Paid in full! Next stop, IRA Student Loans |
- Paid in full! Next stop, IRA
- Anyone use IBR to payoff loans faster?
- I know this is a common ish question, but I want to make sure I understand..
- Paying back US student loan in foreign country
- IDR..
- Giving Tuesday Was Yesterday - but if you missed it..
- Were companies allowed to capitalize on federal student loan interest during the covid forbearance?
- Company Tuition Reimbursement + School Scholarship
- FSA says I have no Loan Servicer, yet Servicers keep calling me about my loans?
- 0.000% interest rate on loan but statement shows interest balance ???
- FFELP consolidated loan payoff
- Monthly spending advice/170k student loans
- Take out student loans to pay for rent while in grad school?
- Taking out an international loan?
- Probably getting kicked out
- Borrower’s defense appeal
- Anyone else have a totally exhausting time trying to get their loans out of default?
- Does interest stop accruing from the first student loan if I go to graduate school? (Subsidized loan)
- I almost got scammed (but they got some info), please help!
- Tip for financial stability needed
- Perkins Loan - Paid a Day Late This Month, A Few Days Late A Few Years Ago
- Student Loan Payment Help
- Deciding between community, private loans， or taking the semester off.
| Posted: 03 Dec 2020 12:06 PM PST I sent in my final Navient payment today! I initially took out $32k, and have paid them off in 6 years at a final price tag of $43k (ugh, that interest could have bought a car...). I lived on my own and paid all my own bills during that time, otherwise I would have killed them sooner, but I suppose the better quality of life was worth $11k. Next stop is Vanguard - I'm going to take the $400/month I was previously dumping into student loans, and start building up my IRA instead. If nothing else, at least my loans were training wheels for making a monthly payment towards something important, and now I get to obsess about a number growing every month instead of shrinking. Onwards and upwards! [link] [comments]  |
| Anyone use IBR to payoff loans faster? Posted: 03 Dec 2020 08:40 AM PST I just graduated with an MBA including 150k in student loan debt. Single mom and I make 70k a year. I plan on using the Dave Ramsey method to snowball all my debt- small credit cards and car note. But instead of taking the extended payment of $970 a month. I was wondering if anyone has used IBR and snowballed from there? Also how does IBR payments effect you when buying a house? [link] [comments]  |
| I know this is a common ish question, but I want to make sure I understand.. Posted: 03 Dec 2020 01:53 PM PST So it seems that a lot of people with substantial debt to income ratio opt to do income based repayments while saving for the tax bomb after 25 years. My question is: at 25 years, if you dont apply to have the balance forgiven, would an alternative be to just continue paying IBR for the rest of your life? My thoughts: my debt to income is gonna be rough when I finish my PhD, and the mental health field is not really known for being the money maker you'd think it is. It may be a few years before I get a solid, well paying gig. My concern is that if I did IBR during those first few years, the interest rate is going to make the amount owed larger than when I started paying back, and by the time I can afford to aggressively pay off my loans, I'll have dug an interest hole too deep to crawl out of. SO am I dumb for thinking I should do IBR til I die and just look at the 10% of my discretionary income payments as a small price to pay for being able to have the career I want? (Unless our government pulls a hail mary and gets rid of the tax bomb). [link] [comments]  |
| Paying back US student loan in foreign country Posted: 03 Dec 2020 09:29 AM PST Hello everyone. My girlfriend, who is not on Reddit is, from the US. She just finished her studies and started working a new job. She is in an European country. Wiring money from here to an American account to pay off the student debt is going to cost money. We are now trying to figure out a way to pay back her student loan without losing money on international transfers fees to her American account. Do you know if there is a special kind of payment method which one can use in such a situation? I highly appreciate every feedback. Thanks! [link] [comments]  |
| Posted: 03 Dec 2020 11:35 AM PST Yesturday, I was denied my application for my IDR. I was looking at my application and I spotted mistakes. Which might have been the cause for being denied. the question if my income dropped. I checked no; since I am not working due to mental issues. Can I resubbmit a new request> Or will I get in trouble, because I didnt check the right box in section 4B? I checked no. When I should have checked yes. [link] [comments]  |
| Giving Tuesday Was Yesterday - but if you missed it.. Posted: 02 Dec 2020 01:30 PM PST Hello friends. I have to say that this post makes me cringe but if I want to continue doing what I'm doing I've got to suck it up buttercup. For those of you that don't know this, I left my job three years ago and founded a non-profit called The Institute of Student Loan Advisors (TISLA). The mission of TISLA is to ensure that all consumers have access to free, expert and unbiased student loan advice. We do this by providing detailed student loan info, in plain English, on our website and by counseling people via email. We also, when needed, help with disputes. It's all completely free and we do not collect borrower info other than what we need to help them. We don't accept referral fees from loan providers to ensure we can remain unbiased. While I think i'm pretty good at student loans, I suck at fund-raising. I also don't have the time needed to focus on grant-writing so donations so far have been enough to keep the lights on, but not enough for me to take a paycheck. Thankfully, I've been able to cobble together some contract work to pay my bills most months and built up some savings before i launched to cover the leaner months. But that can't go on forever. The good news is that we now have an intern through a local college who is focusing on fund-raising for us. She created a giving Tuesday campaign for TISLA this year and suggested I share it here. If you are struggling, with your student loans or other things please don't donate. But if you happen to have been planning to give for Giving Tuesday anyway, and hadn't picked a charity, and you think our mission is worthwhile, I'd appreciate it so much if you considered TISLA. I love what I'm doing and would like to think that we can make a difference. This sounds corny but I really feel like this work is what I was put on this earth to do. So if you are able, our Giving Tuesday link is here https://www.facebook.com/donate/299474721344673/ Or if you know of a grant opportunity that might be a fit I'd appreciate the heads up. Finally, we also support ourselves with paid webinars on things like PSLF and managing student debt for employers and associations so if you know of one that might be interested I'd also appreciate the introduction. Ok, this asking for money thing makes me feel icky. But at least now my intern will stop yelling at me. Thanks for listening and thanks for all the kind words this group has given me in the past. It's helped keep me going on the bad days. Happy Holidays! [link] [comments]  |
| Were companies allowed to capitalize on federal student loan interest during the covid forbearance? Posted: 03 Dec 2020 12:40 PM PST I just checked my account to see what the payback date said (some people are saying their loan server already says February instead of jan), knowing mine probably wouldn't yet. I noticed, however that my server capitalized on the interest that I hadn't paid yet during forbearance so that it is now part of my principle amount for that loan. I was waiting to pay it off before loans started accruing interest again and payments to be due. Thankfully it was only a small amount, but it seems odd that they would be allowed to capitalize on the interest during loan forbearance. Does anyone know if this is right or not? Or maybe able to explain the rules on how (and when) capitalizing on interest works? It seems like if they weren't allowed to collect payments or for interest to further accrue, they wouldn't be allowed to suddenly add the interest to my principle loan amount (this happened in the last few months, because I checked the account in August). These are all federal student loans, so the forbearance applies. [link] [comments]  |
| Company Tuition Reimbursement + School Scholarship Posted: 03 Dec 2020 08:04 AM PST I currently get a 50% tuition scholarship from my college. Basically I would have to pay the full tuition first, and I get 50% refunded towards the end of the semester. My company also offers a tuition reimbursement through EdAssist that covers 100% of my tuition. Is it unethical for me to submit my full tuition bill for reimbursement to my company without disclosing the fact that I am receiving a scholarship? There are other expenses such as books etc. that I could really use the extra money for and I am unsure of the legality of it. [link] [comments]  |
| FSA says I have no Loan Servicer, yet Servicers keep calling me about my loans? Posted: 03 Dec 2020 09:02 AM PST Who am I supposed to believe? I failed out of College, under Financial Aid, and I was told by the school I'd have to pay a certain amount. But my FSA account specifically says "You do not currently have any federal student loans." And under the servicer tab, FSA says " You currently have no servicers" I am so confused. Why is everyone being so contradicting. [link] [comments]  |
| 0.000% interest rate on loan but statement shows interest balance ??? Posted: 03 Dec 2020 09:12 AM PST Can someone help me understand how a student loan statement (student is still in school) can show an Unsubsidized Stafford Loan with showing an interest rate of 0.000% but also shows an interest balance of several hundred dollars for the loan? Why wold there be an interest balance if the interest rate is zero? I am confused. I am trying to understand my friend's student loan statements to see if I can help her out on this. She graduates with a grad degree in a few months. [link] [comments]  |
| FFELP consolidated loan payoff Posted: 03 Dec 2020 12:48 PM PST Hello, I have tried for a very long time to figure this out but it remains a shrouded mystery. I have the following loans: $29,000: Consolidated FFELP unsubsidized $26,000: same terms as above AES is my servicer. My interest rate is 3.625 I want to pay them down quickly but right now, my standard repayment is almost $600/month. I'm considering just doing an extended repayment of some kind and throwing extra money at it each month to pay down principle. I'm not sure I qualify for IBR because my income is over $85k and their calculations don't take into account certain types of obligations, debts, and frankly I also want to save for retirement. I have about $13k with Navient - this are about $175 and I can keep paying those, they'll be paid off in under 10 years. Any advice? I can't navigate this labyrinth. [link] [comments]  |
| Monthly spending advice/170k student loans Posted: 02 Dec 2020 10:05 PM PST I recently graduated with 170k+ student loans. I was blessed with an amazing job opportunity in September 2020. I make ~105k/year. I posted a picture with my current monthly spending breakdown. I'd like to pay my student loans aggressively. So, I'd really love some advice about this: Putting 4k towards my student loans every month OR 2k student loans +1k high yield savings + 1k 401k every month. Right now I've budgeted for the latter. I know everyone's situation is different, so I will take your advice/opinion with a grain of salt, because that is what i'm looking for. If there is something that I can do to better manage my money, I will definitely do it. I am looking forward to seeing to a financial advisor, although i'm not sure exactly how they will help. I am 26, single, no kids yet, NW area [link] [comments]  |
| Take out student loans to pay for rent while in grad school? Posted: 02 Dec 2020 11:09 PM PST I recently got accepted into Texas A & M Commerce accounting graduate program and I live in florida with my parents. I am currently still paying off my student loans for my undergrad which is about 33k and I am not able to get a good job at all with the degree I got in undergrad (Communications) so I decided to get my masters in accounting. The graduate program I applied to does not require an undergrad in accounting. Anyways I plan to get my CPA while I do my masters. The issue im having is .. the student loans. Student aid gave me 30k in loans and 5k im gonna have to get elsewhere... (total for the masters program is about $35k). My issue is im gonna have to be working full time to pay for my apartment (Average price ~$800 per month) as well as doing the masters program full time and studying for my CPA. Would it be bad if I take out more loans to pay for rent to help with the level / amount of stress I would have during the program? I would be 75k+ in debt by the end of it all. Any advice/ suggestions? [link] [comments]  |
| Taking out an international loan? Posted: 02 Dec 2020 07:56 PM PST Hello everyone, I am trying to go to college in Japan with a student visa, but I am short on affording both the school and the living expenses. Is it possible to take out a student or personal loan in the US and be able to use it/pay it off while in Japan? What about Japanese loans? [link] [comments]  |
| Posted: 02 Dec 2020 07:21 PM PST My (18f) dad is threatening to kick me out. Again. Unfortunately, I have more reason to believe he might follow through this time. One thing that concerns me is I was hoping should he do something stupid I could apply for loans so I could continue to stay in my dorm. However, he has kindly mentioned he wouldn't co-sign any loans. Is there any way I could get around that? Could I force him to stop claiming me as a dependent by contacting the IRS or smth? I'm trying to plan for my future because I know I have good reason to worry. [link] [comments]  |
| Posted: 02 Dec 2020 06:20 PM PST Has anyone who got the mass denial, and replied as they stated to appeal the denial, heard anything about the appeal? Anywhere we can check on it at? I didn't appeal right away. We thought on it for a while for wording and things. But just annoyed at no response at all. We sent the request for reconsideration in the middle of October. [link] [comments]  |
| Anyone else have a totally exhausting time trying to get their loans out of default? Posted: 02 Dec 2020 06:20 PM PST I decided to finally try to take control of my loan situation this year, but damn, it's difficult getting everything straightened out. It took me forever to figure out who is servicing my loans. Every person I call forwards me to someone else, or needs documents from me that someone else has to send, or a multitude of other things. I need to call to make sure they got all of my paperwork for rehabilitation, and I'm dreading it. [link] [comments]  |
| Posted: 02 Dec 2020 05:03 PM PST Hi all, I am in my first year of community college but would like to know more information about student loans as I will be transferring soon. I will likely be doing subsidized loans as this sounds like the better option since interest does not accrue until after you graduate (at least that's how I'm understanding it). After I achieve my B.A., I will be going to graduate school to get my M.A. + teaching credential. Here's my question: After I graduate with my B.A. and the interest starts accruing, will the interest stop adding on once I go back to school for my M.A. + teaching credential? I figured because I would be considered a student again, the interest in the previous loan would pause until I finish my graduate degree. Am I understanding this correctly? I will be speaking to someone in financial aid in a few days to get clarification but maybe someone knows the answer here. Thank you in advance! Hope everybody is staying safe and healthy. [link] [comments]  |
| I almost got scammed (but they got some info), please help! Posted: 02 Dec 2020 04:53 PM PST So my mom has been handling my student Loans until I take over next month when I start my new job. We got this weird letter in the mail today saying Final notice at the top and saying how I can quality for loan forgiveness or lower interest etc etc. First off, the letter had my exact loan amount on it, and at the bottom in tiny print it said "we are not affiliated with the gov"? My mom called that number and after talking with them seemed really fishy. Something about an upfront payment of $1850 for document processing fees, and then how they will sign me up for a loan consolidation program of 20 years or something. I told my mom to hang up before they could get any of our banking information. The problem is now that they have my email, my date of birth and somehow they got my social security number too. They were even able to log into our FSA account and change the password without ever inputting the password. Like yes they have my email but my mom never told them the password so how did they just change it like that? Wouldn't I get an email first telling me that a password change has been requested? Anyways, im freaking out because they have all this information on me, should I call the police? Or my state's attorney office? I will be going to call my loan servicer and let them know the situation tomorrow. I am really worried about identify theft or like what they can do with my email, name, address, DOB, and SS. If anyone has any information they can help me with I will greatly appreciate it. [link] [comments]  |
| Tip for financial stability needed Posted: 02 Dec 2020 02:06 PM PST |
| Perkins Loan - Paid a Day Late This Month, A Few Days Late A Few Years Ago Posted: 02 Dec 2020 07:54 PM PST After a move and a funeral on the same weekend, I realized I forgot to pay my loan yesterday, but I paid it today. I believe I had a late payment of perhaps 3 days a few years ago, and I am over halfway through paying the loan. I am a worrier for sure, so am I in for problems? I did email both ESCI and my alma mater's loan department to apologize, just to make myself feel better. [link] [comments]  |
| Posted: 02 Dec 2020 10:19 AM PST Hi all, I have been reading through this subreddit for some time, and am hoping to get some advice/help on how to pay off my loans the quickest. I currently have ~$137, 500 in student loan debt, with $61,000 Stafford Undergrad Loans, and $ 77,000 as Graduate PLUS Loans. Currently, I am working towards my licensure in a mental health field, and make ~56,000/year. At this point I should be licensed and hopefully making over ~65,000 by next year. I qualify for income driven repayment, and have applied for this plan. The break downs of my loans are as follows: Grad Plus: $30,761 at 7% interest $2,545 at 7% interest $19,832 at 7% interest $23,393 at 7.6% interest Unsubsidized Loans: 4,944 at 4.29% interest 21, 834 at 6% interest 20,834 at 6.6% interest 4,221 at 6.8% interest 6,412 at 4.66% Interest Subsidized Loans: 536 at 3.4% interest 2,127 at 4.29% interest. I pay about $1400-$1500 total in living expensive/gas/insurance, etc. per month. My plan is to stay on income driven repayment, with a calculated payment of about $274 per month going towards both my graduate loans and my undergraduate loans, and I plan to put the rest of my income towards my highest interest loan until it is paid off. I am unsure as to if this is the best plan, any help or suggestions would be extremely helpful, as I feel a bit hopeless due to my situation at the moment. At this point, I am able to get a part time job but I work with an extremely difficult population in the mental health field and I'm unsure if I could emotionally tolerate no time off. Also, I am eligible for a loan forgiveness grant of ~15,000 in 2022. Again, any help would be appreciated, thank you all so much!! [link] [comments]  |
| Deciding between community, private loans， or taking the semester off. Posted: 02 Dec 2020 12:43 PM PST Hi, So my mom had an accident that left her on work man's comp for this semester. Unfortunately i still owe 7,000 for this semester. I only have 2,500 saved up. My mom should be going back to work by January, so summer semester and beyond will be fine with paying. I can't register for spring semester for my college because of my outstanding balance. The only choice I have is to take out a private loan, which my cosigner only has a 620 anyways. Take a semester off from my college, and take ivy tech courses to transfer back to my college so I don't fall too far behind. That will only cost me around 1800, and I can pay that in full. The other choice is to take the semester off entirely and come back summer semester. I am applying to ivy tech for spring semester with my high school transcript for 10 credits including calculus 1, physics , and statistics. I might add one more class. Since i can pay it in full, I can work throughout the semester. I can stay with my friend, or my boyfriend. I have a job lined up, and I'm working two right now. I am wondering if since I still owe money to my college if I can register for Ivy tech? Also, am I making the right choice with doing ivy tech over spring instead of private loans. I am also in Air Force ROTC. I am a freshman and this is technically my second semester, i took summer courses, but I am first semester freshman student. Thanks! [link] [comments]  |
| You are subscribed to email updates from /r/StudentLoans: Reddit's hub for advice, articles, and discussion about educational loans. To stop receiving these emails, you may unsubscribe now. | Email delivery powered by Google |
| Google, 1600 Amphitheatre Parkway, Mountain View, CA 94043, United States | |
No comments:
Post a Comment