Legal To Delete Borrower Defense Application?! Student Loans |
- Legal To Delete Borrower Defense Application?!
- REPAYE to PAYE after 19 years?
- COVID student loan forbearance and new mortgage
- Starting grad school this fall and... Now expecting to be a single parent. I could use some guidance on how much to borrow given my circumstances.
- Reducing federal payments by paying off early?
- Fishy Student Loans
- Question regarding private vs. federal loans
- Not sure how to pay
- Default/Loan Rehabilitation
- Can someone explain student finance loans and how they impact my future
- When do Student Loan Services Update
- Teacher Loan Forgiveness
- How to handle your student loans after graduation
- Navient Studen Loan Payoff?
- I don't have access to any co-signers and I don't know how to get a loan without one
- Hypothetical: What if everyone bought stock in the publicly traded companies that own their debt?
| Legal To Delete Borrower Defense Application?! Posted: 02 Jun 2020 07:33 PM PDT Good afternoon, I submitted a borrower defense application for DeVry University on Sept 20 2018 and received an email correspondence with a tracking/application number. It was submitted online and showed a status of "under review" until last month. The application is no longer appearing at all. I called them and they don't see it at all and refuse to say anything other than to resubmit. Is it legal for them to delete an application like this? Recently Devos was ordered to complete all outstanding applications within 18 months by a federal judge and I won't qualify if I have to resubmit. Any advice would be greatly appreciated. [link] [comments]  |
| REPAYE to PAYE after 19 years? Posted: 02 Jun 2020 01:28 PM PDT If it's possible to switch IDR plans, what is stopping people that are planning for forgiveness to reap the benefits of the REPAYE interest subsidy for 19 years and then switch to PAYE at year 19? Is this possible? If so, why is this not talked about more? I understand that interest capitalizes when you switch plans, but the amount you save from the subsidy in years 1-19 far outweighs the effect of capitalizing interest in year 20 in all of my calculations. [link] [comments]  |
| COVID student loan forbearance and new mortgage Posted: 02 Jun 2020 05:58 PM PDT Hey All, I'm looking at buying a house and talked to a loan officer. They said that if your student loans are in COVID forbearance it can adversely affect you qualifying for a conforming conventional loan. The logic was that forbearance is used in cases of financial hardship and also leaves a gap in payment. For the loan they want to see that you can, and have been making at least minimum payments for 12 months. I stopped paying the loans because in my mind it was an interest free loan, the saved cash would be used to pad out the down payment. I'm fine from a DTI and credit standpoint so if this is true this would the only thing that disqualifies me. Anyone have any insight on this? [link] [comments]  |
| Posted: 02 Jun 2020 03:44 PM PDT Hi all. I've applied for loans already and Ive been offered both the graduate plus loan and the unsubsidized direct loan for a combined total of 47000 for the academic year. This is in NYC at a CUNY so I am expecting my tuition to be just a bit over $14,000 in total. First I was shocked at how much I was being offered. I filled out my application incorrectly I guess and it said I was attending as if I were an out of state student. I didn't include that I would have a dependent, but I have amended that since. I don't receive financial support whatsoever from my family so I am entirely on my own and I have a job right now which is paying about $35,000 gross. If I am super frugal, I end up saving about 300 a month after expenses. I am a good saver and I have a decent cushion of about $10,000 for emergencies like... An unexpected baby I suppose. After seeing some repayment options on the federal student loan calculator, it seems that the cost could go down by an incredible amount if I opt for PSLF. Which I was considering anyway since I intended to work in civil service anyway. I am not sure about my job prospects... The degree is in statistics and I don't know how likely I will be hired for something at all related. What should I do? [link] [comments]  |
| Reducing federal payments by paying off early? Posted: 02 Jun 2020 05:50 PM PDT I have 7 federal student loans. My monthly payment (when not in covid deferment) is about $1600. I am enrolled in auto pay. I'm about 8.5 years from being free from these loans since I'm doing standard repayment. The $1600 is made up of 7 smaller payments (since there are 7 different loans) that all get lumped into 1 bill from myfedloan. I know being enrolled in autopay means even if I get paid ahead, every month the autopay will automatically take $1600 out of my bank account. My question- if I make a lump sum payment to pay off one of the loans, I would now only have 6 loans outstanding so would that lower the autopay withdrawal amount? [link] [comments]  |
| Posted: 02 Jun 2020 03:35 PM PDT So my parents have been paying for my sister's student loans for the past 10+ years or so. They were also paying for roughly 2 semester's worth of loans for me. Now, fast forward to today. I have a degree for which I paid for myself from another university. My parents noticed that in the Navient account, there was a disbursement of roughly $200k for the university I attended. The problem here is that it cost much less than that AND more importantly I've been paying these loans myself through a separate account. The total amount of loans in my student loan account make sense. What I don't get is:
I worked at the university I attended and can confirm the amounts I was charged for attending match up with what I'm paying on my own, but the $200k amount is suspect. Someone please help, I'm really upset about this. Thanks in advance. [link] [comments]  |
| Question regarding private vs. federal loans Posted: 02 Jun 2020 12:37 PM PDT I will be attending graduate school over the next two years, and I have been trying to decide between taking federal student loans and private loans (from Sallie Mae or Discover - whichever has lower interest). Most places seem to suggest that you apply for Federal loans first and max out before you even think about taking private loans. However, I see that private loans can have much lower interest rates and no origination fees. I've built up excellent credit over the past few years, and I think I can get the lowest rate. In that scenario, is there any benefit to getting Federal student loans? Income driven repayments won't matter since I am certain I can cover the loans that I am taking post graduation. [link] [comments]  |
| Posted: 02 Jun 2020 08:01 PM PDT Hello, I'm not sure where else to post this so I'll post it here. In high school I have a 3.99 gpa, a 32 ACT and am an Eagle Scout. Everyone I asked said that my college will be 100% covered by scholarships because I'm smart enough, so I applied to a college that is not expensive but not a community college either. Well, now the time has come and it's looking like I'll need to cover $7000 for my first year. I do not have that money. What should I do? I applied to every single scholarship that I was eligible for during my senior year (40+) but have only received one and been denied another.(My family consists of a single mom and younger brother if that helps) [link] [comments]  |
| Posted: 02 Jun 2020 09:42 AM PDT I recently successfully rehabilitated my Federal Student loans held by Navient through the help of ECMC. My private excel loans are also through Navient and are severely past due. I was recently contacted by Financial Asset Management Systems INC (FAMS) stating I qualify for a settlement of 32% of the total balance. I would like to take this opportunity to clear my private loans at this time of (finally) being current with my federal loans. Has anyone dealt with this company in particular? I am afraid of something going wrong as this would be a substantial amount of money. Navient still lists my private loans as past due on their website. Is FAMS legit and will this actually clear my private loans debt with Navient? [link] [comments]  |
| Can someone explain student finance loans and how they impact my future Posted: 02 Jun 2020 04:41 PM PDT so once a student completes their 3 year university course they will be in debt of 30k - 50k ( depending if they take maintenance loan or not). doesn't that mean they are paying it most of their adult life pretty much and even late adulthood? also i heard that if you stay on a low paid job for 30 years they can avoid paying this is that true? What im asking is basically once you finish you degree are you pretty much in debt all your life. (sorry if my grammer or my sentences dont make sense im a bit tired) [link] [comments]  |
| When do Student Loan Services Update Posted: 02 Jun 2020 12:46 PM PDT Hi All, I am curious if anyone else when or how often Student Loan Service company's like NelNet and Great Lakes update there reporting to credit agencies. I ask this question because I have paid off a few Loan groups and they have not yet updated at agencies such as Turbo Tax, Equifax, Experian, FICO. I ask this because I am hopeful, that since I have paid off certain Loan groups my credit score increases. And thus once I have an increased credit score I will be able to refinance my remaining student loans. I expect to wait to refinance until after the CARES act expires. Any help would be appreciated, thank you! [link] [comments]  |
| Posted: 02 Jun 2020 04:26 PM PDT On the application that I sent to my schools to fill out, I wrote the date next to my signature with slashes / instead of dashes - (I didn't read the instructions properly). Will my application be rejected like this? Can I white it out and re-write it? Or do I need to have my schools complete this all over again? :( [link] [comments]  |
| How to handle your student loans after graduation Posted: 02 Jun 2020 03:06 PM PDT Good video about how to handle your student loans, available for free on FinStream.TV https://www.finstream.tv/videos/money-basics/how-to-handle-your-student-loans-after-graduation/ [link] [comments]  |
| Posted: 02 Jun 2020 11:06 AM PDT Looked at my FICO score and see 2 student loans on my credit report. I however got a call from a debt collector of Navient to pay off my private loan of $15,232.91 for just $1,000. I logged into my Navient account and saw the amount being there along with my other loans that shows up on my credit. My main question is should I go ahead and pay that off for the $1k (seems like a deal to me) or focus more on the other loan that will affect/boost my credit once paid off? None of the loans are negatively affecting my credit in any way, they were once defaulted, but that was years ago and since then have been put on a cheap/low-income payment plan. Now i'm in a better position to make more payments and would like to know which option would be better. If I am missing some key information to help decide, let me know. Also, thanks in advance! [link] [comments]  |
| I don't have access to any co-signers and I don't know how to get a loan without one Posted: 02 Jun 2020 08:13 AM PDT Hi, I'm in a sticky situation, my parents make just too much to not qualify me for much federal loan assistance, but due to the Financial crisis of 2007-08, my parents lost almost everything and weren't able to save anything for me or my siblings (brother took a gap year to pay for community college, sister is still in high school). My parents are also looking to buy a house next year, and due to their low credit, co-signing a loan for me would ruin their chances of getting a mortgage. I don't have any other family members that can co-sign for me either (low credit or distant with our family). I'm stressing about this 24/7 because I've already committed to my 4-year and paid my initial fees and sent in paperwork etc. and I really want to be able to experience the "college experience". Through scholarships and what limited amount of federal loans I could receive, its enough to pay for half my expenses, and the money I get from my part-time job isn't enough to pay the rest. Every private loan company I've looked at requires me to have a co-signer to approve me for a loan, but I don't have access to anyone able or willing to co-sign for me. Is there anything I can do to get a student loan without a co-signer or am I out of luck? [link] [comments]  |
| Hypothetical: What if everyone bought stock in the publicly traded companies that own their debt? Posted: 02 Jun 2020 07:35 AM PDT To elaborate, I've had this crazy thought for a bit and I hope it sparks an interesting conversation. Hear me out on this highly unlikely hypothetical situation: What if everyone reallocated their student loan payments for a few months to buy stock in the publicly traded companies who own their debt? Could those new shareholders form an LLC and commit a hostile takeover of student loan providers since they would hypothetically own the majority share of the companies? Therefore, wouldn't that allow the new majority shareholders to dictate the handling of their loans? I know it would never happen, I'm just curious as to whether it's actually possible. [link] [comments]  |
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