Teacher Loan Forgiveness—Does the Dept. of Ed. send you a letter? Student Loans |
- Teacher Loan Forgiveness—Does the Dept. of Ed. send you a letter?
- Should I take out an unsubsidized loan of 2k per year?
- Loans question
- Very good credit, looking into small loan to cover my living expenses in my last year of grad school but unsure about my options
- Two Loans on EdFinancial: How do I focus future contributions on the highest interest loan?
- Mom Refinancing Parent PLUS Loan Without Co-Signer?
- Student loan for a freshman and parents with bad credit
- Can somebody please help me figure this out?
- Grad school with bad credit.
- Does dropping to part time as a grad student effect a direct unsubsidized loan?
- Federal aid refund
- Paying off student loans tanked my credit score. Is this normal?
- teacher loan forgiveness postponement
- Devising an attack plan...
- do i need to do my annual re certification for IBR even if the loans are in forbearance till december?
- Refinance and closing costs
| Teacher Loan Forgiveness—Does the Dept. of Ed. send you a letter? Posted: 22 Aug 2020 11:04 AM PDT I was granted $5,000 in Teacher Loan Forgiveness on my first try! Woohoo!!! Illinois will give me another $5,000 if I forward them my "Notice of Teacher Loan Forgiveness eligibility." However, the Department of Education has sent me nothing. The only notice I received was from Great Lakes, my loan servicer. I've been waiting a few weeks now for this mysterious letter to arrive. Did anyone get an official notice in the mail from the US govt? Should I just send in my application with the letter from Great Lakes? I've scoured the internet and haven't found any discussion of this. [link] [comments]  |
| Should I take out an unsubsidized loan of 2k per year? Posted: 22 Aug 2020 09:05 PM PDT I'm sorry if this isn't the place to post, but no one in my family has gone to college and my parents don't know much about loans, especially student ones. So, my school (UMD) offered me an aid package of $5500. $3500 of that money is subsidized and $2000 of that money is unsubsidized. According to FAFSA, the interest rate for the unsubsidized loan is 2.75%. My estimated annual cost at this university is around $20,000. I'm also choosing between the major of computer science or elementary education, so it's also kind of unpredictable on whether I am able to pay all of it back quick enough or within what time span I'm able to. Should I take the $2000 of unsubsidized loans? Is this a good idea? Can someone also clarify to me whether an unsubsidized loan adds interest per day? Or do the unsub. loans add interest per year/months? It seems like it's per day? [link] [comments]  |
| Posted: 22 Aug 2020 11:25 PM PDT Hello all, I am currently navigating my way through paying for grad school and trying to figure out the best plan of action with my finances. I'd like to get some guidance as I am a first generation college student. From undergrad I currently have subsidized/unsubsidized loans totaling $17,386.01. Currently on forbearance due to COVID-19. I qualified for the grad plus loan $37,634 and Unsubsidized loans totaling $20,500 so $58,134 for the year. The entire cost is the program is about $70-$75k. The program length is 18 months and it is broken down into 7 terms averaging about $10,000 per term not taking into account expenses for books & supplies. I plan on working full-time still as an RBT to gain the necessary hours to be able to graduate and sit for the BCBA exam. I don't necessarily need to borrow more for living expenses or transportation. Would it make sense to max out my grad school loans to pay off my undergrad loans then return the remainder of the unused amount? Or just use what is required for tuition and supplies while paying on my undergrad loans? Thanks in advance for your help! Please bear with me as I am trying to figure this all out. [link] [comments]  |
| Posted: 22 Aug 2020 07:25 PM PDT Title says it all! I am fortunate to have received a full-ride scholarship for undergrad. Because my parents did not have to help for my undergrad, they wanted to help contribute to most of my grad school expenses (which I am beyond grateful for). In this last year of school, I will need to take out living expenses for myself- around 13,000 from September until May. I am hoping to pay off this 13,000+ relatively soon when I start working as an associate dentist next year. I've read up on direct unsubsidized loans and know that is the safest option for me to pursue for this smaller amount of money in terms of potential repayment plans and generally having very low rates. I also know that 13,000 will be completely covered by the direct Stafford unsubsidized loan if I'm approved. This will be at 4.30% interest with these historic lows. However, I do have a pretty good credit score (774 with Vantage Score, 781 with Fico) and a credit history of 7 years with no missed payments. I keep seeing fixed interest rates for grad loans from private servicers at around 3.5% for students with credit in my range. It's hard for me to weigh the advantages of the safe federal option against some of these lower-interest private options. A lot of the private options I was looking into have similar deferment options and no pre-pay penalties, too. I guess I'm wondering if the safety of an unsubsidized federal loan outweighs the monetary benefits of a getting a lower-interest fixed rate from a private servicer. I know there have been similar threads asking this same question, so if I need to delete this, I can. Thanks in advance, anybody willing to chime in! [link] [comments]  |
| Two Loans on EdFinancial: How do I focus future contributions on the highest interest loan? Posted: 22 Aug 2020 09:17 PM PDT Title says it all. I have two loans on EdFinancial that are roughly $19,000 (Int: 6.0%) and $21,000 (Int: 5.3%). I have made the minimum payments for about a year, but once the forbearance stops I hope to contribute more aggressively. However, I have no idea how to focus the extra $$$ on one particular loan since up to this point I haven't had to consider that. [link] [comments]  |
| Mom Refinancing Parent PLUS Loan Without Co-Signer? Posted: 22 Aug 2020 07:53 PM PDT Mom recently refinanced her Parent PLUS Loan with a private lender for lower interest rates and monthly payments. I co-signed which is now causing some difficulties for me, so we are looking at refinancing again without a co-signer, if possible. Has anyone done this? Is it possible? Any private lender recommendations? For reference, she makes around $72k/yr and her credit is above 740. Loan amount is for around $160k (yes I know it's absurd to pay this much for college, pls don't berate me lol. Mistakes were made. Also I pay half of her monthly payments along with mine so pls don't call me a terrible child!!! I'm trying to right my wrongs ok) [link] [comments]  |
| Student loan for a freshman and parents with bad credit Posted: 22 Aug 2020 11:08 PM PDT What are the options? My grants and federal loans don't cover all the costs. Financial counselor is no help. Parents tried college ave and other options. All denied. 😵 Any ideas?? [link] [comments]  |
| Can somebody please help me figure this out? Posted: 22 Aug 2020 03:25 PM PDT This is really complicated so I'm sorry because no one in my family has ever gone to college and I'm trying to figure this all out on my own. I posted this on the FAFSA reddit as well. I have ~$8,000 in loans at the moment and I want to transfer schools just for this year because I don't have the money to continue at my 4-year university right now so I am applying for a 2-year. I plan to come back to the 4-year once I have more money saved up and a better job next year. Do I have to start paying off the loans from my 4-year uni now? Or do I wait until I'm graduated? Does being at a community college affect that? I really don't know when to pay for my loans or what the hell is going on cause it's all so confusing. Also does being a half-time student change anything? [link] [comments]  |
| Posted: 22 Aug 2020 03:19 PM PDT I have bad credit (500s) and I've been told I can still get a Loan for school. I paid off my undergrad, and I'm curious if anyone can give me advice on how to go to grad school if you have bad credit and need financial aid? I can't really rely on scholarships, though I will apply for some. Thanks [link] [comments]  |
| Does dropping to part time as a grad student effect a direct unsubsidized loan? Posted: 22 Aug 2020 05:10 PM PDT Grad student. Would dropping to 6 credits (part time) effect my loan or financial aid refund? I'd assume that'd make the refund larger? [link] [comments]  |
| Posted: 22 Aug 2020 10:07 AM PDT Can I use a private loan to pay my tuition even if my federal aid has been credited to my bill and receive the federal aid as a refund from my school? [link] [comments]  |
| Paying off student loans tanked my credit score. Is this normal? Posted: 22 Aug 2020 12:13 PM PDT I paid off my student loans last fall. My initial loan was 10k. By the time I paid it off I had probably made 12k in payment and had 4k left that I paid off in one fell swoop. Before I closed the last 4k of my loans, my credit score was 740ish. The day after my last loan payment went through, my score dropped to 450. I went online and saw that a small drop in your credit score is normal and you usually recover quickly. It's been almost a year and my score has risen by about 100 points but is no where near my original 740. Is this normal? How can I get my life back? I cant even get an apartment like this. [link] [comments]  |
| teacher loan forgiveness postponement Posted: 22 Aug 2020 02:54 PM PDT Hello, I'm a new teacher in Washington DC. I know that if I teach for five years in a high need school and in STEM, I'll get $17,000 in loans forgiven. I have $22,000 in loans. I have a monthly payment of $200.00 starting in December. If I don't postpone/defer this payment, I'll pay $12,000 in loans. 22,000-12,000 = 10000. I'll only get $10,000 forgiven. If I can somehow defer for 1-2 years, I'll eventually have to pay less b/c I'll get my teacher loan forgiven. Any ideas on how to postpone/defer my loan payment? Thanks! [link] [comments]  |
| Posted: 22 Aug 2020 08:45 AM PDT Hi r/StudentLoans, I've been agonizing about how to approach my student loan payoff which has prompted me to make this post. (Disclaimer: this is my first ever reddit post) A little background: Went to a private university for undergrad and received some scholarship but essentially financed it with student loans, both private and federal. I graduated during a recession and was hard pressed to find work, eventually moving to a HCOL city which was the beginning of a rocky start to a career. During that time, I used credit cards to bridge the gap between how much I made and how much I spent. My loans went in and out of deferment/ forebearance, and I was paying only minimums and at some point started IDR. They were largely ignored while in survival mode. Fast forward some years, I have been working for my employer for 6 years, have good benefits by most standards, and make a decent salary (74k gross) where I have now been able to get out survival mode and make better long term decisions with my money. Between 2018 and Dec 2019, I was about to pay off about 12k in credit card debt using the avalanche method. The first half of 2020 I have focused on saving and now have about 15k in savings (mostly made possible by coronavirus). I now think I'm ready to take on my student loans. Here's some pertinent information: - I'm in my early 30s, not married, no kids, pay rent & living with SO, no car. - I am currently enrolled in a graduate program part-time which is paid for through tuition benefits provided by my employer. I should graduate in December 2021. As a result, my federal loans are in deferment. This allowed me to focus on my credit cards last year. - My employer contributes 6% to a 403b, whether I contribute or not. I have been contributing somewhere between 6 and 8% for the past few years. I am thinking of decreasing my contributions to pay down my loans - My living expenses are already quite low, and have decided to cut a few excess things out of my budget in preparation to go into SL debt payment mode - As of this week I owe ~87k in student loans Here is my loan breakdown: Private Loans (in repayment):
Federal (currently in in-shool deferment) - all are FFEL stafford loans at 6.8% unless otherwise stated:
Please note that the mygreatlakes is applying the CARES Act and right now these IR are 0%
Perkins Loan (sub): $6291.56 @ 5% My longterm goal is obviously to pay these off eventually but my short term goal is do the most absolute most damage in the next 17 months before I graduate and these loans go back into repayment. My monthly payments will shoot up from about $500 for just my private loans up to $1050/mo once my fed loans com back into repayment. Additionally, I hate (HATE!) Navient, and want nothing more than to get my loans from their clutches. Anyway, after some budgeting, I think I will be able to throw about 1100-1400 per month at my loans (Michael Jordan crying face) and I'm thinking my plan is to essentially try to pay off my Navient unsubsidized stafford loans first. My questions are:
Anyway I know this is already super long. I can answer any additional questions should they come up. Would love to hear any advice! [link] [comments]  |
| Posted: 22 Aug 2020 01:39 PM PDT |
| Posted: 22 Aug 2020 06:25 AM PDT I am using a refinance to pay off my student loans. Doing so has increased the points I have to pay because of the value of my home. I can't figure out if the Fannie Mae program allows them to increase my closing costs assuming I pay off the whole loan and the lender makes a direct payment to the student loan bank? Thanks. [link] [comments]  |
| You are subscribed to email updates from /r/StudentLoans: Reddit's hub for advice, articles, and discussion about educational loans. To stop receiving these emails, you may unsubscribe now. | Email delivery powered by Google |
| Google, 1600 Amphitheatre Parkway, Mountain View, CA 94043, United States | |
No comments:
Post a Comment