We have our official answer..the covid extension will count for pslf Student Loans |
- We have our official answer..the covid extension will count for pslf
- Finally paid off student loans
- Down to 25k from 57k after 3 years
- Help me understand: CARES Act extended to Dec. 31, 2020???
- Panicking about MPN references
- Principal only payment?
- Can somebody please help me I’m new to this!
- Does 0% interest apply to public loans not in active repayment?
- Is there a limit to grad plus loans?
- SoFi Loan Refi - Positive Rate March Experience
- Question about Endorser on Grad Plus Loans
- In between a rock and a hard place
- Nursing school loans
- Is this NSLDS site legitimate?
- Switch repayment plans instead of recertifying?
- American going to grad school in the UK
- SallieMae is trying to screw me over. Need positivity and light. Tell me I didn’t dig myself a grave by attending my dream program and school
- Just Graduated and going into repayment soon
- GradPlus Loan Hard Inquiry Removal
- Questions about 0% Interest and Paying Back During School
- Loans & Deferral?
- What year's taxes are currently used to calculate Income Based Repayment plans?
- should I accept unsubsidized loans if I think I might not need them?
- Can I refinance only part of my private student loans?
- Was it alright to do this?
| We have our official answer..the covid extension will count for pslf Posted: 21 Aug 2020 01:32 PM PDT It appears to be a blanket extension of what was in place under the cares act. https://www.ed.gov/news/press-releases/secretary-devos-fully-implements-president-trumps-presidential-memorandum-extending-student-loan-relief-borrowers-through-end-year Now this is official guidance! [link] [comments]  |
| Finally paid off student loans Posted: 21 Aug 2020 09:21 AM PDT Just paid off the remainder of my student loans this morning after ~18 years. Started with over 110k, most of which were high interest (at the time), because my parents didn't understand the difference between unsubsidized and subsidized student loans. I still reflect back on the mental anguish that having such a large sum of debt caused - straight out of college I was paying close to 1k/mo, making $12/hr. That feeling of hopelessness was gut wrenching; I can still conjure up remnants of that just by thinking about it. Anyways, I hope this doesn't come off as boasting, it just feels great to finally be done. For those of that are still repaying, you'll be done eventually... hang in there. [link] [comments]  |
| Down to 25k from 57k after 3 years Posted: 21 Aug 2020 08:15 PM PDT Just wanted to vent/have a place to write this since I don't talk about my loans to anyone in my life really. Took out sallie Mae loans as a young teen/adult not really knowing the financial burden. Been Living at home and thankful to have a job atm but hopefully will increase my income in the future. Looking to pay everything off in the next 3 years. [link] [comments]  |
| Help me understand: CARES Act extended to Dec. 31, 2020??? Posted: 21 Aug 2020 08:00 AM PDT I saw this announcement on my loan servicing account: " On Aug. 8, 2020, President Trump directed the Secretary to continue to suspend loan payments, stop collections, and waive interest on ED-held student loans until Dec. 31, 2020. " What is an ED-held student loan? I have a DL Stafford Unsubsidized loan. Does this mean the 0% interest and suspension of loan payments will continue until Dec 31st? Or does my loan not fall into this category? Thanks! [link] [comments]  |
| Panicking about MPN references Posted: 21 Aug 2020 11:53 PM PDT I am preparing for grad school in a few weeks. Totally new to student loans and just found out about MPN references. It's last minute because I was accepted late into the program. I'm an immigrant and have no family in the US. I really want to avoid putting down my ex-spouse and former in-laws. The only other person who has known me for over 3 years is my former attorney. I am nervous about asking them. Everyone else in my new, post-married life now (landlord, friends, employer, etc) has known me less than 3 years. Advice please from you seasoned pros!!!! [link] [comments]  |
| Posted: 21 Aug 2020 07:24 PM PDT I called Fedloans today to inquire about making a principal only payment to take advantage of the 0% interest rate, and was told that so long as I have any outstanding interest I cannot make a principal only payment until I pay off all outstanding interest first. Is this true? I ask because many times I'll call fedloans and ask the same question to 3 different customer service reps and get 3 different answers. [link] [comments]  |
| Can somebody please help me I’m new to this! Posted: 21 Aug 2020 06:29 PM PDT I'm applying for a private loan through sallie Mae and I need 64k all together but they told me that they only do yearly loans so I'll need to do two 32k loans one this year and the next. What I'm confused about is how Interest works for the payments and what unpaid interest is. My plan was just to do a loan once and once I'm done with school take out a personal loan with a lower interest rate and go from there but all these terms are just killing me. Please help [link] [comments]  |
| Does 0% interest apply to public loans not in active repayment? Posted: 21 Aug 2020 04:10 PM PDT Currently in grad school and won't finish til this December. Are these loans eligible for 0% interest as well? [link] [comments]  |
| Is there a limit to grad plus loans? Posted: 21 Aug 2020 06:00 PM PDT $220k in federal student loan debt on $60k adjusted gross income. We'll never be able to repay our federal student loans with income based repayment as it stands right now. Thinking about starting a graduate program and taking all the aid offered by the government. Income will increase slightly but we still never be able to pay it all off. It's essentially free money as loans pay more than work and we'll never be able to pay it back. How is our thinking flawed? Is there a limit to Grad plus loans? [link] [comments]  |
| SoFi Loan Refi - Positive Rate March Experience Posted: 21 Aug 2020 05:53 PM PDT Hey all! It's my first time posting on reddit and I wanted to share my experience with student loan refinancing. My goals with refi were to consolidate all of my discover private loans (total of $72,000 with an average variable APR of 3.95% with 13.8 years left - just started repay last August), switch to a fixed rate, and remove my dad as a co-signer. I applied to pretty much every student loan refi company that wouldn't do a hard pull and my best rate offer was from citizens bank for 4.70% (with 4.45% with auto pay - and they offered me 4.20% if I open a checking account with them). SoFi was the next best rate at 4.912 % without auto pay which they then increase to 5.002% after a hard credit check. I was annoyed but knew they offered rate match so I tried my luck and sent over my citizens offer. I figured they would match the 4.70% rate but I got my final disclosed and the approved 4.502% which will become 4.252% with auto pay. I decided that I didn't want to deal with another checking account (which could be annoying to deal with if I refinance again later) so I am very happy they offered this rate. I am at the point that this rate will be lower than almost all of my other federal loans (one 3k federal unsub loan @ 6.8% and an $800 Perkins @ 5%) so I can focus on paying those off avalanche method before focusing on aggressive payoff of these private loans. I am so relieved to have fixed loans now - discover only caps their variable rates at 18% and mine have been as high as 9% since I have had them! Plus not having to worry about my dad being on the hook for the loans if something happens to me is awesome as well. I have a 7 year plan to pay off all $100k of student loans that remain so won't pay all of the interest anyways! [link] [comments]  |
| Question about Endorser on Grad Plus Loans Posted: 21 Aug 2020 05:49 PM PDT Hey guys I applied for a grad plus loan (bate minimum to cover tuition) and was denied due to adverse credit. My mom's husband agreed to endorse me and at then end got a page that said "approved" but then I got an email today that says my application was denied due to my credit, but says nothing about the endorser. Has anyone been through this process that could tell me what the issue is? Any advice is appreciated. I'm supposed to start school sept 8th (late admit) [link] [comments]  |
| In between a rock and a hard place Posted: 21 Aug 2020 01:52 PM PDT I currently still owe about $1200 for my Fall semester. I'm a freshmen with no income (until later in the year), no cosigner, no credit score, no anything. My parent's credit scores are absolutely horrible and they refuse to do any sort of parent plus loan. I am very stressed out about my options as I'll owe about $400 in September and I've been rejected by just about every private loaner I can think of. [link] [comments]  |
| Posted: 21 Aug 2020 05:08 PM PDT So I'm a COTA highly considering going back to school for nursing. I'd have to take out a pretty hefty loan for the program and that's the only part that scares me. I was able to earn a bachelors degree and the COTA degree with no loans (very lucky I know) so I'm new to this world and very fearful of it. My parents think it's stupid and are not on board. Any advice or insight is appreciated. [link] [comments]  |
| Is this NSLDS site legitimate? Posted: 21 Aug 2020 08:28 PM PDT I looked up NSLDS in order to get loan information. The first site that came up was the Professional access site, then a site at https://nsldsfap.ed.gov/nslds_SA/ which brings up what looks like a student access site (didn't enter any information into the site). However, I did more research and read that NSLDS Student Access was discontinued in favor of studentaid.gov, so is this NSLDS site legitimate or malicious? [link] [comments]  |
| Switch repayment plans instead of recertifying? Posted: 21 Aug 2020 08:10 PM PDT I know this is probably a dumb question, but I can't find an answer on the studentaid.gov website. I'm currently in the IBR plan (7 years into PSLF) and I want to switch to REPAYE. Right now it's time to recertify income for the IBR plan. Do I have to recertify my income for IBR now and then switch to REPAYE after my income has been been recertified? Or can I just switch to REPAYE now and my income will be certified during that process? I don't want to mess things up by doing it wrong, but can't find any definitive guidance on any legit websites. To make things even more annoying, the IRS data retrieval tool has decided to not work for the first time in 10 years, so I have to mail all this crap in (and with the USPS in the news for having problems). Sorry for getting off topic, I'm just a little stressed out and don't want to make a stupid mistake. Thanks for any help you can provide! [link] [comments]  |
| American going to grad school in the UK Posted: 21 Aug 2020 04:11 PM PDT I just graduated in May, and the pandemic has left me with no career opportunities :) I was always planning on going to grad school, just not this early on. I'm planning on applying for Fall 2021 start date. Any advice on student loans? I would prefer to keep everything through federal student loans but understand I might have to get a private one as well. Also, if I can just stick with federal student loans, will living expenses be taken into account? I'm probably going to be in London, but also considering a few schools in Scotland. I definitely don't want to take out too much money, but I don't want to worry about my finances and lose focus from my courses. Also, is it better to use university housing or find private housing? Any advice is greatly appreciated! [link] [comments]  |
| Posted: 21 Aug 2020 03:31 PM PDT So I'm applying for a fourth student loan this year through SallieMae for $60,000. I decided to use my brother again as a co-signer, who's an active duty military, because I'll get the military benefit of the interest rate being capped at 5%. He co-signed my first loan back in 2017. I did the application today and it got denied right away. It didn't even say "In Process" or pending review or whatsoever. Just plain "denied". He has good credit (700+). I tried again and added my dad as my co-signer (has the same good credit as my brother) and now the loan status says "In process" with a phone number I need to call. Basically they just want to talk to me over the phone, but it's pretty much approved. When I've used my dad, it's around 10% interest. As it is, I already owe $200,000 in private loans with SallieMae. I have a strong feeling that they just won't allow me to use my brother twice because I'd get the 5% cap on my loan, versus 10% when I've used my dad. I'm disgusted by the greed. The cost of educating myself means that I have to SUFFER for the next 10-15-20 years because I wasn't born to rich parents/family? Suffer because I have dreams and goals and standards set for myself as a human being? My major isn't in the medical or finance field, I'm in STEM. So I'll be making $60,000-70,000/year in my first year working and I'll be paying $3000/month towards my private loans till who knows when. So basically might as well starve and die. Feeling very negative right now. Could use some positivity and success stories. [link] [comments]  |
| Just Graduated and going into repayment soon Posted: 21 Aug 2020 11:25 AM PDT Hey everyone. To start off, sorry for the long post. I'm 23 & I just graduated with about 77k in student loans, which includes sallie mae private loans, federal loans, & a parent plus loan. Some of those private loans are pretty high in interest because my cosigners credit wasn't the best at the time. I have a 750 credit score now and am looking to refinance all of those loans together to get a lower rate and make just one payment. Any advice on where to refinance? What term length? I did some research on websites like credible and gradifi. From what I've seen, to pay off the loan in about 10 years it'll be $600+/month which leaves me veryyy tight on money each month or I could pay around $400/month for a 20 year term. I've talked to some people that told me to pay loans ASAP and others that say to take my time and use it to show the govt that you're in debt. I'm confused on what to do tbh so any help or advice would be appreciated and if you need more info to give advice then lmk. [link] [comments]  |
| GradPlus Loan Hard Inquiry Removal Posted: 21 Aug 2020 02:56 PM PDT I am currently in dental school and was recently informed that I will be awarded a substantial scholarship. I had applied and accepted to take out around 30K in GradPlus loan back in June thinking I would not be receiving a scholarship. The application resulted in a hard inquiry to my Equifax credit report. Since being informed of the scholarship, I have returned the whole awarded GradPlus loan. My question: Is there anything I can do to get the inquiry removed from my credit report considering that I will not be taking out GradPlus loan for the school year? Who should I be reaching out to? My reason to get the inquiry removed is to increase my odds of getting approved for a US Bank credit card. US Bank is known to be very inquiry sensitive. The credit card is perfect for my life style and daily spend. [link] [comments]  |
| Questions about 0% Interest and Paying Back During School Posted: 21 Aug 2020 10:04 AM PDT Good afternoon all! I am an incoming law student and have to take out quite a bit of loans to make this dream a reality. I was wondering if the 0% interest applies to loans taken out during the window? For example, I'm taking out both Grad PLUS and unsubsidized loans, both of which accumulate interest from the moment you take them out. Will I not be accumulating interest from now until December 31 (when the waiver ends)? In addition, I think I budgeted correctly, but if not, can I return the portion of the student loans that I don't use to the government at the end of the semester, rather than waiting for graduation to start repayment? I don't want to have that accumulating interest for the next 3 years if I don't need it now. Probably a dumb question, but I wanted to make sure. Thank you in advance! [link] [comments]  |
| Posted: 21 Aug 2020 01:19 PM PDT I am a junior transfer student with a subsidized loan. I am considering deferring my Fall 2020 admission to Spring 2021 and was wondering how this would affect my loans? I think I read somewhere that if you're out of school for more than 6 months then you lose the 6-month post-grad grace period and would have to start paying back your loans right away. [link] [comments]  |
| What year's taxes are currently used to calculate Income Based Repayment plans? Posted: 21 Aug 2020 01:15 PM PDT I just finished grad school, got a job and got on REPAYE. My next Income recerticifation date is August 25, 2021. When I signed up and linked to the IRS to verify my income, I believe it said that I was linking 2018's income to calculate my payment, but that seems too far back to be correct. So my question is, is my payment currently calculated based on 2018 or 2019 taxes? I just want to plan the next few years for how my payments will look. Thanks so much for any information you can share! [link] [comments]  |
| should I accept unsubsidized loans if I think I might not need them? Posted: 21 Aug 2020 01:09 PM PDT My plan was to accept the unsubsidized loan along with my scholarship and Pell, so that I have those funds if I end up needing them. I was just going to pay them back at the end of the semester if I don't use them. But is there retribution to this like a loan limit that I'll be taking away from? [link] [comments]  |
| Can I refinance only part of my private student loans? Posted: 21 Aug 2020 09:14 AM PDT I recently applied to get an offer for rates to refinance my private loans, however, I've been denied due to having too much debt compared to too little income. The information I entered was the total amount of money I owe. Is it possible to apply for refinancing about half of what I owe? Will they be more willing to extend an offer, or would they do a background check, see that I owe much more elsewhere, and still deny me? I hope this is making sense. I never considered only applying to refinance a portion of my loans. Thanks in advance for any input/recommendations/ experience shared. [link] [comments]  |
| Posted: 21 Aug 2020 09:03 AM PDT So when doing my MPN I missed up typing a phone number for one of my references. Was it okay if I did another MPN? [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