment
- What will happen after my loan rehab...
- Studying Abroad
- Married, both with loans - payment under REPAYE
- How does interest Rate accrue for upcoming student loans ?
- Capitalization of Interest after grace period?
- Basic Question
- Refinancing?
- Borrow of defense ( Student Loans )
| Borrower defense borrowers invited to suggest punishment for DeVos Posted: 07 Jan 2020 06:10 PM PST |
| Pros/cons of closing a loan out vs paying on the highest interest loan Posted: 07 Jan 2020 08:32 PM PST I received some gift money recently and am considering using most of it towards my student loans. I have one loan it could cover and then some, but that loan also has the lowest interest rate. I am low income and currently on a plan where I am not required to pay any set amount per month. I will be changing jobs soon hopefully, and do not know what stability I can expect yet. Not being certain if I can make regular payments for a while, what would you recommend I do: cut away at one of the loans with high interest first, or nip the small one in the bud and use the rest towards the others? Thanks in advance... [link] [comments]  |
| Debt Payoff Calculator that Accounts for Accrued vs. Capitalized Interest on Student Loans? Posted: 07 Jan 2020 07:14 AM PST I've got a decent handle on our loans, but one thing I've noticed with some of them while we're on an Income Base Repayment (IBR) plan is that interest only accrues off the principle and capitalized interest, not the total accrued interest. Looking at various debt payoff calculators, I have yet to see one where I'm able to track that and figure out which loans to pay down based on it. I'm thinking of trying to create my own through google sheets / excel, but thought I'd ask this community if there were any apps or sheets along those lines, first. Edit: Lots of folks not engaging with the substance of my question and just saying avalanche method is best, which I'm not generally disputing, but I can see of some cases where paying of slightly less interest loans to pay down the principal quicker is better, and that's what I'm trying to calculate based off a dozen different loans or so. [link] [comments]  |
| How to overpay on Heartland/ECSI without paying a convenience fee Posted: 07 Jan 2020 11:48 AM PST Alrighty, so you will have to incur postage, however, if the convenience fees bug you as much as they do me and if you want to support USPS instead of heartland, then this is how you do it: Write a check to ECSI for the amount you want to pay, include your school code and the last four of your social (or your account number). Then mail that check to: ECSI PO Box 718 Wexford, PA 15090 You also then have to wait probs a bit for that to post to your student loan account. It's shitty and snail mail, but that's how you can circumvent them. [link] [comments]  |
| How to pay off Perkins loan through Heartland without getting changed 3.95%? Posted: 07 Jan 2020 06:04 PM PST I am going to pay off my Perkins loan of 1k dollars. I was going to just do it in full, but the service fee is going to cost me 39.5 dollars if I do it online. Are there ways around this without sending in a check for a grand? [link] [comments]  |
| Just got my financial aid package and need help Posted: 07 Jan 2020 11:59 PM PST I'm going to uni this fall and after the federal subsidized, unsubsidized loan, scholarships, and work study I still owe about $6000. Do I take out a third loan or a private one the school recommends? [link] [comments]  |
| Taking a gap year and “grace period” is almost up. What are my options? Posted: 07 Jan 2020 07:27 PM PST Right now I'm currently taking a gap year. I have been since May of 2019 after I graduated from community college. I was supposed to transfer and continue on at 4 year university just an hour away from me. Overall, it didn't work out and I decided to take a gap year for mental and financial reasons. This was so I can feel secure for future decisions as well not put all of my money into a university I wasn't too sure about. Also my mental health just needed a break from school. Anyway, as most students I took out loans to pay for tuition at my first college. As my grace period is coming up I want to know what my options are when I re-enroll for the fall 2020. I'm applying to schools now and I'm pretty solid of what I want to do as well my mental state is way better. The emails I have been getting are saying I would need to start paying in April of this year. But I plan to be back in school of August 2020. Is there a way this payments could be delayed or even on hold? I still plan on getting loans in the future to help pay for tuition so I don't want to be paying back my debt while adding on more for the same reason. I know this is a silly question but whenever I contact someone I never get a straight answer. Has anyone else dealt with this? And what steps should I take to move forward? [link] [comments]  |
| Nursing student loans California Posted: 07 Jan 2020 12:17 PM PST My husband finished nursing school in 2018 and has a mix of federal and private loans. We have been deferring payment until now due to hardship and will finally be able to start repayment in March 2020. I checked the amounts on the loan and federal is $50,000 and private loans are at $54,000. Currently we are planning on doing the classic repayment for all federal loans which is comes out to $535 for 10 years maturity date being 2030. The minimum for the private loans is $677 a month and says maturity date is 2034. Should we just pay these as we go or look into loan forgiveness. What are our options in forgiveness or repayment loans. We are drowning in credit card debt and student loan debt. Our financial plan is to pay off the credit card debt first ($50,000) which will be done in 18 months. [link] [comments]  |
| Graduate Student Unsubsidized Loans Posted: 07 Jan 2020 08:22 PM PST So I just started graduate school right now and only have $5k in federal unsubsidized loans with a 6.08% interest rate and I estimate I will be needing about at least $50k more. 1) How do I go about paying off the interest since it is accrued daily. Do most people just wait until the end of the month and pay off the interest? 2) When I do get more loans do I also wait to pay off the interest monthly for each individual loan? What is the best way to go about this? Thanks! [link] [comments]  |
| Parent Plus Loans vs. Private Loans Posted: 07 Jan 2020 07:49 PM PST On a general, high-level view, are parent plus loans better than private student loans? I've never taken out a private student loan before. Only took out federal sub, unsub, and parent plus loans (that are under my mom's name but made a mutual agreement that I'd pay the total in full). I've recently just paid off my federal sub & unsubbed loans (been paying monthly and finally made a lump sum $23k payment to pay off!). Now I just have ~$19k left in parent plus averaging around 6.8% in interest. Was wondering if this was better than private loans because my federal sub & unsub interest rates averaged around 4-5%. [link] [comments]  |
| Public School Teacher with $18k with Great Lakes - need some guidance Posted: 07 Jan 2020 07:44 PM PST I graduated with a Master's this past December and I plan on making a career out of teaching music in public schools. I have three loans with Great Lakes:
Total: $18,425 I spoke with a rep from Great Lakes and they said consolidation is unnecessary and I would also quality for IBR if I wanted to go that route. I am in grace until this July and I just got married this past November. My wife is planning on going to nursing school this fall and will most likely take out loans. My 2018 AGI was $10k and hers $26k. I'm right now working part time at a Title I public school but hope to move to full time next year. I've made some small payments during school and managed to keep the interest under control but I don't think any of them have gone to the principal. Questions: I know this is considerably less than what some have on here, should I try for PSLF or just try to get this loan paid off as soon as possible? Should I consolidate when I go into repayment? Is IBR the way to go? Should I consider PAYE, ICR or the Standard plan? Is PSLF the best route for me or should I consider Teacher Loan Forgiveness Program? I'm very overwhelmed and I'm not the best with money, but I would like to set us up for a good future and make sure I do this right since we have plans to buy a house, start a family, etc. Any advice would be greatly appreciated! [link] [comments]  |
| Posted: 07 Jan 2020 07:32 PM PST I feel really silly but I don't know where to start. I'm a senior in college and took out a federal unsubsidized loan three semesters ago. This only pays for half of my tuition each semester. My school seemingly has limited scholarships (mainly for graduate students) so that doesn't seem to be an option yet. I was able to scrape together enough money before, but I've decided it's probably best to get another loan. How can I tell if I've exhausted my federal loan options? If I need to get a private loan, what should I look for? Do you recommend any? Thanks so much for any help! [link] [comments]  |
| When do you start paying student loans off? Posted: 07 Jan 2020 07:32 PM PST I'm starting at a University this month and have to apply for student loans. When would these be paid back? I'm hoping to get my PsyD so I'll have many loans to come. [link] [comments]  |
| Need Advice Tired of just endless interest circle Posted: 07 Jan 2020 07:08 PM PST |
| 64k in student loans. Current IBR going PSLF. Posted: 07 Jan 2020 02:20 PM PST I have $64k in student loans with Great Lakes. I just submitted a Federal Direct Consolidation Loan Application and have been paying $154 a month on an IBR plan for the past 4 years. I have been a federal employee for six years now, and once the loans are consolidated I plan on submitting my public student loan forgiveness documents. Questions:
[link] [comments]  |
| Extend sudent loan and use some xtra for principal? Posted: 07 Jan 2020 01:50 PM PST My student loans are durrently set up into6 seperate loans, 3 have balance of about 7k and all have interest at 6.8 percent. The other 3 are about 4k each and have an interest of 3.5%. I am uncomfortable switching to income based because i like knowning its fixed and it wont suddenly jump up to fouble because of my income or paperwork mismanagement. I currently pay 410 a month, and the extended would drop it to 215. I could use the extra 200 dollars in the winter when i make a lot less money, but in the summer i would be able to pay extra in the hopes of an avalanche to get tid of some of those higher interest rate loans. Is this feasible? Side question, does applying for extended loans affect my credit score? I plan to purchase a house soon and want to keep that looking nice and under control right now. [link] [comments]  |
| Questions on Income Driven Repayment Posted: 07 Jan 2020 10:57 AM PST I currently have ~26k in Direct Subsidized & Unsubsidized Stafford loans at 4.39%. I'm paying through myfedloans. I've been currently living at home and about to start working again (I was struggling with depression and had to move back to get myself sorted out mentally). My monthly payments are $279/month currently - which is too high for me. I have a ton of parent PLUS loans that my parents are taking care of for me until I get on my feet with a higher paying job and can contribute. My plan is to start bartending and driving for lyft as I search for a more serious job this year. I've been looking into IDR plans through myfedloans. I just have a couple questions....
Thank You! Sorry if this information is easily searchable - I couldn't find clear answers myself. [link] [comments]  |
| What will happen after my loan rehab... Posted: 07 Jan 2020 08:07 AM PST Long story short, I have about 16k in loans which I defaulted on after college, which has turned into about 27k including interest and fees. It's been about 12 years. I'm 3 years sober, have a good job that pays me approx 65k, and my life is finally manageable. I've wanted to get cracking on these loans but have had trouble navigating the loan system and kept deciding not to "poke the bear" so to speak. ANYWAY, last month I got notice of an impending garnishment and sprang into action to try to finally address this. My collection agency is ALLTRAN and I've entered into a rehab agreement for $398 a month which is honestly pushing it for me. I live in NYC and everything is expensive. I'm wondering if anyone can help me figure out what the payments might be like after the rehab is done-I'm confident I can get through these payments but am afraid of it going up afterwards... [link] [comments]  |
| Posted: 07 Jan 2020 11:27 AM PST Hey y'all quick question. So next semester I am planning on transferring to a university in germany. I currently have about 9000$ in student loans. I know that in america i don't have to start paying my subsidized loans until after i graduate, or 6 months after you stop attending university. My question is if university in german counts for being able to wait until i graduate and if not if there is anyway to defer them until after i graduate in germany? TIA [link] [comments]  |
| Married, both with loans - payment under REPAYE Posted: 07 Jan 2020 08:52 AM PST I have just over $300k in unsubsidized loans, my wife has about $45k. We both work; I make about 65k and she makes about 45k (110k joint). We got married about a month ago and haven't recertified our IBR. As I understand it, REPAYE is 10% of our combined income, which is about $750. Do we each have to pay $750 on our loans ($1500 total)? If not, how is it split? I'm sorry if this has been asked before. There is surprisingly little information about this. Most of my searching shows what happens if you marry someone with an income without loans. [link] [comments]  |
| How does interest Rate accrue for upcoming student loans ? Posted: 07 Jan 2020 02:18 PM PST Im going to be starting graduate school soon and I want to plan out how to tackle this massive debt I'll have. Therefore, I want to set up a hypothetical scenario here. Say I'm taking out 60k of federal loan per year at 7% interest, and it costs 15k per trimester, totaling up to 45k, leaving me with 15k. School with divide the disbursement into 3- once per trimester. My question is, will the interest that will be accruing base on the 50k that I'm borrowing or only the amount that is disbursed each trimester (20k), which will add up as the year goes? [link] [comments]  |
| Capitalization of Interest after grace period? Posted: 07 Jan 2020 09:42 AM PST Hi, I have unsubsidized loans, and I enrolled in income driven repayment plan, and as soon as my grace period was over, I noticed that my unpaid interest capitalized. is this how it works, because i was approved for IDR before my grace period was over, so was thinking it will not capitalize. and my second question is will the interest capitalize at the end of each year or just this one time after grace period? [link] [comments]  |
| Posted: 07 Jan 2020 09:26 AM PST I have a graduate loan and am paying part of it while I'm in school as I can (I'm also working full time). Given the option to get a refund on my original loan amount or to pay accrued interest (to prevent it from capitalizing later) I don't understand which is supposed to save more money in the long run? Or even if it makes a big difference at all. [link] [comments]  |
| Posted: 07 Jan 2020 07:09 AM PST I'm looking into refinancing the last bit of my student loans. I graduated in '09 with nearly $90k in loans. I've managed to pay down to $17k. I have a variable interest rate at 4.5%. I'm trying to do some research on the best possible fixed & variable rates to get this last bit paid off quickly. Any recommendations, suggestions or advice? [link] [comments]  |
| Borrow of defense ( Student Loans ) Posted: 07 Jan 2020 11:34 AM PST I have been waiting two years now and my application has been under review with the department of education for months now . Seriously how much longer ? Has anyone gotten theirs approved yet ? My is in defense with University of Phoenix. With the new scandal with them now I'm hoping they put that into consideration, considering I went during the time of those commericals , the only difference is I have federal loans 😞 [link] [comments]  |
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