Under $10k for the first time since 2006 Student Loans |
- Under $10k for the first time since 2006
- Thank you <3
- Student loans paid off
- My mom took out Parent Plus loans (total 80k] for me but was abusive. When I was younger I had no idea and also didn't know what debt was like at 17. Now I'm about to graduate and she makes 6 figures... what do I do?
- Is there anyway I can pay off my student loan debt for the school of my dreams?
- Does anyone know any resources that could help an international student finance college in the US
- Should I pay em off now or closer to the end of the pandemic assistance?
- Is there a big difference with having a co-signer and not having one in terms of an interest rate?
- Maxed out federal student loans for graduate and undergraduate(165k)...could I find another way to go back to school?
- Is there really any point of stressing student loans? I doubt we’ll ever pay them off
- Can you wait until the middle of the year to take out student loans?
- Paid off my student loans last month, how long before credit bounces back?
- Help locating a student loan lawyer?
- On PAYE - soon to be spouse on REPAYE. Can I stay in PAYE?
- REPAYE vs PAYE questions for married folks with dual income
- Consolidating Loans + Parent PLUS Loans
- Any reason not to refinance my student loans?
- Want to contact Navient to tackle these severely behind private loans, but don’t want to be taken advantage of. Advice for what to say when calling?
- Clueless First Generation College Freshman. Send Help.
- Dispute missed payments
- Nevada Loan Refinance Options?
- Life Kit Podcast - What The CARES Act Means For Your Student Loans
- How would I pay off 300k in loans?
| Under $10k for the first time since 2006 Posted: 28 Apr 2020 07:05 AM PDT Disclaimer: I just wanted to celebrate and due to social distancing, this is the only way I know how. I have been aggressively repaying my student loans for 4 years and 11 months and I finally have dropped below $10k, specifically $9758.08. According to my calculations, I will pay them off in November. Last week, my employer guaranteed our paychecks until August 1st and with my little bit in savings and aggressive frugality, I should be able to pay off my lease and my loans if I am unemployed past that date. The plan then would be to move back with my parents (at 32) if I can't find a job, but I'm hopeful that my scientist and medical friends will solve this by then. Stay safe everyone. Edit: I didn't major in English. [link] [comments]  |
| Posted: 28 Apr 2020 06:52 PM PDT I haven't been subbed here long, but in the short time I've been reading I learned enough to a) save myself from a document processing company just in the nick of time b) finally reach out to the company that actually holds my defaulted loans And c) get started on rehabbing my (massive, private grad school) debt. I had no idea about any of this. I spent the last three years believing I was never going to be able to get my life back together after some very big, bad life decisions. Tonight I will sleep without crushing anxiety. I might someday own a home. My son might someday live with me alone instead of with me and my parents, and I might even be able to save up for some of his college. Thank you. [link] [comments]  |
| Posted: 28 Apr 2020 11:42 AM PDT I just made my final payment on my last student loan! I never thought this would happen. I graduated from a private undergrad in 2008 and am now attending an MBA program, paying out of pocket. I am so excited. My recommendation is to refi any high interest loans, then pay off the lowest loans as soon as possible and then make larger payments on the bigger loans. Good luck to everyone! [link] [comments]  |
| Posted: 28 Apr 2020 06:26 PM PDT My dad was an alcoholic and my mom was codependent when I was a kid. I'm the oldest of 4 and I became the 3rd parent when my mom went back to school when I was 10. I took on a lot of adult responsibilities young and looked to college as my way out. The one way I was able to afford college (because my parents didn't save) was for my mom to take out Parent Plus loans with the idea that I'd be able to take them on when I graduated. My final year I filed as an independent student and was eligible for the SEOG grant and the Pell Grant due to being estranged from my emotionally abusive parents. Now that I'm about to graduate my mom thinks that I'll be able to talk to my federal loan company to consolidate all of her Parent PLUS loans into my name. She makes over 120k a year and my dad makes 80k. They have their own home, a motorcycle, a boat, a Cadillac my mom just bought and my Dads truck. She can afford these payments. I have a job offer but only for 40k. I can afford my own federal loans but not her Parent PLUS loans. She doesn't know that she can't force me to pay them. What are my options here? [link] [comments]  |
| Is there anyway I can pay off my student loan debt for the school of my dreams? Posted: 28 Apr 2020 11:51 PM PDT Hi, I'm a 17 year old senior in hughschool who is accepted to Pace University, the only school i've wanted to go to since freshman year. The school normally costs 65-70k. I got a 21,000 scholarship, in addition to a 3.5k room and board scholarship, and an additional 5.8k grant. This brought my yearly total down to $40,920 for Pace. I already plan on working 1-2 jobs during school and getting an apartment with roommates starting sophomore year, which would take my yearly loan down to roughly 25k. I also plan on consolidating/refinancing my loans as soon as possible after college. I cannot take out any parent plus loans, since my parents won't be supporting me through college. Which means a portion of my loans will have to be taken out in private bank loans. This college is the only college for me (trust me I've looked at quite a few) and my major/dream job cannot be done in any other location. I'll be majoring in arts and entertainment management and interning at companies like ESPN, SONY, ABC, GMA, etc in the heart of New York City during my schooling, which will give me a far better chance of securing a job at these companies. However, student loans scare me to no end, and with a few calculators I've used I estimate my interest rate will be 10% with a 10 year payback period. My monthly student loan costs would range anywhere from 1-2.5k. I have no idea how I'll be able to manage this, rent, public transportation, utilities, and still have some room to do something fun every now and again with an entry level job. Is there absolutely anyway I could reasonably pay this off without going bankrupt or do I have to go a cheaper option like community college or a small state school? [link] [comments]  |
| Does anyone know any resources that could help an international student finance college in the US Posted: 28 Apr 2020 11:48 PM PDT I'm currently an international student junior in high school in the US and I'll soon start applying to college, but my family hasn't been doing so well financially back home and I really want to go to school in the US, but tuition for international students is insane. So any advice would be appreciated. Thank you [link] [comments]  |
| Should I pay em off now or closer to the end of the pandemic assistance? Posted: 28 Apr 2020 10:42 PM PDT Would it be wise to wait to pay off my loans, so that it can age a little longer for my credit? Should I wait it out to see if we get any more federal assistance from the government? I have the amount and I have the urge to get it over with, but it would probably be wise to exercise a little more patience, no? [link] [comments]  |
| Is there a big difference with having a co-signer and not having one in terms of an interest rate? Posted: 28 Apr 2020 09:31 PM PDT I am planning to take out a private loan with out a co-signer however, I have seen many warning that let me know that I may not get approved for the loan with out a co-signer. Is there a way I can see the interest rate with and with out a co-signer before I take out the loan? [link] [comments]  |
| Posted: 28 Apr 2020 08:23 PM PDT So basically I love learning and the school environment. Unfortunately the job prospects for healthcare administration are horseshit and pay 10$ an hour where I live. I wish the school system actually prepared us to do anything with our lives. I would really like to get a nursing degree or go to med school. What chances are there of finding a way to finance this if I don't think I'll be able to pay for it myself? [link] [comments]  |
| Is there really any point of stressing student loans? I doubt we’ll ever pay them off Posted: 28 Apr 2020 08:07 PM PDT I just don't see there not being some kind of loan forgiveness program in the future or massive erasure of student debt. The universities and student loan lenders basically scammed half of people who went to college making them think their degree would ever be useful [link] [comments]  |
| Can you wait until the middle of the year to take out student loans? Posted: 28 Apr 2020 03:45 PM PDT Sorry if this is a dumb question, but I've never had to take out student loans before so I don't really know how it works. I'm starting law school in the fall. I have a great scholarship that covers all my tuition and fees, so I just need to worry about rent, utilities, food, etc. If fall semester is online, I'll continue living with my parents, so I won't need any financial aid until spring semester. In this case, can I wait to take out loans until spring, or do I have to do it at the start of the school year? Ideally I want to wait as long as possible to cut down on interest. [link] [comments]  |
| Paid off my student loans last month, how long before credit bounces back? Posted: 28 Apr 2020 03:13 PM PDT I paid off my student loans on the 17th of March. I see this month my credit score went down 8 points. I understand since that was my longest line of credit, the negative impact to my score is the result. I have other forms of credit on my history. I just wanted to know about how long does this negative impact last and does it go up substantially after? [link] [comments]  |
| Help locating a student loan lawyer? Posted: 28 Apr 2020 05:53 PM PDT Hello all! I'll keep the specifics short, but pretty much, I'm trying to find a lawyer that specializes in student loans/disputes. I haven't had luck with other lawyers, or the ones I've found on the good ol' student loan help website thingy (ConsumerAdvocates.org). Essentially, I need help writing a letter to my former university to dispute/ask forgiveness on an alleged debt. I am 100% totally and permanently disabled from my military service, and all my federal student loans have been forgiven. This university is alleging I had a federal student loan for tuition, but didn't complete the semester, and I owe them money for it now. I disagree, but I've argued for a few years to no avail. At this point, I just want to tell them "look, you don't have proof you ever contacted me, and I don't think you did because it certainly didn't get to me. I can't work now, because of my military service. I'm 100% kaput. You're supposed to be the most military friendly university in the state. Work with me, please. Don't send whatever this alleged debt is to collections and hurt me further, if I absolutely have to pay, I'll pay something to you." I'm happy to give achingly long-winded specifics in DM or anything, but I'm just at my wit's end dealing with all this. Anyone know of any lawyers that can help me out with this (pro bono OR paid, as long as their fees aren't astronomical... cause 100% broken as hell so work isn't possible)? Again, haven't had luck with the leads I've tried from ConsumerAdvocates.org, and the "general" lawyers I've used obviously haven't resolved it. [link] [comments]  |
| On PAYE - soon to be spouse on REPAYE. Can I stay in PAYE? Posted: 28 Apr 2020 03:37 PM PDT |
| REPAYE vs PAYE questions for married folks with dual income Posted: 28 Apr 2020 02:55 PM PDT Hey there, I will be starting residency this July and really need some advice in exploring student loan repayment options. I have a spouse and she will be making an income as well which complicates my choice of repayment. Below I'll outline my story just so there's a grasp on what it is I'm looking for: Essentially, I will be 140k (principal 127k) in debt starting residency this july with an average interest rate of 5.9%. Salary for next 4 years starts at 57k then increases by 1k each year. This will most likely quadruple after 4 years to 250k-300k as an attending salary. My wife, whom I just recently married last month, is studying to be a dietitian and she will complete her internship and start full time around July 2021 making around 50k. She has been working part time, made 20k in 2019, and will make around 10k in 2020. She will have about 54k in loans at a 6.0% interest rate by the time she finishes her internship. My long term goal is to work in an opioid treatment program, of which NHSC is providing up to 75k in student relief in exchange for 3 years of working there. Because of this and the fact that my loan isn't too hefty, PSLF isn't a big concern to me. My plan was to do REPAYE in residency to take advantage of the interest subsidy, and refinance after residency to avoid the no cap on monthly payments REPAYE has put in place (I'd like to save up for a house, support family, invest retirement rather than put more money than my liking toward student loans that I can still pay off relatively quickly after refinancing). But.... I've used the loan simulator studentaid.gov provided and it says REPAYE is best option in residency. However, the monthly payments on my loan will spike when accounting for her income when she starts full time in July of 2021. Is REPAYE really the best option for me? Would I be saving money if we filed taxes separately and did PAYE instead? Just not sure which one is better for us in the long run or short term and need some help crunching numbers together. I would greatly appreciate any help at all, I tend to struggle in grasping financial jargon. Thanks. [link] [comments]  |
| Consolidating Loans + Parent PLUS Loans Posted: 28 Apr 2020 10:50 AM PDT Hello all, Current college senior trying to get the loan situation figured out. I currently have 27k in federal loans in my name and then my parents have about 43k in parent PLUS loans. I was wondering if it was possible to consolidate both the federal loans and the PLUS loans into one loan through the government, not a private company (SoFi, etc). Along with this, if we can consolidate them am I still eligible for public loan forgiveness? Getting mixed reviews online, thanks for any help! [link] [comments]  |
| Any reason not to refinance my student loans? Posted: 28 Apr 2020 08:33 AM PDT Hi all, I have graduated with a MSW (Master of Social Work) and had amassed about $45,000 in student loans. Since I've graduated due to bulk payments I've gotten those loans down to around $30,0000. live in Illinois and I have two federal loans, one at 6.6% and one at 6%. I filled out an application on Credible and with my credit score of 780 they offered me a rate of 4.66% Fixed rate through ELFI. According to their calculation over a 10 year period this would save me $3,600.00 and about $5,500 on a 7 year plan. What are the down sides of re-financing? Is there any reason not to jump into this and take advantage of the lower rate? Based on my credit score and state are their better rates out there that me be available to me? Thanks for your help [link] [comments]  |
| Posted: 28 Apr 2020 02:15 PM PDT I have two private loans that Im very behind on (thousands of dollars in late fees) and I do want to call Navient to work something out, but I'm not sure what to say. I don't want to be taken for a ride. Is there a way to get them to give a low monthly payment on each loan? I have 9 other federal loans that are currently on hold because of Coronavirus legislation. [link] [comments]  |
| Clueless First Generation College Freshman. Send Help. Posted: 28 Apr 2020 01:17 PM PDT Hello everyone, I have a few questions and I know some of them may seem silly, but as the title suggests, I am a first generation college student trying to figure things on my own and I have no clue who to ask, so here I am on Reddit! A bit of background information: I am a 21 year old freshmen. I do not qualify for FAFSA/federal loans for personal reasons, so my only option to pay for school is to take out private loans. Anyways. I was accepted to my state's university. When I found out I was accepted, I got really excited and couldn't wait for Fall, so I made a last minute decision to attend summer semester.... which starts next week. I emailed my university asking if it was too late, and they informed me that (University) does not drop classes for non-payment and that instead I will get a $40 late fee and after 5 weeks I will start getting 1% interest and collection fees for every week that passes by. I can still attend my classes even if my payment does not come in time for the deadline. So, I know I messed up by not planning ahead and figuring stuff out. Again, I have no idea how any of this works and I'm completely on my own for this. My question is, when should I take out a loan and how much? Or should I just take out one loan for the entire four years I will be in University? So sorry for the silly questions and sorry for any grammar errors English is my second language! Any help would be appreciated, thank you so much. :) [link] [comments]  |
| Posted: 28 Apr 2020 01:15 PM PDT Hello, My girlfriend had private loans through one company and they were sold to another company but she was never informed of it and she wasn't one to check her credit at the time when all of this happened. Is there anyway to dispute the 7 missed payments due to lack of communication between the buying company? [link] [comments]  |
| Nevada Loan Refinance Options? Posted: 28 Apr 2020 12:30 PM PDT I'm a Nevada resident scoping my options for private loan refinancing, and I've noticed that most lenders won't work with me strictly because of where I live. No one has ever really been able to tell me why - Is there state legislation that prevents this? Is it somehow related to statewide gambling? I'm pretty limited in my options because of this, and would appreciate any insight you can share! [link] [comments]  |
| Life Kit Podcast - What The CARES Act Means For Your Student Loans Posted: 28 Apr 2020 11:39 AM PDT |
| How would I pay off 300k in loans? Posted: 28 Apr 2020 10:53 AM PDT I'm really confused about interest rates and I'm trying to figure out how long it would take me to pay off 300k. My plan is to go to medical school. I currently have ~ $200,000 to put towards undergrad which costs $75,000 a year. Therefore, I would need to take ~$100,000 in total loans between my junior/senior year. I would also probably need to take out ~$200,000 in loans for medical school. I don't qualify for federal loans so almost all of it would be private loans. My plan is to be a psychiatrist which has a median salary of ~$170,000. I won't be making decent money until ~8 years after undergrad and 4 years after med school. I just don't know anything about loans or what my options are to defer payments with private loans or what options there are for interest rates. If anyone could help put it in perspective that would be great. Sorry of this was confusing. Edit: I understand that it's better to go to a cheaper school for undergrad but I'm just interested in figuring out hypothetically how long it would take to pay off. I don't need people telling me it's a bad plan and instead I'm trying to figure out actual outcomes that can help me come to my own conclusions that's it's a bad plan financially. [link] [comments]  |
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