Can I refinance a private loan from my parents? Student Loans |
- Can I refinance a private loan from my parents?
- How to get out of defaulted loans and no longer have a tax offset
- One of my friends went to DeVry, and is stuck in dept, what can he do?
- Pay off student loans or buy business building...
- Refinancing too soon?
- If you opt out of CARES forbearance, do you loose the 0% interest rate?
- Pre-pharmacy major
- private loans
- Paying off remainder of Heartland ESCI loan?
| Can I refinance a private loan from my parents? Posted: 27 Jun 2020 12:30 PM PDT Like the title says, parents loaned me $$$ for my graduate school program. I have a promissory note with a 5% interest rate. However, I would prefer not to be indebted to my parents long term and wouldn't mind a lower interest rate. I am entering a high salary profession and think I would qualify for most refinancing programs from places like Sofi, etc. However, I cant seem to find any information online about if a private student loan from my parents (and not like a bank or something) would qualify for a refinancing program from a FinTech company. Does anyone know the answer to this? [link] [comments]  |
| How to get out of defaulted loans and no longer have a tax offset Posted: 27 Jun 2020 06:40 PM PDT Hello there, I'm having a hard time finding the information I need, hopefully you can help! I have been paying a Direct Unsub Consolidated Loan through an Income Driven Repayment Plan for a few years now after being in default for a few years prior. But still, my federal taxes are being offset year after year. How can I get out of a defaulted loan? Thank you all very much [link] [comments]  |
| One of my friends went to DeVry, and is stuck in dept, what can he do? Posted: 27 Jun 2020 05:05 PM PDT My apologies if this is the wrong place, but I'm kinda new to Reddit and figured asking here would help the most.So I'm trying to help out a good friend of mine, he moved on from community college for DeVry about 6 years ago. Honestly I was tempted by their seminars and opportunities, but made a plan already for University and was not going to leave it.Anyway, he basically got screwed over, he was in an AA program, and had to leave before finishing (I think they closed down that campus). Due to this he is around 30k in debt with basically nothing to show for it. He wasn't even able to transfer his courses back the community college due to the dept he owed. The worst part about it is, DeVry pressured him into a debt/loan forgiveness program, about 3 years ago, he was in a desperate financial situation, and his credit was really bad, so he took it. So due to that, he can't sign up for the DeVry Refunds, or get any of the money from the lawsuits. Now he has higher interests rate than before, and most of the money he is putting in is just going to loans. I hate to say it but thanks to Coronavirus, interests have frozen temporary and have given him time to breath. Anyway is there anything that can be done with the DeVry debt? Since he took the debt forgiveness program, he can't use Borrowers Defense set by the FTC. It's been so frustrating, since the rules from Devry and the FTC seem extra shady, and not at all straight forward like regular student debt. I feel helpless cause I want to help out my friends but I can find little of anything to help. Is there anything, grants, lawsuits, or programs that could help decrease or eliminate some of the loans he has? Assistance would really mean a lot! TLDR; my friend is in 30k in debt and got nothing out of devry. Was forced to go into a debt forgiveness program and basically got no money from the lawsuits, is there anything that he can do that could eliminate or decrease a decent portion of the debt? edit: spellings [link] [comments]  |
| Pay off student loans or buy business building... Posted: 27 Jun 2020 06:28 AM PDT Thanks to my master's degree, I was able to start a small business. I know there are 100s of variables to figuring out if I should pay off my personal student loan debt (I've got it down to $69K.) or buy a building for my business (which is what I'm leaning toward) which will, I'm pretty sure, significantly increase what I'm able to make in my business. I've been making $1500 payments a month (especially since all of it now goes toward the principle thanks to 0% deferment), but I'm struggling to pull the trigger on getting a loan and buying. I know most of that is due to COVID and a building would make social distancing very difficult with what I do so buying will definitely have to wait until at least the end of the year when (hopefully) things are better. I guess what I'm asking is, does anyone know of an resources that talk about if someone should pay off loans or save for business expansion? Thank you [link] [comments]  |
| Posted: 27 Jun 2020 10:44 AM PDT Refinanced grad loans last month at 4.1%. This month seeing another offer for 3.95%. Based on my balance, I would save about $1,000 over the course of the loan. 150 K balance. Probably a little more as I would not lower my current monthly payment. Is it silly to refinance (again) one month later from 4.1 to 3.95%? I can't really tell during the refinance period if you come out ahead or behind as your loan changes hands. With respect to accrued interest, etc. [link] [comments]  |
| If you opt out of CARES forbearance, do you loose the 0% interest rate? Posted: 27 Jun 2020 07:21 AM PDT Apologies if this question has been asked before, I looked and couldn't find anything. So I'd like to opt out of the automatic forbearance to help my credit but I want to make sure that won't affect the 0% interest rate. I've been lucky enough to be able to keep my job during this pandemic so I've been trying to take advantage of the 0% interest rate and really try to pay my loans down. But I really would like to take the forbearance off for credit purposes but I don't want to potentially lose the 0% interest rate. [link] [comments]  |
| Posted: 27 Jun 2020 12:59 PM PDT Hi, I'm going to study to be a pharmacist for the Next 7 years and this year I will be an incoming freshman at a university. I'm thinking about taking out $12,000 in federal and private loans for the entire year. Is this too expensive? Do any of you remember how much you took out as a freshman? Any answers would be much appreciated! [link] [comments]  |
| Posted: 27 Jun 2020 12:30 PM PDT hello👋🏻 im new to this reddit so i apologize if this is a FAQ, but what is the best private loan companies? I will be attending school and unfortunately federal loans/grant wont cover everything. It would seem that Sallie Mae is the best but I wanted to see if there were other good ones i might have missed. thank you! [link] [comments]  |
| Paying off remainder of Heartland ESCI loan? Posted: 27 Jun 2020 10:33 AM PDT Hi everyone, I'm attempting to pay off the remainder of my student loans on Heartland. I want to avoid paying any fees, so I was wondering if I could just set up a recurring ACH payment to process on the 1st of the month for the remaining balance? If I were to cancel that payment after July 1, when the remaining balance is paid off and goes to 0, would they somehow recognize it was actually a one-time payment and charge me? Are there any other potential issues I might run into by doing this? I apologize if this is a stupid question. I've just been seeing that Heartland is super shady and want to avoid any issues. Thanks! [link] [comments]  |
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