Great lakes has switched on 0% Student Loans |
- Great lakes has switched on 0%
- Ftc returns over $3 million to victims of student loan debt relief company.
- Applied for COVID-19 forebearance 4 days ago and still waiting for action...anyone in the same boat?
- Will I regret 180k in law school loans?
- Link to Federal Student Loan Section of CARES Act
- 1-year repayment plan -- am I missing anything?
- 3M Clears the Air about Social Media Metrics
- Federal student aid issue
- What am I getting myself into with these loans?
- Student loans of $50k
- Another cool benefit for student loan borrowers in the CARES Act
- How does the current situation apply to someone with loans, still in school or just graduating?
- Interest rate freeze?
- Unemployment and student loans
- Currently making payments but what happens to my loans when I return to school?
- 3 year forbearance with Navient.
- Change on position for interest capitalization after emergency forbearance?
- Should I take what I would have put towards my loan this month and put it in the stock market?
- Are UK Student Loan charges income based only?
- Any thoughts on Splash Financial? Looking to refinance private loans to keep cutting my interest rate.
- How to properly deduct my student loan interest of tax return.
- A couple (I think) basic questions....
- Public Service Loan Firgiveness
| Great lakes has switched on 0% Posted: 26 Mar 2020 04:52 PM PDT That is all. Just wanted to. Give people assurance that they are working on it and that they are switching people over now to it. [link] [comments]  |
| Ftc returns over $3 million to victims of student loan debt relief company. Posted: 26 Mar 2020 05:02 PM PDT This made my day. And a good reminder with everything that's going on that the scammers will be out in full force. https://www.ftc.gov/news-events/press-releases/2020/03/ftc-returns-more-31-million-victims-student-loan-debt-relief [link] [comments]  |
| Applied for COVID-19 forebearance 4 days ago and still waiting for action...anyone in the same boat? Posted: 26 Mar 2020 05:55 AM PDT My due date for next payment is still set for April 1st and is getting kinda nervous that it won't get processed in time. [link] [comments]  |
| Will I regret 180k in law school loans? Posted: 26 Mar 2020 08:46 AM PDT I've been accepted to a top 5 law school which charges 60k a year. I have savings and my parents will help with cost of living/housing while I'm in law school, but I would still have to take out loans for roughly 180k in tuition. The school's median income after graduation is 190k and the degree is obviously very well regarded in the legal community. I do have another top 20 option with a 75% scholarship, however that degree is not nearly as well regarded, and I worry that it will limit me in my career goals (clerkship, eventual academia) as well as my lifetime earning potential (this school doesn't list average salaries upon graduation but we can assume it's a good bit lower). This school would leave me with 45k in student loans. Does anyone have experience with these types of loans/working in big law after graduation? I would love to get some advice, on one hand I think the 180k might be worth it for 50 years of elevated career options, but on the other I'm concerned 180k in debt will make me depressed/anxious/ruin my life. Any advice is welcome! [link] [comments]  |
| Link to Federal Student Loan Section of CARES Act Posted: 26 Mar 2020 09:06 PM PDT Here's the direct link to the section of the bill that addresses student loans. No interest will accrue for three months on federal student loans. Payments can be suspended within this time without penalty. Every month without payment during this time will count as an on-time payment for the purpose of forgiveness programs. The Secretary may extend these provisions for another three months. Temporary Relief for Federal Student Loan Borrowers [link] [comments]  |
| 1-year repayment plan -- am I missing anything? Posted: 26 Mar 2020 11:46 PM PDT Hi, all, First time posting here. I've tried to follow all rules and etiquette, but please let me know if I've slipped up in any way. I'll try to keep this short. I will graduate in May of this year with a total of ~$80,000 of student debt (40 federal, 40 to my parents). My plan is to pay these off in just over a year. I accepted a position in Wisconsin making $130,000/year. My (very rough) estimate is that this will come to just under $100,000/year after taxes (I believe the specific estimate is 97, but let's work with 100 for round numbers). My plan is to live reasonably but frugally for this first year. I have relatively few other obligations other than student loans, so my estimate is that my living expenses (housing, car lease, food, insurance, phone payment, etc.) should come out to around $2500/month, or $30,000 per year. I intend to dedicate all income above this amount (plus any windfalls -- bonuses, etc.) to my loans. This would leave me owing just over $10,000 at the end of the first year, which I hope to mop up within the first few months of Year 2. My question is: Am I missing anything? The only key variables I can identify thus far are 1) Interest, but I anticipate that will be relatively low in total (maybe 5G?), as the loan (6% interest) will be paid off relatively quickly. 2) Health insurance -- not sure if it's included in my salary, and I know that can get expensive. Of course, whether the job will still be there when I am supposed to start is a variable as well with the COVID crisis, but I've thus far been assured that I am to start as planned. Any and all advice is very much appreciated! [link] [comments]  |
| 3M Clears the Air about Social Media Metrics Posted: 26 Mar 2020 11:01 PM PDT 3M is an American multinational conglomerate corporation with its headquarters in St. Paul, Minnesota. 3M has operations in more the 65 countries around the world employing 88,000 people. You might be familiar with 3M Scotch Tape and 3M Post-It Notes but it also produces 55,000 other products. [link] [comments]  |
| Posted: 26 Mar 2020 08:59 PM PDT Hello Everyone, I don't know if this is the place to post this. However I am having issues completing the MPN and the interview. Every time I hit submit I get an error saying "sorry federal student aid is currently unavailable". Anyone had this issue. I've tried multiple browsers, settings, and devices. Could it possible be due to them not having my enrollment information. [link] [comments]  |
| What am I getting myself into with these loans? Posted: 26 Mar 2020 01:00 PM PDT Hey everyone! Quick question for all of you, going through this already... I was accepted to GaTech (85k in loans), Northeastern (55k), and University of Maryland (state school, no loans)... just wanted your opinions on whether loans that high or even in NE's range were worth it, considering I want to get OOS so bad. Thanks! [link] [comments]  |
| Posted: 26 Mar 2020 11:13 AM PDT Hi reddit This is my first post in studentloans thread. Im seeking advice for I have just graduated from college not too long ago. So i have federal student loans of $50k and for now, I am making minimum payments. $190/monthly: (around)$15 in principle and $180ish into interest. I want to aggressively payout to decreased my loan as much as possible. My target is putting $800-$1000 monthly into student loan. Since I am in $190 monthly and if i make extra $800 to the loan same month, will that $800 go straight into principle or do they do some weird calculation? As of now, my repayment is til 2043. Can anyone help me what the best way to tackle this? Sorry if i dont make sense. Im just starting to get into the repayment of loans. [link] [comments]  |
| Another cool benefit for student loan borrowers in the CARES Act Posted: 26 Mar 2020 06:11 AM PDT Employer student loan repayment is temporarily tax free. Here's what the language says: The provision provides an exclusion from income for employer-paid student loan repayment assistance, through the end of 2020. The tax-free status is implemented by expanding the definition of educational assistance in the exclusion from income for up to $5,250 in employer-paid educational assistance This also includes tuition reimbursement. So if your employer makes student loan payments for you, and you have loans eligible for the interest waiver - not only will they be tax free but they will likely go all to principal [link] [comments]  |
| How does the current situation apply to someone with loans, still in school or just graduating? Posted: 26 Mar 2020 02:13 PM PDT Hi! So, I am new to this sub and generally feeling a little lost in the whole loans landscape. I would love some feedback/guidance. I have government loans that have been accruing over last few years but I have not started paying any of them yet because I am still in school and am also not too knowledgeable about where to begin. I am unsure if they are the type that accrue interest while still in school but I do know I have 2 to 3 different types (I think Pell and something else?), and are all pretty standard federal ones, no private or tap loans. With everything going on currently, from no interest payments for the next 60+ days, through low interest rates in the market, to talks of 10k forbearance etc, and maybe other measures to be taken in the future, I have been thinking about whether there is a smart move to be made prior to graduating that can help in a meaningful way to save some money in the long term. Here are a few questions/thoughts that have crossed my mind lately that I would love your feedback to, and that hopefully others in a similar position may also find helpful. Keep in my mind I won't be graduating for probably another year at least and have limited income at the moment. 1) In general, and especially in the current landscape, should I consider beginning to make payments on any loans, and if so does it matter whether they are the type that accrue interest while in school or not? 2) Would refinancing make any sense given low interest rates and if so are there any suggestions on what to look into and where to begin? Do I have to start making payments before I am able to refinance or are they independent of each other? 3) For anyone either still in school or about to graduate in the next year, is there anything worth considering or taking advantage of to help save money in the long term, especially with the economic situation? 4) Where would I be able to look into the types of loans I have and whether they accrue interest prior to graduation or not, and how would that change the way I should tackle them accordingly? Thanks so much in advance!! Stay healthy 💜 [link] [comments]  |
| Posted: 26 Mar 2020 05:44 PM PDT Hello! Michigan resident here with public and private loans. Do i need to contact them to access the freeze? [link] [comments]  |
| Unemployment and student loans Posted: 26 Mar 2020 04:32 PM PDT I just got approved for unemployment because i was displaced due to covid-19 and im worried that because of this i wont be gettting my student loans for next year and im supposed to be graduating next year. I am recvieng a very small amount. [link] [comments]  |
| Currently making payments but what happens to my loans when I return to school? Posted: 26 Mar 2020 04:12 PM PDT Hi, I have undergraduate loans (both private and federal) that I'm currently making payments on. I'm on MGRS repayment with private loans (paying $82/month - I guess which is automatically only applied towards interest?) I'm on income-driven repayment with federal ($0/month but choosing to pay the $76 per month in interest that accrues on my loans). I'm planning on starting grad school in the Fall and inevitably will have to take out more loans to pay for it. Will my school automatically notify my loan servicers when I enroll and put me back in "In School Deferment" or do I have to call and tell them I'm going back to school and request it? Side note, is it even helpful in the long run for me to make interest payments on my $0/month right now? Especially since I'll have to take out more loans pretty soon? What's the point? Side note side note - Is there any way I can borrow the entire $34,000 I need for grad school all at once? [link] [comments]  |
| 3 year forbearance with Navient. Posted: 26 Mar 2020 02:34 PM PDT Hello, I am currently applying for home loans and for me to get the loan I'd like I was advised to try and get a three year deferment/forbearance for my student loans. I already have done a forebearance for my loans twice. I was wondering if I could get any advice on how I should approach Navient about this. Thanks. [link] [comments]  |
| Change on position for interest capitalization after emergency forbearance? Posted: 26 Mar 2020 01:44 PM PDT So yesterday, when I applied for forbearance, MyFedLoan had the following information on their website: "Any remaining unpaid interest, should it exist, will not be capitalized (added to your principal balance) at the expiration of this forbearance period." Now it states: "Any remaining unpaid interest from prior to March 13, 2020, should it exist, may be capitalized (added to your principal balance) at the expiration of this forbearance period." I feel like this is a bait and switch and definitely not what matching what we have been told previously or what matches the intent of the clause considering interest does not capitalize for disaster forbearance which I think this should fall under. Has anyone spoken directly to their loan servicer to clarify this? Is there anything in the bill which addresses this? It changes the situation for quite a few of us. [link] [comments]  |
| Should I take what I would have put towards my loan this month and put it in the stock market? Posted: 26 Mar 2020 12:48 PM PDT So basically what the title says. I'm lucky enough to have a stable job that pays well and I live at home with my parents so I don't have too many expenses right now. Since it seems like my loans are going to be paused for a while and is not accruing any interest, I was thinking maybe it would be a good idea to take that money and invest in the market? It seems like the market is very low right now and it's rare that you get an opportunity to have no interest on your loans plus very low share prices. Is this stupid or maybe a good idea? [link] [comments]  |
| Are UK Student Loan charges income based only? Posted: 26 Mar 2020 11:35 AM PDT M - 26, from Eastern Europe. Graduated with a Bachelor degree in a UK university in 2018 and now with a loan from SLC for the next 30 years. If due to circumstances i may have to go back to my home country for the rest of my life and i am also unemployed for a period of time there (until finding a job), can loan be taken from my personal savings, no matter how long the unemployment period? I just want to preserve any personal savings without getting charged from them. Or is it always based on income and the they don't charge from personal savings as long as I declare my situation regularly (even if unemployed for a period of time). I've read the T&C's and i believe it's income based only. Many thanks. [link] [comments]  |
| Posted: 26 Mar 2020 11:08 AM PDT I currently have about $39k left on my private loans that I refinanced last year with Earnest to get my rate down to 4.25%. My required monthly payment is $650 and I also put an extra $125 towards it each month. I just bought a new vehicle and while I can afford the payments on it, I checked with Splash financial and I can purportedly get my student loans down to a 3.7% rate with required monthly payments of about $675. It looks to be a decent outcome, but I wanted to see if anyone had any critiques of Splash. Also, it would be to a set 5 year plan, which I am already on track for under my current repayment schedule. [link] [comments]  |
| How to properly deduct my student loan interest of tax return. Posted: 26 Mar 2020 09:42 AM PDT I know I can claim up to $2,500 of interest paid if I make under $65k. Which I meet those requirements but when I put my student loan forms 1098E for my federal and private loans I am getting almost nothing back. Like $100 or something. I'm using turbo tax so everything is pretty easy to put in. But I can't help but think I'm doing it wrong if I'm not getting anything back. Thanks to anyone who can assist me. [link] [comments]  |
| A couple (I think) basic questions.... Posted: 26 Mar 2020 08:04 AM PDT My loan servicer for my federal loans has changed a couple of times. Is there anywhere I can go to see a total accumulation for the amount I've paid and how long I've been paying? Also, while I'd like to have this craziness paid off before, I'm looking at the 25-year IBR forgiveness, which is still a ways away, but I am unsure of how things like this new forbearance/interest will effect it. I honestly am terrified to do anything other than pay my bill every month cause I am scared of the fine print that I don't understand or am unaware of. Like, I just read something that if I'm even thinking about the 25 year forgiveness I should apply now? Is that true cause I've been paying for over 10 years!? I am trying to take charge but the anxiety this gives me is overwhelming. [link] [comments]  |
| Public Service Loan Firgiveness Posted: 26 Mar 2020 08:01 AM PDT Hey group - I just joined. How can you see the number of payments made under the PSLF program. Of course fed loan said they couldn't tell me, so on my end how can I look this up? [link] [comments]  |
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