Should I use my unemployment money to pay my loans? Student Loans |
- Should I use my unemployment money to pay my loans?
- current student loan rate question
- What would you do with a 200k inheritance?
- Exit counseling required every year?
- [Heartland ECSI] Submitting forms online?
- Private Student Loans
- Refinancing Rates
- Can you only get grants from FAFSA without getting the loans?
- can someone help me calculate the cost of my law school debt?
- Pandemic Pay off: Should I get rid of Navient debt or keep saving?
- Entrance counseling question: independent student, what to put for "family contributions"?
- Clarification on Grad PLUS and Aggregate Loan Limits
- Best repayment plan to be on to buy/ refi home?
- Negotiating with Navient
- I have ONLY 2k worth of student loans.
- 1st loan Parents questions
- Loan Servicer Consolidating Your Federal Loans While Still In School Without Your Knowledge?
| Should I use my unemployment money to pay my loans? Posted: 23 May 2020 09:39 PM PDT My only expenses I have is groceries, gas and phone bill since I live with family. I'm thinking of taking advantage of the 0% interest rate and forbearance due to COVID. I won't use all my money just a portion. Also do you think I should put a bit of what I get in my savings for grad school? [link] [comments]  |
| current student loan rate question Posted: 23 May 2020 03:22 PM PDT Hey guys! My brother just got into grad school and we were looking at his financial aid award package for 2020-2021. He's got an offer consisting of direct un-subsidized and graduate plus loans that will cover school. Since going through my own battle with loan balances and accruing interest rapidly, I read into the federal loan details and noticed that the direct loans carry an interest rate of 6.08% and the grad plus loans at 7.08% but they are only effective until July 1st, 2020. With everything happening with the economy currently, surely the federal loan rates will decrease on July 2nd, right? Would it make sense to wait until after July 1st to see what the new rate will be given the current financial state of the country? Or accept the award for both fall and spring now and take the rates reflective of the economy in 2019? I'm not sure if the award he received would update with the new rates after July 1 or if waiting is even an option without them rescinding his offer? tldr: My brother is offered student loans with interest rates reflective of 2019 economy (6-7%) and he/we are trying to decide how to proceed with a rate change in July. [link] [comments]  |
| What would you do with a 200k inheritance? Posted: 23 May 2020 06:22 PM PDT On a throwaway account, but my father recently passed away and left my sister and I with about a 200k inheritance each. Around 100k is liquid from bank accounts + life insurance policy, and another 100k will be from a 401k (will be consulting a CPA for tax considerations on this one). I have around 90k in private loans (with laurel road) and 20k in federal loans. I also have just shy of 8k on my car loan. My plan is to pay off my private loan and car loan, and aggressively pay off the federal loan within 2 years. I'm 28 and a high earner (97K) in a medium-HCOL area. Would anyone do anything differently with the money? I think it is a no brainer to free myself from the shackles of student loan debt, but I am curious. [link] [comments]  |
| Exit counseling required every year? Posted: 23 May 2020 11:40 PM PDT I recieved an email and a letter in the mail stating that I needed to complete exit counseling or face consequences for not paying, even my school website has put a hold on my account until I complete exit counseling. However, I was under the impression that you only competed exit counseling when you dropped out or graduated college, and I'm only finishing my freshman year, I still have at least one more year of school! I'm very worried and not getting any response from my school since they are mostly closed due to the virus. [link] [comments]  |
| [Heartland ECSI] Submitting forms online? Posted: 23 May 2020 04:24 PM PDT Okay, so I'm trying to submit my unemployment deferments forms online for Heartland ECSI and I can't seem to find out where to do so? I know I've done it before, it's just been a while. Normally I'd wait and just mail it in or something, but getting stuff printed right now is a hassle & I got a bit blindsided with a late payment notice after thinking my loans through them would've gotten automatically deferred like my other loans. Any help would be appreciated! [link] [comments]  |
| Posted: 23 May 2020 11:38 PM PDT To those of you who take private student loans, where do you take them from/why? I currently have 2 student loans with Discover and am looking for suggestions/other options. [link] [comments]  |
| Posted: 23 May 2020 10:44 AM PDT I currently have a 4.51% refinanced private loan $40,000 ($500 a month) initially 10 year loan with around 8.5 years left, but have been paying more aggressively. I'm looking at new refi rates and have a 2.99% variable offer 5 year from penfed which makes my payment manageably at $731 a month for me. There is also a 10 year 4.05% fixed rate through elfi which I can just pay what I'm paying now to not actually take 10 years to pay off. With rates looking to stay low for 4 years or so, Would it be better to go for the low variable rate as it's a short 5 year term and likely to pay off over 4 years? Or better to have the stability of the 4.05 fixed? Any feedback would be great [link] [comments]  |
| Can you only get grants from FAFSA without getting the loans? Posted: 23 May 2020 12:16 PM PDT Can you only get grants from FAFSA without getting the loans? [link] [comments]  |
| can someone help me calculate the cost of my law school debt? Posted: 23 May 2020 05:54 PM PDT hey guys. i have gotten into law school and i am trying to decide if the debt is worth it or not but i can't seem to get a coherent answer. i've put my numbers into various calculators and i've gotten numbers from 50k to 100k debt and i'm confused and i feel like i need a human to help me out. i don't know if law school is entirely right for me but basically, i'm just tryna find the accurate cost and see if it's worth it. here's what i know so far:
-additionally, i have a medical condition that typically costs me around $500/600 a month without insurance. however insurance is required at my law school. i haven't had insurance since i was 18 so i don't really know how it works. i know there is a student plan but that's all how much would i have in debt?? after the numbers are crunched, is law school even worth it? if anyone has any other general advice please feel free to tell me i am very grateful for any feedback. thank you! edit: ive left out very vital information!! its 10k once a year for 3 years. so in total 30k for all of the tuition. its conditional, but the condition is that i am within the top 3/4th of law students. Which I don't think THAT hard to achieve. [link] [comments]  |
| Pandemic Pay off: Should I get rid of Navient debt or keep saving? Posted: 23 May 2020 05:11 AM PDT Although this pandemic has meant financial ruin for some it has actually improved my situation financially because I am no longer spending on childcare and my federal loans are suspended. I am also lucky enough that my company has guaranteed there will be no firings/pay-cuts through the end of the year, so I'm not concerned about losing my job. Because of the additional savings, I've been able to reach my emergency fund goal of 6 months of expenses (roughly 25k). I owe Navient about half that for my final college student loan (variable interest rate, currently 4.25%). Should I halve my emergency fund and pay this off today? Then bank on rebuilding savings over the next 6 months?? I love the security of the emergency fund (especially with two kids) but would be nice to close out that debt. Help! [link] [comments]  |
| Entrance counseling question: independent student, what to put for "family contributions"? Posted: 23 May 2020 01:38 PM PDT So as a grad student I'm automatically considered independent, but I know my parents are going to help out with at least half of my rent. If I put a number in "expected parental contributions" will I get my "independent" status taken away? or if i put $0, there's a chance I could get in trouble right? I'm kind of stuck between a rock and a hard place. Anyone know? [link] [comments]  |
| Clarification on Grad PLUS and Aggregate Loan Limits Posted: 23 May 2020 03:38 AM PDT Hello, I've read conflicting information and if you have insights would appreciate it. Does the lifetime aggregate limit $138,500 include Grad PLUS loans? [link] [comments]  |
| Best repayment plan to be on to buy/ refi home? Posted: 23 May 2020 08:17 AM PDT I would like to refinance our home. The problem I've been running into is that I'm on an IBR plan which literally puts my monthly payment at 0. The brokers I have spoken with said they need to assume I am paying 1% of the loan monthly which for me, kills my DTI ratio. SO... if I was on a different repayment plan, one that put my payment at anything more then 0, would the lenders go with that? Or would they still assume the 1%? Thanks for any help! [link] [comments]  |
| Posted: 23 May 2020 02:01 PM PDT Has anyone been successful in negotiating with Navient. I have 3450 left but im curious to see if they'll take 2k cash. [link] [comments]  |
| I have ONLY 2k worth of student loans. Posted: 23 May 2020 04:12 PM PDT Not understanding how I'm supposed to survive the future due to all of the current circumstances without just literally drowning myself in debt. I've been doing good so far but my savings is running out honestly and who else do I talk to this about? What are y'all doing? What should I do? Lol TIA [link] [comments]  |
| Posted: 23 May 2020 04:29 AM PDT What are the pro vs cons of federal vs private loans. Seems like Federal loans have large origination fees but private does not. We plan about $200k in student loans.
While we can pay full tuition of our child, we want him to have skin in the game to ensure making wise choices, so we want to take loans. [link] [comments]  |
| Loan Servicer Consolidating Your Federal Loans While Still In School Without Your Knowledge? Posted: 23 May 2020 03:45 AM PDT I'm trying to help my cousin with his federal student loan situation. We got copies of his promissory notes and it turns out that 2 prior federal student loans got consolidated while he was still in school. And once consolidated, they immediately went into repayment status even though he was still in school and should have been eligible for in-school deferment. He had no idea they even got consolidated. It also means that ~4 years of interest began accruing on what would have would been a subsidized loan prior to consolidation. Has anyone else experienced this? Where your loans were consolidated without your knowledge while you were in school? I'm trying to figure out if this is legal and what recourse we might have. [link] [comments]  |
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