Navient charging interest again... Student Loans |
- Navient charging interest again...
- Is there any way to (solo) petition to get FAFSA to evaluate a bad income year?
- Change Payment Plan
- Supplementing Income
- Federal Student Loan Rates
- I need input on Discover student loan (private student loan)
- Parent PLUS Loan
- Private loans for the fall?
- What is the best way to "move out"
- Rehab student loan or pay in full now?
- Hello, I am a recent grad (May 2020) looking to lower my interest rate by changing lenders. How would I go about this? Bank or credit union or elsewhere?
- I am a student working on an income share agreement startup, ask me anything
- 14 days to give you your funds
- Need some advice about a large Parents Loan
- Is there a way to reduce interest rates on private loans while still in school?
- How to go about paying for college in loans?
- What's the best way to lower interest rates for student loans?
| Navient charging interest again... Posted: 03 Jun 2020 05:01 AM PDT Received this message from Navient this morning, with the amount of unpaid interest. My loans are all US ED and covered by the CARES ACT. Whats going on here? We want you to be aware that interest accrues during the forbearance period on your loans. [link] [comments]  |
| Is there any way to (solo) petition to get FAFSA to evaluate a bad income year? Posted: 03 Jun 2020 10:47 AM PDT 2020 wrecked our income. I remember people on the subreddit (or another one) complaining about how FAFSA uses the taxes of 2 years before the academic year, and how it can assume someone if still well off, even if they are now jobless, and earning no income. 2022-2023, will normally be the year with 2020 taxes. I'm wondering if there is anyway to get it to apply to my 2021-2022 year, and if I do, what will happen to my 2022-2023 academic year if I chose to change it. I'm trying to minimize my loans, so I want to see if I can possibly get some aid for that year. [link] [comments]  |
| Posted: 03 Jun 2020 11:01 PM PDT Hi guys this is my first time using reddit so I hope it goes well haha. So my GF got a loan for college from discover and she needs to change her plan. As of this month she will have to pay around 300 dollars a month while being in school. She is going to be a sophomore and well 300 a month is a lot of money. I know that this post has very little information pertaining to her type of loan but I guess my main question is, is there any way that she can change her loan payment plan or is she stuck with the plan she initially chose. thank you, goose [link] [comments]  |
| Posted: 03 Jun 2020 07:37 PM PDT Hey folks. I'm hoping to catch a breath of fresh air. My wife is applying to PA school this year, planning to start sometime around June of 2021. She's amazing, and I know she's going to get in somewhere. My only concern is paying for school. I'll be working full time, and if she manages to get into one of the schools in our home state, I have a job that pays decently. However, she won't be able to work at all during school. It's just not possible with the demands of her coursework. Fortunately, she's been working as an ER tech to gain experience for school, so she doesn't have much income to replace (sad, right?). We'd be looking at a minimum of $1500 a month in supplemental loans to cover our expenses. I guess I have a few questions: -If any of you PA folks are reading this, how did you get through this with no income? -Are we insane to do this? We have no kids, so the timing feels natural, but being poor sucks. -Are there any alternatives to consider besides resorting to student loans? I've tossed around getting a second job. It's something I might give more thought, especially since this is just for 2 years. Any advice is appreciated. We just want to come out on the other end with our life, finances, and relationship in tact. [link] [comments]  |
| Posted: 03 Jun 2020 05:58 PM PDT What are the federal student loan interest rates for undergrad for the 2020-2021 academic year? I saw that they dropped down to a record low of 2.75%. Is this true??? [link] [comments]  |
| I need input on Discover student loan (private student loan) Posted: 03 Jun 2020 02:10 PM PDT Hi everyone, i'm currently considering taking out a private student loan from discover. I did my research on private student loans and I felt like discover would be the best bet. I applied for fafsa but did not get any offers because i'm recognized as dependent under my parents and their salary is alot when combined. Though, I dont really get finacial help from them for school and I cant afford it on my own as well. So I was hoping to get some input on what are the pros and cons from a student's persepective? Or from someone wjo took out a loan from discover. As well as what credit score was needed? [link] [comments]  |
| Posted: 03 Jun 2020 07:01 AM PDT Hi all, I just graduated and have parent plus loans in my dad's name. We did this intending to transfer the payments to me once I graduate. Are the payment amounts based on my dad's income? I know there is a standard repayment plan, does that take into account income? [link] [comments]  |
| Posted: 03 Jun 2020 02:59 PM PDT So this semester will be my last year of undergrad at a big city university, and I am just about to max out my federal student loan amount. I get a bit from fafsa in terms of map grant but the one I mostly relied on was an academic excellemce grant which they cancelled after this year. This means that I will most likely have about 8k left to pay off which wont be covered by federal. My question is that I am just not sure what to do, mainly seeking advice. I've never taken out a private loan, and I do not get financial help from either of my parents. Thankfully I was able to save a bit during all of this pandemic stuff so I have a good amount there but I don't want to deplete my entire savings account to pay for it. Should I look into private? Or just do a payment plan? although paying 8k out of pocket even in payments is going to do damage to a college student. [link] [comments]  |
| What is the best way to "move out" Posted: 03 Jun 2020 02:50 PM PDT With everything going my views of the world as not the same as my parent's. They have been providing me through the first two years of my school (food, apartment, any school cost) but I think it has came to the point where they might cut off my funding so what's the best way I can go about securing funding for my education? Most of my actual tuition and fees are already supported by Financial Aid.. the only thing that my parents support me for is my rent, food, and any other education cost. I don't mind living on nothing but what's necessary if that means that I never have to talk to my parents. I have no income currently and most likely won't for a while because of COVID. I'm a computer science student so I think I should be able to pay these loans off before I die. I'd love any guidance. [link] [comments]  |
| Rehab student loan or pay in full now? Posted: 03 Jun 2020 10:15 AM PDT So, I have a 3k Perkins loan that I recently found out has been defaulted for a couple years. All of my other federal loans were posted on Nelnet, and I never received any communication about this loan (which had a separate holder) since I originally accepted it. I now realize how stupid I was to not check my credit report earlier to be aware of this loan, but am just saying this to give context. I got this loan pulled out of collections and started the rehabilitation process. I was told by the holder that this will be better for my credit in the long term than paying the loan immediately in full, which I would have the ability to do. However, I checked my credit score after making my first payment, and it dropped by 49 points on one report; on another, it went up by 1 point. This was very concerning; can I expect my credit to fall this dramatically each time I make a payment this late? If so, would it in fact be wiser to pay it in full now? Thanks for any advice! [link] [comments]  |
| Posted: 03 Jun 2020 01:33 PM PDT I'm sure that made no sense, but hopefully you know what I mean. Obviously I can't just change lenders, but I was told that I can borrow from another lender, pay off the 1st, and refinance for a lower interest rate. I found some options on Nerdwallet but want to make sure I'm crystal-clear on what the pitfalls/pros/cons are here. Thank you!!! [link] [comments]  |
| I am a student working on an income share agreement startup, ask me anything Posted: 03 Jun 2020 11:51 AM PDT An Income Share Agreement is basically a loan that costs proportional to your future earnings, which means the people who do better (and thus are more capable) can offset their peers who don't do as well. Additionally, it creates an aligned incentive for your investor to support your professional success after the paper is signed since their payout is predicated on your success, instead of the current system where banks get their money no matter what. Hi! I'm an international student in the United States, and tuition for us is in the ~40k per year range, without cost of living. I'm majoring in computer science, and I've seen many of my peers forced to quit their STEM degrees halfway through (bc of cost) and stigma against taking out student loans since it feels like your investors aren't invested in your success, as loans pay out a flat amount. I was inspired by the VC model of investors who are paid back based on the success of their investments to create a startup that allows investor/mentors to invest in current students, giving them an incentive to support their professional development and provide them advice that I never got when I was a freshman. The value of this mentorship is the focal point of our value proposition! It seems like there's some general hostility towards ISAs on this sub, and I wanted to hear your criticisms of this idea (and hopefully change some minds about it)! Also, feel free to DM me if you have any more personal questions you don't feel comfortable publically posting! [link] [comments]  |
| 14 days to give you your funds Posted: 03 Jun 2020 11:40 AM PDT While there is not interest accruing right now due to COVID right now, this was a problem for me last year and I am wondering if anyone knows a good reason for this practice. Schools have 14 days to give you your remaining funds after applying the rest to tuition. That means interest is accruing on remaining funds that you do not have access to. I don't understand how this is acceptable. I understand there is a logistical challenge of getting the money to the students. But if schools can't get students their money right away, they should cover the interest during that period. Either that, or loans should go to students, and it is their responsibility to pay the school and that way they have the money the whole time. I hope I am explaining myself well. Half rant/half question. TLDR: students shouldn't have to be responsible for interest on money during the period of time that they don't have access [link] [comments]  |
| Need some advice about a large Parents Loan Posted: 03 Jun 2020 03:21 AM PDT Disclaimer: before University, my parents taught me nothing about money. My dad is apparently terrible with money. & throughout Uni, always assured my mom & I that he was taking care of everything, which is why I didn't know about a lot of these things til now. When I was in University, I took out 3 types of loans: Federal Student Loans, a small Private loan, and a Federal Parents Loan (with my dad). My dad is terrible with money & had no idea what he was doing when he was doing the student loan applications with me. When I graduated, I started to pay off my Federal Student loans, my dad said he would start paying for the Parents loans. A year & a half out, he didn't realize nor told me, I had a private loan too. That's when I took charge of my student loans myself, taught myself to budget, & have been taking care of those myself. The problem is the Parents Loan, which is about $130K+. Last year, my dad admitted (because he was caught) that he was having an affair. He was giving almost all of his paycheck to a 20-something, leaving me (recentish grad at my first job) to pay for bills at home, groceries, and helping my brother pay for college. I recently moved out, & before I did, my dad was trying to guilt trip me into paying for the entire Parents Loan too. I went over the math with him because I knew he took out the most amount each semester, & whenever the refund would arrive, he would take it & say he was going to use it to pay back the loans. Never happened. I think the money went to family trips (or maybe to his sugar baby who knows). The math equates to be only ~45% used for my education, and the rest for who knows what. He refused to believe that he owed that much, that it was all my education, but I had to bring up every term bill to get him to admit that I did not owe it all. I want to help pay for what I owe (~45%) because it's the right thing to do, but right now, I can't trust him with money. If I give any money to him, I don't know where it'll go. If I send money to the Parents Loan, he'll start expecting me to pay for it all. Any & all advice would be helpful. TLDR; Have about $130K+ in Parents Loan that my dad took out. Only ~45% was actually used for my education. I want to pay for that portion, but don't trust my dad to actually pay it back because he's a terrible person. [link] [comments]  |
| Is there a way to reduce interest rates on private loans while still in school? Posted: 03 Jun 2020 06:59 AM PDT A little background, I am currently a 3rd-year dental student and I was wondering if there was any way to lower the high-interest rates on my private loans (Wells Fargo) I acquired during undergrad? The loans with interest accrued are roughly ~$64,906 ($50,000 principal)
I've looked into refinancing/consolidating, however, I wasn't sure if that would be possible since I don't have an income currently. I will be graduating as a dentist in 2022, therefore, I was wondering if anyone had any ideas of what I could do to lower these crazy high-interest rates while still in school? Thanks in advance for your help. [link] [comments]  |
| How to go about paying for college in loans? Posted: 03 Jun 2020 10:38 AM PDT So basically my story is I graduated in 2019 and had to move from New Hampshire to Florida because of family circumstances and I took a gap year in that time. I got a full time job and have saved up $29,000 to help myself pay for college since my parents are in no way fit financially to help. I'm going to college back up in New England starting Fall and after all aid packages I have to pay $33k a year and if that aid package I receive stays the same I'm going to have to pay off a total of $132k for all 4 years. I'm the first in my family to go to college we are all lost on the best way and cheapest way to pay for college. So far the only loan that I'm taking is federal at $2500 Unsubsidized and $3000 subsidized. Does anyone have advice for how to go about paying for the 4 years. Any help is greatly appreciated because right now I'm kinda scared about what's going to happen [link] [comments]  |
| What's the best way to lower interest rates for student loans? Posted: 03 Jun 2020 09:34 AM PDT I have student loans with Sallie Mae currently my interest rate is about 11%. [link] [comments]  |
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