My fiance's afraid to apply for FAFSA due to her previous college years GPA Student Loans |
- My fiance's afraid to apply for FAFSA due to her previous college years GPA
- Longtime lurker - thank you unknowns for inspiring me!
- Got scammed into a lifetime of debt from an online university.
- Took out a loan from Sallie Mae that I can't pay back and I'm contemplating suicide as the only way out
- Should I take out a loan for law school if it’s not **entirely** necessary?
- I have a large Sallie Mae loan that is going to send me into near-poverty levels coms October.
- Advice for a 22 year old looking to go back to community college
- Why did my credit score drop after paying an amount on my student loans?
- Subsidized/unsubsidized payment allocation
- What's the best private loan company for student loans? Also wondering about other advice to get loans, and other financial aid.
- I started my loan rehabilitation right before the coronavirus bomb dropped and I never got anything back as far as how much my monthly payment will be. Is this normal? Is everything pushed back?
- I need help deciding who to take a private loan with for law school: Discover or Sallie Mae?
- Credit Score went down despite CARES ACT
- Variable rate question
- Advice for anyone with student loans on how to pay them faster or how to get student loan scholarships?
- Leave of absence due to maternity leave and federal student loans?
- Cross post
- Low credit and I am scared I won't be able to take out a loan to pay for senior year of college
- Student Loans Bankruptcy
| My fiance's afraid to apply for FAFSA due to her previous college years GPA Posted: 09 May 2020 04:02 PM PDT My fiance had attended KU for four years a few years ago. In her last year there she battled with depression and loneliness; this made her grades and overall GPA suffer. She ended up leaving KU without graduating. Now that she's ready to go back to school and finish her degree she's afraid to apply for Financial Aid because of something someone she works with told her. This co-worker of hers told her that if she were to apply for FAFSA to attend this new school that they would have to pull her old GPA/transcript from KU and that would affect her GPA at this new school; possibly even making them not accept her. I have never heard anything like this, and I wonder if it's even true. But because she believes it to be true she's trying to get me to apply for loans for her to be able to pay for college. I don't mind this as I want her to succeed and would do anything for her, but I need to know if this is a real thing or if she's been told a lie. Can anyone answer this? And thank you in advance for the help. This whole thing has been a central force for some recent arguments and stress. TL;DR - My fiance thinks if she applies for FAFSA that she may be unable to attend a college based on her old college GPA. [link] [comments]  |
| Longtime lurker - thank you unknowns for inspiring me! Posted: 09 May 2020 08:22 PM PDT Like the post says I'm a longtime lurker of this page. I have seen a number of people in similar situations pay off their debt and today I finally said enough, I can do it. As I'm sure many of you know the CARE act has frozen interest on some student loan payments till October. So my husband and I made a plan, we looked at all the loans that I have, looked at their different interest rates and started to make some payments. This is a golden opportunity to pay off a lot more than I normally would be able to when interest is on. Today I picked the highest interest loan that I had which was $2,976.74 at 6.8% and I (with my husband's help) killed it. I can't explain to you guys the feeling I had being able to cross a loan off and market at $0 owed! (: I'm hoping to keep on this path and continue to knock down my debt as quickly as I can. Thank you all again for the inspiration and hopefully sooner rather than later I'll be making the post that I paid off all of my student loans (: [link] [comments]  |
| Got scammed into a lifetime of debt from an online university. Posted: 10 May 2020 01:09 AM PDT I got manipulated into attending the University of Phoenix when I first moved to the U.S and didn't know much about colleges here. They said they would accredit my undergrad degree that I already had from my country, so I took the opportunity to pursue two masters. Little did I know this university was not credible and I've been trying to pay 100k in student loans for the past 8 years. I can't find a decent job with this degree 10% of monthly income is being taken from me, which is already low since I only get paid minimum wage. I recently heard about how University of Phoenix had been sued for using misleading information to lure people that don't know better into their schools. These loans ruined my credit and my life has been hell trying to pay them off since moving to the U.S. I wanted to know if anyone could offer me any legal or financial advice on paying this off and getting my money back. I heard they were forgiving people who attended, but I am not exactly sure what to do or how that works. I also wanted to know if I could get refunded for the tuition I already paid that was deducted from my tax returns and my monthly income that is being stolen from me. This school targets minorities and people who do not know better, and I fell victim to this trap. I would appreciate any advice (: [link] [comments]  |
| Posted: 09 May 2020 02:58 PM PDT This post isn't a rant, or a diss on Sallie Mae. I'm also not trying to get sympathy from anyone on this sub. I'll try to be as brief as possible. I was an international student in the U.S., I took out a loan to pay for my studies, with the help from a co-signer. Finished college, got my degree, got a few jobs that didn't pay much, then had to come back to my home country because my student visa had expired. The amount due I have to pay to Sallie May for the loan repayment is set between $400 - $500 (the total balance is around $30K). My family has been helping me make the payments, however, it can't go on for much longer. Our financial situation is deteriorating, and coming up with that amount on a monthly basis is near impossible. I've spoken to Sallie Mae on several occasions about this. They've told me these are my options: Forbearance - Of which I only get 12 months, and I've used 9 of those already. Refinance - A procedure for which I'll need my co-signer to cooperate and give over financial information to Sallie Mae, something they're not willing to do. That's pretty much it. Other than that, if the amount isn't paid in full each month, it will affect the credit of my co-signer radically, and there might be debt collectors involved, and I can't let that happen (my co-signer is a relative living in the U.S.). There are documents from Sallie Mae that state that if the loan borrower passes away, under any circumstance, the loan is forgiven and the debt is cancelled. This is basically the only option I have available where neither my co-signer or my family is affected financially. I've spoken directly to Sallie Mae about this and they've confirmed that, once the death certificate is produced, the loan is forgiven. It's a tricky situation but given the circumstances I sincerely don't see any other way out. I've been living under stress, struggling to come up with this amount on a monthly basis, for the better part of the past couple of years. I'm just exhausted. I'm not sure what I expect by posting this here. Certainly not a solution, nor validation. I guess I just needed to take this off my chest. [link] [comments]  |
| Should I take out a loan for law school if it’s not **entirely** necessary? Posted: 09 May 2020 04:28 PM PDT I already have $35,000 in loans from undergrad (which I think won't accrue interest while I'm in school)... My law school scholarship covers most of the tuition... but it leaves around $2500 per semester that I have to come up with myself Along with that $2500 I'm going to need to pay for first semester books.... I just feel like perhaps taking out a loan for this amount isn't a good idea. I'll probably need $5k-$7k in total to avoid taking out a loan (my living expenses are already saved) My mother says I should take out a full $20,500, but she has almost $300,000 in debt from loans. She's a veteran and also says she's never paying them and has managed to find all sorts of loopholes and hasn't paid on her loans for around a decade I don't think I'll be so lucky and I can't entirely rely on her judgment here. My total loan amount would be around $55,000 if I take the loan... but what if I don't get into a high paying position? That's around $595 a month that I still have to pay (if I pay them off in 10 years; depending on interest rates). I would only take the one loan for the entirety of law school, I wouldn't need it for the next two years. Thoughts? I was thinking I would try to get a job for the summer, but covid is making it difficult. Would you hustle all summer or just relax and take the loan? [link] [comments]  |
| I have a large Sallie Mae loan that is going to send me into near-poverty levels coms October. Posted: 09 May 2020 09:23 AM PDT It has a 12% interest rate and currently stands at 53k. I also have my fed sub/unsub loans that total around 30k. I only make 31k a year, and I have no idea how I'm supposed to pay these back (specifically Sallie Mae) efficiently without going broke each month. My rent also totals about $570 a month (not including all the extras like electric, internet, groceries, car & pet insurance, etc.) Does anyone have any tips or advice for how to tackle this? [link] [comments]  |
| Advice for a 22 year old looking to go back to community college Posted: 10 May 2020 01:14 AM PDT My end goal is to get an associates degree and then transfer to a local 4 year university. Going to try and make a long story short: When I graduated high school in 2016 I was in a rough spot at home and I needed out. At the time I had already applied and been accepted to my "dream school," Washington State University. I put the quotations because I didn't really have a good reason to go there. I graduated with a very poor high school GPA of 2.8 but my SAT scores were good. Roughly 2150 out of 2400, I don't remember exactly. The summer after graduating college I sold my car, cut myself off from my parents and moved to Washington on my own accord to attend school. I was extremely underprepared for what I was getting into and finished the first academic year in college (fall 2016/spring 2017) with a 1.0 GPA. Because of this, along with my relationship with them at the time, my parents decided not to resign my FAFSA information for the next school term. After that, I worked odd jobs in eastern Washington and surrounding areas while mostly residing with friends in Washington. During this time I completed 1 trimester of community college online through the local CC in Spokane. I payed for that trimester of CC out of pocket and could not afford to continue going. Fast forward to now. I have found much more discipline and structure to my life. I now live in Seattle. I have a supervisor job at a warehouse, my own car, apartment, etc. I have been really itching to go back to school and give it another shot. I now qualify for In state tuition. This would cost me roughly $10,000/year for tuition, fees, and books. I would prefer to go to school full time and tune my work hours down from 50 a week to 25-30. Because of this I may need a small amount of assistance paying my bills while completing school. Again, this would be my ideal situation. In the recent past I have mended my relationship with my parents, but they are still not keen on signing for my student loans, Understandably so. It is my understanding that I cannot take out my own FAFSA loans until I am 24. Is it possible to pay for all of this with scholarships? Are scholarships open to adults returning to CC? Is getting $10,000 in scholarships unfeasible? Would it be better for me to just stick it out for 2 more years? I would really appreciate some info. Any additional questions I can answer in comments. Thank you. [link] [comments]  |
| Why did my credit score drop after paying an amount on my student loans? Posted: 09 May 2020 04:20 PM PDT I started with 18k in stafford loans. My loans are with great lakes. I started paying in March. I paid $570 in March. When I got the $1,200 stimulus, I put all of it towards my student loans. I decided to do that because I am an essential worker, so I'm still earning an income. I did this for the month of April. I just checked my credit score on Credit Karma and I see that it dropped by 26 points since I made this payment. Why could that be? [link] [comments]  |
| Subsidized/unsubsidized payment allocation Posted: 10 May 2020 01:56 AM PDT So I have some federal loans through Nelnet. 8 groups, interest ranges between 3.7-4.6%, and amounts owed on different groups ranges between $2200-$5200. About $25k total. I don't have a lot of money to be making extra payments right now, but.. I keep hearing that w/interest frozen right now it's good to make any extra payments you can. The subsidized loans only have like $3 in interest on them currently, unsubsidized show to have capitalized interest ranging from $150-$350 on 4 of the groups. I've just been paying by account for 1.5 years because I didn't quite understand (prob still don't). So, if I made a payment right now, 1. would I pay by group and ONLY target the unsubsidized groups since these are generally worse? Or pay the ones with the highest interest rate? Although the interest rates really aren't much different (3.7-4.6%) so idk if it would matter. **I guess I'm wondering if I can pay off any old interest that was capitalizing before interest starts accruing again.. so it's not interest on interest.. if that even makes sense.. I'm a first gen college student so trying to figure all of this out. If it matters, I'm starting grad school in August and will be in deferment again, so the interest on the unsubsidized loans will just start capitalizing while I'm in school again (I think).. so in my mind what's the point of paying it now just for it to go back up?
Any advice would be appreciate. I have seriously got to figure these loans out. Not much I can do to pay them down before I start grad school, but I'll need to know this for after I graduate. [link] [comments]  |
| Posted: 09 May 2020 08:51 PM PDT I feel like I've looked at all of my options, and my list ditch effort to go to school is private loans. I've spent the last two years at community college, I'm graduating next week, and I've been accepted to university as a transfer. I filled out the FAFSA, and I'm getting 6,500. 4,500 subsidized and 2,000 unsubsidized. I am a Phi Theta Kappa member, but according to the school they had to be notified within two weeks of application to get the scholarship. I was accepted into the society about a month and a half afterward...so. I've looked at my options, and even going in-state I would be thousands upon thousands in debt getting a private loan. I want to go to school, but my major is one where to get to where I need to be would be having a masters. I know private student loans aren't ideal, but at this point it's either get them or don't go to school at all- which brings a whole new Disneyland of issues, honestly. Is there any way I can get more federal money? If not, what are the best private loan companies? *Also to note, I have filled out a scholarship form with the university, but I have not heard back. However, that was only two weeks ago, so I'm sure there hasn't been time. I don't know. I don't really expect anything though. [link] [comments]  |
| Posted: 09 May 2020 10:42 AM PDT |
| I need help deciding who to take a private loan with for law school: Discover or Sallie Mae? Posted: 09 May 2020 09:31 PM PDT Hi, This is my first time taking out a loan, so my brain is frazzled from trying to process all of the information I've been reading. From what I've gathered, these two companies are the best/most recommended private loan options for law school. They both have loans catered towards law school (Discover (link) and Sallie Mae (link)) which look... pretty identical to me. (I think the only big difference is that Discover has a 1% cash reward of the loan amount for good grades?) If anyone has any insight to offer based on personal experience with Discover/Sallie Mae loans, that would be greatly(!!!) appreciated. (And before anyone mentions federal loans, I'll let you know now that I am ineligible for those due to personal circumstances.) [link] [comments]  |
| Credit Score went down despite CARES ACT Posted: 09 May 2020 02:22 PM PDT I'm seeing that many people are going through this sudden credit score change. I checked my credit karma account and saw that my score went down more than 50+ points. I called nelnet a month ago and they explained that due to the crisis I'm on forbearance mode. I owed from earlier in the year and wanted to pay the balance due but couldn't. Now I got that remarks are removed from my account from nelnet about deferment due to natural disaster. Still doesn't explain why my score should go drastically down like this. It doesn't make any sense. Call I call nelnet next week and get to the bottom of this or should I call Equifax to dispute? Has anyone got this issue resolved? What should I do? Thanks everyone. [link] [comments]  |
| Posted: 09 May 2020 07:24 PM PDT If given a variable rate at 7% and the variance could be between 4% - 11% can the rate vary outside 4 or 11% in the future? I don't want to end up with a 15% interest rate or something crazy down the road. [link] [comments]  |
| Posted: 09 May 2020 06:47 AM PDT I'm in the pslf program and I'm very thankful about that. I just would like to pay my loans faster if possible. I make 65k a year with 99k in student loans. I work part time as well to make extra month so my salary could increase...I also try to flip stuff and I am working on starting a consulting business... [link] [comments]  |
| Leave of absence due to maternity leave and federal student loans? Posted: 09 May 2020 08:37 AM PDT The state I am considering taking a job in a state that offers the standard 3 months of FMLA. This job permits an unpaid leave of absence for up to a year. My SO is a significantly higher earner than me, so we currently file separately on PAYE with the intent of receiving PSLF. However, since the leave of absence won't count towards PSLF (but the FMLA portion will), would I be approved for forbearance through FedLoan during that time? Or would we need to continue to file separately and have to request my payments decreased while I am not working and take the tax hit? How long does it take to process for these sort of circumstances? Thanks. [link] [comments]  |
| Posted: 09 May 2020 01:18 PM PDT |
| Low credit and I am scared I won't be able to take out a loan to pay for senior year of college Posted: 09 May 2020 12:09 PM PDT I am a student in need of advice for how to get a loan for my last year of college. My father was the cosginer for my previous private loans, but now his credit score has lowered to a score that seems too low for a private loan (654), and we don't think we can take one out with his credit score. We thought maybe we could take it out with my credit score being 688 but I'm not working right now and I don't know where to go to get a private loan with a decent interest rate. All my current loans are fixed and the highest one is 5.7%. I will need a loan of about $24,000 for senior year since my school isn't offereing any more federal loans. I will call my school's financial aid department when the are open on monday to ask what I should do. I am sad and crying about this because I want to finish college but now I don't know how I can pay for it. What should I do? [link] [comments]  |
| Posted: 09 May 2020 06:51 AM PDT |
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