Postponing Payments Due to Coronavirus (COVID-19) (Nelnet) Student Loans |
- Postponing Payments Due to Coronavirus (COVID-19) (Nelnet)
- Anyone know how to implement the 60-Day relief for Navient?
- Is it beneficial to pay more than the required payments to "lower" the overall owed fast?
- Does Trumps Student loan forbearance apply to loans in collections
- Refinance student loan into tranches?
- Which repayment option to choose?
- Anyone have a timeline when FedLoan will actually implement the 0% interest waiver?
- What should I do?
- MOHELA does not give forbearance for Covid-19
- "Switching" federal loan types
- Taking out equity to pay student loans
- I might redo my Sophomore classes, what will happen to my loans
- Is there a way to cancel a pending payment?
- Feeling Hopeless-- Considering Refinancing my Loans
- Entered Repayment of Student Loans After “In Grace” ... Credit Score Dropped 56 points?
- How do I Hire Someone to Dispute my Student Loan History of Payment?
- Parent Plus Loan, COVID-19 Forbearance?
- If I want to pay more than the minimum, do I have to pay it on a date other than the due date?
- Taking out student loan debt - what steps can I take to best prepare myself for this commitment?
- Question about proposed Democrat $10k plan and refinanced loans.
- Refinancing Help
- Refinancing Advice
- Emergency forbearance, already in default. I know...
- Can I get anymore federal loans?
| Postponing Payments Due to Coronavirus (COVID-19) (Nelnet) Posted: 21 Mar 2020 03:42 PM PDT This is what Nelnet sent me and what they're doing about the problem: • We will automatically apply a coronavirus forbearance if your account begins with an E and you are or become more than 30 days past due. There's no need for you to do anything. • If your account begins with an E, and you are up to date on payments or less than 30 days past due, you can request a coronavirus forbearance at Nelnet.com/nelnetforms/emailus or call us via Nelnet.com/Contact. • If your account begins with a D or J, you can request a coronavirus forbearance at Nelnet.com/nelnetforms/emailus or call us via Nelnet.com/Contact. For more details, visit Nelnet.com/covid-19. [link] [comments]  | ||||||||||||
| Anyone know how to implement the 60-Day relief for Navient? Posted: 21 Mar 2020 06:53 AM PDT My brothers federal loans were easy, he just had to turn off auto pay. His were not navient. I read the https://navient.com/covid-19 statement, but it says I have to contact them. When I call, I don't get an answer. Is turning off auto pay enough? It seems so all over the place. Any help would be appreciated. [link] [comments]  | ||||||||||||
| Is it beneficial to pay more than the required payments to "lower" the overall owed fast? Posted: 21 Mar 2020 08:51 PM PDT Or will whatever the exceeding amount just roll over to the next month payment? Edit: Specifically for MyGreatlakes and Nelnet! I didn't see any info about this on their Coronavirus FAQ updated on march 20th. [link] [comments]  | ||||||||||||
| Does Trumps Student loan forbearance apply to loans in collections Posted: 21 Mar 2020 08:40 PM PDT Does anyone know if Trumps suspension of interest and forbearance applies to federal loans already in collections. I have loans in collections right now which are more than 60 days past due, would this ruling pull it out of default/delinquency and put it under an forbearance? [link] [comments]  | ||||||||||||
| Refinance student loan into tranches? Posted: 21 Mar 2020 07:28 PM PDT Can I take a large student loan, $125k, and refinance it into multiple tranches with different terms? For example: - $25k on a 5 year term (lowest interest rate) - 5x buckets of $20k at 15 year terms (higher interest rate than above due to longer term) This could allow me to optimize interest rates and varying cashflow requirements over the next 15 years. [link] [comments]  | ||||||||||||
| Which repayment option to choose? Posted: 21 Mar 2020 07:22 PM PDT Soon-to-be college freshman. Taking out $10,000 in private loans this year and wondering which repayment option to choose.
I plan on working part-time (full-time during breaks) and paying off way more than the monthly payment amount anyways. Is there any advantage at all at choosing one of these over the other in this case? [link] [comments]  | ||||||||||||
| Anyone have a timeline when FedLoan will actually implement the 0% interest waiver? Posted: 21 Mar 2020 07:17 AM PDT I keep checking my FedLoan account and I'm still seeing interest being charged daily! It's been more than a week already! [link] [comments]  | ||||||||||||
| Posted: 21 Mar 2020 07:02 PM PDT Hello! My name is Vincent and my dilemma is, is it worth it to take out student loans? Okay so, I live in Florida and this May of 2020 I will receive my AA degree and I already got accepted to transfer to three universities that I am interested in. Also unfortunately, I was not offered any grants or scholarships that I applied in. My major is Information Technology. Let's start with the farthest one, and that is Florida State University. I would have to take out about 50k in student loans in two years but all of my expenses would be taken care of. Food, allowances, gas money and etc. Also FSU is about 4 to 5 hours drive from my hometown. The second would be the University of Central Florida. For this one, I would need to take about 8k-10k per year but that is just for tuition, classes and etc but personal expenses will not be paid and I am going to have to work part-time, which is fine for me, but the drive is about 1 and half to 3 hours (One Way) and I say that because the traffic can be that horrible if I were to be caught. And the last one is University of South Florida, which is about the same cost as UCF. The drive is more bearable as it is about 45 minutes to maybe 1 hour and a half (One Way), assuming I get caught in traffic BUT they are discontinuing my major by Spring of 2022. So I need to make sure I pass all of my classes. Please give me your honest opinion, I literally do not what to do. I am scared of the 50k loan and that is not considering the interest that it will accumulate. I also do not want to drive to Orlando for that much (That is where University of Central Florida is located at) and USF is scary to me because of my major being eliminated in spring of 2022. A little part of me, thinks it will be worth going to FSU. Vincent. [link] [comments]  | ||||||||||||
| MOHELA does not give forbearance for Covid-19 Posted: 21 Mar 2020 04:39 PM PDT My loans are held by MOHELA....they have NOTHING on their website about Covid-19....are they not offering administrative forbearance? [link] [comments]  | ||||||||||||
| "Switching" federal loan types Posted: 21 Mar 2020 03:55 PM PDT I just got my Financial Aid notification from UT for 2020-21, and I got a lot in Direct PLUS loans and not too much in subsidized/unsubsidized. I really don't want to take out parent loans due to the very high interest rate and is constrained to my parents paying for it. I prefer subsidized/unsubsidized since they have lower interest rates, and either my parents or I can pay for it. Is is possible to switch the loan type from Direct parent loan to a subsidized or unsubsidized loan so I don't have to bear the 7.08% interest rate? If so, how would i do it/who to ask? [link] [comments]  | ||||||||||||
| Taking out equity to pay student loans Posted: 21 Mar 2020 03:45 PM PDT Is it a good idea to take out home equity to pay student loans? I have a mortgage balance of 230 at an interest rate of 3.7%. Value of the home is ~450K. It's a 30 year loan with 25 years left. I have a student loan of 200K at 6.8%. This is down from 300 K with aggressive payments. I am in the medical field and will be going back to training again for 2 years. During that time, I'll be making 3.5-4k a month. It will be enough to pay mortgage, utilities and some towards loan payment, likely just interest on the loan but not much more. My plan was to take out at least 70 K in equity and pay towards the student loan to decrease the balance significantly where I could afford to make payments with my new income. With the mortgage refinance, I'm hoping to get a 3-3.5% interest rate on a 20 year loan (this would be 5 year shorter than the term I have now). My mortgage payment will go up but the loan term is reduced. I am still not sure if it's a good idea to pay one debt with another one . Please advise me. Edit- I don't want to lose the federal protection so I didn't want to refinance the student loans with a private lender. The refinance rates are in the 4.5-5% ranges [link] [comments]  | ||||||||||||
| I might redo my Sophomore classes, what will happen to my loans Posted: 21 Mar 2020 03:34 PM PDT I was a part time student and I was transferring to full time and my adviser told me all the classes I took during part time was not counted as a Sophomore classes/courses and it only counts as studio courses. So now they figuring it out what will happen to me, if I need to redo all my classes. Anyway, if I will redo my sophomore year, what will happen to my loans? I put in my application that i'm graduating on 2022 but now im too sure [link] [comments]  | ||||||||||||
| Is there a way to cancel a pending payment? Posted: 21 Mar 2020 03:22 PM PDT I have auto pay set up through Great Lakes for the 21st of each month (Yeah, that's today). Given everything going on and the recent announcements by ED, I want to put my accounts into forbearance and put that money towards an emergency fund. My financial future is VERY unstable right now. My question is... is there a way to cancel the auto-payment (which is already processing) for this month ?? [link] [comments]  | ||||||||||||
| Feeling Hopeless-- Considering Refinancing my Loans Posted: 21 Mar 2020 03:03 PM PDT I've been paying on these loans for almost 10 years. For the first 5 ish years I was on a graduated plan and my payment did not even cover the interest. I didn't realize this but when I did I started sending in mega payments and brought it down a little. I was doing really well and on track for awhile. I felt hopeful. Then I switched careers and it took me longer than expected to find a new job. I went on IBR and have had a $0 payment for many months. Now I have a job and I'm feeling nervous about the state of the economy and also hopeless that despite faithfully paying these loans every month and sending in $1500 or more in payments per month I have not really paid off anything in that time. I am thankful for the ability to do IBR and I hear so much about the protections that keeping my loans federal offers me. If that's true then why are my loans still my biggest worry? It terrifies me as someone living with a chronic illness that even if I was disabled and could no longer work I still can't discharge my loans. With literally any other debt I could file bankruptcy (which I understand is not to be taken lightly and something to be done only in the most dire situations) if I absolutely needed it. With these loans, I could literally be living in a cardboard box and though I could go on a $0 payment again, that debt would be due as soon as I got back on my feet and probably ballooned to 4x what it originally was. If I become disabled, sure I could have a $0 payment till I hit the 25 year mark and then what? A huge tax bill I have no ability to pay? So I can file bankruptcy on that, great. I guess. But that means living with the stress and worry for 25 years. That doesn't feel like much of a protection to me. I'm wondering if anyone in here can explain to me what I'm missing and also aside from the loss of the protections, what might be the downside to refinancing these loans. I personally only see upsides-- lower fixed interest = more money goes to principal and I pay these loans off faster. And, if the world or my health really goes sideways I could have the same ability to discharge my debts through bankruptcy as anyone else. The federal government will get their money and frankly after 10 years of essentially interest only payments, they probably already have. I just want to feel a sense of security like I have some options if things get bad and currently I don't. My credit score is really important to me and I'm a responsible person. My end goal is not to screw anyone over but I'm starting to feel like I'm going to live under this cloud of loans no matter what I do and I hate it. [link] [comments]  | ||||||||||||
| Entered Repayment of Student Loans After “In Grace” ... Credit Score Dropped 56 points? Posted: 21 Mar 2020 08:15 AM PDT I just entered repayment for the first time as it's been 6 months since I graduated college. However, when I called to check on first payment date - My credit score dropped 56 points from a 758 to a 702. I also had remarks added and then immediately removed on the individualized DEPT OF ED/NAVIENT loans. It says "the following remark was removed from your account: payment deferred" but I never deferred the payment, I was in grace. Can anyone advise? [link] [comments]  | ||||||||||||
| How do I Hire Someone to Dispute my Student Loan History of Payment? Posted: 21 Mar 2020 01:59 PM PDT Is it possible to hire someone to dispute non-payment reports on my credit report? To send a letter to the correct people to dispute my credit report? Is there a service for this? TDLR: Can i hire someone to dispute my credit history [link] [comments]  | ||||||||||||
| Parent Plus Loan, COVID-19 Forbearance? Posted: 21 Mar 2020 06:18 AM PDT I'm currently making payments on behalf of my dad on a Parent Plus Loan that he took out for my bachelor's degree. What's the over-under on whether or not the COVID-19 forbearance will be applicable for federal Parent Plus Loans? [link] [comments]  | ||||||||||||
| If I want to pay more than the minimum, do I have to pay it on a date other than the due date? Posted: 21 Mar 2020 12:36 PM PDT My first payment for my student loans is due on March 28th. I decided to go ahead and pay it today, a week early. My minimum monthly payment is $189.88. I wanted to pay about $570.00. I noticed that when I put in another amount for my payment to pay another amount besides the minimum, the due date wasn't changing for my monthly payment. So if I want to pay more than the minimum, do I have to pay the minimum plus another amount for the month? [link] [comments]  | ||||||||||||
| Taking out student loan debt - what steps can I take to best prepare myself for this commitment? Posted: 21 Mar 2020 08:10 AM PDT | ||||||||||||
| Question about proposed Democrat $10k plan and refinanced loans. Posted: 21 Mar 2020 11:35 AM PDT I'm pretty sure I know the answer, but is there any possibility that, if passed, a plan that includes paying off part of student loans will/can include loans that were refinanced to Sofi? It sounds like they would not be included, but is it even possible? Like, is there some legal barrier that prevents them from doing so? Also, I know I know, "this is why you shouldn't refinance", "you don't deserve it because you're not paying the interest to the government", etc. I'm just curious. [link] [comments]  | ||||||||||||
| Posted: 21 Mar 2020 07:42 AM PDT I'm taking this current economic situation to look into my student loans. Here's what I got going on. Private: 6.58% $664/mo 10yrs $73k balance. Federal: 4.39% $288/mo 8yrs $28k balance. The loan I'm thinking about is ONLY for my private loans. Citizens Bank: 4.76% $568/mo 15 years. I will be refinancing my 73k balance. Now my private loans (5 total) each show less than $100 in interest. My question is if I refinance to get a lower monthly rate, will I end up paying more in interest. I've done calculators online and they are giving me mixed results. I would call my private loan provider but they are closed for a few days as they move everyone to work from home. Any suggestions/recommendations very much appreciated! [link] [comments]  | ||||||||||||
| Posted: 21 Mar 2020 08:54 AM PDT I am trying to refinance my student loans from Prodigy Finance, a UK based company. I reached out to several lenders in New York such as SoFi, CommonBond, and Earnest, but they all don't accept non-US loans. I could get some personal loans, but the interest rate is much higher than student loans. Do you guys happen to know any lenders that refinance international loans? Any suggestions or recommendations would be appreciated! [link] [comments]  | ||||||||||||
| Emergency forbearance, already in default. I know... Posted: 21 Mar 2020 08:54 AM PDT I am currently in default with a Treasury offset scheduled and my wages being garnished, does anyone know how the 60 day emergency forbearance will affect me? [link] [comments]  | ||||||||||||
| Can I get anymore federal loans? Posted: 21 Mar 2020 05:45 AM PDT So assuming I accept everything that my college is offering me in aid(including subsidized and unsubsidized federal loans) It looks like it would be around $3,500 to go there this year. My parents don't have the resources to help.pay much of it so I was wondering if I could somehow take out more federal loans or do I need to go the private route? [link] [comments]  |
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