MyFedLoan PSA that I find ridiculous - after your loans are paid in full, your account is closed and you can't access any of the payment history Student Loans |
- MyFedLoan PSA that I find ridiculous - after your loans are paid in full, your account is closed and you can't access any of the payment history
- I have enough saved to pay off my loans in full. Is it worth paying them off all at once and taking the big hit? Or staying on my current plan and paying off over a longer period of time?
- How do I help my partner start paying his student loans?
- National recoveries will not answer the phone when I call. Is there anyone else experiencing this same issue?
- Made a plan to pay off everything by Christmas 2023!
- Making additional payments to one a specific Sallie Mae loan
- Can I get student loans?
- Looking to Transfer Colleges- Worth the Debt?
- PSLF-has anyone actually had success?
- University miscalculated the amount of grants I would receive, lowered my private loans, then removed grants after realizing the error.
- Calculation student loan payment
- Who owns my loans?
- Need your help boys
- Do I pay off my debt or not yet?
- Withdrawing before federal loan disbursement date
- Individual loan payoff question
- Old Edvest account? What do we do with it?
- Teacher Loan Forgiveness Botch Job
- Offered Direct Unsubsidized Loans through University - I accepted but can't figure out what to do next
| Posted: 03 Jan 2020 12:54 PM PST They close your account literally for no reason (only because you are paid in full), without letting you know. If you want to take a look at your payment history online, you can't, you have to call them to send you a physical copy of your payment history. This is ridiculous. I want to be able to look at every single one of my transactions and do a data analysis on it but they don't even give you the option. So in summary, if you're interested in keeping a record of your payment history export it all out before you make your final payments. Also, you can call them for request for an electronic copy of your transactions and payment history, or to mail you a copy, but not both (another ridiculous thing). I did that today and they said it'll take 1 business day to be delivered to the Inbox in my account. I've suffered too long, spent too long on the phone, and paid too much to deal with this bs bureaucratic stuff. But I'm givinh you all this PSA so hopefully I can save someone else's time :) [link] [comments]  |
| Posted: 03 Jan 2020 10:06 PM PST Currently my loans are sitting at 61,485$. I have saved up 72,362$. My loans are my only source of debt, and part of me just wants to pull the trigger and pay them off in full. However I've received conflicting advice from friends and family, and most people tell me to keep paying them off as part of a plan and hold on to my current savings in the event that something comes along. Thoughts? [link] [comments]  |
| How do I help my partner start paying his student loans? Posted: 04 Jan 2020 12:54 AM PST He is not makong a lot of money and therefore not making payments. He told me he owes about 30, 000 and from my understanding he isn't doing anything to move forward. He says that he has tried to call to request income based payments but has had no success getting through to a person. How can I help him face this daunting problem before it gets out of hand? [link] [comments]  |
| Posted: 03 Jan 2020 11:20 PM PST I have already called 4 or 5 numbers over the span of 5 days. Is there a reason why I'm waiting on hold for 20 minutes and being sent to a voicemail. I just read complaints about the company on the Better Business Bureau website. It looks like this is a common occurrence that other people also experience. Along with having tax returns swiped from people even though they are in rehabilitation and making payments. It looks like the company always has an excuse for these action. I would like to know if anyone here has had any negative experiences with this company. [link] [comments]  |
| Made a plan to pay off everything by Christmas 2023! Posted: 03 Jan 2020 02:35 AM PST Hi All! Long time reader on this subreddit, but first time posting. Firstly, I just wanted to start off by saying that this community and the support we all give each other really lifts some of the weight off my shoulders when it comes to the burden of student loan debt. I thought I'd share my story because it's cathartic to write it out, but also might be useful to read! Graduated in Nov 2016 with $82,853 in debt. Standard 10 year repayment plan requires $915.38 each month. From July 2017 to June 2019 (pretty much 2 years), I would meet the minimum repayments. July 2019 onwards, I committed to paying $915.38 on a fortnightly basis (each Wednesday when I get paid). Currently I am sitting on $59,688 in debt now (Approx $22,870 down, and approx paid $13,335 in interest). This current number is about $6,000 less than what I would be sitting at if I didn't start doubling my repayments each month. My spreadsheet shows what my debt will be at each month compared to what it would be at if I was still making minimum payments, and I must say it's so nice to see the massive difference! For example: Dec 2019 (25 years old) Standard: $65,795 Double: $59,688 Dec 2020 (26 years old) Standard: $59,832 Double: $43,345 (but I'll make an extra payment to make this an even $40,000!) Dec 2021 (27 years old) Standard: $53,326 Double: $26,210 (I'll make an extra payment to make this an even $20,000) Dec 2022 (28 years old) Standard: $46,821 Double: $9,075 (I'll pay this off as a single lump sum as a Merry Christmas present!) I realise it is simple math, but when you compare the difference in debt, it really motivates me to keep the double payments going until Dec 2022. I encourage everyone else to do something like this and it will really help with your mental health/stress of debt. My loans:
Tackling Loan 6 first as it has the highest interest rate - committed to the Avalanche method until this entire thing is paid off. A little bit about me: 25F civil engineer on a base of $85,000pa and a bonus of $8,500pa. Rent: $570 per month (splitting an apartment with my boyfriend). Utilities: $90 per month Health insurance: $90 per month Food: $300 per month Loans: $1850 per month Clothing/beauty/disposable income: $280 per month Savings: $1250 per month Current total savings: $15,250 401k savings: $23,000 Random stocks: $8,500 (current value - it could all come crashing down!) I know some of you will say that I should save less and put more towards the loans to pay it off even quicker, but I am happy to spend the next 3 years living as per above because it will allow me to be able to enjoy life, travel and save up for the things I want in the next 4-5 years (car, wedding, baby(s), house). That being said, I would really appreciate any advice/feedback in case I am making any silly/stupid mistakes. Stay strong everyone, we can get through these debts. Happy and safe 2020. Edit: I will finish by Dec 2022, not 2023. [link] [comments]  |
| Making additional payments to one a specific Sallie Mae loan Posted: 03 Jan 2020 09:20 PM PST I'm trying to make an additional payment to one of my Sallie Mae loans. All of the loans as set to auto debit on the 13th of each month. When I go to input my payment amount it first states the following:
Once I click to proceed with the payment, I receive another message that states:
It seems to me like these to messages are conflicting. Should I just augment the amount that gets removed from my account for that particular loan? or am I safe to make this additional payment? [link] [comments]  |
| Posted: 03 Jan 2020 05:57 PM PST Sorry if this is a stupid series of questions. I'm a single mother of three and am head of house hold. I can't survive off of what I'm able to make. I have a few credits toward my associates done from 10 years ago. Would I be able to get enough student loans and fasfa to be able to support my household while in school earning a degree to teach? [link] [comments]  |
| Looking to Transfer Colleges- Worth the Debt? Posted: 03 Jan 2020 11:17 AM PST So, I'm currently in undergrad and spent the last 2 1/2 years of my degree living at home and going to a state university in FL, no debt, and making money. Recently I applied to transfer for spring 2021 to University of Miami to study economics with a minor in marketing. I was ecstatic when I got in considering I hated the college I am and was at and wanted to move. Going in, more of the realities set in. My parents make a good sum of money and didnt end up getting any financial aid. They said they'd pay for some, but not all, and in short, I'd be about $70k in debt and in total after graduating from Miami. I'm enrolled in classes, but have not made payments yet and am not 100% sure I want this debt. I have great internship experience, this recent summer I was working in corporate VC in SF and plan on having a corporate job in the startup, investing or general business environment in NYC. Is this wise to do for a better "brand name" degree, especially considering where I want to live and the industries I'm pursuing to work in? Or would it be better to stay at the state, public university I'm currently kind of miserable at and just plan on graduate school? I'm currently planning on getting a graduate degree at a university in Europe and possibly in the U.S., not sure which ones yet though. Please let me know your thoughts and opinions on both the degree value of UM and thoughts on graduating solely in undergrad with 70k debt. Thanks! [link] [comments]  |
| PSLF-has anyone actually had success? Posted: 03 Jan 2020 01:03 PM PST My 10 year mark is up in 2024 so I feel like I'm too far in too quit but I haven't heard of anyone actually getting their loans forgiven. Does anyone know more on how this works or if it does? [link] [comments]  |
| Posted: 03 Jan 2020 01:01 PM PST Last April I applied for and was approved for $5,000 from Sallie Mae for this current Academic year. After reviewing my financial aid, my university reduced the loan to $1,500 because of veteran benefits and grants. I would have been at the max regarding COA. During the fall semester, the university realized that I was near the aggregate max for Pell grant, I'm in my 6th year as a double major, and removed $3,097 in grants for the spring semester. Since there has been a fall dispersement for the mentioned loan, I was told I would need to apply for a 2nd loan through Sallie Mae to make up the difference that the grant removal caused. I have poor credit, losing a job after leaving Army caused a lot of credit issues that I plan on addressing once I'm done with school. I come from a low-income background and my father had strong credit when we initially applied for the loan last year. However, a work related injury has made him unable to work for almost a year now and he has missed some credit card payments as he waits for a disability decision. I applied for a second loan through Sallie Mae for $3,500 with him as a co-signer today and we were denied. My financial aid office told me Sallie Mae wouldn't need to conduct a second credit check, but that's apparently not true. I don't have anyone who could qualify as a credit worthy co-signer, and I'm not comfortable asking around. Am I screwed or is there anything my university could do to rectify the situation? I was told by a Sallie Mae representative last week that my university could re-certify the initial loan for the original amount, but the financial aid office said that applying for a 2nd loan would be a more seamless option and that a credit check wouldn't be necessary. I found out that isn't the case and now I'm not sure what I can do moving forward. [link] [comments]  |
| Calculation student loan payment Posted: 03 Jan 2020 12:22 PM PST Sorry if this isn't the place the ask this question. My SO had left all of his loans default several years ago. He got one set out of default about a year ago and just got the second set rehabbed here a few weeks ago. Set one he was on IBR and the last recertification wasn't eligible any longer so appears to be making the standard payment. When we go to the calculator on student loan.gov it shows what his payment should be when we've logged in, but he has two different servicers so is that payment amount we are seeing there correct or will each servicer calculate their own amount and we would only get that payment amount we are seeing by consolidating the loans? The one payment is already almost $300 and the amount of dollars on the loans that were rehabbed is not much less than the amount he's paying on now so if the second servicer comes along with another $300/mo payment that's going to be challenging to pay. The second servicer is keeping the payment he had during rehab for the first three months and then they said it would change, we just don't know to what and are trying to prepare. [link] [comments]  |
| Posted: 03 Jan 2020 01:43 PM PST Hey everyone! I hope you all had a great Christmas/ New year! I have about 20k in loans. I downloaded the fed loan app so that I can keep a close eye on my loans and interests exc. I just want to be sure that I didnt open a loan with anyone else that I somehow lost track of. I checked the NSLDS and I made sure those loans matched what I currently know. Is there any other way that I can check other loans? Thank you for your responses in advance! [link] [comments]  |
| Posted: 03 Jan 2020 01:30 PM PST Here's the data. I'm extremely focused on paying off student loans, and i've been following this thread for a while. I'm looking to pay down my student loans in the next 3 years maximum, so refinancing is something i've been looking into. Historically, i've averaged close to 2k a month since July 2018 until current, and for 2020, i'm aiming to consistently pay 2300 every month. i'll attach what my loans are, but i have been using the avalanche method and targeting the highest interest loan down, and had a goal of paying off the two highest interest loans this year. My question is, would it be worth it to refinance? I checked laurel road and they are offering a fixed 4.05% rate with auto pay which has been the lowest i've ever seen Below is the math i did just with Laurel, i've periodically checked other companies, but they have no offered anything close to that just yet, even SoFi. Current balance: 76,132 @ 5.68% (avg across all loans) = 11.83 daily int * 30 days = 355 in accrued interest. Laurel interest rate: 76,132 @ 4.05 = 8.44 *30 days = 253 monthly interest. Help me brethren [link] [comments]  |
| Do I pay off my debt or not yet? Posted: 03 Jan 2020 09:42 AM PST Soooo, I have a bit of a weird dilemma. After 10 years, I now only owe $1,400 in my student loan debt and I could pay that off in its entirety by the end of this month. However, that will mean lowering my credit score AND age. Problem is, I am planning to look for an apartment sometime this March after I get my tax refund and my car lease is up this August. I may or may not want to get a new lease so that I can get a new car. I know having good credit will get me a good monthly rate and of course, a decent place to live. Right now the car rate I am paying is slightly high because when I started the lease in 2017, my credit at that time was atrocious but now it's good. So I just wonder should I bite the bullet and just pay off the debt once and for all and risk having lousy credit (once again) or should I extend the loan at least until the summer time? I hate that this is even an issue. Why does society punish us for paying off our student loan debt???? Ugh. Thanks in advance for your help :) [link] [comments]  |
| Withdrawing before federal loan disbursement date Posted: 03 Jan 2020 12:51 PM PST My school disburses federal loans 21 days after the first day of classes. If I withdraw before classes start, will the loans still end up disbursing and a refund be processed (and I end up owing on those loans immediately) or do I need to make sure my school takes steps to cancel my loans ahead of that date? [link] [comments]  |
| Individual loan payoff question Posted: 03 Jan 2020 07:40 AM PST One of my loans has a remaining principal balance of $648.07 and current interest of $4.10. I want to take $652.17 and pay this off right now. But I am signed up for auto-debit for the 0.25% interest rate deduction from my federal loan servicer MOHELA, which is scheduled for the 6th of every month. It usually takes three business days for my payments to post, so if I paid off the remainder of this loan today, it wouldn't hit prior to my auto-payment. what would happen to the $65ish that is scheduled to come out of my bank account automatically for this specific loan? Would it just be redirected proportionally to the other active loans? [link] [comments]  |
| Old Edvest account? What do we do with it? Posted: 03 Jan 2020 08:21 AM PST Hey everyone! My husband and I are in kind of an unsure spot right now. His dad had an edvest account for him with about $10k in it, but my husband never used it and now his dad is saying that edvest is sending the full balance back to him. Originally (before the account was being closed) we were going to put it towards my student loans (Approx $60k), but now that it's coming back in the form of a check my husband is thinking of other options.. A snapshot of loans and other finances: Parent Plus: $18k (6.96%) Parent Plus: $11k (6.06-6.75%) The rest of my loans are lower interest and I wouldn't put 10k into them. All perkins and gov. loans. Mortgage: $132k No other debts besides a couple credit cards with reasonable balances. Combined we make about $75k/yr split pretty evenly. We have comfortable joint savings and I have my own personal savings, but my husband wants to use some of this check to build his own savings. I think I'm too focused on my loans, so I'm looking for some outside perspective on what's reasonable to do with this check. I think I'd like to pay off that $11k loan, but since it really is my husband's money I think he should be able to keep some for himself, it's just hard when I know I could pay a loan off in one chunk! If any other information would be helpful, let me know! Thanks for reading :) [link] [comments]  |
| Teacher Loan Forgiveness Botch Job Posted: 03 Jan 2020 07:54 AM PST Hi all - I think we botched something. I forgot about teacher loan forgiveness. My wife is the teacher, but I am "in charge" of managing our loan repayments. I remember learning about this option and then saying "life is busy, we have way more than $5K in our loans, we'll do it later....." and now she only has a tiny bit over $5K left in four loans with two lenders/servicers. Btw, my wife knows about this and has already forgiven me :-) Couple of questions. I see the form here: https://ifap.ed.gov/dpcletters/attachments/GEN1419AttachTeacherLoanForgivenessApp.pdf Section 6 is blank. After her principal signs, do I send the form to both servicers or do I send it to one place and then somebody else figures out which loans it applies to? It looks like this can take a few months to get approved? If that is case, how will they handle the fact that she qualifies for 5K forgiveness, but there is less than 5K total outstanding balance? (I have already confirmed her school is eligible) [link] [comments]  |
| Posted: 03 Jan 2020 06:13 AM PST I am attending grad school at a public University in Florida. So far I have been paying tuition with a combination of out of pocket and some left over college fund. I've had a lot of expenses this past year (buying a house and whatnot) and I am in a position where I would like to take out a loan for my last year of graduate school. In my school's financial aid portal, it has always offered loans, I have already completed my FAFSA for 2018 and 2019, so the only steps on there were to accept or deny the loan and complete the initial loan education class on a separate website. But now I have no idea what to do. I don't want to apply for loans on an outside site since it seems the school is involved directly somewhere. I have reviewed the financial aid website for my school and have found no other instructions, any help would be appreciated. Thank you!! [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