35k in Student Loans, lost. Feeling defeated Student Loans |
- 35k in Student Loans, lost. Feeling defeated
- Curious as to how I should proceed with my situation.
- Need Guidance
- Feeling guilty with 100k-130k in Parent plus loans?
- Feels like I'm being swindled
- Can two Employers pay off 5250 each of student loan due to CARES?
- Confusion about paying Sallie Mae loan
- I have 1200 dollars in collections and my credit score is very bad (540) and I was wondering if it would be possible to get a graduate plus loan or if there’s a high chance of being rejected. Thank you
- Student Loan Advice During Gap Year
- How To Know Which "Make Money" Gurus On Youtube Are A Scam. Websites, tools, and resources to protect yourself from predatory marketers.
- Suggestions on budgeting
- Creating a budget to figure out how much of my loan to accept
- Help understanding parent plus loan
- Repaye plan and home equity loan to pay back student loans?
- Was originally told I'd be eligible for federal aid for school by university. Now they are saying otherwise.
- Question about medical school student loans
- how to qualify for more federal student loans? please help!
- How do I find the right loan?
- If Biden wins the election, would you hold off on paying your school loans off early?
| 35k in Student Loans, lost. Feeling defeated Posted: 08 Jun 2020 12:38 PM PDT Hi all, I have about 35k in student loan debt. Right now I make 40k. My goal for this year was to pay down my student loans but as we all know, monster payments are very difficult to make while having other expenses. BTW my degree is in journalism and now I work in advertising. The company I work for is pretty big and I have no plans of quitting this secure job. I feel like I could move up in the company and I already told my manager that I am interested in a marketing position or being a client success manager. I wanted to go to grad school for marketing but it will cost me about 22k more on top of my current debt. My goal is to be student loan free. Should grad school wait? BTW I do door dash on the side but with COVID19 and with the curfews its not that easy go pick up shifts after work. Thanks [link] [comments]  |
| Curious as to how I should proceed with my situation. Posted: 08 Jun 2020 10:29 AM PDT Have currently around 37,000 in student loan debit. Currently living at home and virtually only have to pay for groceries and other small costs each month. Take home income is 2400. I've been paying extra on my student loans since they started in December. Should I be aggressive and pay extra towards the unsubsidized loans I have? How should I portion my income in terms of money going towards student loans, emergency fund, etc? [link] [comments]  |
| Posted: 08 Jun 2020 04:49 PM PDT Last year I was denied a Grad Plus loan because I had multiple credit cards in collections, or delinquency, etc. I deferred my law school seat for one year and worked my a** off to pay off those debts. Many of which I ended up settling for less than the full amount. However, they are all settled and closed. Does anyone know if this will still disqualify me from securing a Grad Plus Loan? Thanks in advance. As for settling for less, I had no choice. I moved from Oregon to Florida to establish residency. My car transmission went out and I had to buy a used car in cash, etc. Somehow I still settled all these debts. I just want to know my odds of securing a Grad Plus Loan. If I should apply under a new application, or appeal my last denial. Any guidance is majorly appreciated. First gen here, and I want this more than anything, plus I received a generous scholarship. I can't give up on this dream. [link] [comments]  |
| Feeling guilty with 100k-130k in Parent plus loans? Posted: 08 Jun 2020 10:39 PM PDT I'm currently a 4th year college student attending Lamar University and I plan on graduating in December 2021 (3 semesters left) with a degree in computer information systems. Based on my current loans and making some projections, I expect to have about 30-35k in student loans under my name and about 120k-130k (with 7% interest) in parent plus loans (parent plus loans include my older brother who graduated in spring 2017) by the time I graduate. My parents make about 180k combined annually. I kinda feel guilty because the parent plus loan is high and I know the monthly payment will be high and I feel like it's mostly my fault just because I went to a slightly more expensive in state public school than my older brother (he went to PVAMU), even though the school I went to is still considered affordable (we live in Texas) and also it didn't help that it's going to take me 5+ years to graduate. I understand most kids don't graduate in 4 years but I still feel guilty. I do intend on helping them pay off the parent plus loans just because I know it's the right thing to do even though I'm not legally responsible for them. Does anyone have any experience with 100k-200k in parent plus loans? Should i even be worried since my parents make 180k annually? [link] [comments]  |
| Posted: 08 Jun 2020 04:09 PM PDT The Department of Education has my loan at a fixed interest rate of 8 percent on a loan of over 100 thousand dollars. It comes out to roughly 1000 dollars a month in just interest. They say even if I refinance the interest rate is fixed. I feel like they have put me in a hole and won't let me out. Something like this feels illegal. How am I supposed to make payments on the principal if the interest alone is near impossible to make payments on? If anyone has suggestions or thinks they can help me please come forward . I really don't want this debt over my head for the rest of my life. [link] [comments]  |
| Can two Employers pay off 5250 each of student loan due to CARES? Posted: 08 Jun 2020 05:53 PM PDT "The Cares Act simply amends Section 127 of the tax code to incorporate provisions of The Employer Participation in Repayment Act. This provision of the Cares Act allows employers to pay up to $5,250 of an employee's student loan debt on a tax-free basis." Can two employers pay for my student loans or an I limited to just one 5250 payment ? [link] [comments]  |
| Confusion about paying Sallie Mae loan Posted: 08 Jun 2020 01:05 PM PDT Today my first payment for my Sallie Mae loans. I was under the impression that I had to pay a minimum of $50 per loan per month. I've been told this many times. Then when I went to pay today, I got a message saying that since my payment is less than the amount listed for the payment this month, it may come up as past due. I'm very confused, I really thought I had to pay a minimum of $50 per loan per month. I've been told this by several people I trust but I can't find anything that makes any sense when I try googling for answers. I can't afford to pay over $600 a month right now and probably never will be able to. Can anyone clear up my confusion? [link] [comments]  |
| Posted: 08 Jun 2020 07:50 PM PDT I've been admitted to a masters program in Aerospace Engineering and am trying to pay off this 1200 dollars this summer. I had to put myself through college hence the poor money decisions and the adverse collection debts but am just curious if this credit score and my collections amount will lead to my denial? [link] [comments]  |
| Student Loan Advice During Gap Year Posted: 08 Jun 2020 03:37 PM PDT Hi, I just graduated with my undergrad degree/ I am taking this next year to prepare for grad school. My parents are low income, and I work at Starbucks. (Combined parent gross yearly income- about $30,000, while mine is about $12,000 & I have $38,000 in student loans) Is it smarter to stick with Starbucks and file for student loan deferment due to low income, or Could I still apply for student loan deferment if I got a new job as an admin assistant but moved to change my for Starbucks wages from $12.65/hr to $19-24/hr? Thanks [link] [comments]  |
| Posted: 08 Jun 2020 07:20 PM PDT Finding the right places online to educate yourself if hard. You can't even watch youtube without being interrupted by another guru claiming to be the best in the world selling you a course. A majority of these marketers are preying on gullible or emotionally vulnerable people and I'd like to see some someone develop a source of truth so user online know who is a scam or not. Any sort of input would allow you to help those on the come up and would be greatly appreciated:
I am looking to compile all of your answers into a research guide for people looking for reliable online courses and to educate themselves online. [link] [comments]  |
| Posted: 08 Jun 2020 05:42 PM PDT I am going into a 4-year undergrad program with only 67 credit hours left to complete due to dual-enrollment. I was not given any aid except an unsubsidized loan of $6.5k. After my academic scholarship, I'll owe about $6.3k for the entire year. I do not know if my best option would be saving each paycheck and paying off a big chunk of the loan each month, taking half of the loan and paying the rest out of pocket, etc. I also have money saved as a safety net. For reference, I make about $320 each paycheck and I'll be living at home for my first year (only have to pay for my gas and $80 a month for car insurance). Any suggestions are appreciated! [link] [comments]  |
| Creating a budget to figure out how much of my loan to accept Posted: 08 Jun 2020 04:04 PM PDT I just received my graduate loan package. I got a whopping $75,4xx in Federal Direct Grad PLUS Loan and $20,5xx in Federal Direct Unsubsidized Loan for an estimated cost of $106,2xx for four quarters of the 2020-2021 year. Cost of tuition for the program is estimated at $112,xxx total or $18,6xx per quarter for six consecutive quarters. I'm trying to figure out if I need to accept the entire amount because it scares me. It is for a nursing program and regardless of what I take out, I will get a job and pay it back, however I'd like to make sure I'm not taking out more than I need to. They estimated for the first four quarters and this financial aid year: My boyfriend and I just bought a house with the plan that he will be covering a big chunk of the mortgage costs (he is well employed), although some wiggle room would be nice. I will not be working in this program and have some savings but not a lot. I do not plan to do much besides study and be at home during this intensive program, so I'm not quite sure what the transportation and other cost would include. Do these amounts match up? Is the room and board cost grossly overestimated? Does anyone have a good budget calculator to determine the total cost needed? Any advice is appreciated. [link] [comments]  |
| Help understanding parent plus loan Posted: 08 Jun 2020 10:00 AM PDT I recently received my financial aid letter and got awarded a scholarship and subsidized and unsubsized loans. The amount left showed up as a parent plus loan offer for 19k, if I accept this in the schools portal am I done and the loan is taken out? Or do they later contact me to officially take the loan out with the parents credit. Sorry if this a stupid or confusing question. [link] [comments]  |
| Repaye plan and home equity loan to pay back student loans? Posted: 08 Jun 2020 03:23 PM PDT Is it possible to take out a home equity loan and use that cash to pay off a large portion of student loans but still be on the repaye plan? I do not want to refinance my student loans into my mortgage, I just want to use the cash to pay off a significant portion of the student loans but still remain on the repaye plan. Is this possible? [link] [comments]  |
| Posted: 08 Jun 2020 08:26 AM PDT Hi there, So, I have a masters degree in nutrition, but not the registered dietitian license. I returned to my university this past year because they opened a dietetics track in that degree. I had to take some prerequisite science courses to apply to the dietetics track, which they said I could not get federal funding for. When I asked if I could get federal funding for the dietetics grad classes that take place after the science courses, I was told that I would be eligible. I reached out again a couple weeks ago to the University's financial aid office again to check on that because I had a gut feeling they didn't tell me the right thing, and lo and behold, they're now telling me I can't get any student aid to take the RD courses since I already have a masters and would be adding to that degree instead of a whole new one. I have no cosigner for private loans, and I have no other options to pay for school. Is there anything I can do? Are there options out there I maybe haven't explored that anyone might know of? I can't apply for scholarships until I'm actually enrolled in the official dietetics program, so I have no idea if that would even work. Thank you for any advice, I know it's a bit long. [link] [comments]  |
| Question about medical school student loans Posted: 08 Jun 2020 10:07 AM PDT Hi everyone! This is my first time posting on this subreddit, so please let me know if I should post this somewhere else. I will be starting medical school in the fall. Of course, I need to take out student loans to finance this endeavor. I made a budget with the help of the school's estimated COA and student resources. I requested my budgeted amount (around $31,xxx) in Federal Loan Direct Unsub. I was incredibly lucky to have my parents help with my finances for undergrad, so I haven't had to deal with loan disbursement on my own until now. My question is - when will the loan be disbursed, and where will it be disbursed to? I'm sorry if this is a silly question! Thanks in advance! [link] [comments]  |
| how to qualify for more federal student loans? please help! Posted: 08 Jun 2020 07:08 AM PDT Hi all, I am an incoming freshman and first generation college student going to a 4 year in state university majoring in business. For my first year, I am looking to take out around 20k in student loans to cover for the "billable" costs (tuition, room and board, etc.) I plan on working part time to cover the "non-billable" costs (transportation, supplies, entertainment, etc.) My school is only allowing me to borrow $5,500 in federal loans for the 2020-21 academic year. $3,500 subsidized and $2,000 unsubsidized. Unfortunately my parents are unable to take out parent plus loans since they are not citizens. However, looking at studentaid.gov (https://studentaid.gov/understand-aid/types/loans/subsidized-unsubsidized#how-much ) under the "how much I can borrow section" it seems I am eligible for $9,500 in loans for my first year. It states that to qualify, I must be an "Independent Students (and dependent undergraduate students whose parents are unable to obtain PLUS Loans)" Now, obviously I am a dependent student according to my FASFA however my parents are unable to obtain PLUS loans. We are also low income and made ~35k according to the 2018 tax return form. I would obviously like to exhaust all federal loans before moving to private due to the record low interest rates at 2.75%. Under the "How do I apply for a loan?" section it simply states to file my FASFA which I have already done. My question is, how do I apply for the full $9,500 in federal loans? Do I contact my school? Also please do not give me the "you cannot afford 20k a year, please go to a community school" talk. I have been a long time lurker on r/studentloans and r/personalfinance. I have been dual enrolling at both a community college AND a private local college and have obtained 25 transferrable credits. I will essentially be a sophomore before I even step foot on campus and have the opportunity to graduate a year early. The school also has a top 5 program in the nation in my intended major. Since I do not plan living on campus after my first year, costs will be significantly cheaper. I do not plan on accruing more than 45k in student loans for my bachelors degree. Anyways, all the help and advice is needed. If there is any confusion I'd be happy to clarify in the comments below! Thank you so much, I hope everyone is doing well during these unprecedented times! [link] [comments]  |
| Posted: 08 Jun 2020 09:14 AM PDT I honestly don't know anything about loans so I was hoping someone could give me advice of what to look for. Like should I choose variable or fixed rate? How do I get my parents to be cosigners? Do I take out a new loan for each year of college? Any information or resources would be helpful! [link] [comments]  |
| If Biden wins the election, would you hold off on paying your school loans off early? Posted: 08 Jun 2020 09:07 AM PDT Currently been paying extra on my school loans and making payments during this 0% interest period. If Biden wins the election and senate and congress are democrat majority, do you think I should put the brakes on extra payments incase loan's get forgiven? [link] [comments]  |
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