I officially paid off my student loans!!! Student Loans |
- I officially paid off my student loans!!!
- DeVos announces new repayment options (satire)
- In a cosigners view, what is the benefit of cosigning a student for student loans?
- 200k and I am basically lost
- How does SallieMae distribute their loans?
- Would it be stupid to consider refinancing $110,000 in Federal student loans? Currently paying 5.4% interest.
- Should I use my Americorps Ed Award for loans or grad school?
- Missed My IDR Recertification by Two Days
- $150k in undergrad loan debt. Where do I start?
- Income driven repayment form question
- ELI5 Parent Plus Loan: What does this sentence even mean?
- What have you heard of Sallie Mae, Discover, College Ave, etc.? Which Student Loan providers do you recommend or “like” to use to pay for college?
- What to do about my student loans being taken out in my dad's name
- IDR Recertification with Pay Stubs
- Can I choose to recertify income early because we will file separately for 2019?
- Paying loans while still in school?
- Currently In College - How to Prevent Debt from Escalating
- Advice on contacting student loan debt collection agency about my defaulted loan
- Refinancing
- What kind of Student Loan Forgiveness programs are there?
- Question about Navient Loans
- Can you take out student loans for cost of living?
- Stay at home mom PAYE?
| I officially paid off my student loans!!! Posted: 28 Jan 2020 07:58 AM PST I had 20k 01/01/2017. At first I was just making minimum payments then I started making double. Last year I had 16k left so I got serious about paying them. I would pay all my bills and all money left over would go to SL. I officially made my last payment of 343.90 today!!! I'm so happy that I can forget about them and start saving! It's a great feeling!!! [link] [comments]  |
| DeVos announces new repayment options (satire) Posted: 28 Jan 2020 07:35 AM PST Had to share this with one of the only groups that will understand why I found this hysterical. I'm not sure nif the paye or slap in the face section was my favorite. [link] [comments]  |
| In a cosigners view, what is the benefit of cosigning a student for student loans? Posted: 29 Jan 2020 01:41 AM PST |
| Posted: 28 Jan 2020 01:52 PM PST I got a law degree, passed the bar, had a period of severe depression, and am now functional and living a somewhat middle-class lifestyle in an area with an extremely low CoL. I do not actually make a lot of money - I know everybody thinks lawyers are wealthy, I promise you I am not. My student loan totals are around 200k. The interest rate on average is probably 7-8%. There is no way I can ever even pay the yearly interest, much less touch the principal. There is no degree of budgeting or corner-cutting that will make this feasible. I don't want to exactly state my income, but after IBR my monthly payments total up to a little over $200. This is very manageable, I pay a little more than I'm required to in case I ever have to meet some kind of good-faith-ability-to-repay test, but it feels pointless. I'm married and have a child, so living like a pauper for 10-20 years isn't feasible either. We aren't carrying significant amounts of personal debt or medical debt. Think a maximum of less than 2k in credit card debt that I pay off before the end of each month. Like I just put all my daily shit on the CC and then pay it off. I can therefore accumulate miles and not pay interest. We do owe money on the house. I have no idea what to do. I'm not in public service and probably don't have the option to move into public service. Moving from one geographic area to another is not practical for a variety of reasons. I'm sort of "awake" now after years of depression, and I feel hopeful enough that I want to try and change things, but this looks like a puzzle I can't solve. I just don't have the money. Is there any mechanism out there to reduce my interest rate, stop interest from accumulating, forgive the student loans after some period of time outside of the public service programs, etc.? This is not an emergency because the payment is manageable, but if there's any available long-term solution, I would like to start working towards it. [link] [comments]  |
| How does SallieMae distribute their loans? Posted: 28 Jan 2020 10:18 PM PST Sorry for the noobie question, my application for Sallie Mae got approved and I'm waiting for distribution in a few days. Does my school send a physical check to me? Or do I have to link my bank account to Sallie Mae? Or do I like my debit card info to my school website? [link] [comments]  |
| Posted: 28 Jan 2020 04:49 PM PST Paid down $180,000 to $110,000 over the past year, will be debt free December 2021, is refinancing at this point worth it? As in worth losing Federal loan benefits and possibly having to pay refinancing fees? I'm putting every spare cent towards my loans, about $5000 per month. My husband really wants to refinance so that we can get a lower interest rate. Undebt.it says that I'll be debt free by December 2021 but will pay an additional $6,700 in interest by the time I'm done. My loans are Federal through Great Lakes, interest rate is about 5.4%. My credit report is perfect but kind of sparse, 11 years of 100% on time payments on 1 credit card and 6 years 100% on time on another. Very low utilization month to month. I know scores are kind of meaningless but Bank of America says my Fico is 835 and CreditKarma says my TransUnion is 740. Household income is $220,000, my income is $110,000. No other debt. I told him that Federal loans have a ton of advantages over private that we'd be losing out on, but he said that the chances of me losing my job or getting hit by a bus in the next 2 years is pretty low. Is he right or am I? [link] [comments]  |
| Should I use my Americorps Ed Award for loans or grad school? Posted: 28 Jan 2020 06:50 PM PST I have a pretty intricate student loan question. I have about 6k in an Americorps education award, and I'm planning to start grad school in May, primarily funded through loans because I have no other option. My undergrad loans (mostly eligible for public service loan forgiveness, but some not) have been on $0 payments based on my income for years, though interest has been accruing. There's several grand in interest that I don't want to see capitalized when they eventually go into repayment. Should I used my education award to fund my first year of grad school? It would avoid taking out loans with a higher interest rate (6%, unsubsidized) compared to my current student loans (average of 4%, mostly subsidized). Or should I use at least part of it to pay the accrued interest so it doesn't get capitalized? And/or use it to pay the loans that are not eligible for public service loan forgiveness? [link] [comments]  |
| Missed My IDR Recertification by Two Days Posted: 28 Jan 2020 06:46 PM PST I misread the email about the IDR Recertification and ended up missing the deadline by literally two days. I put in the online app about an hour ago and mostly want to know if it will be processed by FedLoan in time to avoid a payment increase of any sort. I found a thread on here saying that putting it in within ten days of missing the deadline will mean it does get processed in time by FedLoan in particular, but I wanted to see if this was actually true. I've never missed my recertification before, so this has me fairly stressed now. [link] [comments]  |
| $150k in undergrad loan debt. Where do I start? Posted: 28 Jan 2020 12:08 PM PST To keep things short: I owe $150k for a generic pre-health bachelor's degree. I currently work full-time at a clinic making $11/hour. Currently receiving help from my parents. What are some steps that I could take to combat my loans? [link] [comments]  |
| Income driven repayment form question Posted: 28 Jan 2020 05:57 PM PST Filling out an income-driven repayment plan through usde and there's a section for dependents. It asks how many children are in my family and receive more than half of their support from me. I currently stay at home taking care of the kiddo, while my spouse works. Yes, I physically take care of her but monetarily speaking my spouse takes care of us, obviously. So would I put her as a dependent child or leave that blank? [link] [comments]  |
| ELI5 Parent Plus Loan: What does this sentence even mean? Posted: 28 Jan 2020 01:14 PM PST Do you want to defer repayment of your Direct PLUS Loan while the student on whose behalf you obtained the loan is enrolled at an eligible school on at least a half-time basis? Above is the sentence in question. I am filling this out for my Mom(if that's even okay) and I really don't know what this is saying. Any help? [link] [comments]  |
| Posted: 28 Jan 2020 04:29 PM PST I need help. I want to go back to school to get my second degree. I've already used some of my FAFSA loans from my first degree but I'm afraid I may have met my limit. I did apply for FAFSA just to make sure. I need options, I can't pay out of pocket. I don't have that luxury. [link] [comments]  |
| What to do about my student loans being taken out in my dad's name Posted: 28 Jan 2020 04:13 PM PST I currently have $125,000 in student debt. Being the first child who is going to college, my dad was new to the loan paperwork and placed all of the loans in his name thinking it would be beneficial to me in the future but not showing up on my credit. I wanted to apply for loan forgiveness but because the loans are in his name, I don't qualify for any options. He makes enough where the income-driven payment isn't much help. Does anybody have any suggestions on ways to transfer the loans to hopefully try and get them lowered to a more livable total? [link] [comments]  |
| IDR Recertification with Pay Stubs Posted: 28 Jan 2020 03:48 PM PST If the typical IDR calculation (10% * (AGI - (150% * Poverty Level))) uses AGI from your tax return, how is the IDR calculation done using paystubs? My wife recently went part-time and took a pay cut and I want to recertify early to lower my payment. Will they estimate AGI for a whole year using just one month's paystub? How do they factor in things that would normally lower your AGI significantly, like pre-tax contributions (401k, FSA)? These things can be changed from one month to the next and so I don't understand how they can get to a reliable estimate of AGI from one paystub. [link] [comments]  |
| Can I choose to recertify income early because we will file separately for 2019? Posted: 28 Jan 2020 03:20 PM PST My spouse and I are running the numbers, and it looks like a good estimate between the tax increase and new 2020 loan payments we will keep about $2600 in our pockets vs if we file jointly for 2019. The breakdown: We are both on PAYE I have about $50k in federal loans my current payment is $90 a month My husband has about $190k in federal loans, is actively on track for PSLF, and his current payment is $300 a month. Our total payment will go up, because income has gone up. But, we can take advantage of the 150% poverty level for 3 people (daughter) to calculate the 10% disposable income. Filing jointly, when we recertify in October 2020, our total payment would be about $700, but if we file separately it will be closer to $500 (rounding). But filing separately, a lot more of that payment, closer to $350 will be going to my loans, vs his loans on PSLF, because I make significantly more money than he does. My question is: can I recertify using my 2019 tax returns ASAP (earlier than October) to split the payments on our loans differently so more is being allocated to mine, which won't be forgiven? [link] [comments]  |
| Paying loans while still in school? Posted: 28 Jan 2020 10:33 AM PST I have 2 student loans through Nelnet, one is for $1750(deferred interest for another 2 years) and the other is $1000 currently accruing interest. I'm not due to start paying them back until 2022 but I'd like to get a start on them now at about $100/month. I have two questions: Should I pay towards the $1000 loan that accrues interest first, or the loan with a higher balance? Secondly, since I would paying these loans before I have to, if I need the money can I stop paying until my deferment period is over or will they start expecting money every month and cancel my deferment period? [link] [comments]  |
| Currently In College - How to Prevent Debt from Escalating Posted: 28 Jan 2020 01:56 PM PST This semester I took out $2,000 in federal loans (sub and unsub total) and had to take out $5,000 in additional private loans at 11%, as that was all that financial aid gave me this semester. I'm currently at $15,000 in federal loans, or roughly $20,000 in debt total. I estimate I'll need at least $20,000 more in loans to finish my Bachelors, and depending on what school I get into, my MS is probably going to double that. Considering I'm either running out of federal allowance, or have run out, so what exactly are my options here? My car loan is only 6%, paying nearly double for private loans is absolutely ludicrous. I do work and that covers $5,000 per year so I'm hoping go rid of my private loan ASAP, but come Fall I'll likely need to pick up another one that won't be getting reimbursed. I figure I may be able to swing up to $300/mo to start paying down my debt now. I want to graduate with zero private debt and try for a federal job that pays down some of the federal loans, if that's even possible. [link] [comments]  |
| Advice on contacting student loan debt collection agency about my defaulted loan Posted: 28 Jan 2020 01:06 PM PST Hey y'all I have some questions about my defaulted federal student loan. In 2011 I took out a direct Stafford Subsidized loan in the amount of $3,500. I have not made a single payment since I took out the loan and obviously the loan is in default now. I have decided to stop ignoring the phone calls,grow up, become my financially literate and begin the process of paying back my loan. As of 2016, according to my loan information on student aid. gov, my original loan has increased to $4,149. (Not entirely sure what my current up to date balance is, since this information is from 2016.). I want to begin the rehabilitation process for my loan and get this debt off my back. I have done a lot of reading over the last few days, trying to figure out where to start. I have learned that my current loan provider/servicer is Debt Management + Collections System Default Resolution Group. Is it safe to speak to these people? I'm really nervous to talk to a student loan debt collection agency, in fear I might say the wrong thing or be pressured into making payments I really just can't afford. I really want to clear my student loan debts, but I'm just unsure if contacting Debt Management + Collections System Default Resolution Group is the correct route to take. Thank you guys so much in advance. I'm really trying to get my life on track finally speaking and this sub has really helped me a lot over the last few days. Thanks a lot! [link] [comments]  |
| Posted: 28 Jan 2020 09:08 AM PST New here, and I had posted this on /personalfinance - but figured it's better to ask here since it's dealing with studentloans specifically. I have these two loans: ALPLN / $12k / 7.2% / payoff date 8/1/30 ALPLN / $14k / 8.71% / 8/1/30 Today, I have a good job/salary & I can manage the payments as is (together are $315/mo) - but I have built a good credit score 700+, so I'm wondering if refi is a wise choice? Obviously, it depends on the quotes, but would anyone have any advice? I've been reading this group, and I feel like I hear equal pros and cons about refinancing. Regardless, I'm going to do whatever I can to live within means and throw whatever extras funds I have towards this. Thanks in advance. [link] [comments]  |
| What kind of Student Loan Forgiveness programs are there? Posted: 28 Jan 2020 11:17 AM PST I enrolled at Browne Mackie (Indiana, USA) for a few months. It was a joke of a school. General diploma mill. Kinda jumped in without doing any real research into the school. Stopped going after two months. I've got 15k in student loans in default. How can I make these go away the fastest and cheapest? I really want to get enrolled in classes again, but my hands are tied. Any help would be greatly appreciated. [link] [comments]  |
| Posted: 28 Jan 2020 06:53 AM PST Sorry if this is not the right place to post but was looking for some information. It seems like some of my Navient loans have gone to debt-collectors so I wanted to contact Navient today to pay them directly instead, but I keep getting an error at Navient.com Is there another way to contact Navient? [link] [comments]  |
| Can you take out student loans for cost of living? Posted: 28 Jan 2020 08:45 AM PST Hi reddit, This fall, I plan on attending graduate school and have come to terms with the fact that I will need to take out student loans for some of my tuition, and I'm thinking I'll have to as well for rent. What sorts of loans, if any, allow for cost-of-living/rent? I hope to work part or full-time whilst in grad school, and those funds will go to groceries etc. and will probably not be enough for rent. [link] [comments]  |
| Posted: 28 Jan 2020 08:37 AM PST Please excuse my ignorance if this is posted in the wrong place, I feel like it belongs in multiple subs but will start here.. A little backstory: Recently my wife and I had a child, and decided it was best for everyone if my wife stayed at home and raised her. Unfortunately, my wife has about 80k in federal student loan debt. We would like to put her loans into a Pay As You Earn (PAYE) program to buy us more freedom to attack debt. When looking into this, I was told we would have to file our taxes separately or else my Income would not allow us to be in the PAYE program. Switching to filing separately would make us lose about 8k this year in a refund (which we planned to use to put toward the loans.) My question(s): 1.) I live in a non-community property state, so if I am technically not on the hook for her loans since she had them before we were married, how can they use my income for the repayment plan. Filing jointly automatically means that the "household income" will be used to pay the debt? 2.) What would you think is the best option? Losing the 8k refund but not paying the monthly payment of roughly 500? [link] [comments]  |
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