Celebrating being 1/8 done Student Loans |
- Celebrating being 1/8 done
- I have no idea what I am doing.
- I'm confused about fixed rates
- Lowering Monthly Payment
- Concerns about Federal consolidating to a private company? Variable vs Fixed Rates?
- Have the money to pay all my loans in one go.
- Attacking my loans!
- Financial aid living off campus or with parents
- Should I use some savings to completely pay off my loan or should I keep going as I have been?
- If you pay a lump sum to lower principle amount of student loan will this lower monthly payment?
- Nelnet Bulk Payoff Interest
- Am I responsible for her loans after we got married???
- Are you helping to pay the Parent Plus Loan?
- Did not get accepted this semester
- Refinanced Loan Tax information?
- Please help me understand the interest on my loans / how to target my loans
- Refinancing my loans + Absorbing my mom's loans
| Posted: 01 Feb 2020 06:43 AM PST I still owe a great deal, but I brought down my loan total from $82,000 to $68,000 in 6 months. This community has really helped me stick to my budget and realize I'm not alone in this. [link] [comments]  |
| I have no idea what I am doing. Posted: 01 Feb 2020 05:59 PM PST So... the short story of it all is. I went to ITT Tech in 2011 and have been living in an environment that made it impossible to make any payments or anything. I then joined the Navy in 2015, got out in 2019 and am now ready to take on the world and get my finances in order. Now the overwhelming thing is... the department of education loans are like... spread into 4 different loans. And the other half is wrapped up in Peaks Private loans. I applied for student loan forgiveness for the department of education loans... so they are under investigation last time I checked. The downside is those loans are still generating interest. Could someone please guide me through the process of applying for loan forgiveness? Maybe I didnt apply correctly, or went to the wrong place, it's been almost a year since I have applied and maybe something has changed since then. I just discovered the Peaks Loan forgiveness page so I went to apply for eligibility. I dont know where to begin, what am I supposed to be doing and where do I go to do it? I'm pretty much lost and worried that I am just SOL. [link] [comments]  |
| I'm confused about fixed rates Posted: 01 Feb 2020 10:09 PM PST Ive been researching on federal student loans and for their direct loans, they say they have a fixed rate for the term length. So if the rate from Jul 2019 - Jul 2020 for subsidized/unsubsidized is 4.53%, and lets say I get a loan this year, for the rest of my term length until Im finished paying off the loan, the interest rate will stay 4.53%? So does the interest rate of when you first apply for a loan become the rate for the fixed rate for the rest of term length? [link] [comments]  |
| Posted: 01 Feb 2020 07:27 PM PST Looking for clarification before I do this and screw myself over. Last year, I submitted my IDR recertification based on my pay stub (I make $1200 every two weeks-$15/hr). I read that if you recertify using your tax return, your payments will be lower because it takes into account your AGI. My AGI for 2019 was only $27, 538. I'm asking because when I did the payment estimator, the lowest payments said that it would be $40 a month higher. For reference, I have about $63,000 in loans and pay $48.63 per month. Is it going to benefit me to recertify early or should I wait? Thank you! [link] [comments]  |
| Concerns about Federal consolidating to a private company? Variable vs Fixed Rates? Posted: 01 Feb 2020 07:02 PM PST Hello, I have been recently been looking into combining 6-8 loans, all but one Federal, worth 25k with an average of 5.9%. I found a company that would refinance with a fixed of 4.9% and a variable of 3.14% for a 5 year plan. Two questions if anyone has an input or advance. 1) I am afraid of a possible federal bailout or something with student loans if the political landscape changes. And then my loans are locked from any forgiveness because I refinanced with a private company? Would it be worth the risk to forgo this possibility or is this idea of loan forgiveness a pipe dream? 2) What do I risk doing variable rate? How often does it change? And if I maintain a good credit score should this maintain over the next 5 years at least? Thanks for the help! Luck luck everyone with there loans! [link] [comments]  |
| Have the money to pay all my loans in one go. Posted: 01 Feb 2020 06:54 PM PST Hi everyone! This might be a silly question. I have 23k in subsidized and unsubsidized loans (3 of each, so 6 loans in total) from Navient. My mom was very kind to offer to pay off 19k. I offered to pay the rest. If we were to just do an online payment of the entire thing before my next month's payment is due (Feb. 18th), would there be any repercussions? Interest fees? [link] [comments]  |
| Posted: 01 Feb 2020 06:52 AM PST I took a second job in October to pay off some consumer (credit card) debt that crept up on me. Now I am consumer-debt-free and attacking my remaining $28k in Federal student loans. They are costing me $5 in interest every day. Yesterday I made my first big overpayment of $1.4k to my loan with the highest interest rate. I have already paid $15k, but over more than a decade. I'm really excited and motivated to get rid of my remaining debt in the next two years. It can be done!! I'm ready. [link] [comments]  |
| Financial aid living off campus or with parents Posted: 01 Feb 2020 03:25 PM PST I am currently in my first year (second semester) of college and I live with my parents. This year I received enough financial aid (grants/scholarships not loans) to cover my full tuition which was around 13k, I did not have to accept any loans due to living with my parents but keep in mind that I filed on fafsa as living with my parents. This upcoming year my cost of attendance is estimated at 27k, I filed my fafsa forms listed as "off-campus" instead of "living with parents" and received grants/scholarships at around 16k, which will cover my tuition. Housing is estimated at 10k and I also received 10k in loans I could accept. So my question is, if I filed under living with my parents would I receive less grants? I am trying to figure out my best option. In my point of view, it could potentially be cheaper if I lived off-campus if I got a full time job in the summer and saved up money for housing so I could accept all of my grants for tuition and only have to accept little to no loans for housing. I just want as little student debt as possible but I also want to move closer to campus because I definitely feel living at home and an hour away from campus is somewhat hindering my involvement to school. I am a first gen college student and would love any input from more experienced or knowledgeable students/graduates. If you have any questions in order to help answer mine please feel free to ask. Thanks again for your time! [link] [comments]  |
| Should I use some savings to completely pay off my loan or should I keep going as I have been? Posted: 01 Feb 2020 03:11 PM PST I live in Canada and have 16k in student loans and made about 50k last year and $32k the previous year- started at 24k on loan at the beginning of 2018. Currently below 5% interest rate on the loan and it is my only debt. I haven't been paying super aggressively but I pay at a rate that I'm comfortable with while contributing to savings and other things that I value in my life. I currently operate under the philosophy that life and time are precious and I want to enjoy my time, but I also need to save for the future. So I have a fairly balanced approach when it comes to debt, but I can't help but thinking how amazing it would feel to have the debt gone. I do live quite frugally and mainly put majority of my other money toward paying some rent (while living at home), groceries, car, phone bill and occasional travel. I have about 20k in general savings/retirement funds. I am thinking of moving out within the year, in a high cost of living area and I am comforted by the idea of having a good emergency fund because my expenses will be increasing significantly within the year(this will be because of paying significantly higher rent). My question is, should I just keep paying as I have been (always paying above minimum, but randomly throwing a lot extra when I can), or take a large chunk of my savings and dump it toward the loan while significantly lowering my emergency/peace of mind fund? [link] [comments]  |
| If you pay a lump sum to lower principle amount of student loan will this lower monthly payment? Posted: 01 Feb 2020 05:57 AM PST I recently came into a little money and I wanted to put this toward paying off student loans but if I put it toward principle amount will this help or just reduce amount of interest payed in the long run. any advice on best course of action would be greatly appreciated. [link] [comments]  |
| Posted: 01 Feb 2020 01:58 PM PST Hey everyone, i'm wondering if anyone knows the answer to this. I'm fixing to pay off my loan in bulk with Nelnet. Will they wave my accrued interest if I pay it off all at once? Its over 3k in interest right now. If not, does anyone know of any other ideas? Thanks in advance, Craig [link] [comments]  |
| Am I responsible for her loans after we got married??? Posted: 01 Feb 2020 01:54 PM PST (M-62) Got married last April. Wife does not work and has no income. She has about 100K in student loans and is in some type of deal where she pays 10% of her income once per year. Question: If I claim her as a dependent do I become responsible for her student loan payment? I make almost 200K and I'm almost done with my loans (about 9K left to pay!! YAY!) but I'm not going to claim her as a dependent if I have to give them 10% of MY income! [link] [comments]  |
| Are you helping to pay the Parent Plus Loan? Posted: 01 Feb 2020 06:17 AM PST How much of it are you helping to pay? Or are your parents paying it all? My mom took a $200,000 loan and says I have to help pay half. [link] [comments]  |
| Did not get accepted this semester Posted: 01 Feb 2020 09:51 AM PST Hi, everyone! I got approved for a 60k loan for a school program this February, but I was not accepted at the school. However, I was promised that I would get in this July. Do I need to reapply for the same loan or will my loan still apply for this coming July? I got my loan from Sallie Mae. Thank you! [link] [comments]  |
| Refinanced Loan Tax information? Posted: 01 Feb 2020 08:01 AM PST So I recently refinanced my student loans from one company to another entirely. But I can't seem to find my tax documentation on either of their sites with a quick search. I refinanced literally end of year (so my first payment with new lender was January) so it should all be in one spot. Should it be with my old lender somewhere, or my new one? (Old is WF and new is Firstmark if that matters) [link] [comments]  |
| Please help me understand the interest on my loans / how to target my loans Posted: 01 Feb 2020 07:56 AM PST Loan 1 - Direct Unsubsidized Stafford Loan, $23,468.12 @ 5.06% Loan 2 - Direct Student Plus Loan, $42,201.29 @ 6.06% Loan 3 - Direct Unsubsidized Stafford Loan $22,677.02 @ 5.75% Loan 4 - Direct Student Plus Loan, $45,275.29 @ 6.75% Loan 5 - Direct Unsubsidized Stafford Loan, $21,607.94 @ 6.35% Loan 6 - Direct Student Plus Loan, $40,984.04 @ 7.35% Loan 7 - Direct Student Plus Loan, $4,408.84 @ 7.35% Loan 8 - Direct Student Plus Loan, $6,261.81 @ 7.35% Current Principal $206,866.03 Accrued Interest as of 1/30/20 $580.24 I've only been in repayment for a few months. I'm on REPAYE so my monthly payments are very low, but I've been paying exactly $3,000 per month and I feel like I'm barely making a dent due to the interest that keeps accumulating. My checking account is autodebited for the monthly REPAYE payment on the 9th; around the 15th of the month (when my second paycheck hits), I pay around $2800 - whatever I need to in order to hit $3k for the month. I am wondering the best way to target that ~$2800 payment. Should it just go toward the loans with the highest interest rate? All of my loans have pretty high rates, but obviously 7.35 is really high. I am considering refinancing but not for another year at least - I'm not in a position (yet) to lose the government protections. Any advice/insight appreciated. [link] [comments]  |
| Refinancing my loans + Absorbing my mom's loans Posted: 01 Feb 2020 07:17 AM PST Hi Reddit! I just joined the site and this is my first post. I'd like to re-evaluate the state of my finances and it's definitely anxiety inducing. Amongst other money moves is deciding whether or not to refinance the loans under mine and my Mom's name. Since graduating in 2013, I've been consistent with my repayments, have a really good credit score, and have gotten offers from the private loan I took out to refinance. It seems like a good idea, and I'd like to see if it's worth privately refinancing my government loans too. My mom is also paying loans for my education, but after reviewing the history of repayments, it doesn't look like she's making much of a dent. Although I can't take all her debt, I've read that parents can refinance the loans they took out and put it under their children's name. Would my credit score help us get a better rate if she refinanced it under me? Or, maybe she can refinance under her name and I direct deposit money to her every month? Has anyone else gone through this? Please offer your advice and experience! [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