How long do you plan on paying your student loans for? Student Loans |
- How long do you plan on paying your student loans for?
- I just paid off $2,500 of my $30k debt using the avalanche method, now what?
- Got a call today saying my student loan is in default...from 2002?
- Interest rates
- Advice for student loans, best strategy?
- Living abroad and trying to handle all my student loan debt!!
- Any harm in switching to the extended graduated plan?
- Can I choose a loan servicer if I want to begin making payments on federal loans while in school?
- Navient says I have past due bill?
- How to pay off student loans while still maintaining a decent quality of life?
- Taking loans to do a Masters abroad. How worth is it.
- Direct Loan Default $70k from 1996
- Refinancing Student Loans - Private
- New to doing finances (Private Loan Questions)
- Nelnet
- Federal versus State requirements
- Can I appeal 150% credit hour limit with SAP?
- Student loans bank transfer
| How long do you plan on paying your student loans for? Posted: 27 Jan 2020 11:00 AM PST I started off owing $40,000k. I originally planned on knocking it out in 15 months. Seeing a large bulk of my paycheck every months going into my loans is hard and overly ambitious. It's currently down to $34,000k since September. And I'll probably try to pay it paid off after two years. (Maybe even chill more and take longer). It's just really hard throwing all my tax returns and $1,500-$2,000 a month into those things when it'd be nice to see my savings go up. [link] [comments]  |
| I just paid off $2,500 of my $30k debt using the avalanche method, now what? Posted: 27 Jan 2020 04:45 PM PST I've read around that I claim my student loans if i make under $80k (Yes) - what should I do next? Tax return season is coming up and I want to make sure I am following the right steps for everything. New grad new job and saved enough to pay of 2.5k - any advise would be appreciated!!! Does this still apply? https://www.irs.gov/publications/p970#d0e6339 [link] [comments]  |
| Got a call today saying my student loan is in default...from 2002? Posted: 27 Jan 2020 01:34 PM PST So I have no idea what this person is talking about. They did know my name, my husbands name, my address, my phone number, and when I was last enrolled in college. However, if I have a loan, that would be news to me. I didn't fork over any of my information or anything and said I needed to look into things like calling the university for records, etc. He claims he's been calling and sending me mail to no avail prior to today. But like...17 years? Is this a scam? I checked my credit report and it said 0 defaults and 0 derogatory remarks. [link] [comments]  |
| Posted: 27 Jan 2020 06:12 PM PST I have a total of 6 loans, all from NELNET. Interest ranges from 4-5.5% with my monthly total payment to be 147.xx a month. Is the interest rates for all loans added together and then averaged? Looking for ways to pay it down as quickly as possible. [link] [comments]  |
| Advice for student loans, best strategy? Posted: 27 Jan 2020 09:49 PM PST I will need to start paying my grad school loans in March, and I'm new into this whole student loan thing so I was looking for some recommendations... I currently have 5 loans, total of around $38k. I have them on Nelnet. a. $8,700 - 7.6% b. $10,000 - 6.6% c. $2,300 - 7.6% d. $10,000 - 6.6% e. $6,900 - 6.6% I'm wondering what's my best option? I saw there's some private lenders where I could consolidate these loans with a lower interest, around 5.2% . But I don't know if that would be the best idea, I hear you lose some benefits when you go on the private route? As for the plans, is it better to choose the one with the lowest monthly and pay extra whenever I can to apply it to the principal? REPAYE seems to be the most affordable monthly payment. I calculated the payments with the online calculator and it says it should be around $200 a month. I'm afraid to commit to a high monthly payment and find myself in a position that I couldn't afford to make a payment.. So I'm wondering what's the ideal way to tackle this debt? Any insights or recommendations would be appreciated. Thanks!! [link] [comments]  |
| Living abroad and trying to handle all my student loan debt!! Posted: 27 Jan 2020 12:22 PM PST Hows it going everyone! So i need some help....I finally landed a good, well paying job while living outside the US and I'm trying to get all my student loan debt in order. Recently my gov loans has gone into default after they were in deferment for the longest time, and my private loans with the demon Sallie Mae are about to cause some pain too if I don't act soon. Can anyone give me some advice on what steps to take? I know if I refinance my gov loans I can apply for income based repayments (which will be $0 since I haven't earned in the US for a few years) but like what do I need to do when doing my taxes to make sure my information and stuff is safe so I'm not harassed by debt collectors? Any advice? I was just going to do Turbo Tax, but is that a good idea? And should I file a 2555 to claim foreign earned income exclusion? And any advice on how to handle the private loans while abroad? Anything like income based repayments like for gov loans? Could I send them the information from my gov loans and how I was basically broke, until now and am making payments based on my income? Thanks guys [link] [comments]  |
| Any harm in switching to the extended graduated plan? Posted: 27 Jan 2020 03:54 PM PST If I plan on paying off my loans early, is there any harm in switching from the standard 10 year plan to the extended (25 year) graduated plan? The idea would be to put the money I save from the lower monthly payments towards the higher interest loans. I also may want to wait a year to see who gets elected. I don't want to pay 35k this year just to find out that it would have been forgiven next year. [link] [comments]  |
| Can I choose a loan servicer if I want to begin making payments on federal loans while in school? Posted: 27 Jan 2020 07:24 PM PST Basically what the title says. Right now my federal sub/unsub loans are fairly small and have only accrued $124 in interest so far after a year + a month. I recently joined this sub and realized it's probably best to get a jump start on a) paying off the unsub interest so it doesn't capitalize and b) begin paying off the unsub loan principal. I combed through some past posts and saw that sometimes it's better to not pay off the sub loans and just take advantage of the government paying the interest, would someone be able to explain that calculus and when it's better to do that vs. pay off the loans immediately. All that to get to the overall question: how do I start making these payments while in school? I called the FSA number and it directed me to NSLDS, but the only thing related to what I'm asking is a link that tells me I can authorize a loan servicer to view my loan information. Is that the same thing as choosing that servicer to make my repayments through, and if not, how do I determine that? I was under the impression you get assigned a servicer with federal loans so that's what caused me to make this post so I don't accidentally mess this up. Thanks! [link] [comments]  |
| Navient says I have past due bill? Posted: 27 Jan 2020 09:28 AM PST Hey y'all, I did my first payment on navient and what I did is instead of having my first $362 payment split evenly through my 10 loans, I made my whole first payment go towards my highest interest loan. Now when I logged in to do my second payment, I'm getting a notification on the app that it's past due $329 dollars, totaling to $690. Can someone -explain why it might say that I owe almost double -let me know if I can keep paying my normal $362 to my top interest loan without legal repercussions of not paying the $690? Typed through the app by the way -can I[link] [comments]  |
| How to pay off student loans while still maintaining a decent quality of life? Posted: 27 Jan 2020 04:47 PM PST I feel like most of the posts on here are about paying off your student loans as fast as possible. I definitely support that and think it is a good especially if you have the means to do it, however, I feel like people will live with such a low quality of life for those years they pay it off- at least I would. While I'm at home living rent free, I plan on paying it off aggressively, about $1400 a month. I'm also trying to pay off this much a month because I just graduated in December and started working in January so I'm in my grace period and most of my loans aren't collecting interest. Want to make payments going straight to the principle so that when interest does kick it, it'll be on a lower overall balance. But, I have no rent or bills (other than the loans) so it makes sense to do that for my situation. However, I am considering moving to the city in a few months where that $1400 is now my rent. Even though I am at home, I am still stressing about making that payment (mentally) and feel like it is already decreasing my quality of life. I also love to travel, and it is something that is extremely extremely important to my overall quality of life and happiness. I work 40-45 hours a week and commute for 3 hours a day, waking up at 4:30 am and not getting home till 5:30. I absolutely need to be able to go away if I am going to be able to not get burnt out at my job and have something to look forward to. Basically, I am looking for advice from people who pay off student loans while maintaining a happy quality of life that allows them a small vacation or two a year (not like a European trip or anything, but a 4-5 day cruise around 800 per person). My salary and loans break down goes like this: Salary: $60,000 Potential Rent: $1,400 Loans:
Savings: $0.00 as of right now. However, my job reimburses me for travel fees at 0.575 cents per mile. Considering I drive 80 miles a day to and from the site I have to be on (which should only be like an hour and a half there and back but with the city traffic turns into like 2 hours back and 45-1 hr on the way in), the ~ $920 dollars I get added to my paycheck each month I plan on putting in a savings account with a 1.7% APR so that will get built up. It definitely doesn't cost me $920 a month to put gas in my car and it has no major damages right now (knock on wood!) Retirement: I want to start saving once I am allowed to. Have to wait 3 months since hire date and I haven't even been there a month yet. I would estimate around $350 per month with a 50% match up to 6% of my eligible compensation contributed. After taxes, I make about $3,558 per month. Assuming a rent of $1,400, I'm left with $2,158 per month. Would any one be able to recommend any rough numbers to pay towards loans, food/fun, vacation savings, and any other adult payments I may not be aware of? Parents pay for car insurance (2004 camry) and phone. I know I threw a lot at you. I appreciate anyone who took the time to read it and give me advice. Please don't drag me. [link] [comments]  |
| Taking loans to do a Masters abroad. How worth is it. Posted: 27 Jan 2020 12:48 PM PST Hey Folks, I'm Praveen from India. I am 23 and I completed my Engineering but I chose the field of Marketing as I liked it better than Software side. I work in a good reputed organization which has a global reach but irrespective of the fact that it's a very big company, I don't have much of a growth here, maybe a good raise in salary for 2 years and then it's less. Most of my friends chose to do Masters, they did their research and chose a field and took a huge loan and started their course abroad. Even I want to grow, eventually earn good money and have a good job where I have more responsibility rather than just doing meaningless work. But does it really pay off? Do we really get good opportunities after our studies? If so, what courses (marketing /management side) are better ? Which country provides good education with opportunities ? [link] [comments]  |
| Direct Loan Default $70k from 1996 Posted: 27 Jan 2020 02:38 PM PST Over 20 years ago, the Gov't said I did not qualify for anymore forbearance, a consolidation or payment plan. Since then, I have been in Student Loan HELL. Questions: I am the debtor, husband did not cosign. I am unemployed 7 years, have no income, no assets in my name (except house), no debts and applied for SSDI. IL US Attny wants financial filled out. They want husband's income/debt info and credit report pulled. Husband refuses and will not sign off. Can they enforce this? They placed a lien on our home that is mtg free. Will this lien be removed when I die or will they force my husband to sell? Will they take my SSDI, even though I am disabled and unable to work? Thank you for your time! [link] [comments]  |
| Refinancing Student Loans - Private Posted: 27 Jan 2020 05:35 AM PST Based on reading some other posts, seems like I already F-d up by partially refinancing my higher interest rates loans to a lower rate. Sofi gave me a much lower rate but of course a higher payment, after 2 years, I am looking to refinance again. Anyone know of a company that wont try and stick it up your butt? Every rate Im looking at, even on shorter term is 2% higher than what I am paying right now? Obviously I am not going to increase my rate. Credible is trash FYI. Wish I read this reddit before refinancing and kept it all gov loans so I could have used the gov plan...SMH. [link] [comments]  |
| New to doing finances (Private Loan Questions) Posted: 27 Jan 2020 12:41 PM PST Hello, I have 2 private loans through Salle Mae and do not know wtf is going on. I am very confused about how to consolidate the two loans and I do not know how to get on a Income-based payment plan to pay off these loans. I have been struggling to find work in the city that I live in since May. Some key things: I am past due on my first payment (Jan.) and I did call to get my payments on hold while I try to consolidate everything (I have until March now). What I did: So I went into Sallie Mae without logging in and looked on how to consolidate my loans. I followed the link to do so. I clicked it and it took me to the Federal Student Aid (GOV) website. I looked at how to consolidate there and followed the steps. I made it so that Nelnet is the one who consolidated my loan? I created my account on Nelnet and I have not seen my Sallie Mae loans consolidation anywhere. What did I do wrong? I got frustrated and called a friend who works at Student Service Center (Santa Monica) and payed their company to help consolidate my loans; I later find out that they could only do that with my federal loans. So I have my federal loans taken care of, I just need help on my private loans. I do not want these loans to affect my credit score or my parents. Thank you for your help. I really need it. I am also to being pm'ed. [link] [comments]  |
| Posted: 27 Jan 2020 05:00 AM PST When exactly does nelnet report to the credit bureau. I paid down a loan and it's still showing a balance from November. [link] [comments]  |
| Federal versus State requirements Posted: 27 Jan 2020 07:46 AM PST Good Morning All, So my wife finished grad school as a speech and language pathologist about 6 years ago. Since she graduated she made sure to work in a title 1 district in our state of Connecticut. Initially she worked in Hartford Schools, then transitioned to Deep River (region 4). Well last year she submitted everything for the $17.5k student loan forgiveness and it was denied. It was denied due to the fact that CT doesn't view title 1 schools the same way the Fed does. The Fed looks at it as the school is either title 1 or not where as the state looks at it through the scope of "free or reduced lunches". In order to qualify with the state they need 30% of students need to have free or reduced lunches. Well 1 of the years in deep river they fell to 28% and that was the cause for her denial. However, when we look up the school on the federal website it still shows it as a title 1 school that's eligible. Has anyone else ran into this before? I'm under the understanding that the Fed Provides the reimbursement, why would the state be different than the fed requirements and why does the state requirements supersede the Fed? Has anyone figured out a way around this? Is there any sort of organizations that help with this process (with the VA there are orgs like the DAV and stuff to help with disability claims and representation)? Anyways, thanks for the help! We are hoping to try again or be more of a "squeaky wheel" while she has April break. Thanks. [link] [comments]  |
| Can I appeal 150% credit hour limit with SAP? Posted: 27 Jan 2020 08:32 AM PST I have a finished physics degree, but I haven't applied to graduate yet, because in my last year, I decided I would rather do engineering, and in my state, you need an engineering degree to take the qualifying exams, so I started working towards an engineering degree in my last semester. I should be able to complete the engineering degree in 2 years, and I have some grants that I'll be able to receive if I meet SAP, however, because I already have a complete degree I'm at the 150% max credit hours. Is there any way I can appeal this and be able to finish my dream of the engineering degree? Also, does anyone know if, in order for the SAP to be approved, the major has to be officially declared? Or can I state in my appeal letter that I am working towards that specific degree? There's a subtility that I need to complete one engineering class from the engineering school to be able to become an official major. Completing the class is going to be no issue, and I'm enrolled in it this semester, but will that cause my SAP to fail because it's not my 'official' major? [link] [comments]  |
| Posted: 27 Jan 2020 07:02 AM PST My wife graduated almost a year ago and as of four months ago, started repaying the loan on time. We're currently aboard for work and are dealing with Wells Fargo and their interest rate. We tried to get a lower interest rate, but need a cosigner. She asked her father to be the cosigner, but doesn't want to be in that commitment if something were to happen to us. He recommended that we have another bank take the loan from Wells Fargo. The issue here is we don't have any clue such back will be; a) willing to do this with a lower interest rate than 10.5% and b) be ok with the fact that we're abroad for work to even open something without being there in person. Any advise will do. Tyia. [link] [comments]  |
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