Private loan issuer is asking me to start paying this January, but I’m still taking classes and don’t have any money. What do I do? Student Loans |
- Private loan issuer is asking me to start paying this January, but I’m still taking classes and don’t have any money. What do I do?
- How long will variable rates stay low?
- Did you buy a house with $40k student loans?
- Income Based Repayment Re-Certification - My (newly wedded) Spouse Is An Immigrant with No Income & SSN?
- Help with REPAYE calculator
- Paying loans this year, goes directly to principal?
- FAFSA Grad Plus Loan amount adjust
- Tax Reporting
- Lump Sums and Sallie Mae
- Nurse looking for a loan
- Can schools certify loans beyond your coa?
- Question on subsidized Loan and the Grace period
| Posted: 07 Nov 2020 04:19 PM PST Hi, everyone! My private student loan issuer (Wells Fargo) sent me mail, saying I must start repayment ($800+/month) starting this upcoming January. I'm currently taking classes at my local community college: 3 units this semester and I'm already enrolled for 6 units next semester. I emailed my WF representative saying that I'm still a student, but she hasn't gotten back to me yet. Will I be able to continue to push these loans off with my part-time enrollment status? [link] [comments]  |
| How long will variable rates stay low? Posted: 07 Nov 2020 04:33 PM PST I initially refinanced ~72,000 worth of student loans from 10% to 4.99 fixed (woo) back in 2017. Now that I have more income, I refinanced again to 3.84% variable and awaiting final approval. The time span is 10 years, which I expect to pay off in 3-4 years. The alternative was 4.5% fixed. I did the math and it seems to make WAY more sense to do variable in this market now where I expect rates to stay low for at least a year? I always HATED variable in college and grad school but I can't pass up 3.84%. It saves about 50 bucks in interest that can be applied to the principal each month. Any guesses on how long rates will stay low? I just need 3-4 years max. [link] [comments]  |
| Did you buy a house with $40k student loans? Posted: 07 Nov 2020 04:09 PM PST Is this possible? Right now I have about 10 years left at $445 a month. I also have federal loans but I qualify for PSLF as I am a teacher. Credit score is 730. Hubby says no way we will get approved with my student loan balance. [link] [comments]  |
| Posted: 07 Nov 2020 03:44 PM PST I am legally married to my spouse who moved here earlier this year, we are still waiting to get her social security number and she does not currently work. Legally, since I am married, I checked married in the recertification application, but my spouse has no SSN to make a studentsid.gov account so we are stuck at having her co-sign. is "Married, but cannot reasonably access my spouse's income information" a valid thing to check? Technically, she has no income information and there is no way for her to have income information until the dhs and uscis send her a social security number :) i dont want to get hit with fraud accusations down the line. i am 3 years into working with a non-profit where people qualify for having their loans forgiven after 10 years; not trying to start that timeline over. my payment only drops by $40/month so its not anything dramatic enough to warrant the possibilities of future troubles. any advice? going to call loan servicer and studentaid.gov on monday. [link] [comments]  |
| Posted: 07 Nov 2020 06:35 AM PST Been a long time lurker here. I'll be graduating with a PhD in either June (early) or September depending on if things go well (if I happen to get a new job that starts July—typical for next academic year appointments—I'll need to finish by June). That's neither here nor there, though. Anyway, I woke up just wanting to run the numbers. Here are some details...
I ran the numbers in the Fed Student Aid calculator that brought up REPAYE as the best option (I know already that this plan qualifies for PSLF). Here's what was calculated for me. Does this look about right? I am questioning because in the Fed. Student Aid information on REPAYE, monthly payments are 10% of discretionary income (annual income - 150% of the poverty line currently $19,140.) That would mean at a salary of $35k my monthly payments would be $1586 NOT $174-136 monthly according to calculator. What am I missing here? Thanks in advance![link] [comments]  |
| Paying loans this year, goes directly to principal? Posted: 07 Nov 2020 03:54 PM PST This is going to be a dumb question. So due to covid no interest is being accrued. But is it true that any payment made this year is paid directly to principal? So if that's the case, theoretically, if there's a $80k loan, of which $60k is principal and $20k is interest. If I pay $60k, would that pay off the entire principal? And then next year when loans restart, I won't accrue interest? And secondly, if I lay off loans, including any accrued interest, is there any limit on how much interestI can claim on my taxes? Thank you for reading [link] [comments]  |
| FAFSA Grad Plus Loan amount adjust Posted: 07 Nov 2020 03:45 PM PST I was wonder if anyone knows if you can change the amount you get from the grad plus loan each semester (either increase or decrease) during the middle of the school year? I couldn't find any helpful information on this online. I know at the start of the school year you must renew the grad plus loan and you can change the amount from the previous year but I was wondering if you can change it in the middle of the school year. [link] [comments]  |
| Posted: 07 Nov 2020 07:24 AM PST Does Sallie Mae report tax information directly to the state listed as your "physical address"? Or is the onus on the individual to forward any documents/figures necessary with their return? [link] [comments]  |
| Posted: 07 Nov 2020 02:45 PM PST In a rather fortunate but bizarre situation but basically I'm a senior in school with a $54k loan from Sallie Mae (at 9.75% interest). By the time I graduate (due to working, strict budgeting and a few other aforementioned bizarre circumstances) I should graduate with approximately $50,000 in my savings. Again, a very bizarre set of circumstances. Estimated loan balance with interest by the time my repayment period starts would be about $59,000. Is the smartest thing for me to split that up across 6-7 months (while I find a job to pay the remainder) or to do one large lump sum payment on my interest and principle? I also have one federal loan of $12,000 with a much lower interest rate, but I want to focus on this one first. What are your experiences with Sallie Mae and lump sums, and how do I make sure I'm not just having that applied to future payments? [link] [comments]  |
| Posted: 07 Nov 2020 08:38 AM PST I am a Licensed Practical Nurse who entered into a bridge program in order to become an RN. Financial aid covered me for $21,000 and I am left to find coverage for an additional $15,000. I have tried Sallie Mae, Direct Loans via financial aid and various others but I cannot find approval. I have adjusted it to even just half of the amount along with a credit worthy cosigner and still have been denied. I am trying to understand what my next steps could be or even if there is any other way. Can anyone possibly point me in some kind of direction? Thanks in advance! [link] [comments]  |
| Can schools certify loans beyond your coa? Posted: 07 Nov 2020 07:51 AM PST I only get 1,800 after paying for all my classes at the university I attend and I have a 750 balance at the community college I attend which leaves me with 1,000 after paying that off. I requested 5,000 from a private student loan, I will probably bring it down to 2500 but do you think they'll accept? [link] [comments]  |
| Question on subsidized Loan and the Grace period Posted: 07 Nov 2020 02:58 AM PST Hi all, just wanted to ask this question before I do it. Due to COVID, my parents werent able to pay for my tuition so I decide to take out loan. Since next semester is my last semester, I will be only taking 6 credits. I am taking loans out to cover this semester (Fall 2020) I heard about the 6 months grace period, interest does NOT accrue 6 months AFTER the graduation (confirm with me if wrong) But I also hear how the interest DOES accrue if I dont enroll in school full-time. As mentioned, I am only taking 6credits next semester. Is this right..? Any advice will be appreciated! Thanks [link] [comments]  |
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