At least we're not alone... this article breaks down federal student debt and number of borrowers in each US state Student Loans |
- At least we're not alone... this article breaks down federal student debt and number of borrowers in each US state
- Has anyone ever met someone who worked for a student loan service company, like Navient, ECSI, etc.?
- Using student loans to pay for apartment at 19- is that even possible? More info in comments
- Advice - I owe $20k to Fedloan
- Grad Plus Loans
- I Need To Do Loan Exit Counseling
- Do we need to consolidate before going into PAYE/IBR?
- Any loan refinance experts out there?
- Gettingback into school with defaulted loans
- Worried about student loans
- I feel screwed, Please help!
- Student loans; where do I begin?
- Discover student loan denied/ No cosigner/ Next steps?
- If I consolidate will I remain in deferment?
| Posted: 23 Oct 2020 08:28 AM PDT DC has the highest federal debt per borrower with an average of $54,905, compared to North Dakota where the average borrower owes just $28,935. Interesting to put it into perspective! Read more here. [link] [comments]  |
| Has anyone ever met someone who worked for a student loan service company, like Navient, ECSI, etc.? Posted: 23 Oct 2020 11:05 PM PDT I have been struggling with student loans over the years and have always wondered if there were any internal tips or tricks we might learn from an insider, regarding forgiveness or otherwise. I scoured reddit, and couldn't find any thread on any subreddit featuring someone who worked for one of these companies (though my search terms might have been bad, it was hard to search for). Does anyone have any contacts? Would be cool to do an AMA with them. [link] [comments]  |
| Using student loans to pay for apartment at 19- is that even possible? More info in comments Posted: 23 Oct 2020 05:11 PM PDT I've been going to community college for a short period. However, this past summer my household, which was already very stressful because of certain factors I don't feel comfortable sharing, became much worse because of occasional violence that started. I now have constant anxiety in this house and want to GTFO as soon as possible, Aside from this I believe my parent may be moving in their physically and emotionally abusive ex in a few months, while is another extreme source of anxiety for me Then there's my parents alcohol issues that leave me crazy anxious, since I know they often drive VERY drunk. Anyways all of this has caused my mental health to take an extreme hit. Like, I'm pretty hopeless. I've been thinking of self harming again (probably will), and doing other not-good stuff. anyways I was hoping to transfer to a school in my state, but the deadline passed. Now, there is another school that's closer and is not bad. However room and board is pretty expensive (like 13k), and I could probably afford an apartment with a roommate, cheaper than this and MUCH better. Also the campus for this college is tiny so I'm not missing out on that end. Do you think I can use student loans to pay for off campus housing as a transfer student that does not even have their associates yet? The original plan was to get my associates because I understand that its the smart thing to do, but I want/need to get out asap. The only thing is I have a part time job that I've had for 2 months. What kind of apartment owner will want to rent an apartment to a 19 year old that has only had a job for 2 months? I used to work with my dad but he never made me sign any tax forms so I doubt this experience is relevant. Trying to be realistic and I understand my only option may be to just move in to the dorms on campus. Please give some input EDIT: I also recently lived with another family member for a few weeks and my mental health was exponentially better (was not expecting this), as was my school work. [link] [comments]  |
| Advice - I owe $20k to Fedloan Posted: 23 Oct 2020 03:41 PM PDT Hey all! First time posting on here and have found a sense of community with the questions, concerns and venting I have read here. Thank you and remember you're not alone. Below I'll write up my stats and am hoping to see if you all have any recommendations for me. -undergraduate has been paid off -I owe $20,500 for grad school under Fedloan -I currently work as a clinician at a not for profit -I make roughly 85k a year -I have worked at not-for-profit clinics since 2013 across various states -I have made every payment since 2013-2020 (roughly 7 years) -current monthly payment is roughly $270 My questions are: -I haven't yet applied to PSLF, is it worth it at this point and try to collect signatures from each past clinic to see if payments since 2013 will count? - would it be better to aggressively pay off the remainder 20k on my own? -I read horror stories on here regarding Fedloan giving you the run around, is PSLF even worth it? -if I do apply for PSLF, would Fedloan start charging me more if they were to include spouse income? Again, thank you everyone and keep on trucking!! [link] [comments]  |
| Posted: 23 Oct 2020 10:09 PM PDT I am taking out a grad plus loan as I will not be working while in school so need it to cover living expense. I want to take out the maximum amount. As when I finish graduate school my degree has a good return rate. Can I get the full amount right away? Or, is it broken up by semesters? How does it work? I'm looking to take out $160k. I calculated this is how much I'll need for attending 6 credit hours for 3 years. [link] [comments]  |
| I Need To Do Loan Exit Counseling Posted: 23 Oct 2020 09:58 PM PDT I recently dropped below 6 credit hours at my community college as covid-19 made it hard to do at home classes. I need 6 credit hours or more that go towards my degree to apply for a loan. Since I do not have any income at the moment it would mean I'll have to drop out of college. I'm looking for a way to get more than 6 credit hours by working with my college so that's not my main problem. The issue is doing the loan exit counseling. I started the counseling on the student aid website but it will not let me finish. Every time I attempt to list my next of kin or my reference the submission errors. I only have two options which would work for next of kin and as a reference but they do not. The site says I need two references which I do not have if I need one to be next of kin. I have no clue what I need to do for it to submit and I have no idea when I need to submit it. [link] [comments]  |
| Do we need to consolidate before going into PAYE/IBR? Posted: 23 Oct 2020 04:35 PM PDT My wife graduated from medical school and began residency this year. She's in deferment right now, but will need to begin paying soon. Do we need to consolidate her loans before we can apply for some kind of income based payment plan? I feel like we should have consolidated a couple of months ago if so. Hoping not... [link] [comments]  |
| Any loan refinance experts out there? Posted: 23 Oct 2020 11:33 AM PDT I refinanced my government loans when I was a first year at a big law firm. Being a new lawyer making a lot of money at a big firm and in an insane amount of debt, I was basically talked into refinancing. The firm had a company they regularly used and I got (what I thought at the time) a really great deal. Fast forward to absolutely hating my life at the firm. Anyone in big law knows the struggle. So I left. Now I'm in government/public service and I would qualify for loan forgiveness. This eats me alive knowing that if I wasn't talked into refinancing by that firm (who likely gets the best deal out of getting new attorneys to refinance with that company) I could potentially have my loans forgiven. Has anyone else been down this road? Any tips? It's a shame that I'm in this position with no way out. But maybe someone with experience in this area could assist me. [link] [comments]  |
| Gettingback into school with defaulted loans Posted: 23 Oct 2020 12:33 PM PDT hi I have about 20 grand in default from previous college. I contacted my collections agency but they immediately started asking me about my current work and I didn't want to get my wages garnished so I hung up. I am reading online that to get out of default I need to rehabilitate my loan by making six on time payments but I have no idea how much the payment should be. I'm reading about 15% of my Income divided by twelve? I'm going back to school Full-time and plan on quitting my job anyways, should I quit my job before I try to settle this loan so that I can say I don't work? Will this enable me to make super low payments to get out of default? Is it true I can then defer my loan again while in school? Can I make all 6 payments in a short period of time?I make about 40 grand a year I don't have 3 grand to drop to get into classes right now . Thanks [link] [comments]  |
| Posted: 23 Oct 2020 11:20 AM PDT Is about 35k to much debt to pay back on a 40-45k starting salary? I feel like I would be able to manage it, and I would get to live at home with no bills. My parents have agreed to continue paying things like my phone and car insurance. Any feedback is appreciated. I also plan to build on my degree but I would love to pay these off first! I have a plan to pay the 35k back in about two years! [link] [comments]  |
| Posted: 23 Oct 2020 07:29 AM PDT I'm trying to get out of my toxic family situation. I was considering living with my partner going back to nursing school where he lives. I just finished my bachelors at 23 in my current school and pursuing a masters. These degrees are not getting me anywhere in the job market. I just found out I'm not eligible for financial aid anymore because I have a bachelors. I have no fulltime job or car right now so there would be no way to finance my nursing school. Continuing the school I'm pursuing my masters at would be 2 hrs from my partner's place, which would mean more gas. I'm currently debt free. I would still take loans out for either path (nursing or my masters in health admin). I'm considering living with him bc it will be rentfree. I don't think there's many scholarships I qualify for, and now I'm seeing I would have to apply for private loans. I really don't want to stay with my parents any longer and seeing how I may be in more debt but still be mentally happy, I'd rather take the hard route. What do I do?! I don't think I'll be able to pay off loans for awhile but is it worth it. [link] [comments]  |
| Student loans; where do I begin? Posted: 23 Oct 2020 10:24 AM PDT I'm trying to get a plan ready to start paying my student loans come January . I have direct subsidized and unsubsidized Stafford loans with Great Lakes at $28,667.56 and a parent plus loan with FedLoan at $107,565.47. My current plan is to apply for the public service loan forgiveness program for my parent plus loan (I'm a nurse) but don't have a plan for my other loan. I'm really unsure what my best option is so any advice would help! [link] [comments]  |
| Discover student loan denied/ No cosigner/ Next steps? Posted: 23 Oct 2020 11:38 AM PDT So I just applied to Discover for a Spring loan and I failed the credit check. I am paying for school on my own so I don't have a cosigner. I thought my score was 686 but according to Equifax it is 669. I think this is due to my credit card debt since my student loans are deferred and don't get included in my debt/income ratio. 3 questions:
Side note: I pay off my interest on all my loans every few months.
Each application affects my score so I feel like I only have 1 more shot before Spring to get approved somewhere. My current financial breakdown is: monthly income: $1400 (part time because I'm in school) monthly bills: $1600 (on a strict budget) Spring tuition/book costs : $900. So that is what I am attempting to finance for the Spring. I need loans to cover the costs of the difference which is about $400-600 a month. So a loan around $3,000 to be safe. [link] [comments]  |
| If I consolidate will I remain in deferment? Posted: 23 Oct 2020 07:10 AM PDT I intend to consolidate my loans but I'm still within my six month deferment period (as well as the COVID deferment I guess?). I have other more urgent financial priorities so the longer I can go without paying my student loans the better (I'm ok with paying more later on). My question is, if I consolidate my fedloans now will I still be in deferment? Or will I have to begin paying? [link] [comments]  |
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