6-figure debt went down to 5 figures today! Student Loans |
- 6-figure debt went down to 5 figures today!
- The three magical words: “Paid in full”
- I paid off my private student loan today!
- Will FedLoan contact my boss after I submit an Employment Certification Form for Public Service Loan Forgiveness?
- Asking for lower tuition fees due to covid?
- At My Breaking Point
- REPAYE (Revised Pay as You Earn) Payment Plan
- Applying for loan for a previous semester
- Does applying for a student loan mean you have to accept it?
- Should I bother renewing IDR now, or should I wait until December?
- Where to get private loans with no co-signer??
- Help!!
- IBR during covid forbearance?
- Graduating in May 2021
- How much money do I need to make a year to live comfortably while having a 100k loan balance?
- AITA for not paying my parents plus loans back??
- International Student Loan Refinancing Options
- Is 36k USD in student loans a lot?
- Principal or interest rate
- Am I forever screwed?
| 6-figure debt went down to 5 figures today! Posted: 31 Aug 2020 09:28 AM PDT I still have a long way to go to paying off all of my student loans, but I had to stop and celebrate a small victory with all of you today. Last year, I came to this sub for advice and ended up refinancing all of my federal student loans (a balance of $118,000 at the time) into a single SoFi loan at a much lower rate. I've committed to paying at least an extra $1000 each month, and today the principle balance is down to $99,708.34! It's still quite a high balance, but getting it under six-figures is extremely uplifting and I feel like I can finally take this on. And after many discussions with my girlfriend, I'm also contributing just enough to my 401k so that I max out my company's match, which means I'll have a positive net worth in about 2 years and completely debt free in 4 years. Thank you so much for all the love and support in this sub, and I'm so proud to be hustling and struggling alongside with you all. [link] [comments]  |
| The three magical words: “Paid in full” Posted: 31 Aug 2020 04:31 PM PDT Made my last payment on Saturday. Just checked my earnest dashboard to read these 3 magical words I have been dreaming of for 6 years. It's surreal. For the last few days I've been so engaged with everything. I feel I am 100% me again - idealistic and energetic, running circles around any problem until it erodes away. My next goals are already under siege: a combination of focusing health, fitness & cooking. I am very confident it'll be a breeze to SLs. [link] [comments]  |
| I paid off my private student loan today! Posted: 31 Aug 2020 09:40 AM PDT Originally my loans were held with Sallie Mae...they screwed me with some insane interest rates around 9/10%. I refinanced a couples years later with Sofi at 6%, then again with First Republic at 2.55% I'm fortunate enough to be able to work from home during COVID and also have an affordable living situation (I live with my partner and his mom). This past year I've been diligent about tracking my money and living far beneath my means. Today I made my final payment and it feels so good! At the highest balance my loans were about 58k. Now time to tackle my federal loans. [link] [comments]  |
| Posted: 31 Aug 2020 07:01 PM PDT I'm doing the annual Employment Certification Form for the Public Service Loan Forgiveness program but my boss is going out of the town for possibly upwards of 6 months and we are working from home. Once I submit the form will FedLoan be contacting my boss with a second letter or anything ? Does he need to do anything else ? I just want to know if I need to be going into the office and looking for a second piece of mail to send his way. Basically what happens once I submit the Employment Certification Form? [link] [comments]  |
| Asking for lower tuition fees due to covid? Posted: 01 Sep 2020 02:22 AM PDT Hey, I hope this is the right subreddit. Basically, I'd like to ask my uni to lower the tuition fees (for me) as I think it's fair given that most of my classes are moving online and there's a lot of individual learning. I believe that the tuition fees here in the UK are ridiculously high to begin with but think they should be lowered as in some other countries given the current situation. I'm not super hopeful but any idea on how to move forward with this? Who to contact? And is there anything I could say that might change their minds in the likely case that they refuse? Thanks! [link] [comments]  |
| Posted: 31 Aug 2020 08:37 PM PDT I've been jumping through so many hoops in order to go to college this semester. Everything seemed to have gone wrong due to COVID, and it feels like I'm barely staying afloat. It's been a mess with the financial office and sorting out all of my problems. It's hell. A friend of mine comes from the same relative poor financial situation as me, but his grandparents set aside a large amount of money for him for college. He never brags about it to me, but it's frustrating because I'll mention things like "Sallie Mae" or "Parent PLUS" and his face is blank. He has no idea of anything relating to loans in the slightest. I wish that I had that privilege. I wish I could be ignorant about that stuff. But here I am, struggling and clawing and fighting to even be able get my degree because of monetary problems... meanwhile he's suddenly living the life. [link] [comments]  |
| REPAYE (Revised Pay as You Earn) Payment Plan Posted: 31 Aug 2020 08:33 PM PDT So I recently did my annual recertification for my IDR plan. I've been on the REPAYE payment plan for the least few years. My new payment is now $58 higher than what I was paying last year. It makes no sense because on my most recent taxes my AGI was $5K lower than the year before. How is it I'm paying more than last year? Was there a recent change I'm not aware of? Has anyone else had this happen? [link] [comments]  |
| Applying for loan for a previous semester Posted: 31 Aug 2020 07:37 PM PDT I lost my financial aid for spring 2020 and was told by my parents that they couldn't help me pay for college anymore. The only way I can pay for that semester is through a student loan with a co-signer. If I were to get a co-signer would I be able to get a student loan for a previous semester while not currently being enrolled in school? Or am I just screwed. [link] [comments]  |
| Does applying for a student loan mean you have to accept it? Posted: 31 Aug 2020 06:51 PM PDT I am in a pinch and need to apply for a private student loan to pay for graduate school in Maryland for Fall 2020. Unfortunately the FAFSA deadline is passed in Maryland so I have to resort to a private student loan. I am currently working full time ($90k salary) and would be able to pay it off extremely quick so I am looking to take out a variable rate loan. Is variable rate a bad idea or should I go with fixed rate? [link] [comments]  |
| Should I bother renewing IDR now, or should I wait until December? Posted: 31 Aug 2020 03:01 PM PDT Right now we are not paying either my husband's or my own student loans. Due to COVID which also happened at the same time we were supposed to relocate for his new job, and me entering the job market after summer, well... Now we chose it was best for me to stay at home with our kids to lessen our expenses. Because of the massive paycut we had to take (the move, health, and car insurance are a bit higher, surprise expenses up the butt), we are taking advantage of the no payment due until 12/31/2020. However, both our IDR plans were set to renew this month. What are your opinions on this, should I bother doing them now, or should I wait until December? Did it affect your due dates? Are their systems ok to handle that? I've read so many horror stories of absolute radio silence from the lenders, I just want to not stress out about this, replenish our emergency fund, and be able to level ourselves till the end of the year. Thanks! [link] [comments]  |
| Where to get private loans with no co-signer?? Posted: 31 Aug 2020 12:37 PM PDT These past few weeks have been stressing me out so much. With the first billing period posted, I don't know what to do. I accepted federal loans, grants, any thing I could. I have 3500 in savings to use, but I am still 2500 short. I tried Discover loans, but was told I need a co-signer because of my limited credit history. My parents basically said I'm 18, I can support myself, and refused to co-sign. Without a co-signer, it seems like I won't be able to get the resources for the bill. Anyone have any suggestions where to apply for loans that don't require a co-signer?? [link] [comments]  |
| Posted: 31 Aug 2020 06:27 PM PDT Can I do this only when I want to? Or when I start do I have to keep making monthly payments to maintain this? Will it hurt my credit / credit score? I just wanna tackle sallie mae a bit before I graduate. With just a few dollars here and there. Thanks for any input. [link] [comments]  |
| Posted: 31 Aug 2020 06:22 PM PDT So interest rate has been 0 ever since they've provided covid forbearance which doesn't require you to make payment until end of this year; I'm using great lakes.
thank you [link] [comments]  |
| Posted: 31 Aug 2020 02:14 PM PDT Hey everyone! So I'm new to using Reddit and have been trying to keep up with posts in this area. I'm graduating in May 2021 and will have around $100 - $120k in debt (three cheers to expensive private school!!). Now a little background, I come from a family that didn't have much when I was growing up. I remember my mom mixing water with milk for my little brother growing up and thank God they got out of that situation and are now happy homeowners! So all this to say, I had no credit when I went into college and I also had no college fund to help with payments AND I'm first generation so none of us had any idea how student loans worked. As a result of all this, I took the financial aid's office advice and I got parent plus loans and private sub & unsub loans to pay for school. Looking back I wish I would've done more research on different loans because I never realized that parent plus loans wouldn't be transferred into my name and it's instead my parent's who legally get stuck with them. So my question is: what should I make sure to do to pay off my loans as fast as possible? My parents made it clear that I can stay home as long as I want so I can pay off my loans faster so that's a plus. I was thinking of trying to throw as much money into the loans as possible and just bearing through it until it's over. I'm all ears and open to any advice, words of wisdom, encouragement, anything that can help because I'm already freaking out about how I'm going to pay them off lol [link] [comments]  |
| How much money do I need to make a year to live comfortably while having a 100k loan balance? Posted: 31 Aug 2020 06:37 AM PDT The title says it all, I'm going to be graduating with approximately 90-100k in student loans. My bachelor's degree is in accounting. I plan to pursue my CPA as well. [link] [comments]  |
| AITA for not paying my parents plus loans back?? Posted: 31 Aug 2020 07:14 PM PDT My mom gave me a guilt trip tonight because when I was 18 I told them I would be able to pay their plus loan payment as well as my regular payments back once I graduated. Fast forward 2 years post grad and I finally have a good job and a decent savings and she's trying to guilt me for not paying her loans too. My parents have filed for bankruptcy and have never been good with money so I am very strict with my spending because they have shown me exactly how I do not want to be. Am I the asshole??? [link] [comments]  |
| International Student Loan Refinancing Options Posted: 31 Aug 2020 11:51 AM PDT Hello! I have about $25k student loan debt left which I took from Credila in India for my Master's degree in the US. I'm looking at refinancing options to see if I can lower my monthly payments. Has anyone done this or do you have any recommendations? I looked at https://www.nerdwallet.com/best/loans/student-loans/refinance-international-student-loans [link] [comments]  |
| Is 36k USD in student loans a lot? Posted: 31 Aug 2020 10:45 AM PDT This is my first time taking a loan. I got some scholarships that helped. And luckily the interest rates are low with 20,500 in 4.3% in unsubsidized loan and about 16k in direct plus loans at 5.3%. The job market isn't too good now, but in my field I could expect about 50-55k to start off in average firm. But 60-70k in a top tier firm. Both would probably include some sort of bonus. Usually these companies give small raises each year as well. Not unheard of having a salary over 100k in a 3 years time with bonuses on top of that. Is this manageable. [link] [comments]  |
| Posted: 31 Aug 2020 06:18 AM PDT Hi, I'm new to paying loans back. But I took a look at my current debt and goodness.... I am currently a Junior (undergrad) and I've been thinking about paying back this stuff while still in school. Should I start paying into the principal or interest to be added? Secondly if I do start paying early, will I be hit with some kinda of early pay nonsense where the loan company thinks I've already graduated and starts making me pay per month like I'm a graduate? [link] [comments]  |
| Posted: 31 Aug 2020 04:21 AM PDT I will graduate from my master's degree with ~80K in private student loans and it seems like the field I am going into, does not pay much (I did not do proper research, and I promise you when I was applying to schools I had other priorities and things in mind. Yes, I feel like I was naive, ignorant and an idiot, but now I have to think of how to fix it). Does anybody have any advice they can give me please? I'm really scared, to the point that I am thinking about changing careers to a more profitable one, just so I can feel like I can afford this loans. [link] [comments]  |
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