Woes of customer service for a loan servicer Student Loans |
- Woes of customer service for a loan servicer
- Astronomical Parent Plus Loan
- Best way to pay off my loans
- Paying off student loan accounts, leaving $1 remaining
- No interest extension?
- I have a freshman about to enter college - Private loans?
- Loan Rehab - Collection Agency is TERRIBLE - is it possible to switch agencies?
- Student Loan - Parent took out Direct PLUS Loan
- I have a couple questions about credible?
- Should I take unsubsidized loans or take private loans?
- Looking for advice PSLF
- Refinancing Navient During COVID & Recently Got Personal Loan
- My financial advisor doesn’t trust PLSF
- Can you take a loan out for a second masters degree ?
- Repaying FAFSA?
- Is Sallie Mae Worth It?
- 10y or 15y refinancing
- Docinaid?
- Which student loan company should I go with?
- Anyone have experience with National Collegiate Trust? (cross posted)
- Grad Plus Disbursement Question
- Wait on paying off loans
| Woes of customer service for a loan servicer Posted: 28 May 2020 03:07 PM PDT People are abnormally hostile on the phone today. It's like we trying to take their money during a pandemic or something because their loans aren't covered by the CARES Act [link] [comments]  |
| Posted: 29 May 2020 12:47 AM PDT As an 18 year old living in a toxic home environment, I was dying to go to undergrad out of state without any understanding of the loans I was getting myself and my parents into. Unfortunately my parents agreed to parent plus loans having zero understanding of the costs and now my mother owes $46,000 and my father owes $140,000 as both have been accruing interest. (I'm currently 26 and in graduate school, slowly working on my $55,000 debt total). Both parent loans are currently in deferment until 2023. I'm unsure of their incomes but we are in no way wealthy. We've always been lower end working class. I worry that my parents are going to be in a horrible position at the end of the deferment period and I feel incredibly guilty. While it seems my mother's loan isn't so bad, my dad's seems astronomical and I have no idea where to begin to help them. Unfortunately neither parent has taken any initiative on attacking this debt themselves. While I understand these debts are their responsibility in the eyes of the law, I feel horrible that I've put them in this position. I truly had no idea what I was getting into when I applied for these loans. Any advice would be greatly appreciated. [link] [comments]  |
| Posted: 28 May 2020 01:22 PM PDT Best way to pay off student loans Background: I have absolutely no idea what the best way to pay off my loans is. I just recently graduated. I have a job paying 75k starting in July. I owe about 20k in my name from the government and my mother owes about 50k from parent plus loans (which I will be paying). What is the best way to pay off my loans. Should I just pay my moms monthly payments or should I refinance everything in my name? Any tips or advice would be great ! Thanks guys [link] [comments]  |
| Paying off student loan accounts, leaving $1 remaining Posted: 28 May 2020 06:28 PM PDT Is it possible to pay off my loans almost fully with $1 remaining to avoid adversely impacting my FICO credit score by closing the account? Is it even worth it or should I just take the credit hit from having no accounts open? [link] [comments]  |
| Posted: 28 May 2020 07:12 PM PDT What is the probability that the no interest on federal student loans will be extended past September 30th? [link] [comments]  |
| I have a freshman about to enter college - Private loans? Posted: 28 May 2020 04:39 PM PDT My daughter is starting a biology pre-med undergrad program this fall. She wants to specialize in pathology. I make just enough that she doesn't qualify for grants, but of course she is borrowing the max for federal loans as a dependent student. The remaining balance after federal loans is around $18k. I would prefer if she borrow a private loan under her own name with me as a cosigner, rather than take a Parent Plus loan. I have excellent credit. I've been looking at Earnest and SoFi so far but of course I'm looking for recommendations. I want to avoid loan payments while my daughter is in school. I understand this will increase the cost of borrowing and extend the life of the loan. The advice I'm seeing basically says find the lender with the lowest rate and read the fine print. Is a variable or fixed rate recommended? Fixed rate seems safer but variable rates seem attractive, seeing that the LIBOR has been well under the current fixed rate for the past 10 years. Any other advice? Thanks in advance. [link] [comments]  |
| Loan Rehab - Collection Agency is TERRIBLE - is it possible to switch agencies? Posted: 28 May 2020 09:17 AM PDT The TL:DR is basically the title. My loan is now in rehab with Bass and Associates. And they have messed things up EVERY step of the way. The people on the phone can barely communicate in full, coherent sentences. I get it, collections isn't a job that gathers the best of the best so I try to overlook the terrible communication skills. But they can't seem to do their job. February - I tried to set up rehab. First call I made to set up rehab - agent got all my information wrong (despite my repeating everything three times and spelling everything and having him repeat back). I hung up - this was pointless. Second call - agent got half my information right. Still couldn't manage to get email and zip code correct. Hung up. Third call - finally, basic info seems good enough. Given a monthly amount, made a payment of $250, never got an email receipt (because they couldn't manage to correctly my email address), was told that rehab agreement would be sent for me to sign. In the meantime I uploaded the forms they asked for. Rehab agreement never came. Fourth call - told me they sent agreement. Never came. Fifth call - told me they would send agreement. This agent managed to correct my email address, hooray! She told me my payment should be $50 less than the first agent had me pay. GREAT! So now I would be paying $200. Awesome. Finally got the rehab agreement. Signed and faxed within 30 minutes of the mail being delivered. Two days later- Sixth call - called to verify that they received my fax and everything was good to go. Was told that they received it but it was too late, since they said I waited too long to send it back. I told them I faxed the same day I received it and they were the ones that never sent it but they said I violated the agreement. And I'd have to start all over again. They said they'd send a new one and also said my payment would be $260 now. $10 more than the first guy said and $60 more than the next amount I was told. I paid the $10 difference, they said they'd redate the paperwork and apply the $10 to first payment. Said they would send a new rehab agreement for me to sign fax. Seventh call was directly to Dept of Ed Default Resolution Group explaining the situation. They sent me a rehab form to send to Bass. Got it in three days. Signed, faxed back to bass. (Still to this day have NEVER gotten the new rehab form directly from Bass that they said they were sending). Eighth call - confirmed with Bass and Associates they received it the fax and everything was ok. They assured me everything was fine. Ninth call - want to make next monthly payment. Systems down. Tenth call - want to make payment, systems still down the next day. Eleventh call - want to make payment, guy pulls up my account, says "that's strange". I ask what's strange and says "something on your account doesn't look right. Never saw that before". Won't tell me what's weird. I make a payment. Get an emailed receipt. Amazing. Twelfth call was yesterday to make my payment. Girl wants me to give her my debit card info verbally. I say no. It always has taken me to a non-recorded line to enter my info. Why is this different? I'm not giving you that information. She says "umhhhh....." . I hang up. Thirteenth call back yesterday make my payment and I ask for them to email me a receipt. Agent says they're not able to email receipts. WHAAAATTTT???????? The payment is still pending in my bank account and doesn't reflect on the myeddebt site. But I'm assuming that will happen today. I just can't deal with these morons anymore. I'm not even sure these payments are actually part of a rehab since it's obvious Bass and Associates don't know what they're doing. How can I switch collection agencies? Is that allowed? If I can't switch, how can I make sure these people actually do their job? [link] [comments]  |
| Student Loan - Parent took out Direct PLUS Loan Posted: 28 May 2020 09:22 AM PDT So my parent took out a Direct PLUS Loan without my knowledge a couple years ago (note: abusive parent who has a history of abusing my info and finances that I'm fighting on other fronts - cut them off completely). I pulled up the application and it has all of her information, name, address, SSN...but it's on MY credit and name somehow? For some reason the loan says my name is the "Borrower" and has my SSN but ALL of the info is that of my parent on the application? Is this normal? When I pull up my credit score that loan is listed as one of my debts? What can I do? Options? I'm already fighting other debts they've taken out in my name and SSN, and graduating college this year means that loan won't be deferred anymore, and I'd really rather not have extra debt to struggle with in this economy that I never agreed to. And yes, I've already changed security on all my banking and credit, someone else recommended requesting a change of my SSN to prevent more financial fraud but I don't even know how to go about that. NOTE: idk if it's allowed but I also cross-posted to r/personalfinance cuz the more knowledge the better! TIA! EDIT: I double checked bc it's in a weird format but my parent put THEIR name and info as the "Student" and MY name and info as the "Borrower"....now I'm really not sure what to do [link] [comments]  |
| I have a couple questions about credible? Posted: 28 May 2020 05:21 PM PDT The student loan refi options... I wanted to know if the loan money exceeds my student loan debt can I use it to refinance other debt as well since the interest rate is lower. Therefore, I'd be able to simply consolidate debt at a much easier pace. [link] [comments]  |
| Should I take unsubsidized loans or take private loans? Posted: 28 May 2020 08:00 PM PDT I am going to be an incoming undergrad freshman this fall and I'm going to be borrowing loans for the first time. I have $10000 left to pay for my school's tuition and expenses. I can pay half of that out of pocket and with my job. But, I need some loans to cover the other half. My school offered me $3500 in subsidized loans and $2000 in unsubsidized loans. I will borrow the subsidized loans but I don't know if I should borrow the unsubsidized loans. I know that if I don't pay the loan while I'm in school the interest will accrue and I will have to pay more after I graduate. I'm debating whether I should borrow it because I don't want to pay the capitalized interest when I graduate but I don't know if I have enough money to make the monthly payments while in school. I think I might be able to make the payments or my other choice is to take a Wells Fargo private loan. My parents have never gone to college so they've never gone through this and I've been figuring out most of this by myself. They don't want me to pay loans while I'm in school. But I think that I should take out all my federal loans before getting private but my parents believe otherwise. What should I do? [link] [comments]  |
| Posted: 28 May 2020 12:05 PM PDT Hi all, I'm currently 6 years into my PSLF journey and have my consolidated loans in IBR. My husband also has student loan debt and has been on RePAYE. After our last certification, my husband who is not eligible for PSLF got a good deal to refinance most of his federal loans to reduce his interest rates, although he still has some with fed loan. We knew this would likely raise my payments to the full standard payment amount and felt we could absorb the additional cost for the next 4 years. Fast forward to my recertification this year. I am currently pregnant with twins, which obviously has completely changed our financial outlook. Even counting the 2 new babies we are expecting, fedloan has my payments doubling which is completely unrealistic considering we will now need to pay for daycare for 2 infants. We have a couple choices: 1) try to save up the money we are saving on not paying my loans during Covid 19 and put that towards the payments post Covid, and punt the problem to next year 2) Switch my plan to Repaye and save some money this year, with the expectation that our salaries will stay consistent for the next 3 years with the economy being what it is 3) File our taxes married filed separately and take the tax hit but benefit on my student loan bills, even though it won't affect my husband's student loan bills (this also offers him the opportunity to refinance the rest of his loans) We do live in a community property state so I won't be able to claim the babies on my taxes with my lower income next year, but I suppose we can look at the tradeoffs each year and I can always move to option 2 if we choose option 3 this year. I keep wavering between options 2 and 3, but the inaction shifts us further and further toward option 1. Any thoughts or lessons learned from previous experiences would be welcome. [link] [comments]  |
| Refinancing Navient During COVID & Recently Got Personal Loan Posted: 28 May 2020 09:11 AM PDT A light switch just went off in my head and I think I finally psychologically believe I can pay off my student loan debt. I have a bunch of Fed Loans but not going to refi them at the moment since I'm seeing first hand the benefits of having a federal loan due to Covid situation. I also am taking a look at the individual loans and think I can scrap through them way faster than I ever thought possible (it's in total about 30k at an average of 5%). I've been very committed to improving my credit score (I'm at 690 today - should be at the 700 mark soon), completely changing bad spending habits, and gaining financial freedom. Learned my lesson and am glad I did when I was young. For my Navient loan - they are just so large it's hard to process mentally.
As an aside, that combined debt of 78k was all for an English degree, lol I also got a consumer loan in early March from Upstart - but I shopped around for best interest rate so I had a hard inquiry from two places. I was approved but one of them I declined and it's showing up on my credit report. The one I decided to move forward with doesn't show up. So two questions here:
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| My financial advisor doesn’t trust PLSF Posted: 28 May 2020 06:10 PM PDT My financial advisor doesn't trust PLSF- like it will fall through . Any merit to this? Do I start over and make full payments? [link] [comments]  |
| Can you take a loan out for a second masters degree ? Posted: 28 May 2020 09:49 AM PDT |
| Posted: 28 May 2020 07:26 AM PDT I withdrew from my master's program back in December and I remember I had a 6 month grace period to pay off my student loans. However I heard there is a student loan forgiveness or some kind of pause on payments? I don't know if I need to start paying my loans now because it has been 6 months since I've been out of school. [link] [comments]  |
| Posted: 28 May 2020 07:01 AM PDT I'm in the U.S. and want to study in the U.K. at the University of Manchester, I've got dual citizenship (U.S. and U.K.), but still have to pay international tuition which is gonna be around $35,000 a year. Looking around it seems my only option is Sallie Mae and reading about them they seem pretty bad. I know UoM is a good school and I should be able to get a decent job but it's a lot of money and almost all of the cost would have to be through Sallie Mae because my parents didn't start a college savings. I would be doing a BSc in Geography if that finds to be relevant info [link] [comments]  |
| Posted: 28 May 2020 11:01 AM PDT Hi guys, so I've been exploring some options for refinancing my students loans. In total I have about 30K federal loans and 70K private loans @6.5% I'm currently overpaying my private loans about $900 a month, my monthly payment is 500, I'm paying 1400. I'm seeing some competitive interest rates at about 10Y refinancing plan at 4.75% with a minimum payment of $775 and 15Y plan at 4.99% and a minimum payment of $584. Just wondering if I should go with the 15Y plan and with a lower payment in case a couple months down the line I'm no longer to overpay as much. Or do I want to go after a more competitive interest rate? Thoughts? Any feedback would be helpful [link] [comments]  |
| Posted: 28 May 2020 11:51 AM PDT I think I might have just gotten scammed and I'm afraid I'm in some deep shit. Has anyone used Docinaid? Are they legit? Please tell me they're legit. [link] [comments]  |
| Which student loan company should I go with? Posted: 28 May 2020 11:34 AM PDT Hey y'all! I've never taken out a student loan before so I'm unfamiliar with the process and the various companies. Has anyone here had a good experience with the companies they used? Any that you would recommend? [link] [comments]  |
| Anyone have experience with National Collegiate Trust? (cross posted) Posted: 28 May 2020 05:22 AM PDT Long story short the debt collector for NCT sent a letter in February offering a settlement of 50% with a payment plan. I hired a student loan lawyer to help negotiate and to make sure I don't mess anything up but now I seem more concerned than before. The loan was taken out in 2007 and I defaulted on it in 2009/2010. Unfortunately I had a co-signer (my estranged stepfather)and unfortunately he restarted the statute of limitation when he made payments just over a year ago. He's still making payments of $100/month. I thought the loan had passed the statute of limitation until stepfather sent a letter to me asking me to take over the payments and all the mail he had from the debt collectors. I told the lawyer the max I could offer was 30%; however, when he came to the table the collector said the lowest they'd go was now 60%. Since there was no amount agreed upon they said the account would go back to NCT. When I asked the lawyer what this meant he said usually that means they'd likely sue, but the lawyer said it's strange they haven't sued sooner since the loan is so old and NCT is pretty aggressive. He's under the impression (but not sure) that there must be an error on the account. I've read NCT has some issues from accounts they've purchased from that same period as mine so maybe? I'm kind of panicking and I was really hoping to put this all behind me, especially since I'd rather not have anymore contact from my stepfather. And I'd also rather stepfather not pay (for moral reasons). My questions are: 1) has anyone on here had/heard of a loan account from NCT that old without being sued sooner? The lawyer seemed baffled and said it was uncharted territory. 2) Is it too late to try to offer more now? Anyone know how soon they send accounts back? [link] [comments]  |
| Grad Plus Disbursement Question Posted: 28 May 2020 11:05 AM PDT Hey all! I've seen that the 2020-2021 Grad Plus loan rate is currently set at 5.30%. Does this mean that I should apply for aid after July 1st? Or does that loan rate lock in when I officially "accept" the disbursement? Can I accept after July 1st if I apply now? I'm a little confused about the process and I'm having a hard time finding information online. Thank you! [link] [comments]  |
| Posted: 28 May 2020 09:52 AM PDT What are the chances a new president/government comes in and puts in a student loan forgiveness plan? Should I only make the minimum payments even tho I could pay off much more monthly in hopes this may happen? [link] [comments]  |
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