It’s official! forbearance and 0% interest extended until 12/31 Student Loans |
- It’s official! forbearance and 0% interest extended until 12/31
- Denied for private loans
- $135000 in student loan debt
- Advice on paying loans
- Refinancing without a co-signer
- Laurel road student loan refinance
- Is it possible to use my sibling's student loan to pay for my tuition?
- I need help with my MPN
- Navient took me off of IDR plan without my approval.
- Should you wait to buy textbooks, pay tution, etc., until after you get the loan?
- How do loans work for grad school no co-signer?
- PSLF
- Federal subsidized loans: "Government pays your interest while in school" - What exactly does this mean?
- Does Great Lakes count for the new forebearance that was extended until 12/31/20?
- Advice on student loan repayment strategy
- Random Transactions on my Sallie Mae Account
- Scam??
- For those on the PSLF track, how much do you owe, and how much do you project you’ll be saving by being on this track?
- Why do defaulted loans bar you from literally all financial aid?
- Which loan should be tackled first?
- Is there any difference between paying off one loan vs paying into a larger one?
- Credit reporting
- Paused private Student Loan payments due to COVID. Lender won’t extend loan, will only add extra interest payments when they start again. Anything I can do?
- Does the interest free loans until the end of the year count toward people still school?
| It’s official! forbearance and 0% interest extended until 12/31 Posted: 19 Aug 2020 07:20 AM PDT Tweet was just sent out: federal student aid tweet. I'm glad it's finally made official. [link] [comments]  |
| Posted: 20 Aug 2020 12:32 AM PDT I'm an independent student (over 25), I accepted the federal student loans I was offered, but that wasn't enough to cover my entire tuition. I then applied for private student loans and got denied with a co-signer and I don't have anyone else to co-sign. I can pay this semester out of pocket but does anyone know how long after applying for loans I can re-apply? Like for the same ones? I applied to like 4, but our credit scores I guess were lower than we expected. We're gonna try and raise them over this next year [link] [comments]  |
| Posted: 19 Aug 2020 04:30 PM PDT Hi everyone, next year I will have to start paying off $120000 in private loan debt as well as $15000 in federal student loans. I'm starting to stress out already and I fully regret my decision to go to a private university. The private loans have around a 10% interest rate, which I will have to refinance down the line, and the federal loans obviously have the smaller rates. My degree is Economics and Finance (counts as 1 at my school) and I have a minor in computer science, and my family lives close to new york and hoboken, so I plan to live at home for at least 2-3 years out of school. My internship got cancelled this summer and they didn't give me an offer for next year, so as of right now I do not have a job lined up for when I start working next summer, which is something I have to lock down soon. Median salary for my major coming out of my school is around $80000, but again, I currently don't have a job offer. Not sure what my game plan should be towards paying off my debt, since over $100000 in just private loans is really going to kick my ass for probably all of my 20's. Can anyone give me some advice [link] [comments]  |
| Posted: 19 Aug 2020 03:37 PM PDT I have been using the forbearance as an opportunity to pay down on my student loans. I come from a family that is not very financially responsible and they are unable to give me any advice on how I should apply the extra payments I am making. I have 6 groups of student loans, pretty much all different interest rates. I have heard of the snowball and avalanche methods to paying off student loans. I'm just unsure if it is smarter to pay off my smaller loans first, my higher interest loans first, or pay of my capitalized interest first. Can someone please help me figure out the smartest way to apply my money?? I have $2,000 that I plan on paying on my loans. I'm trying to see if it would be smarter to pay off all of my capitalized interest or if it would be smarter to pay off my smallest loan. I will lay out my loans below: Group A: loan total-$6,595.32 interest rate-4.66% capitalized interest-$1,095.32 Group B: loan total-$3,271.63 interest rate-4.29% capitalized interest-$371.63 Group C: loan total-$7,027.92 interest rate-3.76% capitalized interest-$527.92 Group D: loan total-$7,500 interest rate-4.45% capitalized interest paid off Group E: loan total-$4,607.50 interest rate-5.05% capitalized interest paid off Group F: loan total-$1,758.41 interest rate-5.05% capitalized interest paid off [link] [comments]  |
| Refinancing without a co-signer Posted: 19 Aug 2020 06:51 PM PDT Refinance without a co-signer...is it possible? Hello! I just discovered this sub after yet another hair pulling phone call with Navient. They informed me that of the $576 I pay every month, $500 of that is going toward interest. How is that even possible or legal? I'm so aggravated and confused right now. My interest rates are at about 9% for most of my multiple loans with Navient. I desperately want to refinance and consolidate, but I have no co signer. My parents are in terrible financial shape and would definitely not be approved as co-signers. I don't have anyone else in my life who could co-sign for me, but nowhere will approve me for refinancing. I currently make $40,000 but am getting a promotion next month to $58,000 per year. I have $72,000 in private loans and they are killing me. I also have $60,000 in federal loans, but I work in public service so those are in PSLF. Do I have any options? I've been turned down by SoFi, Credible, and Navy Federal. [link] [comments]  |
| Laurel road student loan refinance Posted: 19 Aug 2020 06:39 PM PDT I have some private student loans that I am looking to refinance. Laurel road had the best interest rate for me through the initial estimate. I sent in all of my information to get a final loan offer from them several days ago but still haven't heard back. Can anyone give me some insight as to how long it took them to get a final loan offer from Laurel Road once all the necessary documents were submitted and accepted? [link] [comments]  |
| Is it possible to use my sibling's student loan to pay for my tuition? Posted: 19 Aug 2020 05:36 PM PDT My brother and I go to the same school. My brother got a large scholarship for the school, but the same amount of loan options were given. Due to the higher interest on the Parent PLUS loans, I would like to cancel an equal amount of Parent PLUS loans to my brother's subsidized loans and pay my tuition using his subsidized loan. Is this possible and legal? [link] [comments]  |
| Posted: 19 Aug 2020 01:21 PM PDT So my parents completed the parent plus loan MPN August 17th. My school as of August 19 have said they haven't received it so we filled it out again today. My financial aid advisor said that it may be a timming issue. What is that and is there anything I can do to fix it. I need this loan in by August 24th at 5pm or I will not be allowed to go to college. Please give me ANY advice. [link] [comments]  |
| Navient took me off of IDR plan without my approval. Posted: 19 Aug 2020 01:07 PM PDT As the title suggests, an employee from Navient took me off of my IDR (IBR), without my approval. I had called and spoke to someone about POTENTIALLY switching from IBR to REPAYE, but never authorized to be taken off of an IDR. Now my new payment is the Standard 10 year payment; I'm currently working towards PSLF so this irks me to no end. I've spoken to two different people to try to have it reversed or fixed, but no one can help me. They tell me I need to submit a new application and have it reviewed like previously. Has anyone had this type of problem before and if so, how did you go about resolving it? I want to speak to someone in charge but not sure if I can. I am overwhelmed currently with other personal situations and this was just the cherry on top. Any help or advice would be greatly appreciated. [link] [comments]  |
| Should you wait to buy textbooks, pay tution, etc., until after you get the loan? Posted: 19 Aug 2020 04:45 PM PDT Hiya! I'm a student in BC Canada. I've applied for a student loan for the first time. It's currently under review, but it's getting close to the start of my program and I know I need some supplies (textbooks, laptop, etc) and I would like to pay my tuition sooner rather than later. So my question is: can I pay for the supplies I need and my tuition with my credit card now and then be reimbursed with the loan or should I wait until the loan is confirmed and distributed? Any info is appreciated. Thanks! [link] [comments]  |
| How do loans work for grad school no co-signer? Posted: 19 Aug 2020 12:20 PM PDT Well since I couldn't get student loans for undergrad because I didn't have a co-signer how would grad school loans work? Would I still need a co-signer? What if I don't have income and want to go directly into grad school and no credit could I get grad schools loans without a co-signer? [link] [comments]  |
| Posted: 19 Aug 2020 09:40 AM PDT Hi guys! I am confused about the process for PSLF. I just graduated this past spring, and am currently employed with a school and will work in schools for rest of my life as my current masters program is in school counseling. I believe I am eligible for PSLF, but I'm very confused about how to enroll in it. Could anyone break it down for me, so I know what forms I need to do and how to enroll? Thank you! [link] [comments]  |
| Posted: 19 Aug 2020 10:36 AM PDT New to this federal student loan thing (For my daughter's college education). She has received a federal subsidized loan. We finally got the details in the financial details as follows: Loan - $3500 @ 4.21% over 81 months = $4048 total payment with Interest and Finance charges = $548 over the life of the loan. Estimated monthly payment = $50 so does that mean the government will be paying that interest amount while she is school (i.e. assuming this is the only loan, she will only pay back $3500, while the government pays the $548? Or she is still responsible for that amount of interest by the end of the loan (i.e. she will have paid $4048 over the life of the loan)? I don't understand what it means for the "government to be paying the interest" while you're still in school. thanks. [link] [comments]  |
| Does Great Lakes count for the new forebearance that was extended until 12/31/20? Posted: 19 Aug 2020 01:51 PM PDT I just saw fafsas twitter and they said forebearance is extended. But when I went to Great Lakes they haven't updated their website. I also called and the lady said if that's what the fafsa people have tweeted they are probably waiting on word to hear from them. But she also said I should pay whenever I can. I might just to keep the interest down. [link] [comments]  |
| Advice on student loan repayment strategy Posted: 19 Aug 2020 07:27 AM PDT I have about 7k remaining at 5% (this has not dropped to 0% during COVID) and I have ~90k remaining at 6.8%, but this has been dropped to 0%. I'm assuming that the student loan deferrals will go through until the end of 2020. Should I pay off the 7k first since it's still actively accruing interest, or should I tackle the 90k loan? I'm also planning on refinancing once the deferral is over and I can get a rate ~3-4%. [link] [comments]  |
| Random Transactions on my Sallie Mae Account Posted: 19 Aug 2020 09:29 AM PDT Hi all! While throwing an extra payment toward my private loans, I noticed in the Activities tab recent transactions that I (nor anyone I know) submitted, all occurring on the same date August 12th. A large payment of $8,002.22 (of type "N/A") was entered toward one of my private loans. The next activity is a transaction of -$38.57 (again of type "N/A). Then there are two more activities that cancel out the previous two. A transaction of +$38.57 (type "N/A") and then a transaction of -$8,002.22 (again type "N/A"). Normally the type will say something like "Accrued Interest" or "Auto Debit Payment" or something along those lines, but "N/A" doesn't really tell me anything. It was all put toward the same loan (which currently has a balance of $7,874.48 and a variable rate currently at 8.875%). Was someone accidentally paying off this loan and then cancelled their transaction when they realized it wasn't theirs? Is this a potential scam that was trying to take place? I've never had this happen before, and nothing has happened since. Thanks for any and all help! [link] [comments]  |
| Posted: 19 Aug 2020 08:12 AM PDT I have federal student loans and this is the first time receiving this voicemail. It wasn't a robot, it sounds like a real person, but 99% sure it's a scam. Here's the transcript: "Hi this is ___ I'm calling from the federal student loan assistance center I just wanted to go over the new programs being offered by the Department of education for forgiveness um and also take a look to make sure that you're not scheduled for a tax ____ um give me a call back the phone number here is..." [link] [comments]  |
| Posted: 19 Aug 2020 11:52 AM PDT And for those that are off it or nearly there, what were your results? If you had to redo your repayment, would you do it again, or go another route? Any reason not to go this route? [link] [comments]  |
| Why do defaulted loans bar you from literally all financial aid? Posted: 19 Aug 2020 02:35 PM PDT I basically can't finish college thanks to this...loans defaulted due to a gap year, I went back to school last semester but I can't register for this semester thanks to these defaulted loans and my parents are gonna be pissed. [link] [comments]  |
| Which loan should be tackled first? Posted: 19 Aug 2020 10:40 AM PDT Hi all, I recently refinanced a private student loan and will also be starting a new job with a higher salary next month. I just need help figuring out which would be more beneficial to pay off sooner, so all suggestions are welcome. Laurel Road: Currently: $27,257 at 4.15% interest 7 years Federal (all subsidized, payments officially start 4/8/2021)
I was considering paying off all federal loans by April so I can then focus on paying off one large loan rather than 4 loans all at once. I would basically be throwing close to 2k a month at the federal loans. I live at home still luckily and my other monthly expenses only come to around $600. For those who paid off private and federal or are currently in the same boat, did you chose snowballing or some other type of system? [link] [comments]  |
| Is there any difference between paying off one loan vs paying into a larger one? Posted: 19 Aug 2020 10:12 AM PDT My two "highest" interest loans are ~4.5%. One has a lowish 3k balance and the other is 5. Is there any advantage to knocking out the 3k loan vs paying into the 5k in terms of my minimum monthly payment? I have 6 total loans so I am thinking if they each have their own minimum that might free up x dollars to go toward the rest. Or does paying the larger one just lower the minimum that is required on it monthly. [link] [comments]  |
| Posted: 19 Aug 2020 10:00 AM PDT Hey, so I work as a customer service representative for one of the federal loan servicers, and we have been getting calls about how Cares Act forbearance eligible loans are getting reported as late or having balances increasing. This is NOT supposed to be happening because we're actively trying to report these loans as in good standing specifically to avoid this issue. I want to know if anyone on here is having this problem, and if they have been able to get it resolved? [link] [comments]  |
| Posted: 19 Aug 2020 09:57 AM PDT I have private student loans I re-financed with Earnest. My hours were cut at work do to COVID and the unemployment is very slow to come in. So I paused my payments with Earnest. Unfortunately they told me when I did this, that when the payments start again I will have to pay extra interest on top of my regular monthly payment. That's fine for 2-3 months worth of interest payments, I guess, but i don't know how long this will last. What if it's a year? Am I really expected to make that much extra interest payments when they unfreeze it? I know we're talking about a private loan company here, so am I just at their mercy? Anything I can do? Why can't they just extend my loan a few extra months?? You'll still get your money!! Going to college was the biggest mistake I've ever made. Thanks [link] [comments]  |
| Does the interest free loans until the end of the year count toward people still school? Posted: 19 Aug 2020 09:05 AM PDT I'm going to be taking out loans for this semester but I was wondering if the interest free loans count towards me as well. [link] [comments]  |
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