Personal Finance University took back my scholarship after it had been credited towards tuition and billed me for the difference |
- University took back my scholarship after it had been credited towards tuition and billed me for the difference
- Are there other ways to invest in real estate, other than outright buying properties and renting them ?
- Someone owes me money for electronics I sold them. How do I get them to pay me back?
- Is it a good idea to be paying down my student loan debt while it's not accruing interest?
- 15 year mortgage or live like a king at 30 year?
- Restarting career in my 30s
- Is it weird all my previous employers have merged or gone bankrupt on a resume?
- Tow yard sent bill for $2500 on car that was previously sold
- What happens if my retired parents with no assets stop paying credit card debt?
- Did anyone ever codify the Flowchart? I'll do it.
- I'm a foreigner who left money to a US bank (Citibank) years ago and unable to access the account now. How can I reclaim the money?
- Credit card company and airline both provided a credit, any advice?
- VTI vs. VTSAX in a brokerage account?
- Got a new job while WFH out of state, what address to put on my new I-9?
- What (if any) advantage for house being in a trust?
- How should I apply the spending flowchart if I have a pension?
- Best Way to Pay For Infertility Treatments
- Debt sent to debt collector even after proactively contacting and resolving.
- My dad is $80,000 in debt and I'm not quite sure where to start.
- H e l p - my manager is screwing me over
- MOving Out of my Parents home
- IRS back taxes owed
- How do you deal with regret of missed opportunities and poor money management?
| Posted: 22 Aug 2020 09:23 AM PDT I really need some help figuring out what to do about my financial aid situation this year. I currently attend grad school at a very expensive private university in Southern California. The annual tuition is now about $59k. For the two prior years, I have received a merit scholarship from my department itself. These scholarships were promised to me and many other students at the time of our acceptance and we were told we would continue to receive them each year if we maintained a 3.0 GPA. Additionally, we were told that the top performers in school each year would get up to a 20% increase in their scholarship the following year (this is important later). Fast forward to the hellscape that COVID has created for students… The school emailed us on August 6 (yes, less than 2 weeks before school starts) to tell us that no one's scholarships would change at all this year due to the coronavirus…? So people who did poorly and the high performers got the same amount as the previous year. This was frustrating as many of us work very hard to get better scholarships and usually those who don't work as hard are from a wealthier background so it is less relevant for their financial future. It was also frustrating because we had no idea how much aid we were going to get until just before the start of school so we could not prepare or know how much debt would be incurred. On August 11, I got my scholarship offer from the school which stated my merit scholarship was $33,705 this year and my scholarships would be distributed as follows: Fall Term: $21,852 Spring Term: $21,853 This number adds up to $43,705, but that made sense to me since I had won a $10,000 scholarship earlier this year and I knew it would be credited to my account. So Merit Scholarship + Essay Scholarship = Total. This amount showed up in my student billing account as well and the federal student loan was disbursed to cover the remaining cost (~$8,800). I never got this money; it is just automatically calculated and sent to the school and then the debt is attributed to your account. Here's where it gets tricky: $33,705 is quite a bit more than my merit scholarship from last year. Well more than a 20% increase as well. Like I said earlier, the school notified us that we would not be getting any increase so this was confusing. However, on my Financial Aid account, it looks like my Merit Scholarship consists of the usual grant as well as two other scholarships that I was nominated for by faculty totaling ~$10,000. So the actual grant was ~$14,000 which is actually far lower than my grant last year ($22,900). But I didn't question it since I was satisfied with how much aid I had gotten for this academic year. So to break down what scholarships I got this year it looked like this: [department] Grant $14,700 Faculty Nominated Scholarship 1 $14,400 Faculty Nominated Scholarship 2 $4,600 Essay Scholarship $10,000 Total ~$43,700 Yesterday morning I woke up to an email that said "Please log in to your Financial Aid account through [school's website]. Your 2020-2021 Financial Aid Summary was recently updated and is now available online." Thinking this was probably about signing the Master Promissory Note (as it usually is) I log in, but see that they have suddenly reduced my grant by $10,000 exactly.So now my scholarship award package looked like this: [department] Grant $4,700 Faculty Nominated Scholarship 1 $14,400 Faculty Nominated Scholarship 2 $4,600 Essay Scholarship $10,000 Total ~$33,700 Since this happened after my federal student loan disbursement, that means I am $5,000 short for this semester. The school then sent me a bill for the $5,000 with a late fee of $50 since I "missed the deadline." I called the financial aid office who referred me back to the department I am enrolled in. No one there picked up because they are not in the office I guess? I emailed the coordinator and they said that the first number was a clerical error. I am not sure what to do here. I don't have $5,000 and all the places I have looked to get a loan won't loan that money out to someone like me for less than like 12% interest. Also, I feel that the school is being scummy here and that retroactively taking back scholarship money that was offered in my award letter is unethical (maybe illegal?). If anyone has advice, that would be greatly appreciated. EDIT: Many people have been telling me to save all the documentation of the original offer. I have the original offer letter saved of course. Luckily, before they took back the $10k, I screenshotted my account balance to send to my mom so I have proof that the money was there. Also, my billing statements show that they deposited that money on the 14th and then withdrew it yesterday so I have screenshotted that as well. I have tried to get in touch with the director of my program as he is usually pretty responsive, but I don't expect to hear anything until Monday probably. I will keep everyone updated. [link] [comments]  |
| Posted: 22 Aug 2020 06:02 AM PDT As the title says I'm wondering if there are other ways to invest in real estate other than having yourself purchase properties and flipping/renting them. I guess something similar the Fundrise platform or I have also heard you could become an investor for private lenders. [link] [comments]  |
| Someone owes me money for electronics I sold them. How do I get them to pay me back? Posted: 22 Aug 2020 07:32 AM PDT EDIT******* I truly appreciate all the help, advice and criticism I've received just in the last few hours. I can't thank all of you enough, seriously. Just so we're clear, I've had this business for a year and have only allowed for this one client to make payment plans. Otherwise, this isn't how my business operates my any means at all. This was a client I initially had done business with previously who seemed genuine to some extent. I don't believe this person would've stopped making payments had COVID not hit because he was making payments beforehand, although he was late at times. I knew that small claims court would be an option (this was something I had looked into before posting this) but I just wanted to check out any other opinions as to what I could do. Anyway, I've definitely learned my lesson. I simply wanted some opinions on the situation Ihave an electronics company. I had a client reach out to me who wanted to purchase a PS4 and a MacBook. I went ahead and had him place a down payment and structured a bill of sale stating that he'd pay me X amount every single month until his balance was paid off. He was being slow with payments for a while, however, he still made payments and was up to date on his balance until covid hit. He owes me another $500. Around May, he contacted me apologizing for the delayed response and stated that he'd make sure he would continue payments when his job starts back up due to the decrease of covid cases in our area. I have not heard from him since. I have been sending him texts and trying to work out a deal with him since May with no response. I am very polite and understanding with my approach, however, he no longer can use covid as an excuse. I think he's just avoiding me at this point? But he hasn't blocked me. As previously stated, I have a bill of sale that he signed, with his state ID number on it. How should I proceed with this? Thank you [link] [comments]  |
| Is it a good idea to be paying down my student loan debt while it's not accruing interest? Posted: 22 Aug 2020 07:54 AM PDT I have around $22,000 dollars in student loan debt. I am fortunate enough to be able to keep making the regular payments on it while the interest has stopped accruing the last few months. However, my SO and myself are also saving for our first home. Is it best that I keep paying down my student loan debt now or should I stop paying for it while I don't have to and try to save for a home faster? [link] [comments]  |
| 15 year mortgage or live like a king at 30 year? Posted: 22 Aug 2020 10:16 AM PDT I know this question is asked a lot and the general consensus is to go with 30 year but pay like a 15 year. My question is, with the 30 year barely being more than inflation, why not go with the longer term and just enjoy my high salary? I'm 35 with a $190k household income. I live in a medium cost of living area. I'm a federal employee, so by job is very secure. My wife has ~10 years experience as an engineer, so even if she gets laid off, she can get another job relatively quickly. What if I want to go out for steak once a week? I've spent so much time being frugal. Is it time to start enjoying the fruits of my labor? Or should I do the financially responsible thing and pay it off before my kids go to college? Kids are almost 1 and almost 3. 30 year is 2.5% and 15 year is 2.25%. Current rate is 3.75%. $5k+ closing costs. [link] [comments]  |
| Posted: 22 Aug 2020 05:53 AM PDT EDIT: Thank you to everyone who chimed in! Sorry I couldn't respond to everything, but it's getting way late here and I'm going to bed. This thread has given me a lot to think about... Throwaway for reasons. As the title says, I'm at a crossroads in my life and I'd like some perspective. The gist of it is that I'm 32 and possibly embarking on an almost total career shift, and I'm wondering if it's the right move. First off, I'm from a developing country in Asia. Right out of college in 2012 I started a career as an engineer in an equipment manufacturer in the oil and gas industry. Somewhere along the way I transitioned into an analyst role. This is important for a couple of reasons, because:
As you might imagine, the move was huge for me financially. I went from earning roughly $15,000 to $70,000 overnight, with a raise to $82,000 after 2 years. I was pretty frugal even with this windfall, so I saved up where I could and have about $138K ($89K in cash and investments + $49K 401K) to show for 3 years of this. As much as I had plans to keep this up for a few more years and then head back home with the weight of my USD savings with me, I lost my job a few months ago and I'm now back home in Asia. Still, my current savings put me in a if not secure, at least comfortable position so I'm not worried about going hungry, since the dollar goes much further here. It won't last forever though and I'm back in search for a job. However remember point 1. up there? Any analyst job opening I find requires a skillset I do not have, and although I have picked up the basics I do not have the requisite practical experience expected. Which brings me to my current situation, where I've been offered a role in a big accounting/consulting firm. I applied for this role because I believe it's one I can pivot my career on and develop some marketable skills beyond the O&G world, and it may perhaps lead me to more consultant type roles in the future. The catch here is that the pay is low, roughly the same $15,000 I was earning 3 years ago prior to my international move. I haven't accepted, primarily because of the low pay. At this stage, many of my peers are way ahead in their careers with the pays to show for it. I know friends who are making 3x what I've been offered, and it's frankly depressing to know I'll be playing catchup with me possibly working another decade to be where they are today. What are your thoughts on where I go from here? I could continue hunting for jobs, but the market is horrible now and I'm lacking in the role I'm most accomplished in. I could go back to school, but local colleges do not have the best ROI or prestige and international schools are both expensive and almost impossible to apply for due to the pandemic. Any advice is appreciated! [link] [comments]  |
| Is it weird all my previous employers have merged or gone bankrupt on a resume? Posted: 22 Aug 2020 10:06 AM PDT I'm just re-tuning my resume but outside of my current role when I look through it, pretty much every position I've held the business was purchased by another company or has gone under. When HR encounters a resume littered with "dead ends" calling for verification how would that reflect on me? How do they determine my resume is not fabricated? The entities no longer exist so I'm assuming neither does my employment there. Just curious Edit: auto tagged under debt. It's more employment than anything? [link] [comments]  |
| Tow yard sent bill for $2500 on car that was previously sold Posted: 22 Aug 2020 06:23 PM PDT So my friend was gifted an old car that didn't really work and wouldn't pass smog so it was just collecting dust. He never even got it registered in his name. Then some chick offered him $400 for the car and he sold it to her, signed the pink slip over, but didn't get her to sign a release of liability with the DMV... so fast forward a couple months and he gets a notice from a tow yard saying that he owes $2500 because that car has been on their lot for over a month. The girl is dodging his calls and is most likely a drug user. Is there anyway out of this for my friend or is he screwed? (We're in California btw). UPDATE: Turns out my friend never gave the pink slip to her when she bought the car. She just handed him $400 and said "don't worry I'll take good care of it." He was just now able to get ahold of her and asked her if she would sign the release of liability and she said YES. She also said she wants the title. Mind you - she has no clue that the car has been towed and sold by the tow yard already. I'm trying to advise my friend to not have her sign anything because now he's the one trying to pull a fast one over her. Fraud? I'm guessing this chick is heavily involved with drugs. [link] [comments]  |
| What happens if my retired parents with no assets stop paying credit card debt? Posted: 22 Aug 2020 11:52 AM PDT My parents have a substantial amount of credit card debt (~$30K). It is all in my dad's name. They are receiving social security but have no other income and have no assets except for a 10 year old car that is paid off. They live in a rent-stabilized senior apartment in NYC. My dad recently stopped making all payments on his CC, reasoning that the monthly payments would not pay down the debt and he would be better off not paying it. I recently found out about this and am concerned what it could mean for (i) potential garnishment of social security benefits, (ii) whether they can dip into my parents' checking account. I suggested to my dad that he file for bankruptcy but he is worried about what that would mean for his eligibility to remain in the senior apartment (but I figured his credit will be decimated by nonpayment of credit cards anyway) and he does not want to pay for an attorney. He went in for a consultation and was quoted ~$3500 and he is also concerned that he might be scammed (the attorney asked for his bank/CC info and he is worried about handing it over). I may just pay it for him but would appreciate thoughts on this. [link] [comments]  |
| Did anyone ever codify the Flowchart? I'll do it. Posted: 22 Aug 2020 11:27 AM PDT Hi there, big time fan of the The Flowchart. I was lucky enough to be shown it very early on in my career and honestly I wish there were more steps beyond the current one. I'm itching to make a web application where you enter in your debts, income, blah blah blah, and it will tell you where you are within the flowchart and what your next steps are. Questions
Thanks for taking the time to answer my questions! [link] [comments]  |
| Posted: 21 Aug 2020 10:51 PM PDT (ESL speaker here, sorry for bad English.) I deposited a significant amount of money to Citibank in the US years ago, and left the US. I intended to come back there within a year or sooner, but the plan didn't happen. I wish I acted then immediately, but that also didn't happen. Life happened instead (and I'll admit, procrastination, too). I struggled quite a bit with life and health, although my financial situation has not been that desperate. Fast forward 8 years later. I thought internet banking would be the solution, but I lost access to it after failing to comply their request to update my mailing address, apparently. The account itself seems alive - I still receive emails from them regularly. I just cannot log in to their website anymore. I called Citibank a while ago (more than two years ago, in fact), they eventually sounded like they were convinced that I was the real account holder, and said they would send me a new card with which I will be able to reactivate the account - I haven't received it. I'm a Japanese national and living in Japan. Citibank has a branch in Japan, but when I called them, they didn't want to help me saying that their branch serves business customers only. (That was pretty much the entire conversation. 'Personal or business' was the only question they asked me.) I have no permanent address in the US, no relative & no close friend living there. Now with COVID restrictions, I don't seem to be able to physically come there anytime soon, at least not that easily. I believe the amount of money I left was within the 5k-10k USD range, and I think I could spend some of that to resolve the situation. What would be my options? [link] [comments]  |
| Credit card company and airline both provided a credit, any advice? Posted: 22 Aug 2020 06:27 PM PDT Long story short, booked a flight to Ireland, travel gets shut down and I initially try getting a refund from the Irish airline which refuses so I file a claim with the bank. Bank takes a while to review, airline cancels flight shortly after so they give me a credit on their rewards page for another flight but the bank also refunds me. Any issue with this? Will the airline just cancel the reward credit? From US btw. [link] [comments]  |
| VTI vs. VTSAX in a brokerage account? Posted: 22 Aug 2020 06:36 PM PDT Looking to open a taxable brokerage account for a long-term "hold" investment. My strategy is to continually add funds once every few months or once a year, and do not plan on selling/profiting/incruing capital gains until much later down the road (unless I need to). Would VTI or VTSAX be better in this case and in the current market? Seems like I am reading conflicting reports on which may be more ideal for a long-term investment strategy and if there's any supposed tax differences. [link] [comments]  |
| Got a new job while WFH out of state, what address to put on my new I-9? Posted: 22 Aug 2020 01:48 PM PDT Hi all, I usually live in NYC but for the duration of the last 5 months, since working from home, I've been at my parents house in Florida. A friend is subleasing my NYC apartment from me for the rest of the year, and possibly well in to 2021. I am switching jobs, starting a new job on Monday. When it comes time to fill out my new I-9, since I'll be in FL for the rest of the year, can I put Florida on my I-9? The company is based in NYC, but I ask because my paycheck would be much higher if I did not have to pay NYC taxes. Would I owe on taxes come next April if I do this? even if I'm not living in the city and haven't since I filed my taxes for 2019? Thanks for any advice! [link] [comments]  |
| What (if any) advantage for house being in a trust? Posted: 22 Aug 2020 12:24 PM PDT I was looking up some new homes around me on county site to see what they were sold for. I saw a handful that said smith living trust etc. With older folks I thought that was common, but I noticed one house where I've waved at them several times is they are a younger couple. Just curious if/what the advantage is [link] [comments]  |
| How should I apply the spending flowchart if I have a pension? Posted: 22 Aug 2020 12:22 PM PDT I have a pension to which I contribute roughly 7% of my pre-tax income. My employer (public sector) also offers a 457 plan with no match. Should I just contribute an additional 8% to the 457 to reach 15%? To me that seems excessive since my pension alone would offer me a comfortable retirement, so maybe the 15% guidance in the flowchart wouldn't apply. I'm currently 30, and I want to contribute to my 457 and increase that as time goes on, but I also have a personal brokerage account which I can invest more into. How should I prioritize these two investment accounts in my situation? I already max out my Roth IRA and I have an emergency fund. My mortgage is my only debt. [link] [comments]  |
| Best Way to Pay For Infertility Treatments Posted: 22 Aug 2020 04:04 PM PDT Hi there, My partner and I have recently gone through a process by which it has been discovered that it will be very difficult if not impossible for us to have a child naturally without the assistance of in vitro fertilization therapy. While we are not particularly looking to have a child under our current circumstances, there may be a time element which would make the possibility of egg retrieval for later use increasingly difficult, and as such we are looking into beginning IVF treatments in order to obtain viable embryos for storage and potentially later use. As some may know, these treatments can be incredibly expensive (~$20k for a series of three rounds, not including medications which are several thousand more), are not covered by most, including our, insurance plans, and most, including our clinics require payment up front. We are in a fortunate position to be able to afford these costs in the long run but I was wondering if anyone had any particular insight on what the best way to go about an expense like this would be. We have the cash on hand (my partner received a life insurance benefit for a parent who passed away a few years ago, and has not invested or touched it since) though it comprises the bulk of our liquid assets. We both have credit scores over 800, and could either get a medical loan through a bank (APRs seemingly between 3-5% right now) or through services that seem to exist solely for financing IVF (interest rates seem higher and I can't find a benefit to these other than they likely have lower requirements for disbursement). In last month our income has risen to the mid six figures, though we live in a high tax state and I have just finished about a decade of professional training. As such my take home pay after student loan repayments is enough to continue to live a modest lifestyle and save for an emergency fund which we do not currently have, but not so much that I could afford a lump sum like this with a single or even several paychecks. In my mind, the best way I have come up to pay for this would be to increase the current limit on my credit card (which currently has no balance), charge the expense to that to get reward points, use the cash on hand to pay that balance off immediately, and then replenish that amount over the course of six months to a year. I do not know if there are any tax advantaged strategies like putting the money into an HSA account first and then paying for it or deducting it initially as a medical expense (part of this stems from the fact that my taxes will look significantly different this year for the first time in my life). If you've read to the end of this, I really appreciate it, and if you have any ideas or advice I'm even more grateful. Thank you. [link] [comments]  |
| Debt sent to debt collector even after proactively contacting and resolving. Posted: 22 Aug 2020 12:22 PM PDT So my wife was at an urgent care 2 years ago and they sent the bill to her last month. She tried to contact the urgent care and they redirected her to their billing apartment. She tried all means to contact them but either failed or got no response - she called them several times but no one answered, she sent them multiple emails but no response. Note that this should be paid by the insurance she had at the time and that's why she needs to clarify that with them. And yesterday we just got a letter from a debt collector saying it's been transferred to them and want us to pay. Wondering what is the suggested action here - if we pay them directly will it still impact her credit score? This is our first time dealing with a debt collector since we've been paying all debt on time, so any advice would be appreciated. [link] [comments]  |
| My dad is $80,000 in debt and I'm not quite sure where to start. Posted: 22 Aug 2020 08:03 PM PDT My dad is at least $80,000 in debt and has finally accepted my offer to help, including making me his POA. I don't know the exact total, since I don't have access to online banking/statements for one of the accounts yet. His debts are as follows:
He does make $84,000 per year, but because of the amount of debt he can only make the minimum payments most months and thus he barely gets ahead. For example, his payment for card #2 had $420 go to interest and $220 go to principal. His statement estimates he will pay it off in 32 years. Is bankruptcy the best option here? His credit score is already godawful (high 480s) and he already has a mortgage, so I don't see what more he has to lose. [link] [comments]  |
| H e l p - my manager is screwing me over Posted: 22 Aug 2020 05:11 PM PDT I need help y'all - I work in a 24 hr emergency vet clinic and I've been overnights for 3 years (9p-7a) my manager has already denied my request for a meeting to talk about a raise as "she's far too busy to discuss payroll with everyone and talk with the practice owner about it" Today, she sent me an email basically stating that because the overnight people have "overlapping time off requests" that SHE APPROVED I will have to work day shifts( which I get paid the least out of everyone on days) and I will also have to TRAIN newer people. How do I professionally respond to that, while also saying I won't work day shifts for the amount I'm currently making? Thanks in advance [link] [comments]  |
| Posted: 22 Aug 2020 07:19 PM PDT I am 32 years old and I am currently in school but I graduate in Dec. I gave myself a deadline on moving on. I am currently looking for a part time job that works with my school schedule to save up 4k in my savings and start apartment searching in November/Dec. My deadline is February. Any advice? [link] [comments]  |
| Posted: 22 Aug 2020 07:33 AM PDT Does anyone know about the IRS forgiving back taxes if they haven't been paid back after 10 years. I owe taxes from 2006, 2007 and 2008. I thought I had read something that taxes would be deemed uncollectible after a certain time period. Thanks [link] [comments]  |
| How do you deal with regret of missed opportunities and poor money management? Posted: 22 Aug 2020 02:05 PM PDT Context: 24 years old about 50K liquid in Canada. I just started paying attention to my finances and am meeting with a financial advisor this week to go over a plan for investment. I am trying to get on track with saving and investing properly but my mind is consumed with regrets from not getting a handle on this sooner. If only I had taken this seriously when I started my career and even before when I was making a decent amount of money in Uni how much further ahead could I be right now? My mind is just constantly consumed by this question... Anyways, I am just curious if anyone has had similar feelings and how they have dealt with them. [link] [comments]  |
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