Does Biden's student loan plan provide any relief to students who attended public college but then transferred credits to/graduated from a private college? Student Loans |
- Does Biden's student loan plan provide any relief to students who attended public college but then transferred credits to/graduated from a private college?
- The Art Institute closed 1 year ago, but TuitionOptions still asking me to pay the loan?
- How to start paying down?
- have you gotten a student loan for trade school?
- Need to see if I have private loans. annualcreditreport.com only allows me to view experian and the verification questions are wrong.
- How should we take advantage of 0% interest rate?
- Are student loan payments tax-deductible? If so, how much of them can I deduct from taxes?
- If I have 5 loan “accounts” through the same servicer (fedloan) how does it make a difference compared to having a single loan?
- Any experience getting FedLoan from removing delinquencies that were recorded on credit report?
- If PAYE is ever discontinued, will it be announced first before taking into effective?
- REPAYE Lowers Tax Burden at 20 Year Forgiveness?
- PSLF or nah?
- Refinancing to a Variable Student Loan - SOFI
- IDR plans - are income verifications affected by current forbearance?
- How do you end up with 100k + in debt with only a bachelor's degree?
| Posted: 05 Oct 2020 12:53 PM PDT I understand that Biden's plan would forgive all undergraduate federal student loan debt for those who attended public colleges (and make under $125k) - but would students who started off at a state uni and then transferred to and graduated from a private college get any forgiveness? If so, how would a forgiveness amount be calculated for those (like me) who took out a federal consolidation loan after graduating? I realize this is all hypothetical at this point but interested to see if anyone has thought of this. I personally attended a state school for a few semesters to try to save on tuition but still racked up quite a bit of debt. EDIT: Adding quotes from Biden's website that explain what is in the plan. "Debt/Loan Cancellation ● Forgive up to $50,000 in student debt for those working in public service ($10,000 per year). ● COVID-relief: $10,000 per borrower. ● Forgive all undergraduate tuition-related federal student debt from two- and four-year public colleges and universities for debt-holders earning up to $125,000, with appropriate phase-outs to avoid a cliff. This benefit would also apply to individuals holding federal student loans for tuition from private HBCUs and MSIs. ● Individuals making $25,000 or less per year will not owe any payments on their undergraduate federal student loans and also won't accrue any interest on those loans. ● Those earning more than $25,000 per year will pay no more than 5% of discretionary income toward payments. After 20 years, the remainder of federal student loans will be forgiven without any tax burden." Sources: https://joebiden.com/beyondhs/ https://joebiden.com/wp-content/uploads/2020/08/UNITY-TASK-FORCE-RECOMMENDATIONS.pdf [link] [comments]  |
| The Art Institute closed 1 year ago, but TuitionOptions still asking me to pay the loan? Posted: 05 Oct 2020 11:57 PM PDT Hi, [link] [comments]  |
| Posted: 05 Oct 2020 07:11 PM PDT I'm on the fence at the moment. My original intent was to pay off the collective interest of all my (6) loans ($2223.79) and then start attacking the high-interest loans one at a time. Now I'm thinking of applying all of it to one or both of the higher interest loans and really bring it down. Which is the better of the two options? [link] [comments]  |
| have you gotten a student loan for trade school? Posted: 06 Oct 2020 02:43 AM PDT better yet, massage school? let's say tuition is around 2k, but i didn't want to work while attending school, would i be able to get a loan to cover my living costs as well even though it would only be for a few months? thanks y'all, sorry if this is a common sense thing but i like to hear opinions and stuff [link] [comments]  |
| Posted: 05 Oct 2020 10:47 AM PDT I'm trying to figure out if I have private loans. All I can find on this subreddit is looking through annualcreditreport.com however, I'm unable to see any of my reports as two require a by-mail report and experian asks verification questions that have nothing to do with me. Has anyone else had this issue? What can be done about it? [link] [comments]  |
| How should we take advantage of 0% interest rate? Posted: 05 Oct 2020 11:18 PM PDT I just graduated in May and have a few subsidized and unsubscribed loans, I want to consolidate them. I have no idea where to start... but what is the best move during this time with the interest rate? [link] [comments]  |
| Are student loan payments tax-deductible? If so, how much of them can I deduct from taxes? Posted: 05 Oct 2020 09:15 PM PDT Would it be $1-for-$1 - $1 for every dollar I pay toward student loans? And is it up to a certain amount, like $10,000 or something along those lines? As most of my income made these days is through gig work at DoorDash, I need to find as many ways as I can to reduce my taxes! This is the first time I've worked in anything that does NOT take taxes out of every paycheck. [link] [comments]  |
| Posted: 05 Oct 2020 02:06 PM PDT When I take a look at my credit report my student loan basically has 5 "accounts". This was for 3 yrs of schooling. 2 of those accounts have about 2k, 3k, and the others are much higher. How does it affect my credit score? If I have 4 accounts that is 2k less vs 5 accounts that is 2k less, does it make a difference? Thanks. [link] [comments]  |
| Any experience getting FedLoan from removing delinquencies that were recorded on credit report? Posted: 05 Oct 2020 02:10 PM PDT |
| If PAYE is ever discontinued, will it be announced first before taking into effective? Posted: 05 Oct 2020 05:27 PM PDT In other words, would you have time to switch over after they announce it? It so, how much time do you think they would give us? [link] [comments]  |
| REPAYE Lowers Tax Burden at 20 Year Forgiveness? Posted: 05 Oct 2020 05:26 PM PDT When it says the government pays 50% of unsubsidized loans for entire REPAYE period (in addition to the first 3 years of both types of loans), this means that one's total balance at 20 years will be less, BUT does it also mean that the tax burden will be less too? or will you also have to pay taxes on the 50% that the government paid? [link] [comments]  |
| Posted: 05 Oct 2020 03:29 PM PDT I have $12k in student loans and I'm working for the government. I do intend staying employed by the government so I'm considering applying for Public Service Loan Forgiveness (PSLF).. however, I don't know if I want let my loan sit for 10 years.. I did the loan simulator and if I do PSLF, $1.2k is forgiven. Is PSLF worth or should I just pay my debt off? [link] [comments]  |
| Refinancing to a Variable Student Loan - SOFI Posted: 05 Oct 2020 01:15 PM PDT Hi all, Have a question/ looking for advice. Looking to aggressively start paying off my private student loans and looking at refinancing them from a 15y loan to a 5y loan. Currently I have a 15y loan at 3.95% interest and ~$88,000 principal. The best pre-qualified rate (applied thru the following servicers: Laurel Road, Credible, Juno, Earnest, and SOFI) I have found are both through SOFI - FIXED: 2.99%; VARIABLE: 1.84%. The variable rate is tempting me; being over a percentage point lower than the fixed, my plans on paying as much to the debt each month as possible, allow it to be a plausible option in my head. But I also know I cannot trust that the rate will remain this low. So questions is do you think I go with the variable rate or the fixed rate in this situation. Thanks for the help! [link] [comments]  |
| IDR plans - are income verifications affected by current forbearance? Posted: 05 Oct 2020 06:52 AM PDT Hi everyone, Each August both my husband and I usually get letters from FedLoans saying that in about a month we should get ready to have our income checked again to decide how much we pay on our IDR plans. This year, no letters for either of us. No letter at end of September either. We called and even the customer service line said they didn't know when. Usually we have to submit our taxes/paperwork mid October so that they can get processed by the time our new payments are due in December. Now customer service says we submit our taxes and paperwork in December. Is anyone else having this confusing issue? Is it because of the covid forbearance? [link] [comments]  |
| How do you end up with 100k + in debt with only a bachelor's degree? Posted: 05 Oct 2020 09:37 AM PDT Assuming you are only getting a bachelors degree from a public university...How do you end up with more than 100k in student loan debt? The average cost of a public university in the US is around 10k per year. And maybe you lived on campus (usually more expensive than off campus housing) for all 4 years (~12k for the year). So 22k/year. Just to be safe I'll round it up to 25k/year. Even if you don't have a dime of savings and you never worked throughout college to help pay for things....that's still only 100k in debt. So the people I see (here and other places online) that have 100k+ in student loan debt...are those all people with masters/phd/med school etc. People who have this much debt and only a 4yr degree...what happened? EDIT: I am not trying to criticize people who have significantly more than 100k in debt. I am trying to understand what circumstances lead to their situation. My instinct is that there is very rarely a good reason to have that much debt when there are a lot of really great, much cheaper higher education options. But I don't want to just go with my instinct. I want to actually understand and be educated about the issue so that I can form better opinions about what kind of policies (ie student loan forgiveness, free higher education, etc) will be best for the majority of people, and if those policies are equitable or feasible. [link] [comments]  |
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