Student Loan Extension Student Loans |
- Student Loan Extension
- Bc student loans
- Pay Off Student Loans w/ Personal Loans, good or bad?
- Getting acquainted with my student loans
- Post graduate loan help (UK STUDENT)
- Vent/Idea - Advocacy Re: Payoff Plans & Minimum Payments
- The tax bomb is 10 (20?) years after... but after what? What is the date that is the start of the period?
- Told Parents I'd Pay their ParentPlus Loans But Now Can't. Advice??
- Prequalified through Splash
- Private Student Loan Advice During Gap Year(s)
| Posted: 26 Dec 2020 05:26 PM PST I know we should probably start preparing to repay in the next month just in case, but does anybody think we'll receive another extension once Biden and his team enter office since tons of families are still having trouble financially? [link] [comments]  |
| Posted: 26 Dec 2020 02:28 PM PST Hey all... I wasn't sure where to post but I'm wondering if someone with knowledge in this area can help. Im upgrading so that I can go back to school. My course alone will be 30k for two years. I'm 30 years old with two children and recently almost debt free. I only have one debt left, it was 680 and I've got it down to 480 left.. which I'm making monthly payments on that. I did have a few things in collections for a while so my credit isn't great right now but I am rebuilding my credit. My question is if I apply for a student loan in bc will the full amount be approved? I've never applied for a loan before and I'm not sure how it works. I don't have any savings so I would be relying on this loan to pay for the entire tuition. I do have a full time job. Also even though my debt is almost gone does having debt in the first place for a few years ruin my chances of approval? I'm hoping to get into this course for September and so I'm putting feelers out now so I know what to expect! Thanks so much! [link] [comments]  |
| Pay Off Student Loans w/ Personal Loans, good or bad? Posted: 27 Dec 2020 01:12 AM PST I've read that was not a good idea because of "tax benefits." But I want to know if someone made this approach, or had pondered the thought. [link] [comments]  |
| Getting acquainted with my student loans Posted: 26 Dec 2020 11:44 PM PST Hello all. I'm currently a senior in college who will graduate in June. I will have $15k in student loan debt with loan servicer edfinancial. My dad has taken care of most of my educational finances while I have been in school but I am responsible for the repayment of my loans. What resources/videos can I study/watch to understand the complexity of repayment and such. TIA [link] [comments]  |
| Post graduate loan help (UK STUDENT) Posted: 26 Dec 2020 05:16 AM PST I am a foundation degree holder in the UK (uk citizen). I am looking to top up my degree to a bachelors (BSc). I am in work, however have bills and a house to pay for. I know I can apply for student finance UK to pay for my tuition fees, but would I also be legible for a maintenance loan from student finance too? I probably will have to cut my hours at work in order to do the top up degree (it is all distance learning however), which will lead me to not being able to afford my rent and bills without additional help. My family cannot financially support me either. Would I be eligible for this? Or is there anywhere else I can go (except a bank) in order to get a grant as a post graduate student to help me with my living costs? Thanks x [link] [comments]  |
| Vent/Idea - Advocacy Re: Payoff Plans & Minimum Payments Posted: 26 Dec 2020 09:46 PM PST After some frustrating months with University Accounting Service trying to figure out why an above minimum payment doesn't seem to be applied to the principal correctly (selected curtailment to apply excess to principal) AND just incredible frustration looking at balances that don't seem to be going down at the rate I'd expect...I have a policy/advocacy question. I would really, really like to know why there isn't something like the CARD Act for student loans, especially to require lenders to inform borrowers how long it will take to pay off an existing balance if they just pay the minimum due each month....or to require them to have a payoff calculator based on the current terms....or to require them to show original principal vs. capitalized interest. Has this come up before? In addition to my congressional reps, is there a consumer advocacy group that I can write to suggest advocacy/lobbying on this? Between my spouse and I, we've dealt with several loan services, and this info is NOT consistently provided. I know some of this information is required in your disbursement paperwork, but after some years of forbearance, it's hard to keep track of what that looks like. I'm literally still paying on a $5000 original principal with a 5% fixed interest rate 11+ years out of undergrad with ~$2000 left to go... I expect the interest would have been capitalized, but of course, I don't know what that number is because it was 11 years ago, and their website doesn't show me. Edit: Related question: does anyone know if there is something like the Schumer Box requirement for student loan financial lenders? [link] [comments]  |
| Posted: 26 Dec 2020 09:28 PM PST Is it the first day of undergrad? The day you graduate? The day you sign up for an income driven repayment plan? [link] [comments]  |
| Told Parents I'd Pay their ParentPlus Loans But Now Can't. Advice?? Posted: 26 Dec 2020 09:03 PM PST I am a senior at a large, well-known (not ivy) university with a finance degree going into real estate. I expect to be making 70-80k. My 25k student loans are federal which I feel is very doable and have a plan to pay it down in about 4 years. My parents took on 100K in Parent Plus loans and their combined pre-tax income is 100k. They're over halfway through their mortgage and my dad is one year away from retirement, and he planned on using a portion of his retirement saved up to pay off the house. Combined a little over 600K in their 401K, not sure about current cash or other investments, and the house is worth about 280K. (I learned this over several years) I definitely will help pay theirs down, but I don't expect to be able to truly help until at least 3-5 years. At the beginning of school, I thought I'd go into investment banking and expected to make over six figures. I logically told them I would pay it back and not to worry. But over 2 years as I took more courses and talked with more people I realized IB was not my cup of tea. I could not imagine working there long enough to pay down the loans. Now I feel awful that I'm going to have to tell them I don't think I will be able to pay their portion of the loans back, and at least not for a few years. I'm not sure how to talk about it with them? I feel like a failure because it was definitely stupid taking on that much in my parent's names, but they trusted I researched and would follow through. I just didn't go in the direction I had originally planned. Should I suggest ways to make it easier to pay down like refi our house or use a portion of their 401K? I feel like that hurts their retirement plans, but I don't want to stress them out with large loan payments all of a sudden. [link] [comments]  |
| Posted: 26 Dec 2020 02:43 PM PST Hello, 22 year old here new to the world of refinancing so I'm sorry if I seem a bit naive here. I just got mail from Splash saying I'm prequalified for refinancing, so I went to check possible rates and got a 4.95% 7 year offer. I currently owe $70,500 to Sallie Mae at an average interest rate of about 9.7%, so this offer seems very enticing. My question is how likely is it that I will actually get accepted because of prequalification? I currently have a credit score of about 680 and make 34k/yr but will go up to 45k in a few months, so actually getting accepted with such a low income to debt ratio seems too good to be true. Is it worth applying anyway in light of the credit hit? Should I wait until I get the raise, or will that still not be enough? It feels like I'm making no progress at all on these loans as they are at 9.7% and would have much less financial anxiety if I could get some relief through refinancing. Thanks for reading, if there's any further information you would need to help me out, please let me know. [link] [comments]  |
| Private Student Loan Advice During Gap Year(s) Posted: 26 Dec 2020 11:27 AM PST Hi, I was wondering if anyone a bit more loan-savvy than I could provide some insight to my current situation as I am a first-gen grad and my mom and I aren't sure where to go. As the title suggests, I am referring to my private student loans as I seem to have the federal ones figured out. I graduated in May 2018 and have ~$35,000 in debt from Sallie Mae. I have been taking gap-years since and I will begin medical school in Fall 2021, so it'll have been 3 gap years by the time this happens. My payments are currently $746/month and outside of this, Sallie Mae offers two options: 1) forbearance for a year and then 2) interest-only for a year. My first year post-grad in May 2018, I had a 6 month grace period until Jan 2019 and I was only working part-time after that until I found a research job and moved in August 2019. I utilized the forbearance from Jan 2019-Jan 2020 because I was unable to be making $746 payments each month and then needed to get my feet on the ground for a few months after moving. I used this until Jan 2020. When Jan 2020 came, my forbearance was up and I had to either pay $746/month or do interest-only. $746 each month is nearly the cost of my rent, it is virtually impossible for me to make these payments and my family is not in a spot to be making these payments for me. So, I chose interest only until now. This will be up in January and the full amount will be due again, but my research salary is rough and only $36,000/year. So, I guess my question is: do I have any other options? I was thinking I could refinance and try and get a lower monthly payment that is more manageable. Again, I am the first in my family to have to be doing this, so obviously there is a bit I would do differently if I knew what I know now when I started. I just need to make it til August when school starts again and I can forbear as a full-time student. Any thoughts? I appreciate all help! [link] [comments]  |
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