Anyone else put their stimulus check straight into their student loans? Student Loans |
- Anyone else put their stimulus check straight into their student loans?
- High interest rates, do they actually make sense in America?
- denied GRAD PLUS loan due to bankruptcy filed three years ago
- How can I pay off my loans while still in college?
- Just received large student refund NOT from a loan?
- (technically) debt free!
- Help! Does anyone know a bank that can refinance student loans for US citizens that live abroad?
- Educate me on private student loan pls help.
- Can Someone Explain the Advance Due Date Thing?
- Paid off my student loans in a fairly short period of time.
- Help me understand why FAFSA granted me so little.
- Best way to deal with my international 85k loan?
- Should I pay off student loans?
- Covering living expenses while schooling full time - competitive ABSN program.
- Navient Late Payment Advice!
- IDR question? FedLoan couldn’t help me
- My wife’s mother owns my wife’s student loan. Are we responsible if something happened to her? Or if she neglected paying them?
- Federal student loan grace period after COVID-19 loan forbearance period ends?
- Do you lose your 6 month grace period when taking a gap year during college?
- Private Student Loan..cosigner died
- How to manage student debt properly
- How do you get a student loan for studying outside the USA?
| Anyone else put their stimulus check straight into their student loans? Posted: 06 Jan 2021 06:04 AM PST So, I am one of the very few (only 11% of borrowers) who has continued to make student loan payments despite the CARES Act freezing my loans. I've made a pretty big dent this past year, I have to say. So, when I got my incredibly sad little $600 stimulus check, I just put it straight into my student loans. Is anyone else doing this or are you fairly certain President-Elect Biden is gonna erase student debt? [link] [comments]  |
| High interest rates, do they actually make sense in America? Posted: 06 Jan 2021 08:27 PM PST So, I'm usually seeing federal student loans at like 6%-7% interest rates. I'm not a very financially savvy person in general, but I have heard those are considered fairly high interest rates. What I want to know is is there really any good reason for these high interest rates? Like in all honesty it just seems so unethical to put interest rates like that on such huge loans for 18-year-old kids who have very little understanding of what they're signing up for. Like just how much are they profiting off a whole generation of students who were already grossly overcharged for their education? [link] [comments]  |
| denied GRAD PLUS loan due to bankruptcy filed three years ago Posted: 06 Jan 2021 06:09 PM PST After being denied a GRAD PLUS student loan due to bankruptcy filed three years ago, my bankruptcy lawyer let me know that there is a law that prohibits federal bodies from discriminating against denying loans based on bankruptcy. I was told that I had two options. As I have decent credit and I have neither parent interested in helping as endorser I have question around the first item under option two, in italics below. 1. Obtain an endorser and complete PLUS Credit Counseling.
2. Document to the satisfaction of the U.S. Department of Education that:
Does anyone have experience with this? what does this mean? What would your next steps be? [link] [comments]  |
| How can I pay off my loans while still in college? Posted: 06 Jan 2021 08:08 PM PST Hello, So I have federal loans (both subsidized and unsubsidized) and I want to have them all paid off before I graduate. I was never really taught anything about loans and I'm having a bit trouble finding information about it online. Are we even allowed to pay them while still in school? If so, can someone tell me how to go about it? I know my loan servicer and everything and I made an account on there, but I'm just not really sure how I would go about starting to pay it, it doesn't really give me an option. I'm sorry if this is a dumb question I just don't know much about loans and I don't have anyone around me to educate me about it. [link] [comments]  |
| Just received large student refund NOT from a loan? Posted: 07 Jan 2021 01:43 AM PST I have not had to take out any loans for uni because my tuition has been covered by a combination of scholarships and federal pell grant. I just received an email stating a deposit of 4k was being put into my bank account as a student A/R refund. I did not accept any loans this semester & my aid has already been dispersed, so there is no balance on my account. Is this now my own money that I will not have to pay back? [link] [comments]  |
| Posted: 06 Jan 2021 06:01 AM PST Just made the last payment to Nelnet for the sub/unsub loans in my name. I graduated undergrad in 2016 and finished a (funded) graduate program in 2018. I started working a month later making 65k not including bonuses. The total for this bunch started at ~23k. I started paying immediately when I started work and picked up a side gig doing SAT tutoring. Now I've got ~65k of parent plus loans left, but this is helping create momentum for sure! [link] [comments]  |
| Help! Does anyone know a bank that can refinance student loans for US citizens that live abroad? Posted: 06 Jan 2021 10:18 PM PST Im a US citizen based in Singapore and am finding that I can't refinance my federal student loans since the US banks won't recognize my non-US based income. Does anyone have a solution to this, such as a lender they have used that can use tax returns to verify foreign income, for example? [link] [comments]  |
| Educate me on private student loan pls help. Posted: 06 Jan 2021 05:08 PM PST Hi, I'm a 17 y.o. student from Indonesia, I am planning to study abroad to canada. I have already received an acceptance letter from one of the colleges/univs that I applied to. I know basically nothing on getting a student loan. These are the few questions I have about student loans:
Thank you in advance [link] [comments]  |
| Can Someone Explain the Advance Due Date Thing? Posted: 06 Jan 2021 04:22 PM PST I'm working on snowballing my student loans. I pay a little extra every month, and I just took on a side gig substitute teaching so I'm hoping to add a bunch more. I've always checked the advance due date thing because I like having a little grace period should I ever need it. That said, I've been reading about it online and some sites say doing that is a bad thing. Why? Does it not apply my payment until the next month or whatever? For reference, I don't have a large amount of interest, just whatever accrues that month, and some of the money is going toward principal (about 3/5 of my monthly payment goes to principal, and I'm assuming anything I pay over that goes to principal). Because of the deferment and not knowing what Biden is going to do, I haven't actually applied any money to my loans since March. I've been tucking away payments in my savings account with the intent to dump it all in right before the deferral ends. I finally have enough to pay off one of the loans completely, but I want to make sure that when I apply the payment, it pays the whole thing and closes that loan, rather than my money sitting there with only a little bit being applied each month. So...does anyone know how this actually works? EDIT: I read something (don't know if it's true or not) that even if you pay off one of your loans, your monthly loan payment doesn't go down. They still charge you the same amount, just the amount of that payment gets spread over the other loans. If this is true, wouldn't I want to click advance due date so my monthly payment will go down for a significant amount of time? [link] [comments]  |
| Paid off my student loans in a fairly short period of time. Posted: 06 Jan 2021 05:04 AM PST Master's in Music. Moved in with my parents. Found a job nearly immediately after graduation by complete stroke of luck (it is shift work, it's tough but pays well. I understand that I could have easily been in a much worse situation) and paid off $65K. I was really stingy with my money and I drive a 30 year old car. The stimulus and the interest payments being nixed was really helpful. The Army's Student Loan Repayment already paid $10K on my other account and still needs to pay off another $10K. I'm not staying after my contract is up. My next steps are to get a better job with a stable schedule, move in with my girlfriend and get better at my instrument. Also, student loans are wrong, no one should have to take them out in the first place. Surely there must be no downsides to a populace that is too afraid to study something that will cripple financially them potentially for the rest of their life. [link] [comments]  |
| Help me understand why FAFSA granted me so little. Posted: 06 Jan 2021 12:15 PM PST Hello! I am about to make a big step regarding student loans. I am entering an accelerated nursing program that will cost me 37k per year for three years. I completely understand that this a huge amount of money. I have 30k in my savings account that I know will go towards this. I have never previously received any money for school so I spent a long time saving money for just this. Two jobs for over two years, all the way through the pandemic too. I had a meeting with my financial aid office today and I was shocked to see that FAFSA was only granting me $348 per year. I am by no means not grateful for any amount, however I know others who are more well off than I who get big checks. I am confused. Here is the run down: What went wrong? Did I fill out something incorrectly or am I to believe this is a true and fair cost? [link] [comments]  |
| Best way to deal with my international 85k loan? Posted: 06 Jan 2021 10:36 AM PST I did my study in a foreign country on their scholarship and returned to the U.S after graduation without fulfilling my contract of working for them. Because I broke my contract, I have a 85k loan to pay them back in installments. Here is the breakthrough: The installments are in every 6 months. 1st installment to 6th installment: about USD2500 each 7th installment to 10th installment: about USD4000 each 10th installment to 15th installment: about USD7000 each And the number goes on. The Liquidity Damage (dunno if it's the right term, they call it that) is capped at 15 years with increment in installment as above. Right now my plan is to pay all the USD2500 installment in 3 years with my part time job. After that I would hopefully pay them a lump sum of 20k (Im in school atm, will get a decent job by then) and request to keep the USD2500 for a the next few years before I can gather another lump sum to pay them. Is this a feasible route? If not, is there a better way to tackle this? Another thing that bugs me is I have to pay them in their currency. So I would have less value in their currency than in US dollars. And there's an exchange fee that I have to pay the bank each time since they're overseas. When I did my 1st international wire transfer to them, US bank charged me $50 for the fee and I have to cover the fee on the receicipent side as well so I paid $100 more WTH. Any way to reduce this fee? Thank you! [link] [comments]  |
| Should I pay off student loans? Posted: 06 Jan 2021 03:33 PM PST I have two lines of debt:
My goal is to apply for a credit card. Current credit score is 631. Could not get approved for credit card. Could not even get approved for secured credit card. How should I go about increasing my credit score? Should I pay off the student or car loan or both? I'm co-signed for the car a family member. Is it possible to take my name off? Will that look bad? [link] [comments]  |
| Covering living expenses while schooling full time - competitive ABSN program. Posted: 06 Jan 2021 11:27 AM PST A friend (35 F) is a single mom, a homeowner, has good credit (700+) and is currently working as a CMA. She has worked really hard to get to this point but now needs to cover approximately $20,000 in living expenses for the next year (less if she can work part time, but doesn't yet know how demanding the program will be or if she can even find a position flexible enough to work around the schooling). She's done the FAFSA stuff and should have tuition/expenses covered with that. Are private student loans the next step? Can she borrow enough to not need to worry about trying to earn a living on top of a rigorous ABSN program? Will she need a cosigner? Becoming a nurse would nearly double her income and she could then (in theory) repay any loans more quickly. Any and all advice would be greatly appreciated! [link] [comments]  |
| Posted: 06 Jan 2021 09:12 AM PST Hi everyone, Happy New Year! I am a young professional, who used the pandemic as a time to get my finances, and overall financial status together and have saved enough money to buy a house with my soon to be wife. Like many, I'm sure, who went to college and took out loans, I have late payments with Navient, that are CRUSHING my credit. The, in my opinion, unnecessary thousands of dollars paid towards bad rates, and the less likely hood of qualifying for a loan that comes out as a result of this is frustrating, and renting doesn't seem like a viable option. If anyone has any tips, goodwill letter successes, and or any overall advice they could provide it would be greatly appreciated! [link] [comments]  |
| IDR question? FedLoan couldn’t help me Posted: 06 Jan 2021 02:52 PM PST So my loans were transferred from Cornerstone to FedLoan last month (unknown to me at the time). During this "transition time" I applied for income driven repayment. Cornerstone notified me that my application was received, but by then my account had already transferred to FedLoan. I'm going into repayment soon so I called FedLoan to check on the status of my IDR app. They phone rep didn't know. So I logged into my Student Aid account and saw this on the IDR app page (https://ibb.co/BjxY8G0). Does this mean I was approved? Apologies for the question, as this is my first post. Thanks! [link] [comments]  |
| Posted: 06 Jan 2021 02:47 PM PST I always knew the total of my wife's student loan debt, but I did not know her mother has one of the loans under her name (the mother). I have offered to take on that debt so I can refinance everything together under our name, but she refused. My wife is sure that the loan is only in her mothers name and not hers (I didn't know that was possible). Down the road when my wife's parents pass, what happens to those loans? Will they come to us for repayment? Will it come out of the estate? I have no idea where to start researching this, so I appreciate any help I can get. EDIT: it's called a parent-plus loan I've just learned. Through Naviant (Federal). [link] [comments]  |
| Federal student loan grace period after COVID-19 loan forbearance period ends? Posted: 06 Jan 2021 05:22 AM PST I feel pretty stupid asking this question, but hopefully someone can help me! I graduated in June 2020 and have federal student loans through MOHELA. A friend told me a while ago that after the Covid-19 loan forbearance period ends on January 31st, I would still have a 6-month grace period before I had to start repayment on my federal loans. Now I'm not so sure my friend was correct, and my question is this: Do I still have a 6-month grace period after the administrative forbearance period ends on January 31, or did the 6-month grace period overlap with the Covid-19 forbearance period and I will have to start making payments in February? I've been checking my online MOHELA account and I haven't received any notifications or emails that I have an upcoming payment in February yet, just information about forbearance due to Covid-19 ending on January 31, 2021. I'm sorry if this question is a no-brainer, but I'm worried and haven't been able to find an answer online yet. Thank you in advance!! [link] [comments]  |
| Do you lose your 6 month grace period when taking a gap year during college? Posted: 06 Jan 2021 02:04 PM PST I took a gap semester last fall and planned on coming back in the spring so as not to lose my 6 month grace period on my loans. Covid is worse and with how my classes are laid out I'll need to take a gap semester again either next fall or spring in order to avoid wasting money on filler classes for a semester. (I've finished enough of my prereqs I'll have none left to take after fall and I cant apply into my major until the end of the spring semester) Would I lose my grace period by continuing into a gap year this spring? [link] [comments]  |
| Private Student Loan..cosigner died Posted: 06 Jan 2021 07:25 AM PST My nana cosigned a private student loan for me for grad school. It originated through Chase and is now serviced by AES. The original amount was $20000. I have paid back $25000 still owe $33000 🙄🙄. My nana passed unexpectedly Christmas Eve due to COVID. I read online this can automatically default my loan, however most lenders are not doing this practice anymore. I have made every payment the past 10 years..never late..never missed one. I plan on reaching out to AES once I get her death certificate. Does anyone have experience with this? [link] [comments]  |
| How to manage student debt properly Posted: 06 Jan 2021 10:19 AM PST Greetings and thank you for the opportunity to post here I am writing to ask about managing student expenses with student loans, particularly with unsecured student loans to supplement existing Grant's and loans In California The cost for each semester after Grant's and aid whittle the cost goes to around 4500 dollars a semester. Up until transfer I was very cautious about using any loan money for anything other than N school expenses. Now that I have, I am starting to see the need to utilize student loans to insure that I will not dip into personal lines of cash. I has wanted to ask about unsecured loans, and how much I should utilize them for tuition, given that the future tuition ost to me after all deductions will regularly be about 4 to 5 k a term, and that the is no way I can pay them in my own. It seems like a self answering question, but because I have no experience ever, I wish to ask [link] [comments]  |
| How do you get a student loan for studying outside the USA? Posted: 06 Jan 2021 09:33 AM PST When I go to Sallie Mae, Chase, FAFSA or whatever, their application asks for me to enter my school, but it's only schools in the US and I can't finish the application. Is there a way to get a loan so I can go study in a European school? [link] [comments]  |
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