Debt Free!!!! Student Loans |
- Debt Free!!!!
- Navient has updated their COVID-19 info page to account for the December 31 extension
- Saw this on twitter
- Paying Navient from Canada
- By reading this sub I feel incredibly lucky.
- Fedloan December 2020 extension question
- I am terrified to take out the student loans I need
- PSLF and The New Extension of CARES
- MPN in mail?
- I start school on Oct. 19th and I’ll need to pull some pretty decent sized loans after FAFSA. What should I avoid at all costs and what should I seek out when it comes to student loans? I do have a Navy Federal account, although I’m not sure if their rates are considered more competitive.
- Part time student/school certified a much lower amount than I need citing cost of attendance.
- Lost my job that was paying for my gradschool tuition due to covid. Should I continue?
- To start paying or wait?
- URGENT Parent Plus Loan
- Date of Last Payment Reported As July 01 ( First of the month ) to Credit Bureaus, While on Cares Act Forbearance, despite my Due Date always a Different Date ... is it Normal ?
- Joe Biden and PSLF
- Can you accept more of a Grad Plus Loan retroactively?
- My school reduced my Sallie Mae loan amount?
- Have no idea how to fill out section on student aid test.
- Part 2: Really need guidance from y'all to strategize my plan of attack to pay off my student loans ASAP!
- Is there a financial advisor who specializes in student loan programs and can help me organize and keep my stuff straight? I'd pay them for the service like an accountant. Is this a thing? If so, where do I find one. When I search it seems like it's all scam artists.
- WHICH DEBT SHOULD I WORK TOWARDS FIRST
- 115k in student loans. Need help with how to approach it.
- Federal Loan Refund
| Posted: 28 Aug 2020 05:32 AM PDT Feels kinda weird to tell this to people in person but wanted to tell someone! Paid off the rest of my loans today with one big payment Graduated college in May of 2018 all in all it came to about 29k in debt and I've been making 65-75k a year. I know I didn't have the most uphill battle but open to questions. [link] [comments]  | ||||||||||||||
| Navient has updated their COVID-19 info page to account for the December 31 extension Posted: 28 Aug 2020 05:24 PM PDT Hey, guys. As far as I know, no one's posted about this yet, so I hope it's useful. Here's the updated page acknowledging the extension. It doesn't seem like Navient's updated everything on the site, though, since when I log in I still see a mention of the CARES Act ending on September 30. I also got an email about the extension: "Student loan repayment and interest rate suspension for ED-owned Federal Student Loans have been extended to Dec. 31. On Aug. 8, 2020, President Trump extended the 0% student loan interest rate and suspension of payments on federal student loans owned by the Department of Education (ED) until Dec. 31, 2020. What does this mean? · You are not required to make payments on ED-owned loans until Jan. 1, 2021, and no interest will accumulate. · Payments you would have made, but are no longer required to make, will count toward income-driven repayment (IDR) plan loan forgiveness. · Payments you would have made, but are no longer required to make, will count toward Public Service Loan Forgiveness (PSLF) if you have a non-defaulted Direct Loan and work full-time for a qualifying employer during the suspension. You will need to submit an Employment Certification Form that includes this period to receive credit for your employment during this suspension of payment period. · If you can continue paying your student loans while your loans are at 0% interest rate, your payments go farther toward reducing the principal balance of your loan amount once any outstanding interest has been paid. If you are already making voluntary payments nothing changes. If not, you may make voluntary payments by contacting us." [link] [comments]  | ||||||||||||||
| Posted: 28 Aug 2020 08:52 PM PDT This is true????? Curious cuz I have like 120,000 with 7% interest —————————————————————— Let's say you took out 10,000 in loans Every month you pay $1,000 $800 is interest & only $200 goes towards your loan [link] [comments]  | ||||||||||||||
| Posted: 28 Aug 2020 04:58 PM PDT Does anyone successfully pay Navient online from Canada? They make it virtually impossible without paying fees. I tried to pay using a USD account with Scotiabank (with 9 digit routing number), but they keep insisting they cannot locate the account, even though I can pay them by mailing a bank draft from that account. Many international bank accounts involve fees to transfer money and convert currency. I can't visit the US to open a bank account with a US institution because the border is closed. I'm close to stopping payments. [link] [comments]  | ||||||||||||||
| By reading this sub I feel incredibly lucky. Posted: 28 Aug 2020 04:17 PM PDT In Australia, a course for a bachelors in law is 34k a year. We make enough money a year at minimum wage for an 18 year old to pay every year, granted it gets you 1000 dollars when you pay it off, but that's the point of HECS. A studies fund provided by the government, that has no interest, pays off with tax, and only when you are over the paying income threshold which was 46k a year last year. [link] [comments]  | ||||||||||||||
| Fedloan December 2020 extension question Posted: 28 Aug 2020 07:37 PM PDT Hey guys, Has anyone noticed their myfedloan update to reflect the actual 12/31/2020 forbearance end date yet? Anyone know what's up with that? Genuinely curious as mine still says 9/30/20. I'm getting weird answers from reps that vary also, from yes it will update to they are working on it, and just ignore if it ever says past due, it will eventually update. It's making me panic a bit. I have to submit my IBR the month of September to boot so yea, I don't want to somehow go into repayment because of updating unknowns. [link] [comments]  | ||||||||||||||
| I am terrified to take out the student loans I need Posted: 28 Aug 2020 06:52 PM PDT Hi all, I just started my MSW program this past week, and I'm super excited about it. I've known for a while now that this is the field I want to go into and all of my passion and energy is going towards this career goal. But for some reason, I can't get myself to take out the loan I need to pay for this program. I don't even want to get into the numbers but just know it's a.... big loan that I know will put me in significant debt. I luckily paid my way through my undergrad and never had to take out a loan, so I'm very new to all this. I have had pretty bad anxiety about money for most of my life and every time I open my computer and go on my school's website to accept my loan I just can't bring myself to do it. I am so terrified that I'll be in crippling debt (in a field that won't make me enough money to pay off that debt anytime soon) and I'll suffer from it for the majority of my life. But I know more than anything else in my life that THIS is the career I want, this is what I feel called to do. I've tried thinking of alternatives but unfortunately, in order to do what I truly want, I have to go to grad school and get my master's degree. But the thought of being in debt is scaring me so much and I'm now questioning if taking out these loans will ever be worth it? I guess my questions are (besides getting this anxiety off my chest for a second), how are you handling the student loans you've taken out? Do you feel constantly stressed and burdened by them? Have you found a way to pay them off that works for you? Do you feel like student loans were worth it particularly if you went into a field that you're genuinely passionate about? Honestly, any and all answers/advice would help and be greatly appreciated. I just don't know what to do, the reality of it all is setting in. [link] [comments]  | ||||||||||||||
| PSLF and The New Extension of CARES Posted: 28 Aug 2020 08:28 PM PDT Does anyone know definitively if the extended months count toward PSLF? I called Fedloan and talked to two different people and they both told me something different. Even if it doesn't count, how does it effect my PSLF if I don't pay? Do I start over? [link] [comments]  | ||||||||||||||
| Posted: 28 Aug 2020 02:17 PM PDT Did you ever receive your Master Promissory Note (MPN) in the mail or not? If so, how long did it take to arrive? [link] [comments]  | ||||||||||||||
| Posted: 28 Aug 2020 04:09 PM PDT | ||||||||||||||
| Part time student/school certified a much lower amount than I need citing cost of attendance. Posted: 28 Aug 2020 06:59 PM PDT Hello All, In-kind of a not-great situation right now as school is approaching. I am going to be finishing up this semester part-time as I only need two more classes to graduate. I had taken out a loan for last year and the process was smooth so I thought (mistakenly) it would be the same this year. I requested 41k which I thought had been approved because on credible and the lender said it was approved and gave me my interest rates and so forth. My mistake for believing that. My school-certified a much lower amount closer to 24k. I said this was tough as I had already signed a lease and the shortest lease I could find was 9 months. Didn't want to be on campus due to COVID. I sent them a budget appeal which they talked to me and said they should be able to make work. I called again and they said I was approved for 35k which was great and something I could work around by cutting costs of eating/paying books out of pocket, etc. However, I just called again and was told it was back to the original 24k amount because it was at my cost of attendance as a part-time student. This would not cover my rent or food amounts but was told they could do nothing about it. This wouldn't even cover my rent for just this semester with security deposit included, even if my landlord agreed to let me cut my lease to 4 months. I am not sure what to do now. I am considering switching to full-time status and taking more classes than required which would increase my cost of attendance/giving me more money, but require me to take out substantially more debt than I need. Has anyone else been in a similar situation? Any thoughts of what I should do? [link] [comments]  | ||||||||||||||
| Lost my job that was paying for my gradschool tuition due to covid. Should I continue? Posted: 28 Aug 2020 12:50 PM PDT Hi all. Like the title...I lost my job that was paying for my grad school tuition. They paid about half, but I have another $23k to go. It's in cybersecurity if that matters. I already have about $15k in debt, so I just don't know if it's worth it at this point. However, if I don't finish I don't have a lot of faith my current degree will get me very far. Considering my 15k in debt, $23k paid for and $23k to go for grad school via loans...what would you do? Any advice or chat would be great. Thank you [link] [comments]  | ||||||||||||||
| Posted: 28 Aug 2020 06:16 PM PDT My wife is a teacher and has student loan debt. We plan on utilizing loan forgiveness by making payments for 10 years and then hopefully they will be forgiven, whatever the remaining balance is. As of now we haven't made any payments on them since they've been deferred due to how much money we were making. They were deferred until September when we were going to start making payments based off of income. My question is regarding how the loans are not collecting any interest right now due to Covid and everything until next year. I want to start making payments now on them and start that 10 year clock but she wants to wait until January and we have to start paying. Any pros or cons to each of these routes? Thanks! [link] [comments]  | ||||||||||||||
| Posted: 28 Aug 2020 05:06 PM PDT THANK YOU so much if you've read this through. I'm a first generation student panicking about loans right now. The billing deadline for my college is August 31st. I just helped my parent apply for a Parent Plus Loan. If the funds are not yet disbursed, or if my application is not yet approved (parent is currently unemployed) by the school by the 31st, what will happen? How long does it usually take for a Parent Plus Loan to get confirmed? I also mistakenly submitted an application in my name as the borrower for the "student," or my parent. I immediately contacted the school to cancel the application but it's the weekend. Will this interfere with my efforts in trying to get the bill in on time? Are there any repercussions for this? [link] [comments]  | ||||||||||||||
| Posted: 28 Aug 2020 04:22 PM PDT Hi , I just recently caught something on my Credit Report . My student Loan is with Fedloans and I like most others not paying during Cares Act Forbearance. However my Due Date is always 26th of each month ... but now it shows "Date of Last Payment" : July01 , 2020 .... is it happening to everyone ? Has anybody noticed that their Date of Last payment being reported as first of the month ? Just making sure my Payment Due Date or plan is Not somehow changed by Cares Act , and this is just how they use to report it while on Cares Act Forbearance. Can anybody please Confirm ? Btw , I use Creditwise from Capital One which shows Vantagescore I suppose. Thanks [link] [comments]  | ||||||||||||||
| Posted: 28 Aug 2020 03:50 PM PDT Am I understanding correctly that Bidens plan, should it ever come into effect, would limit the amount of loan forgiveness but still reward up to 5 years of service? So someone in a qualifying program that was there for say 3 years could have $10 k a year foregiven for a total of 30k, for example? But if that student continues they will no longer have loans after 10 years of service foregiven entirely ? Hoping some of the knowledgeable folks here can clarify this for me. Thanks in advance! My personal interest is that I worked for nonprofits for about 4.5 years and am now in the private sector and wondering if that means I would be able to get some loan forgiveness under this plan. [link] [comments]  | ||||||||||||||
| Can you accept more of a Grad Plus Loan retroactively? Posted: 28 Aug 2020 03:35 PM PDT My situation has changed and I am going to need to take our more than I originally expected. Is that even possible or am I screwed? [link] [comments]  | ||||||||||||||
| My school reduced my Sallie Mae loan amount? Posted: 28 Aug 2020 11:33 AM PDT Hi all! I'm a graduate student who uses SM for tuition. This semester I applied for $3500 to cover a $3490 tuition and was approved. However I just got a notice from SM that my school "certified a reduced loan" of only $3000. A useless SM chat agent told me "that is what your school feels you need for the semester." Anyone else experience this? I can pay the extra $490 at my next paycheck if I have to, but I don't understand why my loan amount was randomly changed? Any insight appreciated! [link] [comments]  | ||||||||||||||
| Have no idea how to fill out section on student aid test. Posted: 28 Aug 2020 02:41 PM PDT The segment Your Estimated Loan. I have a choice of choosing Use Your Loans or Use Average Loan Balances. Family size is set to 1 by default, but I don't know if I should be including my actual family, or if that's just something for people with spouses and children. This entire Federal Student Aid website is a confusing mess that I've been stuck on for days. H e l p . [link] [comments]  | ||||||||||||||
| Posted: 28 Aug 2020 02:17 PM PDT Hey y'all, I made a post 2-3 months ago here and learned a lot from your responses, so thank you! I have a follow-up question. Again, here's some background: I'm currently with Nelnet under a Standard Repayment Plan with a current total balance of $37,760.52:
My yearly salary is $58,600 at a non-profit and my biweekly net pay is $1,734.26. I was considering applying for PSLF, but after speaking with a Nelnet representative just now, I learned that I'm only eligible for two Income-Driven Repayment Plans: (1) Revised Pay As You Earn at $756.13/month or (2) Income-Contingent Repayment Plan at $460.15/month. (These are the only two qualifying repayment plans under PSLF.) I crunched the numbers and it wouldn't make sense to do PSLF because I'd pay off what I owe in less than 10 years. So, the repayment plans I qualify for are:
The Extended Graduated Plan immediately appealed to me, but then I realized I'd be paying more in interest over time ... My hunch is to stick with the Standard Repayment Plan, but I'd love to hear your thoughts. Which plan would you recommend? Thanks again everyone! [link] [comments]  | ||||||||||||||
| Posted: 28 Aug 2020 06:39 AM PDT | ||||||||||||||
| WHICH DEBT SHOULD I WORK TOWARDS FIRST Posted: 28 Aug 2020 07:52 AM PDT Hi guys so i am a (25F), I know I should have been saving more money and paying off more but i am now getting serious about this, basically what the heading says, I need help in. I am currently in 33k of debt. i currently have $400 in savings. I also want to save money so that i can move out cuz it is toxic where i live. i have a retail job which i make around $600 every to weeks. im also in school, and will be a surgical tech when I finish which is in spring of 2022. Here are my debts So let me break it down. Capital one: $291.91 USAA: $600 This is room a car accident that I owe Student loan: $859 The first 3 of these student loan debts have little to no interest on them accruing even when I was out of school. Student loan: $983 Student loan: $2582 Chase credit card: they closed the account but its $1500 Parent Plus loan: $9400 I agree to pay it cuz my mom used her credit and paid other stuff for my schooling Car payment: $ 16,784 can't get rid of it. My mom owns it and is paying the min. payment of $480 for the car note. im paying the car insurance which is $300. How can I also save money as well should I split my money from work 50/50. Please only real advice, please no your stupid of any kind just need advice not ppl telling me off about how shitty I am. Thank you. [link] [comments]  | ||||||||||||||
| 115k in student loans. Need help with how to approach it. Posted: 28 Aug 2020 09:34 AM PDT I have 115k in federally owned student loans from 4yrs of undergrad and 1 year of graduate school. I have ~80k in owned assets that have no debt associated with them. After living expenses and side business expenses I have ~40,000yr I can put to either paying off student loans or investing. Should i put that money towards increasing cash flow? I have worked fulltime in a job for 2 yrs that I am 90% sure would fall under psfl loan forgiveness. I have considered expensing out my income through my business and maxing out my retirement so that my AGI is low enough that I pay next to nothing on my student loans. Should I go ahead and pay it off or should I manipulate my AGI so that I pay little in student loan payments and wait for psfl? I dont like bad debt and to me student loans are exactly that. [link] [comments]  | ||||||||||||||
| Posted: 28 Aug 2020 08:50 AM PDT Hi everyone, so I am taking out student loans for graduate school. The loans were disbursed 8/14. I thought I read that any refunds will be given to the student within 14 days of it being disbursed. I just wanted to see if anyone could corroborate this info. I spoke to my financial aid office who told me to speak to student accounts. Unfortunately the wait time on the phone is insane so I thought maybe I could get a quicker response here. Thanks! [link] [comments]  |
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