For all of you borrower defense supporters..Congress is taking action next week Student Loans |
- For all of you borrower defense supporters..Congress is taking action next week
- Cfpb files shit against several debt relief companies.
- Does it matter which loan I apply my tax refund to?
- Will I be able to get enough in loans to pay for college?
- Creating a Subreddit Sidebar
- Apply as refund option with subsidized and unsubsidized loans
- Teacher Loan Forgiveness...does it work?
- Student need advice for continuing his studies in future (Canada)
- How I went from no experience to 6 figures in a different field nearly paying off my student loans in 5 years
- Parent plus loan upon death
- 3.89% interest rate from (RISLA)
- Is this website reasonably accurate for calculating student loans?
- I need a loan for personal expenses while at college, what are my options?
- Help please
- Federal Pell Grant
- Refinancing Loans
- Better to submit pay stub or use tax return for PAYE?
- Anyone ever mailed a check to FedLoan Servicing?
- What does consolidating my loan do?
- Going to Grad School - Should I Defer Undergrad Loans and Do Snowball Method?
- School stopped offering degree mid-program and during a personal medical leave. Now saddled with 30k debt. Any hope?
- Hypothetical: new administration passes student loan forgiveness. What if I re-fi’d?
- How to get a loan at 18, no cosigner
| For all of you borrower defense supporters..Congress is taking action next week Posted: 09 Jan 2020 01:20 PM PST Whether or not you were affected by a fraudulent school this legislation should be of interest. https://ticas.org/action-center/ [link] [comments]  |
| Cfpb files shit against several debt relief companies. Posted: 09 Jan 2020 03:59 PM PST Hooray! Remember folks...don't pay for student loan advice. https://www.consumerfinance.gov/about-us/newsroom/cfpb-announces-action-against-monster-loans-lend-tech-loans-and-student-loan-debt-relief-companies/ [link] [comments]  |
| Does it matter which loan I apply my tax refund to? Posted: 10 Jan 2020 02:51 AM PST I have two loans, one refinanced and one federal. I've been making aggressive payments towards my private loans over my federal ($1,500 vs $200 a month, respectively). I'm expected to receive $4,000 tax refund. Refinanced Loan: $23,500 at 4.06% Federal loan: $12,500 at 4.35% Should I split the amount or put a full amount in one pile? Does it even matter? [link] [comments]  |
| Will I be able to get enough in loans to pay for college? Posted: 09 Jan 2020 07:46 PM PST I'm going to my local CC for the first two years of my bachelors (free tuition). I plan to transfer to a state school that will cost about $25k a year for my junior and senior year. I will have about 7-8k to pay out of pocket each year and hope to get close to 5k in scholarships. My parents aren't going to be able to assist me financially and they both have terrible credit scores. Will I be able to get enough in loans to pay for college? [link] [comments]  |
| Posted: 09 Jan 2020 02:41 PM PST Would it be possible to create a sidebar that consolidates a lot of the information in the most popular posts on here to make it easier for newbies like myself to get a basic understanding of student loans? I know that one of the biggest contributors to soaring debt among students is that they just don't comprehend the sums of money they're borrowing and fail to understand how that's going to impact their life years down the road. Although I'm pretty new to everything I'm soaking up as much as I can and thought that maybe we could consolidate some of this important information instead of having to answer questions about federal vs. private or whether or not to refinance (although sometimes situations are unique). I'd be willing to work on it and figure it out as I go but I'm not sure if there's a process I'd have to go through with the mods here to verify that everything on there is accurate. Let me know if you think this is a practical idea and/or if you'd be willing to help with your own experiences! [link] [comments]  |
| Apply as refund option with subsidized and unsubsidized loans Posted: 09 Jan 2020 10:16 PM PST I just graduated and have both unsubsidized and subsidized loans. If I choose apply as refund, what will that go towards? Is there any way I can make it go towards my unsubsidized loans rather than subsidized? [link] [comments]  |
| Teacher Loan Forgiveness...does it work? Posted: 09 Jan 2020 02:22 PM PST Hello! Recently married a Teacher who has some student loans. She's been doing a great job on them, and now we're attacking them together. I hate interest and want them gone ASAP! From everything I've read, she'll qualify for Teacher Loan Forgiveness of up to $17,500 in roughly 2.5 more years. Her school has been on the TCLI directory her entire time there. I thought I'd read somewhere that a Gov't Teacher Loan program was hardly paying anything out like it was supposed to. Could be something different, I can't find the article anymore. Anyone here that's tried this program and succeeded? https://studentaid.gov/manage-loans/forgiveness-cancellation/teacher We're a few years away from being close to knocking these out still, but, there's little sense in stretching ourselves thin to bring her balance below $17,500 at the point she'd have her 5 years of service, if Uncle Sam is willing to foot the rest of the bill. Many Thanks! [link] [comments]  |
| Student need advice for continuing his studies in future (Canada) Posted: 09 Jan 2020 08:02 PM PST Hi there and thanks for taking the time to read and answer my question(s). I am currently an international student who will be in the PR process shortly. I might go back to school in the future to finish my engineering degree (undergraduate). I come from low income and poor family actually, I am trying to work really hard and save as much as possible for my future studies. Could you please help me out to choose a good province and university to proceed with my future studies ? considering the university ranking and the city which is found in ? BUT my main reason I am here is to ask about the OSAP, is it possible for a low income student to proceed his studies ? would his whole tuition fees be received as grants and loans ? and would each province be different with the programs they have to support their students ? if yes, which one would you recommend ? [link] [comments]  |
| Posted: 09 Jan 2020 06:27 AM PST So I wrote a post that has gotten a lot of traction here but I wanted to talk about the other side of this too. Here is my story. I graduated with a bachelor's in accounting at the age of 23 with about 50k worth of student loans. I couldn't a good paying job in accounting as I was already making $14/hr doing accounting for a small business part-time. I took a job that paid $18/hr but they decided they just wanted a cheaper bookkeeper and I was let go after 2 weeks. From there I did a few odd jobs because I just bought a new car and didn't want to miss a payment. I ended up working in retail sales. Side note, sales jobs and call center/customer service pays pretty decently. I made 60k+ selling phones at Verizon and my wife does tech support for a medical company making 45k+. I used Verizon's tuition assistance to get a Masters Degree in Information Systems as I love tech. I started to look for a job in tech only to find out that no experience and just a master's degree means nothing and the only jobs I could get were level 1 tech support paying $15/hr. So this is where the hustle began. I had a YouTube Channel around Tech, I began to spend a ton of time growing it and spending any extra money on learning. I took the channel to 2k subscribers with 80-100k views per month. I had documented and published a ton of data and became a small figure in the tech space. This hands-on experience in my portfolio landed me a sales engineer position for an email security company a year after I finished my masters that Verizon paid for. From there I went from being a hardware guy to a software and UI guy. I learned tons of things regarding AD, email, Office 365, etc. Now after 2 years of direct experience, I landed a role as a customer success engineer with an OTE of about 110k/year. Again my YouTube channel had a big factor. It presented who I was and what I did (many how-to videos) was very relevant for this job as well. It showed I can carefully and concisely explain things and it showcased my tech knowledge. My student loans are down to 5k @ 3.2% interest (paid off the private loans very fast). Wife and I bought a 200k townhome, almost done paying off a 2018 and 2019 car (VW Golf & Hyundai Kona) with 6-year warranties and our combined income is around 160k. Here's the reality of the situation. Our education and hiring process sucks. But we can't wait here with mountains of debt hoping for things to go away. If you select a shitty field or a not in-demand field, you have to work even harder. Freelance more, separate yourself, etc. If your industry doesn't pay well, you may have to hustle and run a side business (I still do run a tech business on the side). Here is an example. While in college say you're going for accounting. Offer to help/do the books of a local small business/startup. Even if you do it for a year for free a few hours a week. You can get experience but you HAVE to hustle in this world. It's not fair, it sucks don't get me wrong. You may have to move away to work in your field but you made your choices, you gotta see it through. I did an econ project for my accounting undergrad showcasing how badly income vs expenses have scaled over the past 40 years. But I am working 60-70 hour weeks right now to set myself up for success. I only work on business/youtube on the weekends and take Sundays off and Monday afternoons off too. Gotta balance life a little bit. But trust me, you all can do it, just hustle and work hard [link] [comments]  |
| Posted: 09 Jan 2020 03:56 PM PST Hello, my mom has a federal parent plus loan. She has very little income and is barely getting by. She is 70 years old. Can she defer payment in perpetuity? In other words can she defer until she passes away? [link] [comments]  |
| 3.89% interest rate from (RISLA) Posted: 09 Jan 2020 02:21 PM PST Hi all! I've been a lurker here for sometime and all the advice I've gotten has really helped me. In an attempt to pay it forward I'd like to turn everyone's attention to the Rhode Island Student Loan authority. (RISLA) they claim their highest student loan rate is 8.14%! [link] [comments]  |
| Is this website reasonably accurate for calculating student loans? Posted: 09 Jan 2020 04:54 PM PST I came across this website (link below) that does some calculations based on undergrad degree, principal payment, interest, and term. I inputted my Computer Science degree, a $10,000 principal, and a 6% rate and it said that I would only have to pay around 2-4% of my income per year. Are the results this website gives accurate at all? [Link] https://www.hamiltonproject.org/charts/interactive_embed/undergraduate_student_loan_calculator [link] [comments]  |
| I need a loan for personal expenses while at college, what are my options? Posted: 09 Jan 2020 04:48 PM PST Hi, I'm a student at a pretty rigorous university (this is important later) and I live out-of-state on campus. I take out the maximum federal loans possible and that just barely covers my tuition and room/board. I need money for buying food occasionally (normally on meal plan, but would like to eat out every once in a while), clothes, or just anything I might need throughout the year while I'm away at college. It's no fun being there and having no spending money. I would get a job, but like I said the university I go to is pretty rigorous and I don't think I can handle even a part-time job while also keeping up with my courses. Obviously I don't want to take out a ton, maybe $1k per semester (I have 4 semesters left), and I personally believe that $4k is inconsequential to the rest of the student debt I'll have to pay off once I've graduated. Is this a common thing to do? And what are my options? [link] [comments]  |
| Posted: 09 Jan 2020 12:29 PM PST I've been paying student loans for years, I just looked at some of the statements and I'm a little worried. So as an example, I've paid around $4000 since April of 2019, yet my total amount owed has only decreased by $800. What am I missing here? [link] [comments]  |
| Posted: 09 Jan 2020 12:11 PM PST Why does the amount change before they disburse it? Last semester I was supposed to be over by $400 on my tuition, but a week before the semester started, they moved a chunk of that money for the spring. I accepted the full amount they offered ($4,700). I registered for classes and saw how much tuition was and I looked at my award money. I should have been a few hundred dollars over, but again, they changed the amount. They took away $1000 dollars this year for no reason and now I owe money AND I still have to buy books. [link] [comments]  |
| Posted: 09 Jan 2020 09:53 AM PST Hello, I have about 215,000 in student loan debt. I am looking at third party options such as SoFi for refinancing. I am in the healthcare field and will start on the lower end of income, and may be starting my own business within a few years, so maintaining the option for income based repayment for the first few years until my income rises is important. Does refinancing with a third party allow for income based repayment? TIA. [link] [comments]  |
| Better to submit pay stub or use tax return for PAYE? Posted: 09 Jan 2020 03:35 PM PST I'm currently on PAYE for student repayment. I am currently working extra days for some overtime pay to get ahead financially and will be doing so for the next couple months. We also get bonuses every March. So I am trying to decide if it might be better to have my payment based on a single paycheck instead of AGI next year. When you submit a paystub to have your payment based off of, do they base it on your gross income or net income? [link] [comments]  |
| Anyone ever mailed a check to FedLoan Servicing? Posted: 09 Jan 2020 02:55 PM PST Sent a check and wrote a letter a long with it indicating how I'd like to see the funds applied. Has anyone ever done this before? How long did it take to show up on your account and did it go pretty smooth? [link] [comments]  |
| What does consolidating my loan do? Posted: 09 Jan 2020 02:22 PM PST I saw on the aid website an option to consolidate my student loans, what does that do? Does it take my loans out of Great Lakes? Can I still apply for the PAYE or REPAYE program? [link] [comments]  |
| Going to Grad School - Should I Defer Undergrad Loans and Do Snowball Method? Posted: 09 Jan 2020 09:33 AM PST Hi Reddit! I graduated with my BA in 2018 with ~ $60K in loan debt spread out through parent PLUS loans (that I promised I would pay back), Federal Loans, Private Loans, and a Perkins Loan through my University. I am currently 23 years old with no spouse (or even a partner) or children. Luckily, I got a pretty decent entry level job at the University I graduated from a couple of months after I graduated. Retirement plan, benefits, the works. I make about $16.20 hourly and we typically get raises at the start of each fiscal year (July). I make it alright; I don't have a lot left over and I don't get to save anything, but my bills are always paid on time and honestly, that's fine with me for now. One of those benefits is an employee education program. I really want to get my master's degree and it will be completely paid for by my employer since, well, I would be getting it from them. I have been putting it off (I have been in my role for about a year and a half now) but I really want to shoot for applying to grad school for Fall 2020. On top of my loan debt, I have maybe about $3K in credit card debt, also not great - I know. As I mentioned, my bills are always paid on time and I have no impending doom as far as like eviction or default or anything like that. One of my goals for 2020 is to pay off my credit cards (and not collect anymore CC debt unless it's an emergency and I just have to). I have a side gig every now and then of pet / house sitting so I figure I can amp that up and put that money towards the credit cards. I was wondering if when I start grad school (I will still be working full time - my income will not change at all other than any raise I get for the new fiscal year), I should request my loans be put in deferment. I realize that interest will still collect while I am in grad school. BUT I'm also making 4 different loan payments right now, all on income driven payments, that still total around $400 a month. Yikes. My thought process is, should I request my loans be put in deferment and then take all of the money I am paying now on separate accounts and start throwing it all at 1 loan and approaching it from a snowball method? It will take me 3 years to complete my graduate degree as my University will only pay for me to go part time while I am a full time employee. I hope this makes sense! I also hope that it's a decent enough idea that maybe leaving grad school I can be significantly less burdened by my undergrad debt. Thank you all for your time and consideration in the meantime! (Can you tell 90% of my job is sending emails?) [link] [comments]  |
| Posted: 09 Jan 2020 08:44 AM PST Good Morning Everyone , I have a family member in an unfortunate situation and was wondering if anyone could provide some insight. I myself have no experience with this, so I feel clueless as to how to help. My family member took out a $30,000 student loan to attend a highly specialized college program. This was for an associate degree, and she says this was from a private lender, not a federal loan. About a year into the program, she developed major health issues that required surgery and a lengthy recovery. She has documentation, two separate documents from her doctor stating that she is not to attend school at this time and wouldn't be capable of doing so. Her teacher said : "no problem, just come back when you are ready." She completed the surgery, went on short-term disability and recovered in about six months total. When she returned to school though, her main teacher/advisor told her that the school is discontinuing her program. They would no longer be offering that degree. Her teacher advised her not to re-enroll. There are only two other schools on the West Coast that offer this program, and they are both on-campus and out-of-state for her. However, she is now saddled with $30,000 in student loan debt and no degree. She has tried to contact her loan company, but they are very uninterested in helping her. Discussions have lead nowhere. She continues to make payments on time, but it feels awful and very unfair. She's not opposed to getting legal help, if that's what it takes. Does anybody have any ideas or has been through a similar situation? Thank you for any advice you may be able to give.. [link] [comments]  |
| Hypothetical: new administration passes student loan forgiveness. What if I re-fi’d? Posted: 09 Jan 2020 11:25 AM PST Hey, hoping maybe someone will have some advice here. I graduated 9 years ago with a bachelors in accounting. I was in forbearance for 3 or so years and one of my loans is unsubsidized. All in all, I've added 8.5k to my loan balance already and my loans are still getting bigger, despite having been paying on them. I'm in an income based repayment plan and my payment only goes to interest. I am HIGHLY considering refinancing, as my bank could get me around 4% vs the 6.8% I have now. If I don't refinance, I will pay 26k in interest over the life of the loans. My original loans were 29k. YIKES My concern is one of a hypothetical: say we get a Democratic President in office that plans to follow through with a student debt relief program. Would my loans count if I refinance them to a private lender? Would it be smarter to wait until after the elections to make this move just in case? I make 46k salary a year. I'm trying to get my company to help pay for my CMA certification. I am surviving but it's a tight budget. Im on Dave Ramsey's baby step program currently. The relief would be incredibly helpful, so I want to make sure I'm not making a hasty move today. It's hard to say exactly what will happen because there isn't legislation written around it yet, I know. Just wondering what Reddit's opinion is. Thanks! Update: 4% interest rate on student loans doesn't exist. My bank offered 7.5%, which is higher than what I have know. Prior information from loan company was that I couldn't pay extra towards my loans, was only allowed to make the 240 payments per my repayment plan. Re-discussed this with loan company and they said I can pay towards my principle without it canceling my repayment plan. (I realize that is the missing information from above that was driving me to move my loans in the first place; I am trying to pay them off in the next six years). So plan set and moving on. Thanks for the input. Reddit I've learned hates hypotheticals. When I analyze a decision, I consider immediate pros and cons first, then I consider if there would be any potential future risk. New things learned canceled out the potential future risk I was weighing and therefore, hypothetical situation no longer applies. Cheers! [link] [comments]  |
| How to get a loan at 18, no cosigner Posted: 09 Jan 2020 09:36 AM PST ALL HELP APPRECIATED I'm 18, no family, nowhere to go Filed an appeal with financial aid a while back because obviously can't pay tuition and wanted to see if they will lower the rate to something more manageable. Today they respond, on the date my bill is due, and say "yea we can't help you" "Pay us $20,000 or you can't attend classes this semester" What do I do?? I really don't want to have to take a semester off. I know plenty of other schools with better financial aid departments but can't transfer unless I am able to complete this semester here. I literally just need to get through this semester then I'll be okay. I just don't know how to do that. Please help. TL;DR University will millions endowed threatening to kick me out over a little less than $20k, won't even offer payment plan. [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