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    Saturday, October 3, 2020

    Home Unlabelled My school said I qualified for financial aid of $8000 but now that I filled out my FAFSA, they say I don't qualify for any financial aid. What happened? Student Loans

    My school said I qualified for financial aid of $8000 but now that I filled out my FAFSA, they say I don't qualify for any financial aid. What happened? Student Loans

    October 03, 2020

    My school said I qualified for financial aid of $8000 but now that I filled out my FAFSA, they say I don't qualify for any financial aid. What happened? Student Loans

    My school said I qualified for financial aid of $8000 but now that I filled out my FAFSA, they say I don't qualify for any financial aid. What happened?

    Posted: 02 Oct 2020 02:19 PM PDT

    My dad provided them estimates of the info they needed, but when he filled it out for real they retracted that promise they made...did my dad make a mistake or did my school rip me off?

    submitted by /u/wrong_lane99
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    30K in loans, about to start another degree...

    Posted: 02 Oct 2020 03:47 PM PDT

    Just finished a degree which I needed to do to get better grades. I'm starting my degree for occupational therapy but I am stressed because of money issue. I will be 30 y/o when I'll be done and if I estimate correctly, I'll have about 60-70k loans with a salary of about 45k/year when I get out. That kind of number is really scary to me because I also want to start my life(Have kids, house,etc) when I'm actually done with college. But I'm really not sure how I'll be able to pay the loans quickly if I also want to start having kids when I'm done.

    ​

    Do you have any advice for a man with a lot of stress as myself ?

    I'm canadian if that information is useful.

    Thank you.

    submitted by /u/Mhalade
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    FAFSA Application Form

    Posted: 02 Oct 2020 11:22 PM PDT

    Hey guys been trying to access the FAFSA since October 1st to no avail. Same error message keeps coming up 'FAFSA on the Web has encountered an error. We apologize for any inconvenience this may cause. Click "OK" to return to the FAFSA on the Web home page'

    Have tried several devices and browsers, allowing popups, clearing cache etc.

    The hotline said they were aware of the situation and would look into it, but nothing has come of it yet. What should I do I have EA/ED applications in soon

    submitted by /u/GeneralHermi762
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    Benefits of studying abroad

    Posted: 03 Oct 2020 12:11 AM PDT

    Studying abroad is more than just education, it's a holistic experience. Earning an international degree is not only about expanding your career and personal horizons but also about having an experience of a lifetime. Here are some of the reasons why you should consider studying internationally .......Read More

    submitted by /u/Subhajit05
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    Interesting update for fed-backed loans

    Posted: 02 Oct 2020 01:25 PM PDT

    My paperwork for the REPAYE program was due this month and I just called Navient to get an update. I was reminded that the fed based forbearance is still currently through 12/31/2020 so all payments at this time are expected to begin on January 2021 based on your existing repayment schedule/date.

    They did processes my REPAYE paperwork but it's not going to take effect until April 2021 rather than October 2020 as originally scheduled. My existing payment amount will stay the same starting with the January payment and then the new payment based on my updated REPAYE paperwork begins April 2021. Funny thing is that my income hasn't really changed but my wife hasn't worked since March and our payments only went down about $11/month. Better than nothing I guess.

    Just thought I'd share this info in case it helps anyone, check with your loan processor for direction as it pertains to you, YMMV.

    submitted by /u/meaty_maker
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    H.R. 2728. Please support!

    Posted: 02 Oct 2020 01:28 PM PDT

    It's been referred to committee and probably is DOA, but PLEASE send a quick email to your Congressperson to support H.R. 2728: Joint Consolidation Loan Separation Act. It allows those of us unfortunate enough to be saddled with these monstrous loans with ex-spouses to split up the loan. Here's the link to the Bill: https://www.congress.gov/bill/116th-congress/house-bill/2728/cosponsors?searchResultViewType=expanded

    submitted by /u/Traditional-Theory87
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    Who claims the baby?

    Posted: 02 Oct 2020 02:42 PM PDT

    I am re-certifying my income-based repayment plan. My husband and I file separately so that we aren't having to pay back my loans based on our higher joint income (not sure if that's the right approach but that's another question). Because of that, I know only one of us can claim our baby, due 10/12, on our taxes. There is a question on the application for recertification of my loan asking if there are any children for whom I provide more than half of the support. Should I say no, since he has the higher income and would presumably be providing more for our child?

    submitted by /u/Adepte
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    received a bill after two years, what do i do?

    Posted: 02 Oct 2020 02:11 PM PDT

    i went to school back in 2018 before leaving after the first semester due to personal issues. my mother took out a loan for me and, as far as im aware, i only utilized financial aid i received from both the school and fafsa.

    after two years, i received a bill today under my name with a past due amount of $5k. no current amount due, no other fees.

    im shocked because i havent heard of this for two years, nor do i even have the funds to pay this off in 13 days. i have no work and im currently living with my father to hopefully bounce back on life.

    i have no clue what to do with this. i cant even remember if i signed for a loan in the first place, nor do i know what to do if i cant pay for this..

    submitted by /u/dullmemes
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    What are your federal loan repayment tips?

    Posted: 02 Oct 2020 07:22 AM PDT

    Just did my exit counseling and I've been trying to find a good source of info on how to best (fastest and least expensive) pay off my loans. I have a $37k balance in direct sub/unsub and one Perkins loan. I figure best route is a lump sum up front towards principal and then overpaying monthly rate. But I've also heard horror stories where people do this and didn't tick the right box so they end up paying off their interest and not principal and getting even further in debt.

    So, what has worked for y'all? Any tips to rapidly reduce federal student loan debt from your experience?

    submitted by /u/GottaBlast7940
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    Guidance with SAP appeal

    Posted: 02 Oct 2020 11:40 AM PDT

    I have to fill out a SAP appeal this semester due to academic struggles that are a result of (at the time) untreated bipolar disorder and ADHD. I'm finally at a good place to do well now and am worried they might deny my appeal. What is the likelihood of that happening?

    Also, can someone give me guidance on my SAP appeal letter? I want to make sure I have this perfect before I submit it:

    Dear whoever will handle my SAP appeal,

    My name is ____ and I have been a student at ___ full time since the fall semester of 2019 and was apart of the ____ high school program through the ____ Career and Technical program from the fall of 2017 to the spring of 2019. Throughout this span of time, I have failed to reached the SAP requirements necessary to receive financial aid due to long standing mental health problems. Back in the fall of 2019 in which I started working towards my Associates in Applied Sciences for Cybersecurity at ____, these menal health problems which I've had throughout my entire life (untreated bipolar disorder and ADHD), became far worse as a result of the trauma of losing multiple family members, including my father whose body I was the one to find, within a span of 7 months. This caused me to become extremely depressed to the point of being suicidal. Alongside the depressive symptoms, the extreme sleep disturbances caused by bipolar disorder also forced me to choose between getting a healthy amount of sleep and attending my classes, to which I tried doing the latter as much as I physically could handle. The sleep deprivation caused by this got so severe at one point that I was having extreme difficulty formulating coherent sentences when talking to an academic advisor. Ultimately, my ability to function was completely obliterated and I stopped attending my classes at ____ almost entirely. At this point, I realized I needed to find help and was ultimately diagnosed with bipolar disorder and prescribed medication in January of this year. On top of this, the jump from high school, in which I didn't face much difficulty with the workload, to college in tandem with untreated severe ADHD, crippled my ability to complete my academic requirements in my classes. At the time I started medication for my bipolar disorder, I also began taking medication for my ADHD. The documentation for both of these medical issues is attached in the email alongside this appeal.

    Going into my second semester at ___, both medications proved extremely successful in treating my symptoms however I was not as successful as I hoped I would be, partly due to the current public health crisis uprooting my routine and forcing an insanely difficult adjustment to asynchronous learning. Likewise, I was not able to get accommodations seeing as I applied for them the week or so before the campus shut down. Although I did not succeed as much as I had hoped, my second semester granted me an understanding on how to best combat my ADHD symptoms.

    This semester is already off to a fantastic start with all of my classes being synchronous and applying the coping skills learned through the bumps of my second semester in order to adjust to a college-level workload. Alongside applying for accommodations, I finally have the tools I need to succeed academically as opposed to stumbling my way through college and hoping for the best. My academic career is completely dependent upon my financial aid eligibility as not having financial aid would force my education to be put to an end. I would hate for this to end up being the case, especially when my educational journey is finally at a positive turning point.

    I hope you can look favorably on my appeal, given my unique circumstances and my efforts to make the changes necessary to succeed in college, and give me a second chance to prove myself.

    I feel like I'm possibly being too straight forward but at the same time, I feel it's important to understand how severe my problems were. Thoughts?

    submitted by /u/tomahawk76
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    Already consolidated my private student loans in 2009

    Posted: 02 Oct 2020 10:04 AM PDT

    ...can I reconsolidate? I know the rules have changed a bit regarding student loans. Any tips or banks that are worth checking out? I'm getting raked with a 7.5% interest rate and am in a better position to take care of these. I've never defaulted or missed a payment but now that I'm raising a family, I'm eager to get rid of them. I have about $28500 left to go. It's already been 11 years of paying them.

    submitted by /u/Successful_Food_7387
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    FAFSA Error

    Posted: 02 Oct 2020 02:51 AM PDT

    I am currently trying to fill out the FAFSA 2021- 22, form but keep getting the following message- FAFSA on the Web has encountered an error. We apologize for any inconvenience this may cause. Click "OK" to return to the FAFSA on the Web home page"

    I tried everything it tells me to do, from switching laptops, clearing cookies, enabling popups, using a different browser, using my phone, and using a different internet connection.

    I can't even open the form because of this. Any help?

    Thanks.

    submitted by /u/WillwithWater
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    Can my spouse not refinance student loans as an unemployed full-time grad student?

    Posted: 02 Oct 2020 05:49 AM PDT

    My spouse and I are trying to refinance her loans while the rates are so low. We have been denied by every single company.

    My spouse has $72,000 in ill-advised private student loans from her undergrad. The interest rate is an average of 9% and the minimum payment is $850. She is now in a doctoral program with about 18 months until graduation. So, she is unemployed as a full-time student, and she takes care of our daughter. She has a credit score of 725. I want to cosign my spouse's refinancing to lower our payment and lower the interest rate.

    I make $101,000 annually. My credit score is 801. The only debt in my name is the $4,000 left of my federal student loans - I plan to pay them off and be done with them before the covid relief ends.

    I have been denied by every company I have applied to. Credible shows no pre-qualifications. SoFi and others don't let me complete an application while entering $0 as the borrower's income. Penfed/Purefy has a Spouse Loan and gave me one pre-qualified option, but rejected our application after making the hard inquiry. The application suggests reapplying with a different cosigner. However, I already meet all the requirements it lists, and I don't really have any friends or family in a better financial situation than myself. I suspect the issue is her unemployment, not my qualifications.

    I looked into refinancing in August and I had more than a dozen pre-qualifications on credible, but we chose to wait until we new my job was safe from covid related lay-offs. Now there are no pre-qualifications, but nothing has changed in the application. I pulled my full credit report and do not see any freezes or issues.

    Does anyone have any suggestions? Do I just sit around accruing crazy interest until she begins her paid internship in May of next year?

    submitted by /u/AGoodGuffaw
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