Paid off 32k since last Feb! Student Loans |
- Paid off 32k since last Feb!
- IBR plan loan forgiveness too good to be true?
- Loans for school in Monaco?
- Does anyone know if CASHNet is legit?
- Is there a way to see my payoff date and how it will change?
- Attempting to look into private student loan consolidation
- How to afford graduate school in Spain as a US Citizen?
- With 0% interest being applied, balance isn’t reflecting my payment fully
- Why are private student loan rates going up
- Refund from tax offset
- Enrolling to Graduate School in the fall of 2020- Guidance in securing the best Direct Plus Loan Interest Rate
- Treasury Check
| Posted: 03 May 2020 04:45 AM PDT Hi all, I just want to share exciting news that I have paid off almost 32k(31,500) since Feb 2019. This was a Wells Fargo private loan and I graduated 5/2018. I started working 08/2018 and I saved up about 10k. When my loan payments began in 12/2018, I paid the minimum for 2 months until 02/2018 when I forced myself to make a big 10k payment. The loan was split into one that was 14k+ and the other was ~17k. I paid $8,000 on the 14k one and then 2,000 to the bigger one to get the interest down. From there, I closed the smaller loan 04/2018 and then began on the bigger loan. It was hard but I still live at home, don't shop much, and try to sell things on eBay as I can. I also picked up some babysitting (minimal, maybe made about $500-600) and transcribing for a couple months (maybe $500) but this all went to my loans. Any extra $ I had that I could spend, I put towards loans. I do have a 401k but I only do 3% and I do have a savings account but this is small ($100 a month) and will be until I pay off my debt. I still have about 20k in private loans and 25k in federal. I just refinanced my 20k loans from Sallie Mae from 7-11% interest down to 3.5% interest (used credible and its through pen fed now) so I will start paying this hard. Graduating with 80k of debt while half my counterparts all had school paid for is hard and the fact that I won't be able to buy a house or move out as soon is also hard but I am doing it! I also traveled to Iceland, Denver, Phoenix, Mexico, and Ireland in the past year so I could've paid my loan quicker but I don't want to miss out on experiences and be miserable with just work. I am proud I was able to pay this and travel affordably (orbitz/stalking flights until they were cheap/etc.) [link] [comments]  |
| IBR plan loan forgiveness too good to be true? Posted: 03 May 2020 07:18 PM PDT I'm currently deciding whether to switch from my Income-Based Repayment Plan to one of these new, flashy student loan refinancing companies (Earnest, Laurel Road, SoFi, etc). The principal factor keeping me with the IBR plan is the thought of receiving loan forgiveness after 20 years. That said, watching these horrific interest rates inflate my total debt (my monthly payment covers about 80% of the monthly interest at this point!) is frightening! Is loan forgiveness too good to be true? I've received interest rate quotes from several of the companies listed above, and they're all fairly comparable to one another. The monthly payments through any one of these companies would be much higher than my current monthly payment, but the idea of paying this burdensome debt off in 10 or 15 years with a significantly lower interest rate is appetizing. I'm aware that there are dozens, if not more, factors to consider when making this decision. I'm curious, though, if anyone has had any positive or negative experiences when choosing one over the other. I've done the research, now I'm just looking for some anecdotal evidence to help me move forward. Thanks in advance for any advice or stories! [link] [comments]  |
| Posted: 03 May 2020 11:25 PM PDT I just got accepted to go to school in Monaco. Ideally, I would like to take a student loan out but not many offer loans for US citizens in the country. Do you have any recommendations for private loan companies to go through? The school can't be added through FAFSA. The other option is just to take a standard personal loan, but I would have to start paying immediately versus after graduation. [link] [comments]  |
| Does anyone know if CASHNet is legit? Posted: 03 May 2020 01:58 PM PDT I have a debt with MDC and it gives me the option to pay with CASHNet and I wanted to know if it is legal and if there will be any problem if I pay there. I just don't want to pay additional charges. [link] [comments]  |
| Is there a way to see my payoff date and how it will change? Posted: 03 May 2020 07:03 PM PDT I can see when my loans will be paid off with the minimum payments, I'm looking to find a payoff date calculator to see how increasing my payments will move up my pay off date. [link] [comments]  |
| Attempting to look into private student loan consolidation Posted: 03 May 2020 07:02 PM PDT I'm attempting to look into consolidation for my private loans. I'm just try and keep it to facts, and hope that you guys can help steer me in the right direction. It is a larger amount, which I have since regretted going into, but that's life.
If the only course of action is waiting while still with Navient, then that's just what I have to deal with. Just trying to make a better situation for myself. [link] [comments]  |
| How to afford graduate school in Spain as a US Citizen? Posted: 03 May 2020 10:35 AM PDT I got accepted on a master degree in the Universidad Complutense de Madrid but don't know how to afford my graduate school expenses because universities in Spain doesn't have an agreement for Federal Student Loans and many US Banks doesn't offer private student loans for studying abroad [link] [comments]  |
| With 0% interest being applied, balance isn’t reflecting my payment fully Posted: 03 May 2020 12:22 PM PDT Hello! I am just curious if anyone else has experienced this before or has an explanation for it. I'm still waiting on an email back from the company. So. A few years ago my student loans went into default. Last three years my tax returns were taken and applied to it. Which brought down the balance a lot. So I was grateful (although I really wanted that money in my pocket obv but it was my own wrongdoings that put my loan into default). Fast-forward to Covid-19 times. Interest has been brought down to 0% on loans, etc. Since my balance was so low because of this years tax return, I had the extra money to put towards it right now so I'm able to fully pay it all off while we are in the 0% era. So the last few weeks I have been putting a portion of my money towards it. A few days later the payment applies, and part of it goes to principle and just a little over 15% of the payment applies to "other fees and charges." It is not the interest column because that column is separate and is noted at $0.00. However, my issue comes in with the new debt summary, amount owed. The balance is still always $80-$100 more than it should be. Example: balance is $1000. I pay $600. $510/600 will show under principal. $90/$600 will go to "other fees." So the full $600 was used. But my remaining balance will say $480-$500 instead of the flat $400. (Like I noted I'm only noticing and asking these questions because there is no interest being applied currently and there is no explanation on the site nor a FAQ page.) Now I understand there are fees with every loan. But why is it not included in my full balance that I owe? When you do take any loan out I understand you wind up paying more back than you ever borrowed. I can't help but feel like they're taking way more money then they should right now or I'm just not fully knowledgable on where the rest of my payment goes? Is it taxes? If so, 15% in taxes???? Thanks for reading :) [link] [comments]  |
| Why are private student loan rates going up Posted: 03 May 2020 05:56 AM PDT I keep checking the rates In order to refinance and it's actually going up. I think banks are hesitant to lend due to fear of defaults when people are losing their jobs. [link] [comments]  |
| Posted: 03 May 2020 12:59 PM PDT Has anyone else received their tax refund back after being offset from the 2020 tax year. The date of April 13th was given as far as when it got sent out even though we filed February 26. I'm assuming you got delayed because of the eitc credit we claimed. [link] [comments]  |
| Posted: 03 May 2020 11:40 AM PDT Hello, I'm starting school in the fall of 2020 and am in the process for applying for loans and am writing this with hopes to get some guidance regarding my options. I will be attending from the Fall of 2020 and based on the information I've gathered the program will cost me close $150,000. I've applied for the Direct Unsubsidized Loan and will be borrowing $20,500. To secure additional aid, I will be applying for the Direct Plus Loans. In terms of the Direct Plus Loans, based on the FAFSA website ( https://studentaid.gov/understand-aid/types/loans ), when I tried to apply through the website, the university was listed as one of the university that said they are not participating in Direct Plus Loans. I have two questions I would like ask: 1st. Does that mean I will need to apply for a private student loan? 2nd. Due to the current pandemic, I understand current student loan payments are currently on hold. Would anyone happen to know if future student loans are offered at lower interest rate? or offer any additional benefit? Thank you in advance for your insight. Best, Jay [link] [comments]  |
| Posted: 03 May 2020 11:17 AM PDT Hello! I'm a little confused, I was going through student loan rehab a couple of months ago, I was done with the 5 payments to stop garnishment around February. However, i did my income tax refund March to prevent it from being garnished and ended up having my refund taken away. Yesterday I received a check from the US Department Of Treasury with the amount for my income tax. Could this be them sending back my income? I have not received any other mail and I'm afraid to cash this check illegally. [link] [comments]  |
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