Talk me off the ledge? Student Loans |
- Talk me off the ledge?
- Beginning student loan journey
- Student Loan forgiveness?
- a personal research
- When to refinance?
- FASFA Noob, First Time Independent Student w/ 25K in Bank Account - Am I screwed?
- Student Loans & Credit Score
- If I’m on REPAYE and paying lower than the standard payment amount, is there any point to paying more on the higher interest loans?
- iHelp SLFC vs. SallieMae?
- Question on refunds during covid
- Post your refi rates!
- Question about Loans for Associates after Bachelor's
- Worth it to refinance?
- Best place to consolidate my student loans?
- Student loan options?
- Long term error in aid
- How to take out loans?
- Phasing out of Income Driven Repayment?
- Any updates to McCormick v. Adtalem Global Education Inc?
- Move into a 1 BR next august, or stay with 3 absolute strangers? (14k loans)
- Loan in Collections, School won't let me register.
- Which student loan to pick?
- My parents paid off their collections and I have a question
- It has been real, good luck to the rest of y'all.
| Posted: 07 Oct 2020 11:25 AM PDT I'm sitting in a house by myself that I pay too much to rent on my own thinking about the stupid choices I've made over the last five years (compounded with the poor choices of the decade before) and I'm pretty well convinced I've ruined my life and I honestly have nights where I think it isn't worth it to go on. Did undergrad and my first MA starting in 2000. Came out with approx 40-50k in fed loans 40-50k in private loans. Worked in a pretty good job in my field for less than a year when the recession hit and all our contracts dried up (the most recent hires were the first ones to be let go). I was living with my SO at the time, so I had a roof over my head for the six months it took me to find another job. This time it was a low-paying job in banking, but it worked. Three years later got a job at a public university. Made only about 25-30% more than I did at the bank, but it was a much better job. A few years in I decided to go for a second MA so that I could then go for a doctorate. Stupidly took out another approx 40k in fed loans for the MA (I had a job, tuition remission that covered all but about 1-2k in fees and books every semester. I have no idea why I did this and will never, ever forgive myself for it. This is the biggest thing I beat myself up on every day). Got into a great PhD program, have taken out another approx 40k to supplement my stipend and help pay for fees/books/insurance/etc. and will finish this spring. Of course this is a terrible time to be graduating anyway, let alone with 160k+ in debt (40k private, rest in fed). To make matters worse my SO (now ex) called the week before finals my first semester and told me he didn't want to do this anymore and was changing the locks. We had rough patches over the years (we had been together for 13 years) but I had been driving back home every few weeks so we could spend time together and I thought things were going fine. Then I found myself without a permanent residence a few weeks before Christmas. Now I'm a semester away from graduating with more debt than I can imagine. I'm applying for jobs left and right but the market is obviously tight for everyone right now, so despite being an excellent candidate there's still a good chance I won't get a good job out of the gate. When I started all this I had the security of knowing I had a home to go back to in a city where I could find some kind of job to help with the bills even if it wasn't a great one right away (I have never, ever considered myself too good for any job and have always worked). Now I don't even have that. The house and everything was in his name. I just contributed to things like groceries and furniture and had even paid for the fence in the backyard so the dogs could run and paid for a new furnace when the old one went out. I asked my parents about moving home and now they've basically stopped talking to me. Some of my friends had me come stay with them for a few days because I was having suicidal thoughts. I've told my family that it has gotten that bad and still they won't talk to me about it. And now, everyday, there are more and more intrusive thoughts running around my head about how much I've screwed up my life. On top of the school loans I have a little under 2k on a CC with a 21k limit, I've had this card for 19 years. I have another CC that I've had for about 10 years. I don't exactly remember the limit on it, but there isn't anything on it so I'm using 0% of whatever it is. My credit score according to my Citi card is 830, but on the advice of someone in the forum I checked Experian and it came back with 761 and 768. So quite a bit lower than I had been thinking which has got me messed up. Current intrusive thoughts include: - I'm never going to be able to rent an apartment with that level of debt, even if I get a decent job making 50-60k a year (the general starting salary in my field), let alone if I have to get a job making less just to have some income. So me, my dog, and my cat are going to end up sleeping in my car and living out of a storage unit.
The new one today:
I'm a mess over all this. At this point I can't tell what are valid thoughts and what aren't. I counted them up and between anxiety, depresses, and ADHD I'm on seven different psych meds a day. I don't have anywhere to go or anyone to turn to. I thought I would be fine out here by myself and paying the rent and bills alone, but seeing that much money leave my account when rent and bills are due is sending me into anxiety and depression spirals like I've not experienced in years, maybe ever. I've gotten paranoid about having more than one light on at a time, running my TV or any of my appliances, and have panic attacks when I shower because I'm worried about wasting water. I can't bring myself to eat much of anything because I'm convinced I'm going to run out of money/food and should save what food I have in my house in case I need it to feed my pets. Can someone give me some perspective? Tell me how I'm ever going to get out from under this? Let me know that there is going to be a light at the end of the tunnel? It's bad right now and I've reached out for help buy my head is still all messed up. I don't know what else to do. [link] [comments]  |
| Beginning student loan journey Posted: 07 Oct 2020 08:20 PM PDT Hey y'all. I know there's been a lot of posts of people paying off their loans and you're sitting there thinking "shet.. when am I gonna get there?" Well. Here I am to give you some hope. I have about 160k in loans. Paid $0 so far. I'm just beginning my journey. The only thing keeping me alive is the fact that it's all fed loan and there's the 0 interest forbearance. Let's hope the interest rates never come back or come back reaaaaaallly low so I can survive and eat my budget-friendly mac-n-cheese. [link] [comments]  |
| Posted: 07 Oct 2020 01:37 PM PDT Do you honestly think there will ever be any kind of student loan forgiveness? Would love to hear from anyone who closely follows politics. Thanks. [link] [comments]  |
| Posted: 08 Oct 2020 01:24 AM PDT Hello! I am working for a Higher Education Management company, and I am doing a small and personal research on scholarships/governmental grants across the world (specific to each country). Therefore, if you guys could let me know one/a couple of scholarship/s specific to your country (specifying the country as well) that would allow you or others to study abroad by receiving funding from that scholarship institution, it would be wonderful! [link] [comments]  |
| Posted: 07 Oct 2020 11:41 PM PDT Currently have about $240k in federal student loans at an obscene 7.25% rate. Been on REPAYE hoping to get loan forgiveness. I had a big jump in income last year, though, I that I hadn't necessarily planned for, so my payments under REPAYE next year are scheduled to increase significantly. My plan going into the year was to give up on forgiveness and refinance into a private loan to keep the payments more stable, but then COVID hit and the loans are in forebearance. Since the interest rate has been temporarily dropped to 0%, I haven't bothered to refinance yet. Once the forebearance is lifted though, my payments will go up and I still plan to refinance. My question is should I go ahead and refinance now? Wait until the end of the year to continue to save up some money and take advantage of 0% interest? Any thoughts on the chances that the current forbearance program gets extended beyond the end of the year? Rates are great right now so it is a good time to refinance, but I'd love to take advantage of the 0% interest for as long as possible. I'd hate to refinance and then find out that the current forbearance program ends up gets extended for another 6 months or even a year. If that happens, refinancing may not even be a good option for me at all. [link] [comments]  |
| FASFA Noob, First Time Independent Student w/ 25K in Bank Account - Am I screwed? Posted: 07 Oct 2020 10:17 PM PDT Hey everyone. Hoping I didn't screw myself. In comes the current assets question... I am an independent 26 y.o first time student applying for fasfa. Just got to the portion where it asks about my current assets. Right now my savings is inflated because I was investing on behalf of my father and I both. 80% of this is not mine. If I send this money back to his account before I answer this question am I going to get in trouble with the IRS or fasfa? Pretty new to all of this. Couldn't find any answers for independent students seeking fasfa like myself, mostly kids with small savings amounts. Made 59K combined with my spouse for the year in question. Looking for any and all advice. Thanks everyone. [link] [comments]  |
| Posted: 07 Oct 2020 08:17 PM PDT Hello! So, I was in college for a semester in 2019, my financial aid was filed improperly (due to me being a first time college applicant, graduating early, and choosing to go to college on a whim) and to remain in school I would have to pay $1100 out of pocket a month, so I left. About a year ago I filed for the PAYE repayment plan and that left my monthly payments at $0, I'm wondering if paying extra on my loans will help boost my credit score, since even without actual monetary payments it shows that I'm on time and have never been late. Will throwing extra money when my payment is currently $0/month towards my loans do anything to boost my score? [link] [comments]  |
| Posted: 07 Oct 2020 07:05 PM PDT If my payments will always be 10% of my discretionary income, won't paying off a $2000 loan... not do anything? I'm asking because I'm thinking about DTI and mortgage. The obvious answer is 10% of income is 10% of income, no matter what. But I'm hoping that assumption is incorrect. (Edit: $73k all federal of which 15k unsub at 6.8, 12k grad unsub at 6.08) [link] [comments]  |
| Posted: 07 Oct 2020 06:59 PM PDT I have the option of switching my SallieMae loan to iHelp SLFC. What do you guys think of iHelp? I haven't been able to see much reviews. Is it also better to take out more money for 1 year and then save it so I can take out less money during my 2nd year, or is better to just take just as much as I would need every year? [link] [comments]  |
| Question on refunds during covid Posted: 07 Oct 2020 06:21 PM PDT Hey everyone, In spring 2020, I enrolled in a masters program abroad. Shortly after enrollment; I withdrew from the course and was granted a full refund of my Fafsa loans from the school. Due to covid; the school delayed for months as it wasn't sure who to refund (me or Dep of Ed). Sometime during the summer it received word from a Dep of Ed rep that they were to refund me personally. There was some delay to this as well, but ultimately it arrived to me recently. In this time, I enrolled in a different program in the US for the fall. Since all this, my loan servicer has cancelled one of the loans, and set it to $0, and the other loan has been put in deferment and set to the amount of $0. I have called them about refunding but they just direct me to this fact in my account. I am unsure what to do going forward. If anyone has any experience with this then please tell. Thanks [link] [comments]  |
| Posted: 07 Oct 2020 02:11 PM PDT Hey all, I am in the middle of my 7th refinance in 6 years and have been with several different lenders. Over the years I have found different lenders were the "best" during different times, but it's hard to track besides applying to all of them each time (which I've done before). With rates at historic lows and so many different lenders to choose from, I was wondering if people could share their most recent refinance rates for comparisons. Preferably only those who have refinanced in only the last few months. I'd like to know: Lender- Loan amount, rate, term, fixed or variable. Thanks! [link] [comments]  |
| Question about Loans for Associates after Bachelor's Posted: 07 Oct 2020 11:58 AM PDT Howdy y'all! I am currently a graduate student, but realized that the path I'm taking isn't for me right now. I'm looking to get a technical degree to shift careers into what I actually want to do, but am having questions about funding it. I currently already have about 23k in unsubsidized loans out from my bachelor's and current master's, but would need about 10k more to pay for the associates. From what I understand, I'm still below the undergrad unsubsidized loan limit, so theoretically I should be able to take that amount out. What I'm wondering is, if I already have a bachelor's degree, can I still take out unsubsidized loans? Are there any limitations that apply? The school rep I talked to for the associates said that they can't offer loans if I already have a bachelor's, but shouldn't I still be able to get some federal support? Thank you in advance for the help! Edit: I really appreciate the concern about my master's degree and progress within it, but for personal reasons I simply cannot continue it. I'm looking for advice for the new career change and associates and how loans will work within it [link] [comments]  |
| Posted: 07 Oct 2020 05:50 PM PDT My husbands private loan sits at about $38K at 6.75%. Only $250 is interest, the rest is principal. Should we look into refinancing for a lower rate? [link] [comments]  |
| Best place to consolidate my student loans? Posted: 07 Oct 2020 05:29 PM PDT |
| Posted: 07 Oct 2020 04:21 PM PDT I owe 9k in federal loans. But my biggest problem is with Sallie Mae, with whom I owe 82k. (I've made some mistakes--went to an out-of-state school, transferred schools without reading the clause of my scholarship to the first school, going to college at all, etc.) I just put my last eligible forbearance on my loans, so come January, I'll have to start paying $1,200 per month (most of which is interest--my interest rates are wildly high). My cosigner (my mom) got laid off and went from 80k/year salary (what she was making when she originally agreed to cosign) to $15/hour. I finally got a job in my field as an environmental specialist (as of 2 weeks ago), but get paid $18/hour. I thought that'd be enough, with strict budgeting, but I get $200 taken out per week in taxes plus have other bills like rent, car loan/insurance, etc. Anyway, I've tried everything. I can't consolidate or refinance because I don't make enough, and my cosigner doesn't make enough either (anyone have any suggestions for places with low standards for their acceptance rates??) Because my loans are private, the military would only pay back a very low percentage of what I owe, and it wouldn't be worth the years put into it. I keep seeing people say put extra money towards the loan to pay it off faster, but I can't even make the original payment, let alone put extra money towards it. And even suicide would only put all the bills on my cosigner, who has made it clear that she'll die from stress if I don't get this taken care of soon. I don't know what else to do. Anyone have any suggestions at all?? [link] [comments]  |
| Posted: 07 Oct 2020 03:36 PM PDT I graduated in 2012 and realized my financial aid and FAFSA were inaccurate. My father passed away my freshmen and I hit a scholarship cap imposed by my university. Is there anyway to investigate and have this corrected? I've been lying off my student loans timely since then, it's been a struggle but I've never missed a payment. Any suggestions? [link] [comments]  |
| Posted: 07 Oct 2020 11:40 AM PDT Hello! So I will be starting school again and this may sound like a dumb question but I need some advice. I am receiving some financial aid in the form of pell grants. However, I will still need to take out loans. I know I am also offered/eligible for some amount of direct subsidized and unsubsidized (federal). I also need loans to cover the cost of living while I'm in school, how do you go about doing this or taking them out? I would prefer to stick to only federal loans please. How can you take out more? Etc. Thanks in advance! [link] [comments]  |
| Phasing out of Income Driven Repayment? Posted: 07 Oct 2020 01:34 PM PDT I'm single & have about 300k in federal loans (yikes, I know) at 5-7% interest rates. I've been on IDR for about 6 years. Is there a certain income level where I would no longer qualify for this plan? I'm torn between refinancing my loans now or just staying on this plan for another 14 years with a hefty tax bill at forgiveness. If someone has a calculator to help figure this out, please drop a link. Thank you! [link] [comments]  |
| Any updates to McCormick v. Adtalem Global Education Inc? Posted: 07 Oct 2020 12:54 PM PDT I know the final hearing was today, curious if anyone got any sort of updates. [link] [comments]  |
| Move into a 1 BR next august, or stay with 3 absolute strangers? (14k loans) Posted: 07 Oct 2020 12:28 PM PDT Hello everyone. I'm at a dilemma of sorts and would love to hear some advice. Edit: I'll not be moving until I finish school next august. I'm not moving while I'm on savings. I'll be moving when I finish, and get a job. I think there was some confusion with how I wrote things here. Currently, I'm in my last year of my MAcc degree. I'm also working on taking the CPA exams. I should be done with everything (if I pass my cpa exams on the 1st attempt lmao) By august next year. Here's my snag. I live with 3 other people. I'm a neat freak. The kitchen is constantly full of dishes, and crumbs, and junk everywhere. (I've talked to them about it. Nothing changes) I'm tired of people outside my apartment screaming at 3am. I'm looking for my own space. I'm 28 years old, and will have about 14k in student loans when I finish my masters. Also, not to get too tmi, but I am pretty big into kink activities that make noise. I can't particularly do that with roommates living with me. That's cool, but I'm really missing that, and missing having people over. (Yay quarantine) The apartment I"m in now is 635+ utilities. It's the one I signed, and I get 50 dollars a month off that additionally if I sign. It ends up being about 8k savings a year. I'm not working right now because I'm in an accelerated masters program (2 years in 1) and preparing for CPA exams. Both of those things are a lot on their own, and I don't feel I could work and still pass the exams. The 1 bedrooms are around 1100-1200. They're nice, smaller, but nice. I'm so ready for my own space, and privacy. I don't currently work because of school, and exams, but from what I've seen, Cpas or CPA passing individuals start from 55-60k depending on area. Is it a bad decision to upgrade? Also, I own my car so no payments there, and don't really have any consumer debt like credit cards or any medical debt. Just the 14k subsidized undergrad loans. Part of the reason I put in all this effort was to get to a place where I could have my own space. Otherwise, what was all this for? I'm mostly looking for opinions from y'all. What would you do? [link] [comments]  |
| Loan in Collections, School won't let me register. Posted: 07 Oct 2020 08:38 AM PDT I got really sick my Senior Spring semester and was not able to complete my degree. Though I was working several jobs while dealing with an unknown illness, I wasn't able to afford the payments on a private loan, and they were fixed, so it went to collections. The loan was a private Eagin Loan and the payments were made through the school? I want to complete my degree, but they won't allow me to register until I pay off the collection. Is this something they're allowed to do? I'm making payments on it, but they want the entire amount paid off before I can register again. [link] [comments]  |
| Posted: 07 Oct 2020 08:07 AM PDT This might bite me in the ass since reddit, I would say isnt someplace to get advice on really important loans but I just don't care. What student loans are the best? Sofi? Ascent? Any tips? I'm a sophomore and my parents are tapped dry already. I need help, but its no rush. [link] [comments]  |
| My parents paid off their collections and I have a question Posted: 07 Oct 2020 07:55 AM PDT So my parents paid off their collections amount and I helped boost their credit score from 541 to 701ish. Will we be able to take out private loans or student loans now? [link] [comments]  |
| It has been real, good luck to the rest of y'all. Posted: 06 Oct 2020 05:35 PM PDT |
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