I’m not ready for this Student Loans |
- I’m not ready for this
- I think I just fell for a scam, what to do?
- Has anyone else seen their interest resume on a Navient loan?
- $110k in student loans debt, want to go back to school
- Employer database added to pslf tool
- Help with Re-Payment Game Plan
- I Really Need Help Deciding What to Do
- PLUS Loan Denied because parent took out card in my name & has adverse history
- Recent Grad- To Defer or Not To Defer
- Stressing about student loans entrance counseling
- I'm Pretty Sure My Student Loan Lender Is Blackmailing Me And I Have Proof
- Just realized I accidentally retook a class I had previously received an A in
- Loans for Master's in Spain. Please help.
- Pell Grant
- Question on Reaffirmation Agreement
- Private loans or federal loans? Refinance before or after paying off chunk?
- Old Student Loan Balance Still On Credit Report
- Did anyone else get a letter today regarding borrower defense
- Carribean Medical school took 60k student loan money.
- PASYE question
- Likelihood of Covid-19 forbearance being extended?
| Posted: 29 Jun 2020 04:33 PM PDT Im a 2020 highschool graduate and I plan on attending a smaller private college in my state about 3 hours from where I live. This is the college that I really wanted to go to because I have several close friends attending and it's a catholic college and I happen to be religious as well. I applied for student loans yesterday through Discover. I had to have a cosigner to be eligible and my parents don't have the best credit in the world because the interest rate came out at about 11% on a $20,000 loan. The cost of attendance after aid per year is around 25k but this year the college decided to fully cover tuition in the fall semester for incoming freshman. So my loan total for one year with interest came out to almost $60,000. As soon as I saw that number my heart plummeted because I knew I was going to end up being in so much debt at the end of my 4 years. The loan plan was 15 years with the monthly payments being around $312. I'm really lost right now. I want to go to this college but I don't know if the risk of massive student loan debt is worth it. Please help. Edit: Thank you for the replies, I'm reading all of them and I understand that the situation i've put myself in is not ideal. Also, I plan on majoring in nursing. [link] [comments]  |
| I think I just fell for a scam, what to do? Posted: 29 Jun 2020 11:52 AM PDT I just got off the phone and signed documents with this Amerified docprep company. They said they would consolidate my loans and lower my debt to payments of $39 for 20 years. I am on the phone with my loan provider seeing what I can do. In the meantime, they haven't charged me anything yet. I have a couple of questions. While I was writing this, they told me I can go on a plan based on my income which I would be paying $0 for at least a year and then re do the process for the next year. I believe this is what they would be doing for me for 20 years and getting $39 from me for something I can do for free. I am blocking my account and doing the process on my own. Still not sure if I am missing on something. I can't afford to be screwed with a higher interest because what I had was already low. Any help, tips on how to fix or amend this situation would be infinitely appreciated [link] [comments]  |
| Has anyone else seen their interest resume on a Navient loan? Posted: 29 Jun 2020 09:34 AM PDT I received an email that my forbearance would end June 18th. I figured it was some auto generated email. But I've noticed that the interest started to accumulate. I did sign up for their emergency forbearance prior to the governments 0% interest reduction. I would have assumed when the forbearance ended, the 0% would have kicked in. Anyone else see this? [link] [comments]  |
| $110k in student loans debt, want to go back to school Posted: 29 Jun 2020 05:31 PM PDT hello, as you can see by the title i am currently about $110k in student loan debt from undergrad and graduate school. I've recently had a change of heart (and bankruptcy) and wanted to go back to school to pursue nursing. I want to go to a local community college and I am missing one pre req class that I am paying out of pocket for. My loans were both subsidized and unsubsidized, I took graduate plus loans as well. Will i be able to take financial aid out for the two years of local community college classes or would I have to pay for it out of pocket? thank you [link] [comments]  |
| Employer database added to pslf tool Posted: 29 Jun 2020 08:27 AM PDT I'm on the road so can't crosspost properly. But the feds have enhanced the pslf tool. Read about it here https://ifap.ed.gov/electronic-announcements/062920NexGenFSAStudentAidgovWebEnhanceJune2020 EDIT - ok I'm in a place where I can add more info. My understanding is that this database contains all government employers and all 501c3's as approved by the IRS. It also contains non-501c3 non-profits but unless they are of the small percentage that qualify, those are the ones that will be listed as "unlikely". If you think yours is, then absolutely submit your EFC along with the documentation needed to prove it is. They will be updating this database with new approved employers when they get them - expect it to take no longer than a month. I'm also told that right now it's a little clunky in that you have to input the name, EIN etc but it's essentially only searching for the EIN and the name may come back as something different - especially if it's a federal agency. Don't worry about that unless it's way off. Over the coming months they plan on adding more updates to make it less clunky. I'd be interested in people's feedback as they play with it. The point of the database is letting borrowers know up front if their employers qualify and to reduce the number of denied ECF's and PSLF applications. [link] [comments]  |
| Help with Re-Payment Game Plan Posted: 29 Jun 2020 05:36 PM PDT Hi all! Long-time lurker and fan of this sub using a throwaway to get some help on the best, fastest re-payment plan from this extremely helpful community. My partner and I had ~$120k in debt together. She paid her portion (a little less than half the amount) by overpaying, penny-pinching, etc. etc. quickly. What's left is about $66k of mine which has been tied up for 4 years in a Borrower Defense suit which I was denied—I have some choice words for Miss DeVos but that's another post for another day. During the deferment of about 4 years(!?), we were able to purchase a tiny home in WA state, pay off the car and credit cards, and put away a decent amount of savings. I now make enough to cover our mortgage and bills and she was able to leave her job to pursue meaningful (aka low-paying) part-time and political advocacy work. Here's roughly the situation:Loan Breakdown*:
*I don't have the interest break downs because of COVID deferment, but I can estimate that Loans A & B are ~6% and the rest ~3%. Mortgage: $2,300 Monthly Savings Goal (pre-Borrower Defense adjudication): $800 Savings in the Bank: $40,000 Income Situation: I'm bringing home about $5,000 a month after taxes (and with putting a ton into a very generous retirement plan). She will be bringing home ~$1,000 a month after taxes. Her job is new, and mine—all the fingers crossed and woods knocked—is extremely secure. We are quite thrifty and live well within our means, however we don't want to go back to feeling as scrounge-y as we did when we were in our 20s. We would like to take nice weekend trips, drink better wine, etc.! She, understandably, wants the loans gone as soon as possible, but will settle for feeling like there's far less of all that "gunky debt cloud" hanging over (she paid hers off as soon as possible because she detested the idea of owing money to the government—especially this admin...). We want to continue hitting that savings goal as well even with my "new" payments. My current thought is to cut the total amount in about half (get to ~$30k) extremely fast as that feels way more manageable than what it is now. We love the idea of having a year's worth of emergency "we-both-lose-our-jobs" savings saved up as we do at this time, but perhaps that's not necessary? Better to pay off debt than have it sit around? I am thinking about taking from our savings to tackle Loan A and then pulling from a side retirement from previous jobs (a pre-tax and post-tax mix) which is about $15k to handle Loan B. Then I can make nicely aggressive monthly payments. I would love any and all input and can answer questions! Thank you all so much in advance. P.S. Would be GREAT if a President Biden would help everyone out with a $10k forgiveness. :) P.P.S. Forever shout out to u/betsy514 for doing everything you do around here. [link] [comments]  |
| I Really Need Help Deciding What to Do Posted: 29 Jun 2020 01:34 PM PDT So I'm wanting to major in Theatre with a Concentration in Performance while studying for my teaching certificate so I can teach theatre. The school I got admitted into has a $26,000 annual price with dorms. I was only offered the full Pell Grant which is about $6,345. The rest is loans. That is an awful a lot of debt for my first year and it's stressing me out. I could go to a community college here but I can't stay at my house any longer. It's a very toxic household and I've been looking forward to college for years so I can escape. I was also offered: Fed Direct Subsidized Loan - $4,500 Fed Direct Unsubsidized Loan - $2,000 and Federal Parent Loan Offer - $13,813 I don't really even know what these mean. I feel stuck between a life of debt and toxicity. I really don't want to stay here anymore. It's made me feel awful. What are your suggestions? [link] [comments]  |
| PLUS Loan Denied because parent took out card in my name & has adverse history Posted: 29 Jun 2020 04:39 PM PDT Hey all, My dad had me as an authorized user on several cards without telling me, and he's >90 days late on payments, so my Direct Graduate PLUS loan request got denied due to adverse credit history. Obviously I can't use him as an endorser, and my mom doesn't work at all & probably has her name on the cards too. Should I try to write an appeal for extenuating circumstances?? But I wouldn't even know how to begin showing that those accounts are his and not mine... PLEASE give me any advice you can, I am so worried. Any guidance on how to get these accounts off my report would be great too. [link] [comments]  |
| Recent Grad- To Defer or Not To Defer Posted: 29 Jun 2020 08:18 PM PDT If my loans have recently been deferred until May 2021 (recent grad), should I opt out of deferment once CARES Act is over and attempt to submit paperwork for PSLF so I can start making payments? Confused about CARES deferment vs. recent grad deferment. I am wanting to do PSLF and hope to make as many "payments" as possible while my payment is $0. Hope this makes sense. I have tried to do my own research but at this point I am desperate for advice as I am feeling very financially illiterate here in this situation. [link] [comments]  |
| Stressing about student loans entrance counseling Posted: 29 Jun 2020 07:26 PM PDT So for my school we had to do the student loan entrance counseling on the FSA website. However, my dad just told me to do it because he didn't want to, so I did it, but I left out a lot of stuff and did it totally wrong. Will this actually affect my loans? I thought that the entrance counseling was just a guide, however I am extremely confused and worried right now. [link] [comments]  |
| I'm Pretty Sure My Student Loan Lender Is Blackmailing Me And I Have Proof Posted: 29 Jun 2020 04:27 PM PDT I got an email with this subject line: "Help Us Help You - Please Update Your Contact Information Today And Avoid Calls To Your References" from the bank that I owe student loans to. I knew this email wasn't fake because I found the bank from a google search and logged in that way (to make sure I wasn't falling for a phishing scam), and when I logged in, Google knew my password already and I logged in to find the same subject line as a message. I am currently self-employed and make very little income, and I really don't want anyone calling my former employers, all of whom I worked hard to get a positive repertoire would be annoyed by a bank asking where I am. It's just contact information. Can it wait through this crisis, or is this so urgent that I should lose the reputation I developed from my former employers... This is so corrupt. Someone please tell me this is illegal and that I'm entitled to student loan forgiveness ffs. [link] [comments]  |
| Just realized I accidentally retook a class I had previously received an A in Posted: 29 Jun 2020 03:38 PM PDT Disclaimer: This is probably going to sound ridiculous and paranoid, but I suffer from OCD and it's currently manifesting as fear of going to jail for minor financial mistakes I've made in the past. Hi there, I'm in a lot of distress about a mistake I made in the fall of 2018 and just noticed upon going through old paperwork. When signing up for classes, I accidentally enrolled in a course I had already taken and passed with an A as duel credit in high school. I guess I just forgot since it had been several years earlier. Since I received financial aid for the class, I'm now afraid the school should have sent it back to the government because the course wouldn't have contributed to any progress towards my degree. I read the financial aid policy for the school, and it says you can get aid for a previously passed course one more time — but I didn't just pass, I made an A the first time. That means taking it again would've literally done nothing for me. It also says the school is required to track repeat courses, so I don't know whether to assume they're supposed to catch anything that's amiss. I ended up failing the class because I unofficially withdrew for mental health issues, and have already spoken to the school several times to make sure they didn't have to return any aid since I basically left without telling anyone (they didn't have to; I guess I attended enough of the semester.) But I never mentioned the repeat course because I wasn't aware of it yet, so now I'm scared it should've been returned and somehow slipped through the cracks. What is the standard procedure when a school realizes years down the line that aid needs to be returned? Will they just send me a bill? What if they think I enrolled in the course on purpose to somehow try and get credit for it again as an easy A? I'll happily repay the money if necessary, I just don't want them to immediately file a police report or something because they assumed I acted intentionally when it was an honest mistake. Thanks for any advice anyone can provide. I'm not sure if I should call the school or if it would be alright to wait for them to contact me if anything is amiss. [link] [comments]  |
| Loans for Master's in Spain. Please help. Posted: 29 Jun 2020 10:26 AM PDT I've fully committed to attending a Master's program at IE Business School in Spain. I am a US citizen. The tuition would be $40k alone. Federal aid is not an option at this school. I have looked into loans from Sallie Mae, which seem predatory. I don't know that there's any other option. From everything I'm reading here, it's not in my best interest to take out a loan for such an expensive year of school. I would really appreciate advice, comments, or any other relevant information you can throw at me. Thanks in advance. [link] [comments]  |
| Posted: 29 Jun 2020 01:48 PM PDT Today I submitted my FAFSA 2020-2021 form. The tax information that I needed to input was from 2018. I qualified for the pell grant when I submitted the FAFSA 2019-2020 form. The email I received said based on the information I gave, I only qualify for a direct Stafford loan. Me and my spouse made significantly more in 2018 then 2017, but we now make significantly less in 2019. Is there anyway I can contact my university so that I can use the 2019 tax return? (more updated to our financial situation). I just don't want to take out another student loan.. [link] [comments]  |
| Question on Reaffirmation Agreement Posted: 29 Jun 2020 12:48 PM PDT Has anyone completed one before and if so, can you explain how this can affect the loan? [link] [comments]  |
| Private loans or federal loans? Refinance before or after paying off chunk? Posted: 29 Jun 2020 08:50 AM PDT So after doing some research and forcing myself to break out of my habit of only paying the minimum on my student loans, I want to put a larger chunk of money in one lump sum to paying off some loans. I have $26k in the bank, company match for 401k, and $36k in student loans. It took me 5 1/2 years to graduate due to some complications. I have 11 total loans listed through Navient, two of which are private. I want to take about $10k from my checking and dump it into student loans. Before COVID-19, I was going to refinance. With gov't loans being at 0%, I am not sure if I should just not refinance right now and only pay the private loans using the $10k (Owe $19k total in private loans), and continue to pay the minimum on government. If I was feeling really frisky, I could potentially drop $15k on my private and then over 2 months, drop the other $2k to make up the last of private. I just want to ensure I am not doing something incorrectly. [link] [comments]  |
| Old Student Loan Balance Still On Credit Report Posted: 29 Jun 2020 08:48 AM PDT My girlfriend and I consolidated our respective federal student loans July 2019. We were reviewing our credit reports recently and I noticed one of her loan balances was still on her credit report. The loan was a federal perkins loan that was part of the consolidation. Even on the servicer's website, the loan shows a zero balance and the last payment made was in July 2019. The full balance is still showing on her credit report, with a last update of 2017. She called the contact for her servicer only to be told by customer service that that they would have her "rep" call her. Even on their website, it has language about how defaults are reported to the credit report within 9 months, but her paid-off balance has not been reported in almost a year. We are trying to get our credit in good order for a future mortgage. I am frustrated that we have to track down someone to do what should have been done a year ago. If someone misses a payment, it is reported almost the same day. But we have to go out of our way to make sure our loans are correctly cleared and are not double counted. WTF. TLDR: Paid-off loan still showing full balance on Credit Report a year later. [link] [comments]  |
| Did anyone else get a letter today regarding borrower defense Posted: 29 Jun 2020 11:48 AM PDT |
| Carribean Medical school took 60k student loan money. Posted: 29 Jun 2020 04:16 AM PDT Hello Reddit A few years ago I was in a Carribean med school. I paid first 2 years cash and was going into my third year for clinical rotations. I got approved for a 60k$ loan but dropped out before using it. The money was only meant to be used for clinical rotations, but instead the school used about 5k in "leave of absence" fees.. The rest they just straight up kept. I ended up getting a masters degree from the school using an alternative graduation pathway they have. The cost of that was 10k and came out of the loan. Now I have the bank emailing me saying repayment is beginning. The school kept all the money after many many repeated attempts asking them to return it k dunno what to do. My credit score is gonna get shot cuz of this. [link] [comments]  |
| Posted: 29 Jun 2020 08:10 AM PDT I emailed Nelnet with this question too. If I'm on a PASYE, or however it's put, and I make more than my monthly payment, does the extra count towards the 20 years or whatever for debt forgiveness [link] [comments]  |
| Likelihood of Covid-19 forbearance being extended? Posted: 29 Jun 2020 07:18 AM PDT I've seen this thrown around that it might be extended past 9/30. Any sources/insight into how likely that may or may not be? Just curious. [link] [comments]  |
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