How does this sound? Student Loans |
- How does this sound?
- How can I figure out how much I will be paying in interest each month?
- Best Options for $200K debt
- Is it better to pay off the highest $/interest loan while neglecting others, or deal with smaller loans first?
- 2nd stimulus check? Update on heroes Act ?
- Should I knock out my loan?
- Been in Default for years! Finally Landed dream Job. Looking for advice.
- Questions Regarding PAYE/IBR, Spousal Income (filing jointly), and Coronavirus
- Half of my loan payment is going towards interest. Any other options?
- 65k in Student Loan Debt with 2 accounts (6k) in Default. Feels like every time I get my head above water I get hit by another wave.
- I need help figuring out a way to pay for school.
- I need help with student loans.
- My brothers student loan is under my father and we cannot get in contact with my brother anymore. He's not paying the debt and has left my dad with it. What can we do?
- Almost $400K in Loans - PAYE Questions
- Loan Repayment not extended to September?
- I feel absolutely trapped
- 23k in private at 5.05% - worth it?
- Question about Army SLRP, PSLF and IBR in conjunction with Paid Ahead Status
- Can I go back to school with student loans?
- Student Loan Attorney Experience for Co-signer?
- What do you think the odds are of the student loan forbearance / 0% interest extending past September?
- Why did this happen?
| Posted: 09 Jun 2020 02:13 PM PDT I just a job after graduating this spring. Since I live at home, I am planning throwing 95% of my check at my loans (27k). I did the math and I would pay off my loans in about 7 months this way. My salary is 45k. However this all means no payments for retirement or my savings. Is this a good idea? Feasible? Has anyone does the same, where they stay home and throw their check at their debt? How did that work out? Thank you! [link] [comments]  |
| How can I figure out how much I will be paying in interest each month? Posted: 10 Jun 2020 06:02 AM PDT I have approximately 135k varying interest 3-7% federal loans and I'm curious how I will figure out how much interest is accruing each month once I begin repayment. [link] [comments]  |
| Posted: 09 Jun 2020 05:38 AM PDT Hi all, like most of you have at some point or have read about, i am having an entire breakdown about my debt. I am part of a middle-class family that did not receive any aid for undergrad and none for grad. i am currently $221,200 in debt working in Marketing at $60k a year and thinking of stopping grad school to not put anymore money into my debt. I currently am working on a small savings (never needed one until recently when i moved out on my own, please do not judge) and paying off all my current debt (credit cards, auto loan). i plan on IBR and trying to consolidate any federal loans, but my question to you is how can such insurmountable debt be handled without absolutely crippling my life? i am probably looking at around $3,000 a month in payments and between what i pay right now for rent, car and credit cards, if i stop school now there's no way i'd even be able to afford all of it. please any advice on how to make this more manageable helps! EDIT/UPDATE: Thank you for all the help. Right now i've asked any special occasion gifts are payments to my loans while I am in school. I am cutting subscriptions and stopping eating out (I do not grocery shop, i pretty exclusively just order in) and my parents said they would tackle half the student loan payments at this time. It's not all the way done, but it is progress. so thanks for helping me plan. [link] [comments]  |
| Posted: 09 Jun 2020 07:42 PM PDT I have 4 student loans through Sal, and with my current situation could put up to $700 a month to loans. My biggest loan is barely $29K and has the highest interest rate. Splitting that $700 across 4 loans won't really cover the principle so it seems like it would be most effective to focus my available funds where it is most needed. If I put all the money I can per month towards that one loan I'll wipe it out in about 5 years. If I do the same to my smallest loan it could be done before the end of 2021. [link] [comments]  |
| 2nd stimulus check? Update on heroes Act ? Posted: 09 Jun 2020 11:43 PM PDT Will I get more free money? Will there be an extension of 0% interest ? 105k in debt. Thank you. [link] [comments]  |
| Posted: 09 Jun 2020 05:43 PM PDT I have quite a bit I owe for my federal student loan but am working on that through PSLF. I have one private student loan left and have gotten it down to $4500 (interest rate is 6.25%) I am wondering if it would be a good idea to just pay it all off or just keep making my monthly payments. I currently pay $500/month on that loan and have $8500 in savings. I am trying to figure out the best way to get out of debt quickly and to keep building my savings. I am just looking to see what others think and hopefully make a more informed decision. [link] [comments]  |
| Been in Default for years! Finally Landed dream Job. Looking for advice. Posted: 09 Jun 2020 01:35 PM PDT I have student federal loans from 2005-2008 and 2012-2015 totaling some where around 31k They have all been in default sense my dad had a stroke in 2015 and I had to drop out of school to take care of him. My Wife also has 21k in the same situation. She has no income. Any way I have been working for a company for just under a year @(17.88/hr). They LOVE my work and where going to offer me a salary position at 90-110 k. Then COVID happened and we are in a hiring freeze/layoffs... well they gave me a %40 raise to keep me from leaving. My finances have been stable for the last year and I was able to save up $6,000 for an emergency fund. I have no other debts but the defaulted student loans(I paid my car off last month). I was planning on figuring this out when I had the money to do something about it and now I do. I was thinking maybe I could negotiate better terms ( such as dismissing fees) if I could pay the smallest of them in full. My ultimate goal is to qualify for my VA mortgage. I am retired military and currently live in low income housing for vets. The building is nice but the other residence are ....... undesirable. Our two kids cant play outside due to the proximity to the drug rehab being measured in feet. So for my situation what would you suggest. sign up for rehab before my raise takes affect and wait 9 months to apply. sign up for a consolidation( does this mean I eat all the fees?) Pay them off as fast as possible. smallest first and negotiate. wait and save? If I have 20% down can I get a VA loan while in default to student loans? ~edit I got in contact with the guys for the 2005-2008 loan and they offered to settle for 5800 down from 8300 I have the cash but am scare to give up my emergency fund. I live a mile from work and the store so I can live without a car and all the bills are paid. I'm leaning towards doing it. Other than the emergency fund issue is there any reason I would not want to take the settlement? [link] [comments]  |
| Questions Regarding PAYE/IBR, Spousal Income (filing jointly), and Coronavirus Posted: 09 Jun 2020 11:14 PM PDT I think I know the answers, but wanted to verify before I re-certify.
Thanks in advance, and I hope these questions help others as well. If they have already been asked, please direct me to the answers. [link] [comments]  |
| Half of my loan payment is going towards interest. Any other options? Posted: 09 Jun 2020 04:30 PM PDT I've been paying on a private loan (3 separate loans) since 2005. My grand total is around 16k right now. The problem is I've been putting almost double towards my payments for the last 2 years and AES is taking out almost equal amounts of interest from each payment. Since Jan I've put $1350 towards it and $650 of that went towards interest. Is there a way to take this loan some place with lower interest? I really don't want to be paying on this for 10+ more years. Even though I'm putting double towards it each month it feels like I'm barely making a dent every year. [link] [comments]  |
| Posted: 09 Jun 2020 06:38 PM PDT The majority of my loans are through Navient around 50k. The other ones are Sallie Mae, Heartland and 2000 from my college itself that I had to pay out of pocket and went into collections. Currently 6000 is in collections. I'm making payments on one of those accounts and I am making payments on Sallie Mae. I feel like I am never going to get through this and feel so frustrated. I make around 45k a year and my rent is 600 without utilities. [link] [comments]  |
| I need help figuring out a way to pay for school. Posted: 09 Jun 2020 06:32 PM PDT I'm pretty clueless here, and at this point losing hope. I applied for a private photography school in Montana and with the discounts the tuition comes to $24,950. I already have an approved applicant with an apartment waiting for me to give them the word to send me the lease. My school tells me they only work with Sallie Mae, and I applied for Sallie Mae and got approved but with the interest rates they gave me I could end up paying $100,000 in the end for a tuition that's not even $30k. I tried to call and negotiate, to at least get the 11.5% apr at a fixed rate but they wouldn't even talk about it. This is my dream school, and I've finally been given an opportunity to go and I'm trying to exhaust every option before I give up and take the loss. My credit rate has gone down significantly in the past few months. I do have a co-signer but even with that, Sallie Mae wasn't being nice with their rates. I don't know what to do at this point, if I even can, time is running out for me to enroll and I feel helpless. If you guys have any advice for me, anything will help! [link] [comments]  |
| I need help with student loans. Posted: 09 Jun 2020 09:27 PM PDT I'm a first generation college student so this is new for my whole family. Right now the school I'm going to is about $47k a year and I'll be going there for two years. They are only willing to give me about $12k in grants and federal loans so in two years I would need to take out $70k in private loans. Which private loan company has the lowest interest rate? Does interest start right away or when you stop going to school? If I applied to multiple loans will my credit score go down? Thank you so much! [link] [comments]  |
| Posted: 09 Jun 2020 01:01 PM PDT My father is a very hardworking man. He prioritizes family first and it's sad to see that my step-brother doesn't treat him like he deserves. My family is struggling to get a home loan because my brother has 200k worth of student loan under my father's name. He doesn't want to put the loan under his name and has given it to my father. He's refusing to own up to it and basically won't contact us back through several emails and messages. This has been going on for a couple years. In this event, what can a person do? [link] [comments]  |
| Almost $400K in Loans - PAYE Questions Posted: 09 Jun 2020 12:46 PM PDT Hi everyone, my husband and I have almost $400K in federal student loans and are struggling with some repayment questions. Context:
Questions:
Thank you! [link] [comments]  |
| Loan Repayment not extended to September? Posted: 09 Jun 2020 04:24 PM PDT Hi all. So obviously student loan repayment was extended to September with 0% accruing, however, on my mohela account, that's not the case. All of my loans except one show that the repayment starts on 6/16/20, while the last loan shows the deferment status ends on 6/17/20, which I assume means that repayment will also start that date? Due to the pandemic, weren't student loan repayments supposed to be extended to September? Am I missing something? Please help because I am jobless and literally have only $1k to my name lol. I'm not the best with this kind of stuff so any advice would help :) Thank you! [link] [comments]  |
| Posted: 09 Jun 2020 08:29 AM PDT I'm sure alot of people see similar situations to mine I went to college for 2 years and as I went I began to struggle terribly with depression and anxiety always feeling like crap and that I was never good enough. Now I have flunked out of college have been on academic suspension for about a year and am working minimum wage with $25,000 in student loan debt and can barely make the payments for my loans if at all sometimes. Anyone out there deal with a similar situation? What are some ways I can go about getting my loans paid off/forgiven/canceled any ideas at this point would help alot because my dad doesn't have a job and I have no one to help me with my given situations. At this point I'm completely sinking and don't know which way is up..... I've personally looked into forgiveness a little but seems I might not qualify since I failed almost every class when I dropped out. Anything anyone can give me to point me in the right direction would be so appreciated at this point. I'm not asking for money or anything like that just advice or possible programs or places you guys have gone to for similar help to get me out of this sinking shit show I've created for myself. [link] [comments]  |
| 23k in private at 5.05% - worth it? Posted: 09 Jun 2020 03:59 PM PDT I don't know why I didn't think about this earlier, but here I am. I've got 13 years left. My payment is about $200 give or take on $23k. Credit score -770-800 Income - low to high 6 figures, steady and rising. I'm pretty sure I just answered my own question, but would this be worth it for me to look into at this moment? Who would you guys recommend? [link] [comments]  |
| Question about Army SLRP, PSLF and IBR in conjunction with Paid Ahead Status Posted: 09 Jun 2020 08:11 AM PDT With my civilian job being under a municipal government, I am currently working under the PSLF and IBR program to forgive my student loan balance. Another layer to this equation is that I'm in the Army and want to use the SLRP, ideally in conjunction with the PSLF and SLRP. With the Army's SLRP paying up to $7500 annually, this is higher than my current monthly payments based on income. Assuming there is no drastic change in my income and my employment remains the same, is it possible to take this $7500 lump sum and overpay for one month, such that it meets the installment or payments for the remaining 11 months? I know you need actual employment in a public agency to qualify for PSLF so that you cannot count those months ahead of time just by overpaying, but can the actual dollar amount and not the notional employment status be paid up front? I do not want to get into a situation where the $7500 is just dumped into one month's payment and have to make the remaining 11-months payments in full. Because I stupidly financed a masters degree, my principal is very high and this is not very beneficial to me if I cannot otherwise disburse the 7500 dollars across each payment for the rest of the year. For example, I do not see how this would be any different than if my bill is 405 dollars one month, I pay 410, and the next month it's now 400 dollars. There are a lot of moving parts with this, so I apologize in advance if I am not articulating this situation well and I appreciate your help in advance. [link] [comments]  |
| Can I go back to school with student loans? Posted: 09 Jun 2020 11:32 AM PDT I have $12000 in student debt with no degree. Can I start college again without paying the debt? [link] [comments]  |
| Student Loan Attorney Experience for Co-signer? Posted: 09 Jun 2020 10:12 AM PDT Back in 2013 I married my high school sweetheart after being together for 15 years. I made the huuuuuugggggeeeee mistake of cosigning on four student loans so he could go back to college. We were divorced soon after he graduated. Despite his assurances that he was making timely payments and everything was on the up and up, I was recently contacted by the loan holders that three of the loans are in default and the fourth has been sent to a collections agency. I've finally been able to directly contact that loan holder to know for sure that at least payments are now being made, but the loans total over $80k. There's no way I can pay them off. They offered to take my name off the loans if I could pay $40k, but that is also not happening. I've spoken to a bankruptcy attorney who also specializes in student loans, but his hourly rate seems kinda high. I'm just wondering if anyone else has been in a similar situation before and if they've had any luck hiring an attorney to help them get out of it. Thanks! Edit: There's a clause in the divorce decree that my ex is supposed to share all correspondence with me. He's also supposed to have been trying to refinance at least every year and show me the denial letters. [link] [comments]  |
| Posted: 09 Jun 2020 09:16 AM PDT |
| Posted: 09 Jun 2020 08:46 AM PDT I applied for a $20,000 student loan through Sallie Mae. I finished the application yesterday, and just received an email saying this:
So what's this? I'm just getting $18,438 instead of $20k? I need that $20k. If I'm only getting $18,438 I'll have to take another loan. There doesn't seem to be anything in the e-mail about what this means or why it happened, anyone have insight? [link] [comments]  |
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