I'm saving so much money because of Covid. Student Loans |
- I'm saving so much money because of Covid.
- 170k in private student loan debt through Sallie Mae. Need help figuring out how to pay it off.
- How can I get money back from the government for payments towards my student loans that were mishandled if the account management company is now closed?
- In Default for Years, can I go back to school if I pay cash?
- When The Freeze ends What should I do? Can I do anything?
- How can I find my interest rate on my federal unsubsidized loans?
- Confirmation on what’s going on with my loans.
- Reasonable to pay off student loans in 11 months?
- Take out a loan or pay in full
- Bank Levy
- Student Loans Payment Question
- Loan almost rehabbed; question about payments once loan is back in good standing
- Currently, a Ph.D. student at a Dutch university that no longer has a FAFSA code. Other than Sallie Mae, is there a way to get federal student loans?
- Discover - Two Loan Issue
- Parent Plus Loan Questions
- GRAD Plus Loan Question
| I'm saving so much money because of Covid. Posted: 05 Dec 2020 02:14 PM PST So I am a freshman in college, and I did the math, since i stayed home this year b/c of online classes, I will be saving about $14,106 this year, and then I will be graduating a semester early because I got a semester worth of credits during HS. So in total, I will be saving about $27k. I know that this year absolutely is awful, but the one silver lining is that I will be saving so much money. Like $27k is enough to buy a nice new car. [link] [comments]  |
| 170k in private student loan debt through Sallie Mae. Need help figuring out how to pay it off. Posted: 05 Dec 2020 01:00 PM PST I graduated this past May 2020 and am now nearing the end of my loan grace period with Sallie Mae. My first payment is due on 12/17/20 and each month I will be paying about $2k back to Sallie Mae. I just started my new job in November (thankfully) but am not nearly making enough to keep payments steady for the time being. I am making $35k at my new job so most of both paychecks I will receive each month will go toward these loan payments. I am highly considering acting upon either forbearance for the time being or a Graduated Repayment Period plan that gives me the option to pay interest only payments for 12 months. Obviously, both of these options will increase the lifetime amount of the loans and I will be paying back more throughout the long run if I do take advantage of either of these plans. I also recently applied for a credit card and will be trying to boost my credit score over the next year so I can qualify to refinance my loans with a provider like SoFi. So, I wanted to come to the Student Loans Reddit community for advice on what I should do and if it is really in my best interest to potentially put my loans into forbearance for the time being so I can save up some money. I appreciate any help I can get! [link] [comments]  |
| Posted: 05 Dec 2020 10:41 PM PST A few years ago I got a bonus from my job. I took that money and told the company handling my government student loan to put it towards the principle. They wouldn't and said it would only be applied towards future payments. At the end of that year the money no longer showed as future payment and simply disappeared off my account. Shortly after my loans were sold to another company. I've tried going back to reconcile getting that money, but that company has since folded. Any advice? Can I go straight to the government since it was technically a federal student loan? [link] [comments]  |
| In Default for Years, can I go back to school if I pay cash? Posted: 05 Dec 2020 10:16 PM PST Hi, I'm in the process of getting my [act] together and I'm at a crossroad and have a few questions. Relevant information: I've been in default in my federal and (I believe) some private loans originally for less than $30k for 5+ years, to the point where they don't contact me any more. I'm considering earning an EMT certificate and pursuing that as a career path in the immediate or near future. I have enough cash to pay for the program and any necessary textbooks and equipment, I will not need a loan to pay for this schooling. Questions:
Thank you in advance for your help and input in this matter. I'll be checking on this post and will give more information if needed. Apologies if my questions are answered elsewhere in this sub-reddit, as I'm pretty bad at searching on here. [link] [comments]  |
| When The Freeze ends What should I do? Can I do anything? Posted: 05 Dec 2020 11:06 AM PST I know they just extended the Loan Payment Freeze for a month.. but these 2 months are going to fly by fast and I'm starting to stress. I became unemployed this year because of obvious reasons, & didn't get unemployment & I am struggling to find a job. & it doesn't seem like it's going to get any easier. I was paying what they told me to pay for the last 3 years because I was able to but now I can't. I'd be able to pay something, just not what they had me paying. But because I've been unemployed for months, I don't know if I even have options. What can I do? Just suck it up & keep trying to pay what they expect me to pay? is there anything that i can do? (I apologize for my stupidity, I just don't know what to do.) [link] [comments]  |
| How can I find my interest rate on my federal unsubsidized loans? Posted: 05 Dec 2020 12:25 PM PST Hello, I've been trying to find the interest rate of my unsubsidized loan on the financial aid website but I cannot seem to find it. Can someone guide me in finding this? I am preparing myself to start paying my loans and tackle the interest accumulated and want to plan accordingly. Any help would be appreciated! [link] [comments]  |
| Confirmation on what’s going on with my loans. Posted: 05 Dec 2020 08:02 PM PST Hi! I am a May 2020 grad with about 4K in Stafford subsidized loans serviced through MOHELA. I currently have all the cash to pay off the loan in full, however with the news that the forbearance period has been extended until January 2021; I am currently putting this on hold. Other than searching around this sub with the news, I just want to double check that my loan IS eligible for the continued forbearance. I have logged into MOHELA just to triple check, but understand there is some delay with servicers having to update accounts, and what shown might not be accurate. Can someone just give me the peace of mind that my loans "are all good" until January? (Hoping for a Biden loan cancellation though!) [link] [comments]  |
| Reasonable to pay off student loans in 11 months? Posted: 05 Dec 2020 04:08 PM PST I'm in my late 20's planning to start a job that pays 85k this February that goes up to 95k in 2022. Partner currently makes 65k. Only debt aside from mortgage is my federal student loan of 50k with interest rate of 7%. Our upcoming wedding is already paid in full and we are hoping to recoup some of our cost with gifts and such. We recently bought a 400k house, mortgage is about 1600 and we are planning on splitting it. I am planning to pay $3500 every month towards student loans, but I would not be putting any money into retirement during this time. Neither of us have much money into retirement, so I'm a bit worried we are very, very behind in that aspect. Our other sources of income include $1200/month profit from rental properties. I hate having debt over my head, and the idea of paying so much into my loans seem very daunting. I've been a poor college/grad student for the past 7 years and all I've done is save, save, save. [link] [comments]  |
| Take out a loan or pay in full Posted: 05 Dec 2020 06:30 PM PST I am about to start my last semester of school and since I am living at home, I saved about $15k. Should I use this money to pay some of my previous federal loans (about 95k at 6-7% interest) or just use it to pay my last semester's tuition? edit: new loan rate would be 4.30% with a 1.05% loan fee [link] [comments]  |
| Posted: 05 Dec 2020 06:29 PM PST I have a question about student loans. I have defaulted on my federal student loans and have had my wages garnished. The garnishment will resume in January. I do not qualify for student loan rehabilitation because I tried in the past and didn't complete it. Anyway, my question is if my wages are being garnished for federal student loans will they levy my bank account as well? Or will they leave my bank account alone as long as they are getting their money through wage garnishment? Any advice is appreciated. [link] [comments]  |
| Student Loans Payment Question Posted: 05 Dec 2020 05:58 PM PST It was recently announced that student loan payments are extended to Jan 31, but on my account, it says my next payment is due Jan 13. Anyone else in this situation? [link] [comments]  |
| Loan almost rehabbed; question about payments once loan is back in good standing Posted: 05 Dec 2020 01:34 PM PST Background: Currently I am living at home and not paying any rent. This has allowed me to sock away close to $2k each month while my loan makes its way through rehab. That should be done January/February. I'm guessing I should do REPAYE or IBR once I'm back to making payments to the loan holder. But I'd like to get out of the house and either rent or potentially buy (with help of course since my credit score isn't great) a house in the next year. Getting to the question: Because I'm not paying any rent right now, will the payment be higher than if I had, say, 1700 due each month for rent? Put another way, is rent used in their calculations for the loan payment amount? I'm trying to figure out if I should start paying my parents a mortgage-like rent (and have them put that towards me buying a house or whatever) so that when the loan people calculate my payment it will reflect what I will likely be paying next year. Thanks all. [link] [comments]  |
| Posted: 05 Dec 2020 11:09 AM PST Currently, a Ph.D. student at a Dutch university that no longer has a FAFSA code (they used to). Other than Sallie Mae, is there a way to get federal student loans? It's the University of Groningen. [link] [comments]  |
| Posted: 05 Dec 2020 06:17 AM PST I was wondering if anyone could shed some light or give some advice. I have two student loans with discover. One of them i stopped paying about 10 years ago, was charged off and i picked up the cancelation of debt on my income tax return. The other loan ive been making minimum payments on since it began. I have the cash and want to payoff the active loan but i dont trust trust discover. The charged off loan still shows up on my account online even though i cant make payments against it. My fear is that any payments i make additionally they will apply to the defaulted loan. Is there anyway to ensure i can payoff my active loan? [link] [comments]  |
| Posted: 04 Dec 2020 10:28 PM PST So I am attending uni this coming winter quarter because I deferred my attendance from fall to winter quarter over the summer. Will I be able to still apply for the Parent Plus Loan and get the loan money before Jan. 5th (The first day of the quarter)? I got $7500 in federal loans from FAFSA for this school year, but it doesn't cover everything so I was curious if I'm past the deadline or anything for the Parent Plus Loan. My dad has phenomenal credit and I have heard over and over again how Parent Plus Loans are loads better than private loans. Also, where would I apply if I'm not too late or anything? If you guys need any more information just ask and I'll make sure to answer. I'm just stressing out a bit over trying to sort out loans and shit. Thank you!! [link] [comments]  |
| Posted: 04 Dec 2020 05:59 PM PST Hello All, Quick background. I am not a college graduate. I have been looking for a loan to help pay for a certification program offered at Rutgers University. The total cost of the program is around $5,000.00. I have applied for private loans and cannot get approved for them. I was doing some research and it said that GRAD Plus loans can be used for programs that lead to certification. I applied and was approved for a GRAD Plus loan. However, I am a bit confused because it states that these loans are for graduate studies or professional students. The definition of a "professional" student varies and now I wonder if I would be eligible to use this loan for a certification program. Any help is greatly appreciated. [link] [comments]  |
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