Finally paid off all student loans. Student Loans |
- Finally paid off all student loans.
- Finally paid off student loans but that sense of relief hasn't fallen over me yet, maybe next month when I dont have a payment
- Loan-Shaming In-Laws
- Question about my student loan.
- Should I refinance?
- Credit Score
- Fafsa website not working
- Student loan refi?
- Standard repayment plan or fancy repayment plan? And what about PSLF?
- Do military student loan assistance programs apply to private loans?
- Learned that Salliemae cancelled my autopayment W/O notifying me
- What's the best way to pay my 4 private loans off? (Details inside)
- I’ve made monthly payments that amount to over $80,000 (over the past 8 years) to my school loans, and my total has increased by $33,000. What should I do differently?
- What if your love one is incarcerated?
- Second Bachelor's, Maximum Eligibility Period and Aggregate Loan Limits
- Repayment advice- Drop 10k on my private loans?
Finally paid off all student loans. Posted: 25 May 2020 02:37 PM PDT Finally at zero balance. 19 loans in total, 55k borrowed, 61k paid back for about 6k (11%) in interest. All my rates were between 3-5% but 3k of interest accrued while I was still in school got rolled into principal when I entered repayment (I count this as part of the 6k interest). Saved myself about 8k more in interest by paying off in 3.5 years instead of the standard 10. Every extra cent I had went to paying down principal to the point that I couldn't have afforded an emergency if something had happened. Finally looking forward to not living paycheck to paycheck and move on with my life. Just wanted to share with somebody. A huge burden is lifted off of my shoulders, and it's not like I can go out and celebrate. Not all are as lucky as I am with a valued degree and job safety, so please accept a heartfelt 'good luck' to those still digging their way out! [link] [comments] |
Posted: 25 May 2020 09:04 PM PDT |
Posted: 25 May 2020 07:45 PM PDT I only entered repayment in October; however, I check this sub every day. It is encouraging to see people tackle the life-sucker that is student debt. Unfortunately, we live in a society where good jobs often require a certain degree and there is little to no assistance if you are not the top of your class or born into money. And here begins my experience.... My partner and I attended his family's socially distant backyard Memorial Day dinner. Aside from all of their snide comments bashing science, the most enraging conversation revolved around student loans. *The family had an entire conversation about how they would never enter a relationship with somebody carrying student loan debt.* A lovely quote: "They need to figure that out on their own first." I could feel the color leave my face (or maybe it got super red... lol). My partner was the only person to provide a counter perspective and mention the fact that happiness and love far outweigh student loans. Nobody agreed. It did not even faze them that their future son-in-law may have loans. The privilege of these people... My student loans are a huge source of anxiety. I grew up in a nice area where none of my friends had to take out loans. I only have my partner to discuss this burden and the weight associated with it. I would like to seriously thank you all for posting the inspirational content. [link] [comments] |
Question about my student loan. Posted: 26 May 2020 02:37 AM PDT I've currently got 29k in student loans from (almost) 4 years ago. They've been charging me interest, but not expecting me to pay back the principal investment until a few months from now. I'm stretched super thin as it is, on disability, and haven't been able to work. I'm wondering if there is anything I can do to possibly delay the increase, or at least maybe get it reduced? It was an RBC line of credit for students, not sure if that makes a difference. You can read more about my situation here: https://www.reddit.com/r/Assistance/comments/gqa7bx/on_disability_in_debt_dont_know_what_to_do_not/ [link] [comments] |
Posted: 25 May 2020 06:42 AM PDT I am currently paying off the remaining $175k of my medical school debt at a fixed rate of 3.8%. With extra payments, I'm on pace to have it paid off in 24 more months (May 2022). I've been looking at refinancing with the lowest rates I've found being 1.99% variable and 3% fixed. Since I'll be paying off the loan in 24 months, is it worth it to take a lower variable rate? My loans were refinanced from federal 6.5% loans 2 years ago so I'm not currently eligible for interest free under the CARES Act. [link] [comments] |
Posted: 26 May 2020 12:53 AM PDT Might be on the wrong sub but I am a freshmen in college and have about 8k in student loan so will is the loan effecting my credit score right now or will it not have an effect until i graduate? [link] [comments] |
Posted: 25 May 2020 10:17 PM PDT FAFSA on the Web has encountered an error. We apologize for any inconvenience this may cause. This error keeps popping up for me, and I've done everything the internet told me to do to go around it, but nothings changing it. What am I supposed to do like do they just not want me to apply for aid lol [link] [comments] |
Posted: 25 May 2020 08:55 PM PDT So my GF left her student loam bill on the counter and out of her $331 payment only $12.57 went to the principal the rest went to interest and fees. Thats messed up. Whats the best plan to refi on? She has about 36k loans left [link] [comments] |
Standard repayment plan or fancy repayment plan? And what about PSLF? Posted: 25 May 2020 10:35 AM PDT I currently owe about $42k, including interest. I've done a shit job on repaying over the years and now they're in default. It's time I got my ass (and financial security) in gear. Help!
[link] [comments] |
Do military student loan assistance programs apply to private loans? Posted: 25 May 2020 01:44 PM PDT I am referring specifically to the Navy and need to take out a private loan as I do not qualify for a high enough federal loan. [link] [comments] |
Learned that Salliemae cancelled my autopayment W/O notifying me Posted: 25 May 2020 01:33 PM PDT I had 3 reversed payments which automatically dropped me out from auto-pay. I didn't get a notification and had to re-enroll to a new bank account to get a discount. Just putting it out there for Salliemae new starters. [link] [comments] |
What's the best way to pay my 4 private loans off? (Details inside) Posted: 25 May 2020 07:57 AM PDT I have about 38k across 4 private loans with navient. I live with my parents so I can put almost all of my paychecks towards the loans. I get paid weekly. Below is my loan info. Loan A. - $10,850 @ 10% interest Loan B. - $10,000 @ 8.75 interest Loan C. - $9,800 @ 7.7 interest Loan D. - $7,800 @ 7.2 interest What should my strategy be? I wasn't able to pay for a few months so some fees have accrued. I have also highly considered not paying and either attempting for a settlement or waiting for them to sell the debt to someone else who I can then pay less to settle with. I don't care about my credit, I just don't want to get sued or have my wages garnished, if they can/would even do that. [link] [comments] |
Posted: 25 May 2020 01:29 AM PDT 03/11/20 = $222,801.47 08/06/19 = $222,226.20 04/24/19 = $221,683.34 08/01/18 = $220,051.45 02/27/18 = $220,040.05 11/03/17 = $218,387.80 06/14/17 = $218,463.01 04/27/17 = $218,343.06 11/08/13 = $189,263.57 I graduated May 2012, and started immediate payments upon graduation. I always pay above the minimum payment (on private side) and cant afford more. Currently paying $1,200 a month for private and federal combined. I've already refinanced (and re extended the length) to the lowest interest rate I could and have been on income-based repayment plans from the start (this includes Navient's rate reduction programs) 50% is private 50% is federal. I can't hope for loan forgiveness tax free since that won't apply to all of it. I have a master degree. I started with making $40k a year and now make $130k a year and live in Los Angeles. [link] [comments] |
What if your love one is incarcerated? Posted: 25 May 2020 02:37 AM PDT My brother is incarcerated and wants to work on his credit prior to his release from jail in less than a year. He has student loans showing up on his credit report as defaulted even though he was in good standing prior his incarceration. What is best way to bring the student loans out of default and into deferment; then from deferment to an Income Driven Repayment Plan (IDR)? I'm assuming that since he has no income, his IDR would be $0 per month or very close to that. This should theoretically improve his credit score once the student loan tradelines update from default to paying on time in accordance with the IDR. Any advice is appreciated. Please send me contact info on the organizations to call in order to make this happen. [link] [comments] |
Second Bachelor's, Maximum Eligibility Period and Aggregate Loan Limits Posted: 25 May 2020 03:30 AM PDT I have a bachelor's degree but I am having issues finding employment that pays anything close to livable wages now that the industry I worked in has tanked. I have decided to go back to school and get a second specialized Bachelor's degree with a Direct Transfer Agreement professional program between a local community college and the large state school in my town. My financial aid borrowing history is a little wonky as I started as a non traditional student and was only considered dependent for 2 financial aid years. I finished my first degree a semester early and graduated in 2015. I took a break and found a job, then went on to start a masters program in 2016-spring 2019 but my major professor dropped all of her graduate students, and with that, I lost the job I was vying for. This new program will get me a license and could potentially turn into a finished masters but that is yet undecided. Point being, I borrowed $34,500 for my undergraduate and $17,000 for my unfinished graduate degree (both Stafford Loans, sub and unsub alike). I have been paying regularly so my total owed at this time is $32,000 which I will actually be paying in full next month. Here's my question... I will be paying for the community college tuition out of pocket but, once I transfer to the university program in Fall 2022, the tuition will increase to $24,000 (program total) which exceeds what I will be able to pay out of pocket given the program is an extremely intense and competitive full time program. I know second degrees are not eligible for grants but I'm confused about second degree maximum eligibility periods. Since it's a separate Bachelor's degree/professional program and I finished my first in 3.5 years, does that mean I have 2.5 years left or does the second degree have it's own clock? And, if it's running on the same clock, does the time start with lending periods or time enrolled? Meaning, if I complete two years at the CC and pay out of pocket, would the clock be ticking during that rendering me ineligible for the final two years at the university? As for aggregate loan limits, I saw on the FAFSA website where it said:
It looks like the aggregate loan limit for undergraduate degrees is $57,500 and $138,500 (which includes the $57,500)... Does that mean I can borrow more since I will have paid off all of my loans? This new program is technically a BS but it is for a specific vocational program so I'm not sure if it counts as an undergraduate degree or a professional degree in terms of financial aid. If I can't borrow more from the government, what are my options? I have thought about taking out a private loan as I will be able to pay the balance shortly after the program finishes but I've heard some horror stories about those situations.... Any help is appreciated! [link] [comments] |
Repayment advice- Drop 10k on my private loans? Posted: 25 May 2020 06:39 AM PDT Hi, I am sitting at approx 54K in debt with approx 44k in fed (with 3.76 to 7% interest) and a little less than 10k in private loans (with roughly 5% interest). I currently have 10k in the bank , living at home due to this weird situation, and working with reduced hours (receiving some unemployment). I am only paying 300 dollars a month (min. payment is 166 dollars) toward the private during this time and not putting anything on fed. Now, I was thinking by the end of Sept to completely get rid of this 10k and focusing on only federal loans by then. Would this be a smart idea? Context- I work a pediatric Occupational therapist in a school as a contractor- The end of of the school year ends the first week of June. I will only have some type of unemployment until beginning of July. Ill be making 40-45 an hour for approx 8-16 hours a week for the month of July... have august off and then have my job back in sept whether i work remotely or in person. I am currently applying for other occupational therapy jobs or jobs similar to my field to work more hours and build EF while trying get rid of this debt. Have no car or CC debt [link] [comments] |
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