A Thank You to Everyone Student Loans |
- A Thank You to Everyone
- Is this true? Student loan payments going to principal (instead of interest) under CARES ACT interest-free
- I need a student loan with a cosigner
- Nelnet Accepting Payments but Not Applying Payments to Anything?
- Rehabbing Loan Question
- I need a small-ish loan to cover my remaining tuition....
- can you get loans out of your name if they were illegally put there by your parents?
- advice for first private loan
- Earnest changing Interest on Fixed loan
- The interest rate of my private loan dropped?
- My school is reducing/trying to reduce my private loan amount?
- How frequently does Mohela report balance to Federal Student Aid website?
- What should I do here?
- Questions about your student loan experience
- Student loan debt - is it worth it to repay it all at once, or is this an unwise decision?
- What should I do here?
- Granite State Management & Resources Credit Reporting
- Transferring into 4 year College, Never needed loans until now :(
- Help with Nelnet please?
- Great Lakes Service Change
| Posted: 03 Jul 2020 08:57 AM PDT I wanted to just show a bit of appreciation to all those that contribute to this subreddit. You guys got me into reading my statements, summaries, details of my payment plan, and so forth. I'm about a year into repayment and I just realized today that based on the plan I'm on the last two years of repayment will consist of about $1000 payments monthly. It's good to know that now and reevaluate as a I go. Trust me without this subreddit those payments will have suddenly snuck up on me. As they say, the more you know... Thank you all. [link] [comments]  |
| Posted: 03 Jul 2020 10:31 PM PDT I've been hearing and reading that any payment you make during the 0% interest free under the CARES ACT will go to principal instead of interest. I sent a $100 test payment to a specific loan on fedloan servicing and it paid off my interest amount and not my principal amount. Am I doing something wrong here? [link] [comments]  |
| I need a student loan with a cosigner Posted: 03 Jul 2020 09:12 PM PDT I am going to be attending college in the fall, and right now my remaining balance is around 29,000 for the year. My cosigner has a credit score of the mid 600's, does anyone have advice for what loaner to go to? I am thinking about great lakes, and Sallie Mae. Let me know. Thank you. [link] [comments]  |
| Nelnet Accepting Payments but Not Applying Payments to Anything? Posted: 03 Jul 2020 10:09 AM PDT I am an authorized payer on a Nelnet parent plus loan and I am unsure why my payments are not applying to the loan. I have paid $8808.98 as several payments over 16 months according to Nelnet. The remaining total balance does not reflect the payments made, so I checked the detailed payment application breakdown on the account page. I can see that Nelnet list the payments being received at the proper dates in the proper amounts, but they are for some reason not applied to the balance! At first I thought the balances were not changing because if interest, but the payment history page gives a breakdown as well as totals. The totals row reads as follows: Total Payments: $8808.98 Total Applied to Principle: $0.00 Total Applied to Interest: $0.00 Total Applied to Fees:. $0.00 What gives? It looks like they accepted my payments but never applied them to anything. Does anyone have any experience with anything like this? I tried calling Nelnet, but they are closed for the national holiday. Thanks in advance! [link] [comments]  |
| Posted: 03 Jul 2020 03:58 PM PDT Hi Reddit, I'm going through the process of rehabbing defaulted student loans. The agreement from the servicer, FH Cann, states that:
Is there any way to avoid this? The interest is almost half the total of the original principal. Has anyone been able to rehab their loans without having the interest "capitalized"? Any insight/advice is appreciated. Thanks! [link] [comments]  |
| I need a small-ish loan to cover my remaining tuition.... Posted: 03 Jul 2020 10:27 PM PDT Long and anxiety-fueled story short, the remainder of my Spring 2020 tuition at my university is around $2900. I just want to get it taken care of. I'm a current student, but I can't take any more federal loans out for that semester. What would be ideal is a loan servicer/lender that doesn't require me to begin repayments on that small loan until after I graduate college in a couple years. Should I turn to Sallie Mae? I've heard so many horror stories...I may not even take out the full $2900 - it would be more like $2000. I just need to get this taken care of before my Fall 2020 semester begins. Should I try going through my university instead? I'm driving myself sick panicking about this, and I have pretty bad financial anxiety (because who doesn't). Any advice and guidance is so greatly appreciated. Thank you in advance! :-) [link] [comments]  |
| can you get loans out of your name if they were illegally put there by your parents? Posted: 03 Jul 2020 09:27 PM PDT so i have 80k worth of student loan debt. i'm in my 30s and i work at cvs making minimum wage. for years i never really questioned about how on earth these loans were so high. it turns out because my parents made too much money when they took them out. but shouldn't they have taken out a parent plus loan if they were being based off their income and not mine as a 19 year old? i never signed for these to be in my name and yet here we are. i looked into this and the guy at fedloan said i would have to file a police report and shit and it would send my dad to jail. i could never do that but these were not rightfully supposed to be in my name!!! anyone else have this happen? i want to go back to learn a trade because i'm going through a mid life crisis right now but i can't take anymore loans out because i cant even make payments on these. i don't talk to my father but i feel like he should be responsibly for these [link] [comments]  |
| Posted: 03 Jul 2020 09:10 PM PDT I'm a junior-standing rising third year who needs to take out their first private loan to pay the remaining balance of like 7k. I don't have any experience with private loans and need some advice. 1. What should I look for in a loan provider? 2. What are loan provider red flags? 3. Do you have any providers that you strongly recommend or discourage? 4. Is there any way to get more federal loan aid? [link] [comments]  |
| Earnest changing Interest on Fixed loan Posted: 03 Jul 2020 07:51 PM PDT I refinanced my student loans through earnest with a fixed interest rate. looking through my past payments it seems that my payment to principle isn't increasing each month but varies up or down each month by a few dollars. This can also be seen in the interest payed column of the receipt. I plan on calling about it when they open during the work week but I was wondering if anyone else has had this issue with them. [link] [comments]  |
| The interest rate of my private loan dropped? Posted: 03 Jul 2020 07:07 PM PDT I have a private loan that had an interest rate, based on at least a month ago, of 9.75%. As of today, that interest rate dropped to 8.25%. I haven't contacted the loan provider about anything regarding refinancing the loan so it seems great to me that it's a little lower but is that normal? [link] [comments]  |
| My school is reducing/trying to reduce my private loan amount? Posted: 03 Jul 2020 05:38 PM PDT This is my first time having to get private student loans so I am not used to any of this. I have already contacted my aid office, but they sent an automated email back saying they wouldn't be able to reply for five business days. Basically a few days ago me and my family filled out our private loan application and requested around 14k. We were approved for the full amount and it was sent to the school for certification. Today the school sent me an email telling me to check the student center for details and I had to accept the loan before they would certify it. My college slashed the loan in half with 3.5k going to each semester. This won't even cover my housing let alone my books and my parking pass. So what happened here? Will they be able to correct it? TL:DR Was approved for student loan, University slashed it and now it won't cover my costs. Concerned about going back. [link] [comments]  |
| How frequently does Mohela report balance to Federal Student Aid website? Posted: 03 Jul 2020 05:28 PM PDT I had one loan I took out for $2000 in college. I paid it off last month after graduating, but nothing is showing up on StudentAid.Gov related to my payment. Anyone know how frequently Mohela reports? [link] [comments]  |
| Posted: 03 Jul 2020 04:55 PM PDT Hi guys! Not really sure if I can ask these type of questions here but if I'm not in the right subreddit I can re-post somewhere else. Okay so I'm looking for some guidance here. I have two direct unsubsidized Stafford loans totaling $25,390.59 $15,571.85 at a 6.6% interest rate $9,818.74 at a 6.08% interest rate It's my understanding that everyone is in a COVID19 interest rate grace period right now until September 30th and they told me that it would be in my best interest to pay as much as I could until then because I would be paying straight to principal and no interest. Right now I am only paying $300 a month. Should I be paying more especially during this period? Should I pay both loans at the same time? Pay one off first? Pay in higher increments? I want to pay this thing off ASAP, but I want to get some guidance and I truly don't know anyone I could ask about this. Thank you everyone! [link] [comments]  |
| Questions about your student loan experience Posted: 03 Jul 2020 09:50 AM PDT Hi StudentLoans, We're a group of college students and recent grads who are working on an alternative to traditional student loans, particularly high-interest rate private loans. Our solution utilizes an income share agreement where students borrow against a small percentage of their future income. Typically these loans are between 10-20k with a 5-10 year payback period. There are a few companies that offer these products already such as Avenify and Blair. We have a few ideas for how to differentiate ourselves such as connecting students directly with investors as mentors, offering students career services, and hosting networking events. We're currently participating in the 2020 Crisis Challenge Startup Competition and we're hoping to get feedback from students about our idea, their experience with student loans, and any suggestions for ways we could help make your loans more manageable. We're also giving away a $50 dollar Amazon gift card to someone who responds to the survey! We're happy to answer any questions you might have as well. [link] [comments]  |
| Student loan debt - is it worth it to repay it all at once, or is this an unwise decision? Posted: 03 Jul 2020 09:48 AM PDT Hey guys, I've been struggling with this decision for a while now, and especially given everything happening in the world, I don't know what the best financial decision would be here. Essentially, to get right to the point, I have a loan of about $25,000 remaining. Following the current plan, they'd be paid off in about 9 years with around $300 monthly. My original goal was to save up and have at least $5,000 in the bank before paying it off, and then just rid of it all at once. I'm having a lot of conflict here because with my monthly payments being paused due to COVID, I've been getting close to this goal, but I'm second guessing if this is the best decision given the instability of the world right now. I know this loan isn't going away on it's own, and as soon as monthly payments start again, it's going to potentially make it worse if, by chance, I need to find a new living situation/job in an emergency. However, the temptation of being debt free is awfully incentivizing. Am I jumping the gun? I'd appreciate any experiences you guys have to offer. [link] [comments]  |
| Posted: 03 Jul 2020 07:18 AM PDT Hello everyone - not sure if this is the subreddit I should be posting on but I wanted to try. It's a really urgent matter. so here's the situation I'm in: my university just announced that ~90% of classes will online and that undergraduates should reconsider moving on or close to campus for the Fall semester. I already signed a lease at a private apartment last year, but luckily found someone yesterday who's willing to take the lease over. But, my school's financial aid office sent out an email yesterday saying housing will NOT be factored into the estimated cost of attendance this year unless you provide proof address close to campus or are living in dorms. In the past two years, I've gotten a significant amount of financial aid - 2 scholarships, federal penitentiary grant, a large university grant, and work study. Typically, it leaves ~8-10k to be taken out in loans. My first instinct was to transfer the lease of the apartment so that I'd save money. But then I was thinking and thought that since the cost of housing will not be factored into the financial aid packages, that my "gift aid" (scholarships, grants, etc). Will just decrease, now that the cost of attendance is lower, leaving me with the same 8-10k to take out in loans. And in that case, the apartment would not be significantly more expensive than living at home. Thanks so much if you read this and any thoughts are appreciated. I need to decide today whether or not to give someone else the lease. Thank you! [link] [comments]  |
| Granite State Management & Resources Credit Reporting Posted: 03 Jul 2020 01:04 PM PDT Hi! I wanted to see who else is experiencing some of the same problems I am with GSM&R. I have been dealing with errors on my credit report for awhile now. I've called them every single month, and their customer service reps claim that it's fixed on their end. They instruct me to wait at least 30 days — but it's never fixed! I've filed several disputes through the credit agencies, only for these errors never to come off. It's damaging my credit score, and I'm looking to take action outside the organization now. I also get a different answer about my loans every time I talk to a rep. Misinformation ranging from deferment/forbearance, to options on repayment and interest rates. My sister, who uses them also, is having the same problem. Anyone have any more insight to offer? Given their terrible online reviews, I know others are out there, and would like to compare notes. Thanks! [link] [comments]  |
| Transferring into 4 year College, Never needed loans until now :( Posted: 03 Jul 2020 10:14 AM PDT Hello! My tuition will be 20k a year, I got a merit scholarship with 2k/yr for 3 years and got $2,750/semester from FASFA for 2020/2021. I will need roughly 12k-13k to be able to pay for tuition this year. My brothers were able to go through credit unions to get better rates on loans but I don't have any credit history at 22y/o. Parent PLUS loans aren't an option since my mother filed for bankruptcy some years back, and both of my brothers bought a house this year. I've just come to terms with taking out private loans and worrying about paying it off after I'm done in 3 years. I've heard to stay away from loans that don't need co-signers, to stay away from Sallie-Mae, etc. I'm just sort of lost. My financial office at the University just gave me links, my brothers' attitudes are "well we did it all by ourselves, so can you". At this point, do I just pick one and deal with the consequences later? Any advice would be much appreciated. Thank you so much for your time. [link] [comments]  |
| Posted: 03 Jul 2020 08:38 AM PDT Can anyone help me with this Nelnet thing. Aparently it's my student provider. it's telling me to log in but What would my login information even be? Is is my FSA info, my school account info, is it something I need to create and account for? Please help I'm very confused. [link] [comments]  |
| Posted: 03 Jul 2020 06:43 AM PDT I have my undergraduate and graduate loans with great lakes, both of which are on PAYE. I recertify every september and I am also on paperless billing + autopay. I've quite liked my situation with greatlakes (excellent customer service) and I am a bit worried about the change to a new servicer. Will this effect my PAYE certification (i.e., will I need to recertify in the middle of the year or something) + do the other servicers also have paperless billing and autopay? [link] [comments]  |
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