Paid off final 18K - Thanks Bitcoin Student Loans |
- Paid off final 18K - Thanks Bitcoin
- Paid in Full
- I’ve paid off 15.5k in 3 years!
- Loan
- Is it possible for Sallie Mae to reverse a loan application that was canceled?
- Bankruptcy and Cancellation of Private Loans
- Graduating in May and beginning job in September, making a plan now
- I found an article that talks about the money a parent needs to save in order for them to afford to send their child to college...
- Aggregate student loan limits
- Anyone on here attending University of Phoenix? Or has attended in the past?
- Do they always give the full amount on Stafford loans?
- Need help finding someone to consult me on student loans (Retirement, ICR/IBR, and Parent Plus Loan)
- PSLF vs Tuition Reimbursement
- Loans defaulted seeking advice
- Quick Question
- Biden Student Loan Plan 5% IDR for undergrad loans only?
- Is there a way to find out the name of my collections agency in order to start rehabilitating my loans?
- I have enough in savings to pay off all of my student loans, should I just pay it all off?
- First time students, how long after you started your first class did you receive a financial aid refund?
- New to student loans and I need help.
- Private student loan being reduced?
- Perkins Loan
- Marriage, Taxes, and Income-based payments
- Student loans are past due for the first time
| Paid off final 18K - Thanks Bitcoin Posted: 05 Jan 2021 02:00 PM PST Invested about $2700 in crypto currency in 2017 and converted most of it to bitcoin after I took out my initial investment late in 2017. Ended up with about half a bitcoin after that, and always told myself if my investment eclipsed my Student Loan debt I'd pay it off. Well, that day was last week, and the payment went through. It feels so nice. Starting balance was $56K. [link] [comments]  |
| Posted: 05 Jan 2021 11:21 AM PST The silver-lining of 2020 was that I was able to slay the student loans. Received my "Paid in Full" letter today and it was a moment of exhale. Some background: In 2005, I was the first of my family to graduate high school and the first to attend a university. I was fortunate enough to receive a large portion of my costs in low-income grants. I ended up borrowing a total of $27,892.77 ($8,402.76 in subsidized loans, $19,490.01 in unsubsidized loans) during my 4 years while obtaining my bachelor's degree. I worked 25+ hours a week, on-campus all 4 years to supplement my living costs, lived as cheaply as I could. There were weeks I only had yogurt and crackers to get me through the day. I had no available assistance from my family. I graduated on-time in 2009, into the jaws of the recession, and took a difficult, low-paying food-service job because there was nothing else available to me at the time. I made 14k that year, and was put on the Income-based repayment plan. My payment was $10. With no mentorship, and no one to explain to me what compound interest was, my 22 year old self went blissfully unaware, struggling to scrape together my monthly payment + whatever else I could save. I started freelancing in the area of my degree, wrote articles for a local newspaper, anything I could for extra cash. The first time I received a letter stating that my payments were not paying off the accrued interest, and that my balance would continue to rise, I understood that the Income-based repayment plan they had me on, was digging me deeper and deeper into a financial hole. My life imploded in 2012, the year I turned 25. My long-term relationship failed, and led to me losing my partner, my job, my car, my apartment, and my dog. All in the span of a single week. I had no choice but to pack everything I could into 2 duffle bags and fly home to live on my single-mother's couch. I was homeless for the next year. I rotated on couches, floors, garages for the next year as I struggled to get a job, any job. Food service positions wouldn't hire me because I had a bachelor's degree. Jobs in my field wouldn't hire me because I didn't have enough relevant experience. I was sitting on a worthless degree as my pile of loans grew bigger in Forbearance. I was finally able to pick up a few piece meal jobs, but my housing was unstable, and I had to rely on public transportation. I spent 2 hours on a bus to get to the job that barely paid for the bus pass to take me home another two hours afterwards. My loans continued to climb. In 2014, 2 years after my breakup, I was fortunate enough to run across a job post for a start-up on craigslist, that sounded too good to be true. I decided I'd probably lose a kidney, but went to the interview anyway. It was informal, but the woman interviewing me was friendly and we vibed. I got the job, and shockingly enough, it wasn't a scam. For the first time in my life, at 27 years old, I had a job with fully-paid healthcare, a few days of PTO, and a salary of 40k a year. It was more money than I'd ever thought possible to make, and far beyond my single-mother's 12k a year working nights and weekends at Walmart and Taco Bell. I worked hard, harder than I ever had before, proving to myself and to the woman who hired me that I was worth it. I was finally able to get an apartment (with a roommate), to get off of food stamps, and by December 2016 I was finally in a place to start making meaningful payments to my loans. In 2009, I borrowed $27,892.77 - Made payments for 5 years, and was in forbearance for 2 more. By 2016, I owed $34,024.54. From 2016 to 2020 I finally put any extra I could into my loans, paid cash for my wedding (Sept. 2018), and grew my career. I kept a spreadsheet of every payment, how that payment was distributed to interest, and can look back on it to see that mountains are made from one pebble at a time. My income grew steadily from 40k to 90k, something I'm incredibly grateful for. It's done now, and I'm still making payments. But now, they're to myself. Each payment goes straight in to savings, I'm going to max out my 401k this year, and now, at 33, I can finally begin something that should have started twelve years ago. If you take anything away from this: Just keep going. It seems impossible at first, with barely a dent being made by the hundreds of dollars that are going 'somewhere'. But you'll get there. And the victory will be a quiet exhale of relief. [link] [comments]  |
| I’ve paid off 15.5k in 3 years! Posted: 05 Jan 2021 06:40 AM PST I've paid off 15.5k in 3 years! Started school in 2013, graduated in 2017. Loan balance was around 45.7k and started paying in November 2017 after I got my job in late September. I still have 30.2k left (all federal loans). Here's what I have currently: Great Lakes: 21,369 (4.24% average) Parent Plus (PPL): 1,440 (6.16%) Heartland: 7,449 (5%) I mostly focused on paying off the PPL loan. I originally took out 5,961 in 2013 but didn't realized that interest would accumulate until I saw the loan balance had ballooned to 7.7k when I graduated. Since then, any extra money, any windfall went towards PPL. I work for the government so I could had gone for PLSF but I decided not to because I'm on track to pay off all of my student loans within 5 years. I could had focused on paying off even more but I also wanted to live my life. I lived below my means by staying in, eating at home, and generally saving up what I can. My SO also has student loans but is on track to pay off in 5 years as well. I know it's not a complete pay off yet but I'm proud of my progress! [link] [comments]  |
| Posted: 06 Jan 2021 01:37 AM PST The maximum amount i could take annually as a federal student loan for law school is 25000 but most law schools fees are much higher and some law students say that they use federal loans for living expenses so how do they do it? And is there law schools that are less than 25000? [link] [comments]  |
| Is it possible for Sallie Mae to reverse a loan application that was canceled? Posted: 05 Jan 2021 11:12 PM PST So I plan on borrowing $2,000 from Sallie Mae(ugh I know) for my last semester. Originally it was $4,000 but I got a scholarship. I called and asked if they could lower it and the person on the phone said I had to cancel and reapply. I CANCELED It and reapplied and got REJECTED w/my previous cosigner. Is it possible for them to reverse the cancellation? I'm kinda freaking out. I have no other way to pay for this semester and it is due in 3-4 days. Has anyone went through this before. [link] [comments]  |
| Bankruptcy and Cancellation of Private Loans Posted: 05 Jan 2021 06:59 PM PST I filed chapter 13 and paid each month for 3 years. At the end, just before everything was discharged, one of my private student loans cancelled their debt. I received a 1099-C for it and filed it on my taxes without knowing if I needed to or not. Further research is pointing to that I could have excluded that debt but I am uncertain since it was a student loan. Any advice or where else to post this would be great. Thanks! [link] [comments]  |
| Graduating in May and beginning job in September, making a plan now Posted: 05 Jan 2021 11:18 AM PST Hi! I am a 22 year old graduating with my master's degree this May. I have secured a job in Boston with a salary of 80k with an anticipated bimonthly income of $2,300 (this number is after tax and insurance but it might be a little lower than that, it's a rough number), and a 10k signing bonus/relocation bonus (number is after tax). I begin September 7th, and that's also when I receive the bonus. That means I only get about two months of income before my grace period ends. Here is my student loan breakdown. I did not have any family assistance for finances all five years of college, with one of those years being in graduate school and my freshman year being classified as out of state. 18.5k in Discover Student Loans (undergraduate): (10.7k @ 5.215%) (7.9k @ 7.240%) Federal Loans: Direct loan subsidized: 14.5k Direct Grad PLUS: 3k Direct loan unsubsidized: 26,888 Total current federal balance: 44,389 Total loan balance: 62,889 I originally wanted to live alone for my first year, but I am now seeing that it would be best to cut rent costs by getting a few roommates. I want to absolutely shovel money at these loans. I am currently working to pay rent and a $50 monthly interest payment for the discover loans, but with an hourly wage of $14 it is difficult to make much savings. With all of this background - how should I tackle these loans? How much of a monthly payment should I be anticipating having to make? My parents filed for bankruptcy and have had horrible financial history, so I want to avoid following in their footsteps (even though I've racked up a lot of student loans). Any student loan or general financial advice would be greatly appreciated. Thank you for reading and your time! [link] [comments]  |
| Posted: 05 Jan 2021 12:08 PM PST They took the average college costs in each state as calculated by College Tuition Compare and determined the total cost of a 4-year college by state for both public and private not-for-profit institutions, accounting for both in-state and out-of-state tuition. Basically, you need to save 5% of your income every month for 18 years,which is insane. A lot of parents are not in the financial situation to do that. And what if you have more than one kid?? [link] [comments]  |
| Posted: 05 Jan 2021 08:53 PM PST Does the aggregate student loan limit include capitalized interest? I am not able to find a clear answer online. Thank you! [link] [comments]  |
| Anyone on here attending University of Phoenix? Or has attended in the past? Posted: 05 Jan 2021 12:37 PM PST How long after you got accepted and started your first classes did you receive your financial aid disbursements? And how much should I get back? My student account says I received the stafford loans and about $4000 from a pell grant. I'm just trying to get an idea of what to expect? Any help would be appreciated! [link] [comments]  |
| Do they always give the full amount on Stafford loans? Posted: 05 Jan 2021 07:50 PM PST |
| Need help finding someone to consult me on student loans (Retirement, ICR/IBR, and Parent Plus Loan) Posted: 05 Jan 2021 07:27 PM PST Hello friends, I recently came across a post that seems to show that many people are thinking similarly to myself. The post had to do with retiring on ICR, here is the link: https://www.reddit.com/r/StudentLoans/comments/kpmjae/retiring_while_on_icr/?utm_source=share&utm_medium=web2x&context=3 My father is 70 years old and retired. He gets about 24,000/yr from social security (20,000 is what he gets after his health insurance expenses are deducted from that). However, he has been day trading as a source of cash flow to supplement his social security for the last 5-6 years (not sure exactly how much he earns from this per year -- can find out more on this from him). My mother still works, and earns a salary below $50,000 as far as I am aware -- not sure if this will be a factor for my upcoming question. My father took out a parent plus loan for me, and I took out loans under my name as well. However, the parent plus loans amount to roughly $60,000. so my question: I am wondering if we can get on $0 monthly payment for ICR and ride out the parent plus loan until it is forgiven (20/25 years) or my father passes (hopefully he will outlive the loan, I fucking love my pops). I told my dad I will pay for the parent loan since he took it out to help ME. However, if we can find a way to avoid having to pay as much, even if it isn't $0 /month payments -- please provide some insight! thank you friends :) [link] [comments]  |
| Posted: 05 Jan 2021 07:15 PM PST Hey y'all, Currently on leave from Chipotle while I wait out the pandemic. Been thinking about how I'll finance my time at college and have to a crossroads. Currently Chipotle will reimburse its employees up to $5250 a year for college. Right now I'm making $10/hr which is a little less than a living wage for where I live. On the other hand I've been researching PSLF and saw that my local post office was hiring for $16/hr. With the situation I'm currently in I'm getting a tuition discount from my school making me only have to pay around $5000 a year, this is without any scholarships. So the question is, do I starve on an unlivable wage to keep me out of a loan? Or do I start my PSLF journey? Another thing to note is that I plan to apply for federal government jobs after I graduate or volunteer/work for Americore. Thanks! [link] [comments]  |
| Loans defaulted seeking advice Posted: 05 Jan 2021 07:08 PM PST Hello! I have 28k in student debt that just went into default. I am afraid it will hurt my credit. I am reading everything I can but am not sure what is helpful or not. I am looking for my next steps. Thank you. [link] [comments]  |
| Posted: 05 Jan 2021 07:02 PM PST So I have CRAZY high student loan debt (I'd rather not get into the number because it sucks BUT I have a solid plan and a solid income that'll go into effect in the next 1-2 years). MOST of it is private loans which... again... I know. BUT it's okay! In the next three months, I've looked at my finances and will be able to put down about ~$6,550. Should I pay off one of my smaller loans or throw the money towards my highest interest loans? [link] [comments]  |
| Biden Student Loan Plan 5% IDR for undergrad loans only? Posted: 05 Jan 2021 06:34 PM PST Hi all, I'm trying to figure out Biden's student loan plan proposal, and came across this NerdWallet article (See below). It states that borrowers would pay 5% of any income above $25,000, but that this option would only be for undergraduate borrowers. This is the only article I've seen that states that graduate borrowers would not qualify, the rest do not make the distinction. Anybody know more about this proposal? Thanks! :) https://www.nerdwallet.com/article/loans/student-loans/joe-biden-student-loans [link] [comments]  |
| Posted: 05 Jan 2021 02:44 PM PST I want to start the process of rehabilitating my student loans only I do not know the name of the collections agency the department of education turned over my account to. Is there a way of finding this information out? [link] [comments]  |
| I have enough in savings to pay off all of my student loans, should I just pay it all off? Posted: 05 Jan 2021 06:26 PM PST Hi there and thank you for reading, I graduated dec 2018, started working full time summer 2019. My current student loans (all Stafford gov loans) fall just above $25,000. I've started to pay off my loans aggressively (I try to put in at least $1,500 a month) but I technically could pay it all off now. I currently have $40,000 in a high yield savings account and around $7,000 worth of bitcoin. I'm still employed with a gross salary of $112,000 a year. What would you do if you were in my shoes? I'd like to put my loans behind me. My boyfriend who didn't go to college gets to put all of his savings in assets and investments and I just want to be there too. [link] [comments]  |
| Posted: 05 Jan 2021 06:15 PM PST |
| New to student loans and I need help. Posted: 05 Jan 2021 05:51 PM PST I'm currently a junior at UCR and I'm running out of cash to pay for tuition. After weighing my options I've decided that its best for me to take out a student loan. I'd prefer to not have to pay anything till I graduate but if I do have to pay some amount during college I'd like to keep the cost low. My question for you guys is, what's the best student loan option out there and what about a federal student loan? Like I said I'm new to student loans and need help for where to start. If you need some more information from me post in the comments and I'll respond. [link] [comments]  |
| Private student loan being reduced? Posted: 05 Jan 2021 05:21 PM PST I applied for a student loan in November to pay for the fall semester. It was approved by financial aid office and never applied to the balance. I've been in an email war with the school now since November. I email a question and they take a week to respond, always saying they need more information and never answering my questions. There is no way to go in and they disconnected the phones due to COVID. We are in January now and I havent been able to register for classes due to the balance. The school was supposed to take the necessary funds and disburse the remaining funds to me on 1/6/20. I get an update today 1/5/20 at 4:30pm that the school has manually reduced the amount of my loan and still hasn't applied it to the balance. I called the loan holder and they said the school has never reached out to them to reduce the amount, there are no notes to indicate why. Is there a reason they would reduce the loan with literally less than 24 hours notice and not tell the loan holder? [link] [comments]  |
| Posted: 05 Jan 2021 03:58 PM PST I'm not sure exactly what I'm asking for, maybe advice. I transferred from Rutgers to Rowan (my current School) in 2018. After I transferred, Rutgers is trying to charge me $80 for wall damage because it costs 80 dollars to repaint a wall. Now I'm receiving a bill for that plus my Perkins loan with interest because Rutgers told the company they sent my loan to, that I stopped being a student in Jan. of 2020. I'm not sure why, I'm planning on calling them tomorrow to see why they lied. I had previously emailed Rutgers beforehand asking for proof of my wall damage. At first, they sent me the wrong wall and the second image was a different wall color from the room I stayed at. And they're trying to pin it on me because I said I had some tape on the wall but never left any serious damage like holes. So that $80 went to repainting the whole room, I guess. Which I guess is why it's a different color. And told me I should just speak to the collection company. But now the collection company is telling me to speak to Rutgers about the charges. So, I'm running around in circles. Is there a way to dispute the interest charge and the wall damage charge? [link] [comments]  |
| Marriage, Taxes, and Income-based payments Posted: 05 Jan 2021 03:26 PM PST Hey all, thanks for your help. I'm on an income-based plan and need to recertify before the pandemic deference ends. I made a lot less money this year bc of pandemic/new career, and Nelnet's calculator is telling me that if I'm married filing separately, my payment would be $10 a month, whereas if I'm married filing jointly, my payment would be $440 a month. That's a wild difference! Does anyone have any experience with this? It seems like we'll probably pay $1 or $2k more in taxes if we file taxes separately, so I'm just curious if this seems like a wise route. [link] [comments]  |
| Student loans are past due for the first time Posted: 05 Jan 2021 04:01 AM PST I was enrolled in autopayments and I guess Navient decided to randomly take me off of autopayments. I will be calling later today once the office opens to fix this issue. I'm more worried about my credit score dropping. Is there someone I need to call to make sure this doesn't show up on my credit score? Also is there an allotted time I need to wait to see if Navient will take off the past due on my credit report. I use autopayment so I don't miss any payments and never have had an issue for a year. Update: Called Navient and there was some systematic issue where the payment hasn't been processed yet, but they will make sure it gets processed as an on time payment. Also according to the customer service representative, they don't report late payments to your credit score until it's been 90 days past due. [link] [comments]  |
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