Biden’s Education Secretary Pick Says Student Debt Relief will be “a priority” Student Loans |
- Biden’s Education Secretary Pick Says Student Debt Relief will be “a priority”
- Just paid off my Sallie Mae loans!
- The psychology of a lump sum payment after forbearance ends
- IBR Recertification?
- The CFPB is doing a study on families that take out student loans on behalf of their children or other relatives - want to help?
- Some questions regarding FAFSA and student loan application
- Dashboard is stating my next payment will be 3/2/2021...?
- What to do with annual bonus?
- Who can claim the educational tax credits?
- Owe $22,000 in student loans and I need help with budgeting
- Unsubsidized Stafford Direct Loans Great Lakes
- GC Services?
- Great lake loans
- MOHELA loan status says forbearance ends Jan 31st 2021?
- Should I refund payments made to federal loan to pay my nursing loan?
- Can I refinance my private student loans using my household income without having my husband co-sign?
- Trade school loan?
- Large discrepancy between SoFi via Credible and directly at SoFi
| Biden’s Education Secretary Pick Says Student Debt Relief will be “a priority” Posted: 26 Jan 2021 09:53 PM PST Just stumbled across this story: https://www.cbsnews.com/news/student-loans-miguel-cardona-education-department-priority/ [link] [comments]  |
| Just paid off my Sallie Mae loans! Posted: 26 Jan 2021 07:31 AM PST $13,700 of private loans gone. Just paid the last bit off this morning. Thought I'd share that here. [link] [comments]  |
| The psychology of a lump sum payment after forbearance ends Posted: 26 Jan 2021 11:17 AM PST Like many, I have tucked away much of what I would've paid toward my student loans in a HYSA waiting for the day forbearance ends to make a lump sum payment. As we approach the 1 year mark of interest forbearance, I've noticed the amount I have tucked away has grown substantially. Since I'll continue to put in what I would've paid to my student loans, by the end of the forbearance, that will likely grow another 50% A few thoughts: 1. As it grows, I wonder if it will be difficult to transfer that large sum all at once. One day I'll have 5 figures sitting in a HYSA, and the next day it's gone. Of course, I know my net worth will stay the same, but I'm reducing my liquidity/flexibility and I've never paid that amount of money for any purchase (down payment on home, paid for car outright, engagement ring, etc.).
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| Posted: 26 Jan 2021 03:46 PM PST I'm traditionally due to recertify my IBR plan around now. MOHELA just told me I can wait until Oct, or I could go ahead and recertify now. Any compelling reason to do it now or to wait? [link] [comments]  |
| Posted: 26 Jan 2021 10:15 AM PST Hi friends - I was asked by the CFPB to post the below request. For what it's worth, I also assisted with this project a few months ago. Your experience will help them further understand the student loan debt issue and how it affects families as well as help them to make recommendations to ensure better information is provided to families in the future. "Abt Associates and the Consumer Financial Protection Bureau (CFPB) want to hear from parents and relatives who have taken out loans to pay for a family member's college education or are thinking about doing so! We will ask participants about: • Factors influencing whether and how to contribute to their student's education • Information sources they used to learn about and evaluate college contribution options • Information they wish they had known before contributing • The impact of college contributions on family finances, relationships, future plans, and quality of life These interviews and listening sessions will help CFPB develop an educational tool to inform family members of their options for financially supporting students. Participants will receive a gift card ($75 for an interview and $25 for a listening session) to thank them for their time and insights. If you are interested in participating, you can sign up by clicking here. https://survey.alchemer.com/s3/6139119/Family-College-Borrower-Survey Call 888-839-8521 or email FamilyCollege@abtassoc.com for more information. [link] [comments]  |
| Some questions regarding FAFSA and student loan application Posted: 26 Jan 2021 03:51 PM PST I'm 26, been through the FAFSA and student loan application process once before, but that was ten years ago- I'm a little lost now. My questions:
-If YES, that is true: So I must pay my excess financial burden beyond what I am granted by FAFSA, prior to the semester beginning? Prior to the school year beginning? (I know this varies by school, so for specificity I am looking at online undergrad with SNHU. They have 8 collective terms, I would be attending 5/8 of those terms with various start dates throughout the year. If anyone has insight to payment due dates, that would be great.) -If NO: So I CAN elect to apply for a federal loan through FAFSA for any excess financial burden beyond what I am granted by the government? How often must I reapply for these loans? Annually? Per semester? (I ask because again, I will be attending SNHU, with as many as 5 potential re-applications if this really must be completed per semester.)
-Grants are awarded by the government, such as Pell Grants, do not require repayment and are awarded solely to those who display exceptional financial need. Therefore, applying now, with my 2019 income of $65,000 would disqualify me from receiving a Pell Grant, due to its financial threshold of $50,000 and under, regardless of my current income. -Student loans were once offered by the government, but now are not? Therefore, if I am not awarded a personally sufficient amount of grant money by applying via FAFSA, my only other options are to pay the excess amount by the given university due date, or I must seek out a private loan via bank or other financial instituion? What happened to Stafford Loans? Unsubsidized and subsidized loans? Thank you so much in advance :) [link] [comments]  |
| Dashboard is stating my next payment will be 3/2/2021...? Posted: 26 Jan 2021 06:51 PM PST Why is this? Didn't Biden just extend the freeze on student loan repayments and interest until September? [link] [comments]  |
| Posted: 26 Jan 2021 03:08 PM PST Hi Everyone, I am receiving my 2020 bonus and am having trouble deciding what to do with the money as it pertains to paying off loans. with loan interest frozen through Sep 2021 should I invest the money or keep it in a savings account until the freeze is lifted? For what it's worth I have 4 federal loans with interest rates from 5.75% to 7.45% totaling around $165k. My bonus is expected to be in the $11 to $15k net. Any advice welcome from this wonderful community. [link] [comments]  |
| Who can claim the educational tax credits? Posted: 26 Jan 2021 03:02 PM PST I am claimed as dependent on my parent's tax return. But the educational credit tax says that student loans count, and the student loans are listed in my name, so my parents don't pay for college But I looked at this: https://www.irs.gov/pub/irs-pdf/f8863.pdf And it seems to suggest that someone one has to claim the student or is there a different version? I received the 1098-T in the mail, and it said that form 8863 had to be completed. [link] [comments]  |
| Owe $22,000 in student loans and I need help with budgeting Posted: 26 Jan 2021 03:43 AM PST Hi everyone, I wanted to ask for help with budgeting to pay off these loans that have been on my back for years. I'm finally starting to take getting this out of the way seriously after having a very financially irresponsible decade. Here are my challenges: I will be moving to an apartment soon that will cost approximately $2,000 a month. My expenses monthly are about $800 to $1,000. That includes utilities like electricity, internet, dropping off laundry and groceries. I recently landed a new job that will have be pulling in about $5,300 a month after taxes. I needlessly stress over this, as I'm not very good at budgeting, I feel like we are still spending money on needless things off Amazon and also ordering take out pretty often. I'm not used to a high rent so I need help. How do I make sure to set enough money aside for rent each paycheck, set aside enough to cover expenses, for the loans as well as for an emergency fund? It feels like a lot! If I set aside $1,000 each paycheck, I have about $1600, that means I need to split this amount to cover expenses, my loans and put it towards an emergency fund. I usually pay the hard hitting bills on the 15th, like utilities. Maybe I can pay $500 worth of loans each paycheck, that means I'm paying off $1,000 a month, and in about two years I could have them paid off. I feel like I'm trying to do this in a clumsy manner and I feel like there is a better way. Please help! [link] [comments]  |
| Unsubsidized Stafford Direct Loans Great Lakes Posted: 26 Jan 2021 01:29 PM PST How would I know if this loan is affected by the Biden administration? Would i have to check on either Great lakes or the student aid site? [link] [comments]  |
| Posted: 26 Jan 2021 08:25 AM PST I have student loans with Navient. I had an inquiry about my loans and they transferred me to GC Services. They offered me a settlement that substantially decreased the amount I owe. I am concerned; is this a legit company? Any advice would be appreciated. [link] [comments]  |
| Posted: 26 Jan 2021 12:04 PM PST Thank you in advance for your input. I have about 77k in student debt all are from Great lake loans. half of the loans are Subsidized. I have lost my Subsidy Status in 2017. now that loans are 0% interest till the end of September. what is the ideal payment I should be making now. I was thinking of the 700-900 monthly range starting this month. Thank you [link] [comments]  |
| MOHELA loan status says forbearance ends Jan 31st 2021? Posted: 26 Jan 2021 05:34 AM PST On mohela it says that my loans are in forbearance until January 31st. I thought it was being pushed back to September 30th? Is there a reason why my forbearance isn't extended? I have 2 direct consolidated loans (one subsidized one unsubsidized) [link] [comments]  |
| Should I refund payments made to federal loan to pay my nursing loan? Posted: 26 Jan 2021 04:47 AM PST Hi all I'm seeking for some advice. I graduated in May 2020. I have $11,000 in federal subsidized loans (variable interest 3.5-5.5%) through EdFinancial and $8,000 in nursing loans (flat 5%) through Heartland ECSI. The federal loans are in forbearance until Sep 30, 2021 so I don't have to worry about interest rates or making payments yet. My nursing loans however are I guess federally subsidized lent to me by my school instead of the government similar to a Perkins loan. So my nursing loans start accruing interest and go into repayment in April 2021 (minimum $85 per month). (Also I know that Heartland ECSI sucks and charges for every payment you make that isn't an auto payment and I don't want to give them extra money than I have to so I was going to save up and make a big lump sum payment in April.) I have put $4000 towards my federal loans with EdFinancial because those were initially going into repayment/start accruing interest first but given the new extension, should I refund that money and put it towards my nursing loan instead? Does anyone have experience asking for the refund from EdFinancial, and if so, how long did it take you to get your money back? Or should I leave the money where it is? I would really appreciate any and all advice! [link] [comments]  |
| Posted: 26 Jan 2021 06:19 AM PST Pretty much the title... I don't want him to co-sign but we use his salary (it's 4x mine) to pay off my loans. Thank you! [link] [comments]  |
| Posted: 26 Jan 2021 03:15 AM PST I'm trying to go to a school to become a professional dog trainer. Tuition and supplies will cost about $25k and with living expenses it will cost $35k. The school doesn't qualify for student loans and doesn't offer any sort of financial aid. I was wondering if anyone knows of any grants or anything like that that I could apply for to help pay for it. I looked at a personal loan but the interest is super high and the monthly payments would be $750 which I cannot afford. [link] [comments]  |
| Large discrepancy between SoFi via Credible and directly at SoFi Posted: 25 Jan 2021 09:07 PM PST Hi - I'm looking to refinance my student loans with the stats below, but I'm confused why I'm seeing such a large discrepancy between SoFi via Credible, and directly at SoFi. Principal: $45,960 (split b/w PenFed and Perkins) Credit score: 768 SoFi via Credible: 2.85% variable interest for 5 years Directly at SoFi: 4.28% variable interest for 5 years Same inputs, same amounts, such a large difference. Does anybody have any idea what might be happening here? At SoFi I'm able to get a 2.55% variable rate for 5 years if I bump the total loan amount up to around $58,000... Which I could do, but that would mean I'd need to include part of my federal loans which are sitting pretty at 0% right now, so I'd like to avoid [link] [comments]  |
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