Nelnet and Great Lakes to no longer service federal student loans after 2020 Student Loans |
- Nelnet and Great Lakes to no longer service federal student loans after 2020
- Just paid $13,400 to pay off a Private Loan....
- Made my final payment...now what? Is that it?
- Teacher Loan Forgiveness Specifics
- Federal student loan length and terms for graduate studies
- EFC and private student loans
- Best Loan Servicer?
- Student loan for CA community college
- Should I pay my student loan or wait?
- An excellent explanation of the new borrower defense rules that take effect today
- Direct Unsubsidized Loan - Rehabilitation/Consolidation??
- Free streaming vpn for student
- Will I have to pay loans in grad school?
- How long is credit pull good for?
- What's the best private student loan to get? pls help
- Am I close to my aggregate limit for federal student loans?
- Do I have to pay back my pell grant?
- Help with accepting Financial Aid
- US student loan debt but living and working abroad
- Refinancing bubble (?)
- Question about lifetime limit (returning student)
- Graduated in May, have some questions going in to this all
- What loan companies (for refinancing) have the least onerous application processes? And other additional questions
- Accrued interest- aggressive payment advice
| Nelnet and Great Lakes to no longer service federal student loans after 2020 Posted: 01 Jul 2020 05:15 PM PDT Not sure if this was already known here, but looks like a lot of us will have a new loan servicer next year. https://www.forbes.com/sites/zackfriedman/2020/06/30/student-loans-nelnet-great-lakes/ [link] [comments]  |
| Just paid $13,400 to pay off a Private Loan.... Posted: 01 Jul 2020 07:18 AM PDT It hurts the savings account, but it'll feel better once I get the pay off notice. This loan originally started at 12% interest at $42k. I screwed around in college but luckily with my career choice in engineering, the hard work has paid off. Only $52k more to go ($22k at 0% interest for life & $30k in forbearance from COVID). [link] [comments]  |
| Made my final payment...now what? Is that it? Posted: 01 Jul 2020 07:50 PM PDT Hi everyone, I just paid my last payment on (one of) my student loans (on Heartland ECSI, if that makes a difference). I heard a lot of bad things about Heartland, so I'm wondering...is that it? My balance is $0 now, and it shows that I have no more scheduled payments (I had monthly recurring payments). Is there anything I have to do to seal the deal? I'm probably just being paranoid, I just want to make sure I don't suddenly get surprised by some outstanding balance that snuck up on me somehow months later. Thank you! [link] [comments]  |
| Teacher Loan Forgiveness Specifics Posted: 01 Jul 2020 08:44 PM PDT I'm not sure if anybody would know this specific of a question, and I keep contacting Nelnet, but they always reply with an automated response, telling me to go visit their website. I am a social studies teacher who can claim 5,000 dollars for loan forgiveness; a science teacher can claim 17,500 (crazy I know). I will be teaching computer science next year, so 1 year out of the 5, and I am not sure if I can claim for the 17,500 or I have to claim the 5,000. Here is the link to their application if anyone is interested. https://www.nelnet.com/documents/marketing/pdf/teacher-loan-forgiveness-application.pdf [link] [comments]  |
| Federal student loan length and terms for graduate studies Posted: 02 Jul 2020 12:27 AM PDT Hello, my SO will be starting grad school in August. She is bing offered $20K in loans for this school year. She's inclined to take all of it so she can cover the entire cost without worry na shave money left for books and what not. The issue runs into if she wants to do this for all 3 years. Hypothetically that's $60K at 4.5% interest is insane, it's like $225/month interest is that right? We are still both pretty young and don't have family to fall back on for questions like these. What sort of guidelines exist for repayment of the loan? [link] [comments]  |
| Posted: 02 Jul 2020 02:35 AM PDT Hi all, So I like to think of myself as being experienced with how financial aid works, but this year the small school I'm attending is making things... complicated. My school's financial aid person is saying that private student loans can't be used to cover EFC, despite having done so last year. Is this really a case by case, by year basis? Also, the numbers on my financial aid package don't quite add up, as I'm being charged in total almost 4k more in fees and tuition, and they're telling me they don't need to update the financial award letter, which means that extra loans I can apply for using the title iv/financial aid package numbers don't all go towards eg room and board. What can I do about that? Sorry if any of this is confusing. Thanks! [link] [comments]  |
| Posted: 02 Jul 2020 01:53 AM PDT Consolidating my loans (all federal) and moving them to a new servicer. Who do you guys recommend? [link] [comments]  |
| Student loan for CA community college Posted: 01 Jul 2020 08:41 PM PDT Hello, I am 22 year old student who works at a grocery store averaging 20 hours a week, and my family makes too money for me to get FAFSA, and the FAFSA lady told me to look into another job, or student loans. I tried to researching Sallie Mae etc, but they don't work with my CC, and I applied for a number of scholarships etc, and so far nothing. Are there any places that offer a loan for a CC [link] [comments]  |
| Should I pay my student loan or wait? Posted: 01 Jul 2020 05:01 PM PDT I'm a junior in college. I have a private loan for about 3000 which I can pay off after the summers over, however I would have to take out that much for the fall. Should I pay it or just use the money for next semester? [link] [comments]  |
| An excellent explanation of the new borrower defense rules that take effect today Posted: 01 Jul 2020 03:23 PM PDT This is a series of three. The new rules are for loans taken out today and after. https://www.studentloanborrowerassistance.org/part-1-departments-2019-rules-go-into-effect-today-putting-relief-out-of-reach-for-many-borrowers-taking-out-new-loans-after-july-1/?utm_source=feedburner&utm_medium=email&utm_campaign=Feed%3A+studentloanborrowerassistance%2FyPwH+%28Student+Loan+Borrower+Assistance%29 [link] [comments]  |
| Direct Unsubsidized Loan - Rehabilitation/Consolidation?? Posted: 01 Jul 2020 10:05 PM PDT Hey there! I have a few questions regarding a direct unsubsidized loan. Originally, this loan was the TEACH grant that I had for graduate school, however, part of the stipulations for the grant is teaching in a low income (Title I) school for 4 years. I only taught at one for 2 years before the environment became too toxic and I left. I now teach at a student that is not considered low income. Therefore, the grant became a direct unsubsidized loan. Over the last two years since that happened, I moved several times and I'm thinking that whatever paperwork was mailed to me about this was lost in a move or in the mail and I did not know that the grant was actually now a loan and is in default. It's not a huge amount - $4,500 - but it's more than I can pay off right now realistically. I applied last week for rehabilitation, and I'm a bit confused about my options. I am wanting to start a doctoral program soon (within the next 6 months ideally), and I know that in order to qualify for financial aid, I cannot have a loan in default. I read some about making 3 qualifying payments and then consolidating the loan with my others, but I'm not sure how to go about doing that, or if that will even work in my situation. I am looking on the studentaid.gov website and it says the following about consolidation:
I know that ideally, the best option would be to complete the rehab (8 months, I think?) and then apply for programs, but if consolidating would be "faster", I'd like to know that as well. Any advice would be appreciated! [link] [comments]  |
| Free streaming vpn for student Posted: 01 Jul 2020 09:54 PM PDT I am preparing vpn service ,now testing stage,based on residential vpn ,(openvpn and wireguard), unblock streaming content such as netflix ,hulu,dazn,amazon,etc. free for student, when sign up with edu mail, will get free 1 year vpn account. PM me I will active free time . [link] [comments]  |
| Will I have to pay loans in grad school? Posted: 01 Jul 2020 07:07 PM PDT This may be a dumb question but I am completely lost when it comes to student loans. I am graduating with my Bachelor's in December 2020 and will owe around $50,000. Most are federal loans and 10k of it is from a private loan (Wells Fargo). I am planning on starting a grad program (Anesthesiologist Assistant school) in June 2021, hoping I get accepted. Will I have to pay student loans from undergrad during grad school? I will have to take out more loans for the graduate program as well. Will I just pay all of the loans once I graduate from grad school? [link] [comments]  |
| How long is credit pull good for? Posted: 01 Jul 2020 06:32 PM PDT I am in the process of refinancing my loan and looking at two different firms. Right now I have about 8 years left on a 40,000 loan fixed at 4.51%. I have already submitted an application for PenFed for a 2.96% variable 8 year but they are taking very long to review the app and it's still pending after about 2 weeks. So I wanted to check even more rates to see what's changed over the past 2 weeks and found a rate through splash financial 7 years fixed at 3.67% which I think is better because it's fixed and not a lot higher, very reasonable rate. My question is if I withdraw my penfed and go through another hard pull for Splash does that count as 1 pull or 2? I know for mortgages I think it all counts as one if some in a certain period of time. Any help would be great [link] [comments]  |
| What's the best private student loan to get? pls help Posted: 01 Jul 2020 06:13 PM PDT So I recently found out that my school will not be giving me my scholarships for the next school year (it's a long & irritating story). But, I have 3 semesters left, I'm already borrowing the max amount of federal loans offered to me for the year, and my job won't support rent & school so I'm thinking about getting a private loan. I've heard lots of bad things about private loans so pls let me know which companies don't absolutely suck as well as which to avoid like the plague. Any other advice will be welcomed with open arms! TIA! I don't have anyone else to ask and the financial aid office at my school is rude/not helpful. [link] [comments]  |
| Am I close to my aggregate limit for federal student loans? Posted: 01 Jul 2020 05:56 PM PDT Hello, I just need clarity on how much I have left to borrow to finish my graduate studies. Mind you, I am attending a top US private school and thus classes are expensive.
That leaves me with roughly 87,000 in student loans borrowed to date. I am reading different things from different websites, like students have an aggregate limit of $138,000 that they can borrow in federal student aid. Websites are unclear if this is all federal student loan assistance or just a few kinds. So thus here's my question: Does the $138,000 aggregate limit for federal student loans INCLUDE the graduate plus loan that I took out OR if it is just regular undergradate/graduate sub/unsub student loans.
Another question: I consolidated my undergraduate loans in 2016. Will this matter in any way around my aggregate limit? THanks so much! [link] [comments]  |
| Do I have to pay back my pell grant? Posted: 01 Jul 2020 04:54 PM PDT I tried online schooling for my first semester of college, but lacked all discipline and didn't log into anything for literally 2-3 months. I failed all courses, and my GPA, I assume, sits at 0. That being said, I was out on financial aid suspension! Does this mean I am declined all financial aid if I were to enroll in the next semester? Or does this mean I have to pay back the pell grant that was used to cover the costs of my failed semester? [link] [comments]  |
| Help with accepting Financial Aid Posted: 01 Jul 2020 04:41 PM PDT Hey everyone, so I'm probably going to stay home with my parents for this entire school year because all my classes are online (SDSU). Anyway, my Cal Grant and the Direct Subsidized loan they offered me pretty much covers everything I need to pay for for the 2020-2021 school year, so I'm asking if whether I should still accept the Direct Unsubsidized loan they offered me as well even though I don't need it as of now? I'm an incoming freshman and I'm not too familiar with loans and stuff so forgive me if this sounds dumb [link] [comments]  |
| US student loan debt but living and working abroad Posted: 01 Jul 2020 04:09 PM PDT Hello all, I graduated from a university in the UK back in 2015 and my loan repayments were set to begin in 2016. I still live in the UK. While living there I kept deferring my loans even through to 2017-2019, from Navient and eventually just forgot and then when my parents started to receive phone calls I called back to negotiate a repayment plan but in the end chose not to make payments due to the fact that the monthly payments required were extremely high with no room to make smaller payments and a ballooning interest. At one point last year I tried to tell Navient that I make no income in the US and therefore should be making income based repayments at 0 per month. However they told me they had already transferred the debt into a collection agency. I should've done this earlier but it didn't come to mind. My parents were receiving calls from Navient for a while, but have since stopped receiving them after the debt was transferred to the collection agency. Some other possibly relevant information: I would like to contact Navient to get on an income-based repayment plan meaning I would pay 0 since I make no money according to my US taxes. But the account seems to be elsewhere. May or may not be relevant, but I am a US military veteran with 20% disability. I did use my GI bill to go to university stateside, but still took out a loan of approximately USD 16,000 for living expenses that were not covered while I was in the states and then while in the UK I took a further 20,000 to study a master's course. Again the GI bill helped tremendously but the UK is expensive and the 20,000 converted to GBP was much less powerful at the time. Some of the loans were subsidized and the other portion was not, though I cannot remember which one. So my question is, does anyone know what step I should take next? I very much would like to buy a house stateside someday with a VA home loan but don't think I would be able to if I had this messing up my credit. Thanks all. Best. [link] [comments]  |
| Posted: 01 Jul 2020 06:57 AM PDT Hi guys, I want to preface this by saying that I have a couple degrees in finance. I had a strange thought the other day that made me uncomfortable. It basically went as follows: Online refinancing companies (sofi, laurel roads, commonbond, etc) all have very unique, common properties, all likely a product of their being under-regulated and overly competitive.
I am going to put on my tinfoil hat here, but this seems unsustainable. It feels like these refinancing companies are just creating loans, selling them off to foolish investors, and forgetting about what will happen to them. I know that is a gross simplification, but it kind of reminds me of (my understanding of) the 2008 real estate bubble, where banks (who are now much more regulated) would create mortgages, bundle them together, and sell them off to pension/retirement funds who didn't know any better. A thing of note about 2008, the mortgages were also of variable rate, and when that rate shot up, everyone defaulted at the same time because no one could afford their payments. Obviously the real value of these student loans would total nothing close to real estate debt in 2008, and the markup (2x-10x) is not close either (real estate is a finite resource, after all). The scary thing is that these loans don't have any collateral, so that is still pretty scary . Anyhow, The way these loans are being so incredibly generous feels strange... Anyhow. I'm just looking for someone to tell me I'm crazy and should relax a bit. [link] [comments]  |
| Question about lifetime limit (returning student) Posted: 01 Jul 2020 08:04 AM PDT My Fafsa award offer from my university has me near my under-grad limit of 57,500, and I should have just enough to make it. I've been out for about 10 years, so with interest my actual balance is way over 57,500. Just trying to confirm that that number is what's borrowed and not the actual balance of what you currently owe. Thanks🙂 [link] [comments]  |
| Graduated in May, have some questions going in to this all Posted: 01 Jul 2020 10:49 AM PDT My university did not do the best job describing the repayment process to me so I'm hoping Reddit can help! If asking general questions like this has it's own space please let me know. Here's my situation. 21, single, working as a Cyber Security Engineer and making a good chunk of change. I have 4 Subsidized loan, 5 unsubsidized, and 2 perkins loans (which I don't qualify for cancellation on). In total I owe $39,344. I really want to just get this paid off as soon as possible to just get some peace of mind. When I look through the Loan Simulator on FSA's website, it tells me I should look to consolidate all 11 loans and pay them off under the Revised Pay As You Earn (REPAYE) payment plan, looking at between $394-$456 per payment. Here's that catch, based on my current income I can justify spending more. I would feel comfortable paying $900 a month. My hope is that doing this will help me bring my end date close and pay less in interest. I guess my question is what should I do? Should I consolidate and do the REPAYE, and just overpay every month? Or should I leave them all as is and just distribute the $900 every month over my different loans? Thanks in advance for any help!! [link] [comments]  |
| Posted: 01 Jul 2020 05:59 AM PDT Yesterday I was lucky enough to get a loan for 47k refinanced through splat financial (well, through the company they work with). I got a fixed rate of 4.82%, which is nice (better than the variable rate of 9% I currently have!). Still, I'd like to rate shop a little bit, but also to avoid companies that have super invasive or lengthy application processes. Also, I read that doing multiple hard credit pulls within the same time frame counts only as one pull. Is this really true? I'd prefer to not have my credit score dip too much...does anyone know what the time frame is? The loan offer also listed something called a Finance Charge, which came out to around 12k. To clarify, this is what I'll pay in interest (assuming I don't aggressively pay down the principle past minimum payments) over the lifetime of the loan, right? Finally, if I do take the loan, is there anything other steps I should take to ensure the transition from my previous lender (Discover) to this new one is as smooth as possible? EDIT : Just realized that a lot of places offer rates with just a soft credit pull, so the above question is less relevant (though I guess a few plays only "lock-in" rates after a hard pull?). [link] [comments]  |
| Accrued interest- aggressive payment advice Posted: 01 Jul 2020 04:51 AM PDT Hi all! We are ready to start FINALLY getting serious about getting rid of our student loans. I have 4 loans, all with FedLoan. Looking at starting by targeting just one loan while we still have the Covid forbearance then opening it up after that. Question is- will my payments now go solely to accrued interest and if so, should I get rid of the interest ($345) on one loan first, or pay off accrued interest on all accounts ($2500)? TIA [link] [comments]  |
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