GF's Private Loan Forgiven Student Loans |
- GF's Private Loan Forgiven
- Just made my first payment on 30k.
- Forbearance and Parent Plus
- Taking an interest free student loan to buy a laptop.
- When do I apply for grad plus loans?
- Should I take a private loan? Advice needed
- Best companies/sites to borrow from?
- Please help me figure out how to take out private loans that don't put me into bankruptcy.
- Getting back to school
- Navient ignoring IDR plan, charging extra fees Jan 2019
- Borrower Defense with ITT Tech
- Payment plans that don't take spouse's income into consideration.
- Refinance options for loans under 5k
- Payment Strategy and Advice - 90 K debt
- I just took a almost 2.5x pay increase at a new job. I want these loans gone asap
- Questions about limits on federal loans
- 275k Student Loans Debt Advice
- Graduate Student Loan Advice
- Help on a missed Permanent disablement monitoring form.
- Injured myself and going to be immobile for a couple of months (My fault). I owe my college $650 and as of right now have no income coming in. Can I get a student loan?
- Can my bank account be garnished
- Will releasing my cosigner affect THEIR credit score?
- The UAS is full of crap
- Do GOvernment Student Loans have to go Straight to the University?
| Posted: 06 Jan 2020 12:00 PM PST My gf has all private loans from college with rates ranging from 10.5-12.5%. No idea why she used only private loans :(. She defaulted on one after school due to address changes and not keeping track so she has been making payments per a payment plan with Chase and then throwing any extra cash at it. This has obviously worried her as they could easily just call the loan and start garnishing, and it has prevented her from ever refinancing privately due to the effect on her credit score despite having a great job and clean payment history except for the above blemish. For some reason, she received a letter today from Chase stating her balance of around 25k has been completely forgiven. She called and confirmed and will receive a 1099 for the taxable income. On the one hand, I am psyched for her but man I wish this had happened to me a few years ago instead of paying them down as fast as possible. Either way, wanted to share the story of her luck. [link] [comments]  |
| Just made my first payment on 30k. Posted: 06 Jan 2020 03:04 PM PST I'm not even done with school yet, and had to take a semester off due to my father's failing health, and not being able to qualify for enough loans in general to cover my last semester. couldn't get back in time before the grace period ended, and now the state is coming after me because I owe them about 800 dollars from last semester. They're threatening to garnish my wages and to take whatever action is necessary to get that money. I'm kind of at a loss of where to go from here. [link] [comments]  |
| Posted: 06 Jan 2020 08:13 PM PST So at the moment, my father agreed to apply for a parent plus loan so I can attend the spring semester in a few days. The thing is that he is currently in forbearance with his personal loans and the application is prompting him to choose a repayment plan for his own loans. He is currently in forbearance with his own loans so he is not quite sure about filling out that part of the application. Is it possible for him to apply for a Parent PLUS loan while being in forbearance with his own loans? [link] [comments]  |
| Taking an interest free student loan to buy a laptop. Posted: 06 Jan 2020 10:40 PM PST Yes i know this has probably been asked about a lot but i just wanted to be sure. My laptop is not up to standards anymore. It randomly starts blasting its fans and has become an inconvenience. I currently work and earn 500-600 a week and have used it pay of my tution fees. The rest of my expenses are paid for by my parents (living, food, car, transportation.) Im currently entering 2nd semester of University. I dont plan on using my part time job money to pay for a computer since i need it for books and stuff. I just wanted to know if its viable to use an interest free student loan to buy a computer. Im most probably gonna pay it off by working in the summer. I just turned 19 and dont think best buy and other tech places will finance an interest free laptop for me. So is doing this fine. Thanks a lot. Im in Vancouver Canada btw. [link] [comments]  |
| When do I apply for grad plus loans? Posted: 06 Jan 2020 05:33 PM PST Attending grad school in May. Need grad plus loans for housing. I go on the government website and they don't have a 2020-2021 award year listed? I already did FAFSA etc.. Help? [link] [comments]  |
| Should I take a private loan? Advice needed Posted: 06 Jan 2020 05:19 PM PST Hi everyone, I need some advice on private loans... So I made some mistakes last semester and I was placed on probation. I'm confident I can improve, but for now I'll have to pay the semester myself. I know Federal loans are the best option, but since I don't meet the requirements of financial aid because of probation, I won't qualify, or my parents for Plus loans. So.. yeah, I think I'll have to take out private loans. It would only be 6,000 and a one time thing. I'm still looking at other options so this is a not for sure thing, but I would really appreciate any advice. Thanks:) [link] [comments]  |
| Best companies/sites to borrow from? Posted: 06 Jan 2020 08:35 PM PST So I would need to borrow around 1k or so, what would be the best companies or places to borrow a loan from? [link] [comments]  |
| Please help me figure out how to take out private loans that don't put me into bankruptcy. Posted: 06 Jan 2020 07:54 PM PST Tuition is due tomorrow. We don't have it. It's about 3.5k; there is absolutely no way we can front this. I want to take a loan out in my name as a student, but I'm really scared about high interest rates and my low financial literacy is making it really difficult to pick out one that's suitable for me. I have three semesters of undergraduate left, including this upcoming one. I'm not sure if this matters, but I'm intending to go to grad school (doctorate); not sure if this affects who I should apply for a loan from. Please DM me or comment if you have any advice or suggestions, and feel free to ask me more questions as I'm not sure what is relevant here. I am extremely desperate and at my wit's end about what to do with this situation. Please help me. Thank you so much. [link] [comments]  |
| Posted: 06 Jan 2020 03:59 PM PST I'm interested in getting started with a degree. It's exciting but I've got a few bumps in the road I need to overcome and I'm looking for some opinions. When I just graduated highschool I went into college and due to a combination of poor life choices and some other situations it didn't work out. And being the child I was I stuck my head in the sand and proceeded to ignore the loans until they went into default (roughly $7200). I'm trying to get them consolidated so I can fix this. I know while they are in default I don't qualify for any federal loans, while that was disheartening it's my own fault. I don't want to delay school longer than I need to but I need to make sure I'm in a good spot. I don't want to take out all private loans-even though my credit is good and I can' t afford out of pocket with the other bills I have Has anyone dealt with anything similar? I could be way off base here. TIA [link] [comments]  |
| Navient ignoring IDR plan, charging extra fees Jan 2019 Posted: 06 Jan 2020 07:36 PM PST Hi, So I got on an income driven repayment plan in Oct 2019 (valid for a year) and I log into my account to make my payment for January and NONE of the income drive adjustments are listed and I can't find mention of it in my account. I am being charged the original amount now but htey are telling me it is an amount that includes late fees, although that is not indicated anywhere and you aren't supposed to be paying those with an IDR. Sooo, essentially Navient is not complying with the IDR. I paid the same amount I am approved to pay but one of the loans is still listed as payment due. They told me there will be no consequences, it is all fine, I asked for a letter stating that, they told me it will take 3 weeks to get it. What the hell is going on? They said this is a "new" thing they are doing for this year. Is this happening to anyone else??? [link] [comments]  |
| Borrower Defense with ITT Tech Posted: 06 Jan 2020 07:19 PM PST I'm planning to try to have my loans forgiven that I received while attending ITT Tech. They did some really sketchy shit and I'm doing research so I can throw everything I have into my application. I found an older article stating that only 33 applicants from ITT Tech had been approved for the Borrower Defense. Has anyone had any success with this that went to ITT Tech or even another school? Any advice? [link] [comments]  |
| Payment plans that don't take spouse's income into consideration. Posted: 06 Jan 2020 06:53 PM PST Basically as the title states. I got married this year, currently on a 30 yr fixed plan , switched to that from an income based plan earlier in the year. Will filing jointly effect my payment amount on the 30 year plan, if so is there any plan that won't look at his income? I know we could do married filing seperately but I also just am curious how it will work, we'd rather file jointly. [link] [comments]  |
| Refinance options for loans under 5k Posted: 06 Jan 2020 02:48 PM PST I was wondering if there was any loan options to refinance loans that total about 3700. I have private loans through sallie mae and they are gutting me with 10.75 and 9.37 interest rates. I also have federal loans as well but the interest rates on those are what I want gone! [link] [comments]  |
| Payment Strategy and Advice - 90 K debt Posted: 06 Jan 2020 08:47 AM PST Hello y'all, I've been reading the posts and every information here is useful, especially reading the experiences. Ive a question regarding payment strategy: I have 90K student debt (all federal - 3 direct student plus loans and 2 unsub staff loans) services by FedloanServicing. I graduated in may of 19' and started my payments jn November. Currently making 65K per year so getting paid roughly 1800 every 2 week. I went ahead snd chose Graduated Repayment option and decided not to go for IBR etc. my minium payment comes at 650 per month but ive been paying 1 K every month so that I can decrease my principal. Its insane paying so much interest but ive no choice. My question is: is my strategy ok in terms of paying off extra since i want to pay off quickly. I do end up saving something after paying my rent, but should i increase my payment to 1500? With graduated payment, my minimum will increase I believe in next 2-4 years Should i do something better? [link] [comments]  |
| I just took a almost 2.5x pay increase at a new job. I want these loans gone asap Posted: 06 Jan 2020 06:14 PM PST So a quick tl;dr: Dropped out of a B.S in CS spent 2.5 years in a private school. I have 4.3% on 15k and $22,194.50 at 7% & $19,964.93 at 6.3% on parent plus im fully responsible for. I should be making about $5000 a month with about 2000ish for living at the moment. I don't have any savings or any emergency funds. I want to get a new car asap, but I feel like I will be much more well off taking care of these loans first. Sadly I don't think that's really feasible unless I wait 2-5 years. Do I just pay the max amount I can afford with each servicer a month or try and consolidate them ? [link] [comments]  |
| Questions about limits on federal loans Posted: 06 Jan 2020 06:10 PM PST I've got a friend in a Physical Therapy doctorate program and he claims to get 15k a semester for living expenses after tuition which is probably around 10k a semester. Looking at the lifetime limit for graduate/professional students being 138k, the math isn't adding up. Can someone explain how he's getting this much money from the government? I asked and he didn't give me a very clear answer. I'm concerned because I would like to quit work and finish my bachelors degree, but according to the fafsa website, my limit is 12500 a year which is not nearly enough to live on, even if I paid for tuition out of pocket. [link] [comments]  |
| 275k Student Loans Debt Advice Posted: 06 Jan 2020 10:29 AM PST Hi all, I've been crunching numbers and the different scenarios for awhile, but haven't come to a solid conclusion. I thought I'd describe our unique situation here to see if anyone else is or has experienced the same thing. My wife and I own our own business. We are both in the healthcare field. I have no student loans as we paid mine off. My wife currently has a combined $275k in loans. Current avg interest rate is 6.2% and is accruing every day. She is currently on the PAYE IDR program with about 16 years left before supposed forgiveness. Due to certain circumstances, she makes very little and most of the income is in my name. Her payment is set to $0/mo currently and she is not paying into her loan. If this occurred for the duration of PAYE, the loan would balloon close to 600k. Assuming a tax bomb of 40%, that still makes waiting for forgiveness cheaper than it would be if we had the money to pay it all off right now. If we refinance, it looks like the best fixed rate would be about 3.5%. This would make the total payoff a little over 300k if we aggressively paid it every month for the next 5 or so years. Although, the difference in waiting could amount to 100k savings. A part of me just wants to suck it up, refinance it, and treat it as a mortgage payments. And in 5 or so years, just be completely debt free with that loan instead of wishing and hoping for the next 16 years. We are 33 and 32 respectively. Our income can fluctuate month to month, which is why it's sort of scary to refinance and not have the government program as a safety net. We're also in California, a community property state. We have to file taxes married, but separate to take advantage of the PAYE program, but still must split our income evenly on federal tax returns, which means we are paying more in taxes every year we file separate. Has anyone gone through this or currently dealing with this? Would love to hear your thoughts. Thanks. [link] [comments]  |
| Posted: 06 Jan 2020 05:57 PM PST I will graduate in May with about 79k in loans and ~6k in interest that will capitalize in 6 months. The loan servicer shows that I will pay about 100k in loans over the 10 year standard plan. I was wondering a few things that I was hoping r/StudentLoans could help lean in on. For reference; the loans I have are all federal unsubsidized and between 5.3 to 6.3 % interest. 1)Is it worth paying off the interest before it capitalizes? I have been told mixed things about whether or not this pays off in the long run and can't figure out how to rationalize it. 2)Is it worth refinancing the loans to get a lower rate through a private institution and give up the federal protection? 3) Is there a better way to not have to pay 14k in interest on top of the principal? AKA how can I avoid the additional interest without bankrupting myself in the mean time. Thank you! [link] [comments]  |
| Help on a missed Permanent disablement monitoring form. Posted: 06 Jan 2020 05:11 PM PST So my dad is permanently disabled and my sister and grandmother helps takes care of him and his finances as I live 12 hours away for my job. Years ago he took out loans for me and became disabled. Me and him filled out the paperwork for loan forgiveness, it was accepted and he received the letter stating no farther action is needed with the exception of possible post monitoring paper work. I helped him fill the first two years of these out until I moved for a job and my sister took over the finances and such. Jump forward to today when I come up to visit for vacation and I find out my sister and grandmother had been stacking these papers in a pile and never mentioned they were here, even after I had repeatedly asked if any important loan papers had ever arrived. The loans have now been reinstated as the post monitoring paper was due on 9/30/19 and was never signed by my dad and sent to education department. I've talked to the loan department to try and get this figured out but I was just told to have him fill out the missed paperwork and fax it which I've already done. I've also filled out paperwork so I can do student loan stuff in his behalf for the future. Does anyone know of the possible outcome of this, will they forgive these loans again in some sort of appeal or is my dad screwed with these over a missed paper. They've recently sent a statement saying payments are to be made next month to both my dad and grandmother (co signer). Paying these by my dad (the original plan when they were taken out) is impossible do to him being disabled now. I don't really have the money to cover it either as I've thought they were finally gone. [link] [comments]  |
| Posted: 06 Jan 2020 04:16 PM PST My fafsa says I have about 5k to use but I have to pay my college back before I can use it for classes. Any help would be appreciated. [link] [comments]  |
| Can my bank account be garnished Posted: 06 Jan 2020 12:26 PM PST I am almost out of the grace period and I applied for pay as you earn because at the moment I am at a low paying job. However this will change in the next year or two. At this moment I have a savings account with a substantial amount in it that I have been saving for emergencies until I get a more secure job. I plan on paying the minimum amount due on my loans until I get a better job. With all that being said, can my bank account be garnished? Also, will they expect me to pay more since I have a substantial amount of money in savings? [link] [comments]  |
| Will releasing my cosigner affect THEIR credit score? Posted: 06 Jan 2020 10:43 AM PST Hi guys! So I'm looking to release my mother as my cosigner from my student loans. I've made perfect payments since graduation (4 years). But I've noticed my debt interfere with her applying for credit (even with 800+ credit score) because of debt to income ratio. Now, I know when I pay off my loans it will affect MY score because it's my oldest standing credit. However, will releasing my mom as co-signer affect her score, negatively or positively? I don't want to make any moves until I'm sure she won't get screwed. [link] [comments]  |
| Posted: 06 Jan 2020 10:16 AM PST I've been trying to get in contact with someone for ages about a bill that I've been trying to pay. When I first tried to pay the bill back in December, I tried to do it by the phone. "Our automated system is currently going through upgrades, if you'd like to pay a bill then please visit us at our website." Okay, no big deal. I go to the website, sign into my account, pay the bill and go on about my business. A few days later, I check my bank account and realize that no money has been debited. So, when I go back to the UAS website, not only do I see that the payment has failed, but that interest has accrued because of it. I can't get in touch with anyone helpful (everyone assures me that nothing is wrong with the site) and nobody responds to my damn emails. Wtf is going on? I'm not paying interest because of their crappy service. [link] [comments]  |
| Do GOvernment Student Loans have to go Straight to the University? Posted: 06 Jan 2020 01:59 PM PST When I take out a loan with the federal government (Direct Stafford Loan), does it have to go straight to the university? or can it go into my checking account to help pay for living expenses? [link] [comments]  |
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