I sold my house and paid off my student loans after 8 years! Student Loans |
- I sold my house and paid off my student loans after 8 years!
- No balance on FedLoans
- Should I choose variable Apr
- Teacher Loan Forgiveness Program
- Overwhelmed, under paid and in debt
- What's the best private student loan with low interest rate (
- Earnest loans website is a joke
- CARES, IBR, and Forgiveness
- Help/Advice with tuition balance owed to past university in WA.
- Everyone in my family has bad credit
- Question From Ignorant Student
- Grad School Loans- Was it Worth It?
- I finally want to take control of my student loans instead of ignoring them. Trying to understand my options.
- Graduate Plus Loan Question
- Federal Perkins Loan Forgiveness
- Sallie Mae seems like my only option.
- Career Change and Need a Loan
- Can I get a TEACH Grant to write my novel?
- Just a dumb question from someone who has 0% idea of how student loans work
- I'm really tempted to cash out a brokerage account while the markets are still kind of high and use that to pay off my student loan at the end of the year.
- Why do lawmakers routinely ignore parent plus debt that students also pay?
- Best Student Lenders ?
- When someone who has $100 k in student loan debt brags about their new car! ����♀️ ?!?!
| I sold my house and paid off my student loans after 8 years! Posted: 15 May 2020 09:54 AM PDT I feel like screaming. Or crying. Happy tears of relief, of course. We sold our home right before the COVID19 stuff got bad in our area. I was able to pay off 25k worth of federal student loans in one transaction. AND IT ALL WENT TO PRINCIPAL due to the forbearance status from the CARESAct. This is all such a huge relief. I had another 15 years estimated left. [link] [comments]  |
| Posted: 15 May 2020 07:52 PM PDT For all intents and purposes it looks like my loans are gone....a FB friend also reported this. Any idea of what might have happened? I'm not seeing deferrals or anything, my last billing statement was in February.. [link] [comments]  |
| Posted: 15 May 2020 10:51 PM PDT Because of everything that's happening, do you think it's best to choose variable apr? It's only for 2020/21 school year. [link] [comments]  |
| Teacher Loan Forgiveness Program Posted: 15 May 2020 06:27 PM PDT I have some questions about the Teacher Loan Forgiveness Program and I was hoping someone here might have gone through the process and have some answers. I know I meet a lot of the criteria, but as the end date moves forward I'm starting to psych myself out. - I have taught for 5 years in a qualifying school - I am highly qualified - I was in TFA my first 2 years - My loans were made before the end of my 5 years I am concerned that being enrolled in TFA for the first two years pulls me out of the running for Teacher Loan Forgiveness, but I'm not sure. Has anyone else been in a similar situation and can offer me advice? Thank you so much in advance! [link] [comments]  |
| Overwhelmed, under paid and in debt Posted: 15 May 2020 10:57 PM PDT I am getting ready to graduate with my master's degree. I have 200k in student loan debt and 40k in auto loans (I have one for myself and I co-signed for my husband to get a car). I recently realized that I'll never be able to apply for housing loans due to my debt to income ratio and my horrible credit. This crushed me as I want to own a home. I am working on building my credit however minimum student loan payments are unreasonable. We live below our means and still have no idea how I'll pay these loans off. I would qualify for forgiveness programs except that you have to make monthly payments in full. I can't afford the monthly payments based on my salary. What can I do? Anyone had similar experiences and made it out? [link] [comments]  |
| What's the best private student loan with low interest rate ( Posted: 15 May 2020 10:52 PM PDT |
| Earnest loans website is a joke Posted: 15 May 2020 06:26 PM PDT The Earnest site is incredibly limited in functionality. Don't bother with them. Find a cheaper credit union around. They have a barebones crew for support and as I said, the website is infuriatingly difficult to make any changes or adjustments to your account. [link] [comments]  |
| Posted: 15 May 2020 10:38 AM PDT I'm sure this has been asked but I can't find anything. I know that during this forbearance they are still counting waived monthly payments as payments toward the 120 for loan forgiveness under PSLF. Does this also apply for the rest of us who are just doing regular loan forgiveness (PAYE for 20 years) Thanks! [link] [comments]  |
| Help/Advice with tuition balance owed to past university in WA. Posted: 15 May 2020 09:50 PM PDT A few months back I had to separate with a state university here in WA. Not being my first rodeo, I thought I had timed my withdrawal correctly. I was on FA, didn't take any extra disbursements etc. Only what I needed to cover my program costs. Lived off-campus etc. etc. However, the school has been sending me letters showing that I owe a balance. I've given them financial proof that I am A) currently unemployed and B) indefinitely financially unable to pay this balance back to them for tuition. I was able to get them to give me a payment plan that I can afford right now just to keep them from sending the balance to collections; however, they compound the interest monthly, regardless if I am in active repayment and there is no interest-freeze on this amount in regards to the current pandemic. It appears to me that the school gave my federal loans for the semester back to the DOEd, and then are coming after me for the balance. They have been very aggressive with their letters to send the balance to collections. Of course I have kept up with the payment plans, but the balance is growing faster than the payment I am able to make. Had this money fallen under FAFSA/FA student loan regulation, my current financial status would be IBR and I wouldn't be concerned. When I asked the student accounts office why this was the case (the interest continuing to accrue and why there is zero forgiveness for needy/indigent students) I was told that "The state requires that they do it." This was all the information on the subject that was provided. Since the state requires that they do it, is there anyone at the state level at a state office I can call and get some more information on this? Can anyone shed some light on this, or has anyone experienced a similar situation? Thank you all! [link] [comments]  |
| Everyone in my family has bad credit Posted: 15 May 2020 09:35 PM PDT Hi everyone! I just started building credit and don't have a score that will allow me to take out loans without a cosigner. Literally every single one of my family members got denied. I'm talking parents, grandparents, aunts, uncles, even cousins my age all got denied. I am more than willing to take out loans, but no one will accept me with my credit alone. Help :( [link] [comments]  |
| Question From Ignorant Student Posted: 15 May 2020 09:23 PM PDT Hello. I am getting a private student loan, which I need to cover the living expenses for the Summer. I didn't necessarily intend on taking any courses during the Summer, though. When I went to request the loan and it was sent to my university, they asked me to change it (because I wasn't enrolled for Summer term). I'm not sure for what time I am supposed to request the loan for, but I require the money for the Summer. What happens if I choose a previous semester? Is that only possible if I owed the university money? [link] [comments]  |
| Grad School Loans- Was it Worth It? Posted: 15 May 2020 08:19 PM PDT For those with grad student debt, what is your advice for someone taking out loans? I'm trying my best to get a GA position at school, but with the pandemic and admin not responding to my emails or phone calls about my application...I'm looking at taking out a 6500 dollar loan for next semester of grad school and 6500 for spring semester. After that I have one more semester, so that's 21,000 (factoring an extra 500 for textbooks every semester). I'm terrified of debt. I paid out of pocket for my first semester of grad school. I kinda up and quit my job and enrolled rather quickly, hence me not having secured a GA position. Average salary for positions in my field with my education & experience is around $40,000-60,000 a year. Anyone graduate with around 20,000 to 25,000 dollars in debt and paid it off? How long did it take for you to pay it off? With a 6.08% interest rate, how the hell do you pay it off?? Should I just take two jobs, continue to beg for a GA position? [link] [comments]  |
| Posted: 15 May 2020 02:37 PM PDT A quick backstory may help. Out of highschool, excited for newly built private art school (Art Institute). School and retail job full time. Mother agreed to help pay along the way, but she didn't help and I could fully pay and the quality of school/teaching was lacking. I decided to quit the school. I am currently 32, working 40hrs, up to 60 with overtime when available. Making $37.5k base yearly, but did last year 44k because of overtime. I still continue to get minimal raises every 6months. I'm renting a room ($600 monthly) till the end of the year with a sister that recently moved back to California. At the end of the month I have 2k. $600 for rent $350car payment which will be paid off at end of the year, then about $500 from Garnishments, then the normal food/gas/internet which leaves me with a few hundred at the end of the month. What I know: My loans were originally through Sally Mae, then to Navient and now Ascendium Education. I lacked in payments, in which resulted in a letter stating my paychecks will be garnished 15%. This was back around March 2018. Each bi-monthly check gets around 200-300 garnished depending on my overtime. Current amount: $27,039 7 loans in total. Four are Subsidized and 3 are Unsubsidized. I don't know what the difference is. Also they are labeled as 'FFELP Stafford' if that helps. The four subsidized at 6.80% interest. $1,854 , $4,326 , $1,236 and $3,245. The three unsubsidized at 6.80% interest. $2,246 , $6,849 and $7,283. Ascendium Education website lets me see my loans and info from StudentAid.gov. They are all labeled as in "DEFAULT". I assume this is because of the recent CARES ACT? Should I call and have them go ahead and continue the garnishments? I am currently saving what they would normally take out. Does this hurt my Credit Score? Would Direct Consolidation, income driven or something else be good to look into?? I have no kids and not married. I claim 0 on my W4. I currently have 4k in my savings with a 3k work bonus coming this July. This has been hurting my credit and would love to recover! The garnishments are manageable, but I feel as if it's going to take too long to pay off and recover from. Thanks to everyone for their time and I will try my best to give any more info that could help either of us. [link] [comments]  |
| Posted: 15 May 2020 06:14 PM PDT Hello, I recently applied for the graduate plus loan for the max amount of cost of attendance. Because of my credit history I didn't qualify but I got an endorser for me and was approved. I talked to my school and they said they would process the loan in June. How likely am I to be able to receive aid through the grad plus loan? This is my first time taking loans out so I'm kinda worried I won't be able too even though I got my endorser approved. Reason for asking is because the school is on the other side of the country and I need to find an apartment to lease ASAP. But I'm worried if I don't get the loan i won't be able to attend so I wanna wait to find an apartment until I get verification that I'll get the loan from my school. Sorry for the question and thanks for the help. [link] [comments]  |
| Federal Perkins Loan Forgiveness Posted: 15 May 2020 12:15 PM PDT Hello, I have a federal perkins loan and I am looking at applying for forgiveness of this loan. I work in public health, but there's nothing on the application that quite matches what I do. When I spoke to my loan provider they said you should apply for forgiveness for the perkins loan, you never know (I got the impression the lady was just guessing that I would get accepted).. On the application there is no box that matches what I do. So, has anyone had any success with applying for this forgiveness when working in public health or when applying not having any of those check mark boxes not match exactly whats on the application? My loan is now through UAS echo. I did send them an email asking if it would get denied if I couldn't check one of the employment boxes, but it was a very vague answer. Thank you. [link] [comments]  |
| Sallie Mae seems like my only option. Posted: 15 May 2020 03:13 PM PDT I'm trying to go to a welding institution called Georgia trade school. It costs 9500 dollars (paid 500 for deposit/tools already). I have nearly all of the tuition but due to an abrupt moving situation and the uncertainty of the future of covid-19 I would like to keep some money in savings. The school states: "Georgia Trade School is not an accredited instituion; we are an educational instituion by the American Welding Society and are licensed by the Georgia Non-Public Education Commission for Post Secondary Education." I trust the facility. It gotten some recognition from the community and has good reviews from former students. A lot of places won't lend money due it not being an accredited institution. I have looked into personal loans which have RIDICULOUSLY high rates. Do you guys know of any other options? Any advice will be greatly appreciated. [link] [comments]  |
| Posted: 15 May 2020 08:38 AM PDT Hello, Im going into a professional certification program for a career change, and I am going to need a loan ($15,000) for it. Im looking at Sallie Mae for a Private Loan as the university doesnt take federal loans for certification programs. My question is, and im sorry if its dumb, I havent taken a loan out in a while, If I pay back the loan with x2 or x3 the amount of my monthly payments do the excess go against the principal balance and lower my overall interest being paid? For example I selected the variable interest rate loan, that allows me to pay $25 a month while in school, and the documentation shows that i can prepay my loan with no penalties, but it doesnt say anywhere that it would reduce the overall interest charges over the life of the loan. The loan amount would be for $15,000 and the overall interest charges would be $11,300. So if I end up paying back the loan in three or four years instead of the 10 years , i would be saving a considerable amount on interest right? Or does Sallie Mae not do this and I would still end up having to pay the full interest charges regardless of how fast? Thank you for your help in advance. [link] [comments]  |
| Can I get a TEACH Grant to write my novel? Posted: 15 May 2020 02:04 PM PDT Not really, I just want to know if Language Arts / English IS a critical need for my state, can I get a TEACH Grant for an MFA in Creative Writing? [link] [comments]  |
| Just a dumb question from someone who has 0% idea of how student loans work Posted: 15 May 2020 10:00 AM PDT I was thinking, if you get a loan for a house, the bank can take it, if you get a loan for a degree, what is the bank going to do? Lobotomize you for your knowledge? I guess they have their other options... Butt... What if you are in a different country? So, what stops someone in the US from taking a student loan, getting a degree with that money and they leaving the country to work somewhere else and let the debt expire or the crime prescribe? Just a dumb thought from someone who doesn't know, I don't pretend to do this, I dont study in the US, etc... [link] [comments]  |
| Posted: 15 May 2020 01:32 PM PDT I'm finishing my second bachelor's at the end of November. Currently, I have $11800 in federal loans. I plan to take out another $1400 in subsidized since I won't have to pay interest over the next six months while being in school. With this in mind I'll have a total of $13200 in federal loans with interest rates between 3% and 4.5%. I have two investments accounts one with 27k is my roth IRA. The other is my brokerage with 7k. With the markets dipping, I'm very tempted to sell my brokerage account stocks and put them in a HYSA until December and than pay off the student loan balance. I have 69k in cash but I'm going to be paying another $1400 toward my tuition in cash June 1st and I'm also planning on buying a house sometime this year. Around 35k will be my down payment and the the other 35k with be my efund/money to furnish my home. I'm moving out for the first time so I'm going to need basic things to get me started. I plan to fund my house/efund back up to 70k and than focus on the student loans. The plan with the 7k is to throw it into a HYSA for the rest of the year, plus add to it until it gets to the 13.2k balance and than pay the student loans off right around the time the 0% interest expires. I'm going to stop contributing to investments except my Roth IRA. That will still be $230 a paycheck (paid biweekly). My job is very secure but I don't get any match at work in a 401k so I just want to take advantage of the retirement options open to me. The 0% interest student loan period seems like a great opportunity I don't want to waste. I used to think I'd be more concerned about investing the the appeal of being debt free at the end of the year (except a potential mortgage) is pretty awesome. Is this stupid? I don't expect the markets to stay this high and even if they do continue to go up it's not like I'm not already invested or continue to invest. I make 47k a year but I've been living at home so that's why I've been able to save up so much money. [link] [comments]  |
| Why do lawmakers routinely ignore parent plus debt that students also pay? Posted: 15 May 2020 01:18 PM PDT I'm reading up on the newest changes of the HEROES Act and while it's great that they're going to bat for students that are "economically distressed", but I have a serious issue with the fact that these articles come out all the time claiming that students carry an average of only $30k. This is just utter BS because so many students, myself included, pay all of my parent plus loans that frankly, I should be equally signed on to so I can get the benefit. Why is it that lawmakers and financial data routinely ignores parent plus debt as if this is debt that students just ignore? Obviously, there are parents that pay their plus loan on their own, but most of the students I know are paying both their loans and parent plus. Maybe this is more of a rant post but I'm just so tired of this extra debt (which is considerably more than my student debt alone) being ignored. What are your thoughts? [link] [comments]  |
| Posted: 15 May 2020 12:57 PM PDT The title basically explains it all. I was wondering if there are any preferable student lenders with good fixed rates for student loans. I am on my last year of undergrad ( US). I have a good credit score and parents as well. I haven't received anything from the government yet , but due to certain circumstances will not have access until July to apply for loans when my first school payment is in August. I am worried about cutting the corners to close. Should I also just wait or apply now ? Thanks in advance. [link] [comments]  |
| When someone who has $100 k in student loan debt brags about their new car! ����♀️ ?!?! Posted: 15 May 2020 04:37 PM PDT |
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