'I paid off my student loans' Posts Student Loans |
- 'I paid off my student loans' Posts
- how can I get this paid off faster
- Better to pay off ~$30k in student loans in short term (3-5 years) or long term (5-8 years)?
- Parent Plus Loan Discharge
- 300k loans as a dentist but want to change careers to software engineering
- Help
- Is it too late for me to open a 529?
- Debt debt debt
- Reduced monthly payments or switch to income driven plan?
| 'I paid off my student loans' Posts Posted: 27 Nov 2020 10:49 AM PST I could have sworn I saw a few months ago that there was a requirement to add detail to how one paid off their loans. Detail such as:
Personally, I am always happy to see these posts but I think the missing detail is crucial, especially for those who are new to the sub. Edit: I tried to find the post I was referring to but couldn't find it. I may have come across that idea in /r/personalfinances maybe. Either way, I wanted to say thanks to everyone who is providing their input; it has been fun and interesting to talk with all of you. Another Edit: One possible option that came up would be to add a new flair option differentiating between 'Celebration' and 'Detailed Celebration' of sorts [link] [comments]  |
| how can I get this paid off faster Posted: 27 Nov 2020 07:08 PM PST Trying to stay positive but my debt has felt crushing recently. -2019 grad 76K in private loans through Sallie Mae (Was incredibly naive/stupid & let the interest explode while in school- lesson learned) -Started making payments 1 year ago today & down to 64K. Variable @ 9.5%. I know I need to refinance but receiving mixed advice and haven't pulled the trigger yet. Sofi offering fixed rate @ ~6% but extending the length of the loan. Earnest offering same term @ ~6% but monthly payment will be exorbitant. Any other refinancers you would recommend?? Is extending the length of the loan not necessarily a bad option if I am paying more than the minimum?? -Income @ 50K. I'm living as absolutely frugal as possible (no car payment, literal shoebox apartment) & started 2nd job on the weekends. Putting everything I can towards this, but feel like I'm barely making a dent. Is there anything besides refinance that I should consider or just refinance, stay the course and keep chipping away? [link] [comments]  |
| Better to pay off ~$30k in student loans in short term (3-5 years) or long term (5-8 years)? Posted: 27 Nov 2020 09:54 AM PST Essentially, the situation for me is that I have steady income, a good amount saved (I can pay this all off tomorrow if I wanted), and my loans are at a reasonable rate of 4.5 percent. Right now, I make payments above the minimum, but could make payments a lot higher too. I am just choosing to save that money instead of devoting it to student loans. By my understanding, I obviously would be paying more in interest paying this over time, but the extra interest overtime on this loan does not seem prohibitively onerous. My question is that should I just keep making payments at a lower rate and put more toward saving in my Roth and 401k or should I just double down and try and get rid of the student loan debt ASAP? Thanks! [link] [comments]  |
| Posted: 27 Nov 2020 03:32 PM PST Does anyone know how to relieve their parent of parent plus loan debt if they are currently disabled or if the student can relieve it for them? My mom has an anoxic brain injury and is unable to do any type of daily tasks like walking, talking writing etc. and I don't want her burdened with the stress of those loans. Any advice would be greatly appreciated. [link] [comments]  |
| 300k loans as a dentist but want to change careers to software engineering Posted: 27 Nov 2020 06:32 PM PST I graduated dental school in 2019 and have been working as a dentist for about a year. Unfortunately, I hate being a dentist and it hasnt gotten any better since graduation. It is such a physically and emotionally demanding career where I always have constant thoughts of quitting. I always feel so stressed and exhausted after work that it has been affecting my personal life. I really cant imagine working in this profession for another 25-30 yrs. I really regret going into dental school. I feel like I am unable to quit this profession because I have 300k in loans. I know I will not be able to find another career that will have the same income potential as a dentist. So I really want to get into the tech industry. I really enjoyed the intro cs courses that I took in undergrad and am still learning how to code on the side. I wish that I had gotten that route in undergrad, but I was so focused on pursuing dentistry at the time. My question is, if I do pursue software engineering and give up dentistry, would it be financial suicide to do so? I was thinking of doing IBR, but I am deathly afraid of that tax bomb at the end. Are there really any financially stable options for me at this point? [link] [comments]  |
| Posted: 27 Nov 2020 07:22 PM PST I am currently a high school senior and plan to attend Bentley university to get a degree in finance in economics, it's my number once school so I'm not so worried about student debt because I look at it as an investment. Any advice on the best loan options Thats I should look into? My mom makes about 60k a year so I know my financial aid won't be good. [link] [comments]  |
| Is it too late for me to open a 529? Posted: 27 Nov 2020 06:44 PM PST I'm currently a high school junior. I don't have much in the way of savings (my parents have 6k and I have about 2k) so I'm thinking about opening a 529 and combining all the savings into that account. I know it's way too late for me to get any large benefits or compounded interest from the account itself, but I was wondering if opening a 529 is still a good idea? I only recently found out what it was when researching non-student assets for FAFSA (I'm gonna be filling it out next year). As far as I know, it seems to be a good idea since it's not considered a student asset. However, with all the restrictions about what kind of education-related expenses that the money can be used for, do the benefits still outweigh the cons of me opening a 529 right now? Thanks! [link] [comments]  |
| Posted: 27 Nov 2020 05:06 PM PST I am in 90k in student loan debt after getting my masters degree😖😖😫😫😫😫😫 I cant even fathom how long it'll take me before I it's all paid off. Student loans really suck man [link] [comments]  |
| Reduced monthly payments or switch to income driven plan? Posted: 27 Nov 2020 04:52 AM PST I recently have incurred some additional monthly living expenses that I'm looking to budget in order to save more (emergency fund replenish, extra spending monthly) and have found that loan repayment amount may be a good place to save some money. I am currently paid ahead on loans with $0 due and am on standard repayment plan. My question is what are some of the pros/cons of paying $0 or "naming my price" so to speak vs switching over to a new income driven plan? I imagine these expenses will not be permanent but only for a year, if that helps. I'm open to suggestions! TIA! [link] [comments]  |
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