Loan forgiveness vs paying it off Student Loans |
- Loan forgiveness vs paying it off
- SLI Tax Cap questions
- Question about Earnest
- Do Refinanced Student Loans Ever Have Prepayment Penalties
- Federal Loan Consolidation Questions
- Payoff amount less than balance?
- Is forgiveness an option for teacher assistants?
- TPD discharge taxable under PA law?
- Want to return to school but student loan is in default
| Loan forgiveness vs paying it off Posted: 08 Feb 2020 08:51 PM PST I started working as a pharmacist and make about 135k a year. After finishing school, I'm left with about 206k of student loan debt. I've started paying about 2k each month to my loans. I was on an income repayment plan which only had me paying $200/month. But now I have to recertify my income and I'm sure it's going to go up. I work for a nonprofit healthcare provider and I'm wondering what is better.
Anything helps. Thanks [link] [comments]  |
| Posted: 08 Feb 2020 01:51 PM PST IRS SLI cap questions I'm a social worker and I have $139K in federal and private student loans. Each year I pay over 10K in student loan interest. Each year it's the same $2,500 cap for claiming student loan interest on my taxes. Is there or will there ever be a bill in Congress to take this cap to more than the pitiful $2,500? It really should be like $20K now especially since the rates for college have grown like 400%. When was the initial $2,500 cap put in place? Was it when colleges charged $10K for all 4 years? Or even when college cost $10K a year? This is craziness and it seems no one even sees this issue. If I could claim all of my student loan interest, I'd put my refund back into paying off the principle. I wouldn't need free college, (but I'd still utilize PSLF as I am now). [link] [comments]  |
| Posted: 08 Feb 2020 06:01 PM PST They require you to link your bank account. Does anyone else see this as a major turnoff. What if they get hacked? [link] [comments]  |
| Do Refinanced Student Loans Ever Have Prepayment Penalties Posted: 08 Feb 2020 02:13 PM PST My Fiance is a current student has a student loan cosigned by my father for ~10% fixed Apr through Salie Mae and we are looking to refinance her loan with me as a cosigner now that I am employed. I spoke to Citizens Bank to understand what my options were and they told me that they would want to first refinance the loan with my father as the primary and me as the co-signer, then make at least one payment before refinancing the loan again in my sole name with my fiance as the cosigner. This struck me as unnecessarily complicated. Is this some sort of trap? Would I lose some important protections by switching the terms of the loan around in this seemingly convoluted way? [link] [comments]  |
| Federal Loan Consolidation Questions Posted: 08 Feb 2020 08:23 AM PST Hello! I recently applied to consolidate all my federal student loans and I have a couple questions that I've been unable to find the info for. Are all federal direct consolidation loan applications accepted? It said that I could apply no matter what my income and credit score are. At the moment, I have no income, and I haven't had one in several years due to illness. The email that I received from Nelnet said that their processing would be done on 3/26. Do they usually take that whole amount of time or is it just estimated? I would like to hear something from them asap so I can start to plan the next few months of life. Like I said before, I have been unable to work for several years due to illness, and at this point, it is either go back to school to finish my degree in order to find work that I actually can do, or file for disability. I do NOT want to do the disability route, so getting my loans out of default quickly in order to return to school was the best course of action. They had been in default for well over a decade and had already aged off my credit report. I also still have grant eligibility, so if I had to ever take out loans again, it would be minimal, and I already don't owe all that much (around 20k). Thanks in advance! [link] [comments]  |
| Payoff amount less than balance? Posted: 08 Feb 2020 12:34 PM PST I've been putting about $250 towards a loan that luckily I got really far ahead on (monthly payments have been saying I owed $0 for over a year now). Now it's time to pay it off. I requested the pay off amount and it's about $100 less than my current balance (tried multiple days in the week and the pay off amounts are all similar). If anything I thought it would be more. Is this stockholm syndrome thinking that if it's not more $$ something must be wrong or is this something that happens? [link] [comments]  |
| Is forgiveness an option for teacher assistants? Posted: 08 Feb 2020 12:30 PM PST My wife is a TA at our local elementary school. We just had a child and we are trying to figure out a way to lower our payments on her remaining loans. We have 12,000 under her name and 15,000 under her mothers name (who also works at the school). The payments are just a little much right now totaling about $600 a month. We are looking for the best advice on refinance or investigating forgiveness but it seems every way we turn the company charges a fee to assess the loans. Thank you for any insight or help you can give us. [link] [comments]  |
| TPD discharge taxable under PA law? Posted: 08 Feb 2020 07:07 AM PST I'm applying for TPD, and wonder if I will owe the state of Pennsylvania income tax on the amount forgiven due to disability discharge? [link] [comments]  |
| Want to return to school but student loan is in default Posted: 08 Feb 2020 06:03 AM PST I have a defaulted student loan that is being paid off by deductions from my payroll. Because these payments are not made voluntarily my loan still remains in a default status. I was told after 3 voluntary payments my loan will no longer be deemed 'default' and I will be eligible for my financial aid to continue school. My question is, does this mean I can make 3 additional out of pocket payments and have a status to attend. I've been trying for a week to get in touch with the debt collector my loan was turned over to but no one has returned my call. I'd like to enroll for summer classes (payroll deductions will pay loan off by end of November). If anyone can provide some clarity on this or options I have your expertise is greatly appreciated [link] [comments]  |
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