Stop Student Debt Relief Scams Act Signed into law Student Loans |
- Stop Student Debt Relief Scams Act Signed into law
- One loan down!
- Looking at my student loans debt progress in 2020...
- Heartland ESCI - One Time Payment Issue
- I start class January 12. My school account shows that my pell grant went through but just says "to be determined" under my stafford loans. How long does it take for these to be processed?
- Help! Am unemployed student and need to take out a $400 personal loan (with limited credit history) what are my safest options?
- Just checked out my federal loans for the first time in a while: after 20 months of making the minimum payment, total principal paid: $9.66.
- Student loan with bankruptcy
- Dumb question - If I refinance my 11 Sallie Mae private student loans with a third party, will it just be a single loan with a single monthly payment?
- Repayment bank account on Parent Plus loans
- Question Regarding Parent Plus Loans & Standard Payment Plans
- Can you get federal student loans and military tuition assistance?
- When updating family size for IDR do you have to submit most recent tax return?
- Should I use undergrad loans to pay for grad school?
- Grandpa died so I can now payoff my loans, no idea how to though.
- Pay off interest across loans or pay off one loan?
- UAS & Federal Perkins Loan Exit Interview
- 30 and looking for advice
- student loan scam
- Taking the semester off (receiving conflicting information)
- Parents still unhappy about my decision to not go for MS in US.
- Does anyone know if having money ($500+) in Robinhood make it harder to get money approved?
- Start paying now or wait?
- take out a loan for community college?
| Stop Student Debt Relief Scams Act Signed into law Posted: 04 Jan 2021 03:01 PM PST Right before Christmas the Stop Student Debt Relief Scams Act, was signed into law. "The bill aims to enhance law enforcement and administrative abilities to identify and shut down third-party student loan debt relief scams." The legislation will:
This is a good reminder that if someone asks you for your FSA pin then it's very likely they are running a scam. Now it's clearly illegal but even before this no legit organization would ever ever ask you for your PIN or student loan account credentials. [link] [comments]  |
| Posted: 04 Jan 2021 07:52 AM PST Granted it was a small one, <$1,000 and have others to go, but it feels good getting one off my back. It's like I'm finally making some headway! [link] [comments]  |
| Looking at my student loans debt progress in 2020... Posted: 04 Jan 2021 03:21 PM PST https://imgur.com/gallery/ithOnuB It's a new and hopefully better year, so I decided to try and motivate myself by comparing last year to now!!! I didn't get serious and start keeping track of my loan repayment progress until last summer unfortunately, when I started using apps like Mint and sites like unbury.me My loan total in July 2020: -$88.7K The worst/biggest one I have is a private loan as well, 6% interest rate Jan 2021: -$82.7K Today I actually paid off one of my smaller student loans (5% interest rate, started at $4000)! Still poor, but at least I'm less in debt now than I was last year ? Other improvement I saw: The interest rate could be lowered on my biggest loan from 6% to 3.4% by refinancing it, thankfully. I am very very grateful for Covid related forbearance on the federal loans for letting me hit my 5% loan and wipe it out on my birthday! [link] [comments]  |
| Heartland ESCI - One Time Payment Issue Posted: 04 Jan 2021 04:27 PM PST Hey all, so I have my Perkins loan through Heartland, and I want to get it knocked out asap. I've been paying on autopay every month, and when I get a lump sum that I'm willing to throw at it, I do. The issue that I ran into however, is that at the beginning of December, my autopay went through, and a couple days later, I sent a good chunk towards it to apply asap. On the Heartland website and mobile app, it shows that the payment was applied and deducted from my loan amount (yay!) but it's been almost an entire month now and the money has yet to withdraw from my bank account? January's autopay already went through and withdrew no problem. I'm not against it... but I don't want to accidentally use that money for something else if it magically decides to withdraw sometime down the road. [link] [comments]  |
| Posted: 05 Jan 2021 12:50 AM PST |
| Posted: 04 Jan 2021 11:18 PM PST Hi, I'm a full time student about to graduate and enter a field where looks matter quite a bit. I need to take out a small personal loan for cosmetic procedure. Not being self depreciating here, but I am conventionally unattractive. Being an unattractive young woman has not done me any favors (especially when it comes to opportunities) and id feel a lot more confident graduating during this time of great uncertainty with my nose fixed (my most jarring feature). Thankfully, my procedure will only cost $800, I have enough in my savings but if I used all my savings I'd have around $300 left. I'm confident I will be able to pay this loan off, I only want to take out about $300-$400 (use my savings for the rest). Being unemployed and having limited credit history makes it impossible for me to get a loan from my bank, companies like care credit require you have employment as well. Are there any safe creditors I can take out personal loans from? I've been told horrible things about a lot of loan companies that take advantage of unemployed people/people with low credit scores with high APRs and a fee for every $100 borrowed. Is there anything I can do? Or am I screwed? [link] [comments]  |
| Posted: 04 Jan 2021 12:04 PM PST Interest paid: $1352.34. I know that a lot of folks here understand how loan terms work, but for those that don't.. this is what happens when you choose the lowest payment option/longest term, even on a relatively small loan ($31k). I have $155k more in private loans that I'm focusing on, which is why I made the choice to minimize the federal for now (in addition to the forbearance of course), but I figured I'd give a real-life example for those that haven't quite understood the magnitude of how loans work. I know a lot of people are stuck in the position of making consistent, on-time payments and paying down virtually none of their loans like I outlined here, but I may or may not be working on a solution to help with this problem so hopefully I can help us all out at some point. [link] [comments]  |
| Posted: 04 Jan 2021 09:54 PM PST My daughter applied for a student loan with Discover, and it said that she would be approved with a co-signer. I completed the process and was declined, due to a 4 yr old bankruptcy. My payment history is perfect since then. I called Discover, and they said that their policy is that any bankruptcy is an automatic disqualifier. Does anyone know if Sallie Mae is the same? Or what options we have? The loan amount is less than <$10k, if that makes a difference. [link] [comments]  |
| Posted: 04 Jan 2021 09:09 PM PST Title. Sallie Mae considers each of my 11 loans as completely individual, so I have no choice but to make payments on all of them. I would love to pay the highest interest rate ones first, but I can't. Regardless, I would refinance them anyway because my interest rates are 8 - 9.75%, with my biggest loan being $33k at 9.5. It's brutal. Thanks in advance. [link] [comments]  |
| Repayment bank account on Parent Plus loans Posted: 04 Jan 2021 07:54 PM PST My partner has 3 parent plus loans that were taken out in the name of his mom. He has set up repayment for the loans through a joint bank account that has him and his mom listed. Is he able to change this to a different bank account, or does it have to come from an account with his mom listed? He keeps getting an error when trying to change the account online. TIA! [link] [comments]  |
| Question Regarding Parent Plus Loans & Standard Payment Plans Posted: 04 Jan 2021 04:07 PM PST Situation: I just graduated this past May and my loans have been in forbearance ever since, so I have yet to make any payments on them. In an agreement with my father, I will be making the monthly payments on both my federal direct loans and his Parent Plus loans. I have contacted my loan servicer, FedLoans, and opted for the standard repayment plan of 10 years for both loans. Question: If I pay the standard amount every month, will the loans actually be paid off in 10 years, or will I need to pay more than the amount they told me if I want to pay them off in that time frame? Thank you all in advance for your help! [link] [comments]  |
| Can you get federal student loans and military tuition assistance? Posted: 04 Jan 2021 07:20 PM PST If the National Guard covers 100% of my tuition, can I still get federal student loans to help me cover room, board, fees, etc.? [link] [comments]  |
| When updating family size for IDR do you have to submit most recent tax return? Posted: 04 Jan 2021 02:50 PM PST It looks like we will be adding two new additions to the family this year. I went to FedLoan to update my family size using this form (https://myfedloan.org/documents/repayment/fd/select-plan-idr.pdf) and I get down to question 14 which I answered "NO" and it states: "No - Provide your and your spouse's most recent federal income tax return or transcript. Skip to section 6." Except, section 5 has the instructions for documenting current income. Section 6 is just asking for my authorization/certification by signing the document. Last year we had to get a tax extension and reuse our 2018 tax return. If we had to recertify our income using our 2019's taxes our payment would go up even with a household size going from 2 to 4. [link] [comments]  |
| Should I use undergrad loans to pay for grad school? Posted: 04 Jan 2021 06:15 PM PST So here is my situation: I currently have 2 semesters left of my undergrad. I am fortunate enough to have a scholarship that covers tuition and I do not have to pay for my room and board due to my job, so I only have to pay fees, books, etc. I currently have about 9k of unsubsidized federal student loans from when I had to pay for housing. When the loans start accruing interest again, I was planning on paying off approximately 6k of them. I'm planning on going to grad school starting Spring of 2022 and from what my sister told me, the interest rates are higher in grad school federal loans (my current rates are all around 4.5%). Would I benefit in not paying back now and accepting all of what I'm offered in my undergrad to use for my grad school, or would I still be better off to pay them down now? [link] [comments]  |
| Grandpa died so I can now payoff my loans, no idea how to though. Posted: 04 Jan 2021 12:59 PM PST So I owe Canada and Saskatchewan about 15K total. I wanna pay it all off with one payment. Any idea how I do that? Can I negotiate a lower sum? Ps thanks grandpa. [link] [comments]  |
| Pay off interest across loans or pay off one loan? Posted: 04 Jan 2021 11:14 AM PST I have enough money to pay off the interest accrued over my unsub loans, problem is I have 15 total loans (7 sub and 8 unsub) but they are Group together in 10 combined loans. Should l pay off my lowest loan total while I can or pay off the accumulated interest across all the loan groups? I'm currently unemployed but have about $3,000 rn and following Dave Ramsey's step I just need at least $1,000 [link] [comments]  |
| UAS & Federal Perkins Loan Exit Interview Posted: 04 Jan 2021 08:31 AM PST I just finished undergrad this December, and the only thing standing between me and my diploma at this point is a mandatory exit interview/counseling that is required for anyone who's borrowed a Federal Perkins Loan. There's a hold on my diploma until this exit interview is completed. My Perkins Loan is apparently handled through a company called UAS, which based on a quick search of this sub, is a pretty trash company. And when I click the link on the UAS website to access my exit interview, I get taken to a very unhelpful error page (It just says "Whoops! There was a problem. Don't worry, we're working on that."). I've contacted both UAS and my school about this and neither were very helpful. Has anyone else run into this weird and frustrating issue? [link] [comments]  |
| Posted: 04 Jan 2021 02:09 PM PST I am 30 and bave a bachelors in business management. However I didn't use it and played pro sports for 10 years. I have no debt and $20,000 to my name. I'm jobless and doing nothing with my life as covid semi-forced me into retirement. So I guess I'll go back to school for engineering. Maybe computer or environment/civil. What should I do? What loan should I get. Should I even get a loan? Are loans going to change with biden being President? [link] [comments]  |
| Posted: 04 Jan 2021 10:19 AM PST Student Loans Okay, So I am unsure if this is the correct sub so it is listed in others as well. I will graduate next spring, and have about $17,500 in student loans with Common Bond. My grandma is the only eligible co-signer that I have, due to both parents being not present in my life, and they never have been. With that being said, I am a first generation college student, so I'm not very sure about how this works. Around the beginning of the Pandemic, I started receiving what I assume were spam phone calls. At first, the calls consisted of saying that my account was under review for fraud, band stating that I need to send payments to pay off that entire balance. We never received any letters or could we never get the callers to state where they were calling from or which student loans they were calling about. This to both me and my grandma sounded very wrong. So we contacted the lender. While reviewing the account, it was found that on one of the documents, my phone number had been listed for both mine and my grandmas part of the application. We cleared that up with the lender and sent in the correct phone number. I'm assuming that auto fill on my Mac filled out and I didn't catch it. Anyway, ever since then, even though I cleared it with my lenders, and confirmed that the calls were not from them. I still have this constant worry about it. Is this normal, or if this was them, would it be legal for them to assume fraud and demand payment with our consent of my grandma? I'm sure I have just put to much thought into it. But, Any advice is appreciated. [link] [comments]  |
| Taking the semester off (receiving conflicting information) Posted: 04 Jan 2021 01:58 PM PST Hi all, I'm planning to take the spring semester off from my 4-year university and just take 2 courses at my local community college to remain in in-school status for my subsidized federal loan. My school's financial aid office said that I might not be able to do this since those 2 courses at my local CC wouldn't be for a degree, whereas my loan servicer (MOHELA) says that it doesn't matter what those 2 courses are. Has anyone here taken a semester off, and how did it work out? Just want to make sure I'm not messing up. [link] [comments]  |
| Parents still unhappy about my decision to not go for MS in US. Posted: 04 Jan 2021 09:14 AM PST I am from India. My parents worked really hard to earn whatever they have in life. They started from absolute zero and crawled their way up the upper middle class. They always wanted me to go for MS in US. However, I was quite adamant about not going and said things like "I won't listen and will always do as I please. I will always do whatever I want.". Recently I came to know that my mom cried a lot that day. They still remember my words and they always hurt them every single time with the same intensity even after 3 years now. My father's friends have sent their kids to the US and are earning very well. My mom told me they sacrificed their dreams and worked very hard to earn that money. It was their dream to see me go abroad for education. And that will take my harsh words and those unfulfilled dreams to the grave. Moreover, when I got placed after my college, I quit my job in 2 years as it was not helping me grow and basically I was working in a dying technology. I had no interest in it. Another reason I quit by job was to work on my start-up idea. My mother advised me not to quit but I had an attitude of doing as I please. I quit anyway. My start-up failed due to Covid-19. It never took off and I worked there for 6 to 7 months. In those 7 months I earned plenty of experience in different web technologies. My mom did not talk to me for 7 months. It was difficult to accept that fact and still focus on my work. My point of view in this entire thing is that I have always been aware of the hard-earned money of my parents. Since my college days, I never splurged on things like drinks, parties, branded materials, etc. So, I was not prepared to allow them spend huge amounts of money on my Masters. I was scared of not being able to pay that debt. I was scared of disappointing my parents. I was afraid that I might settle in the US and never come back to them. I got a job in tough times like Covid-19. I have been employed for 7 months now. I earn above average and enjoy my work, growth and the learnings here. But recently I realized all the disappointment my parents have. I feel like I have never been a good son. I have failed to meet their expectations. My words have been too harsh... But deep down my intentions have always been right. I didn't want to lose their money. I didn't have the guts to tackle the life in a foreign land. Still it all feels like a huge failure. I feel like a failure who couldn't keep his parents happy. Can anyone show me the statistics of how things were 3 years ago with respect to studies, jobs and overall condition in the students in the US? Was it wrong to not study further when I had the chance? [link] [comments]  |
| Does anyone know if having money ($500+) in Robinhood make it harder to get money approved? Posted: 04 Jan 2021 12:54 PM PST When I enter my cash on hand and assets do investments make it so I will have more issues getting money? [link] [comments]  |
| Posted: 04 Jan 2021 08:20 AM PST I just graduated with a BFA in Graphic Design in December. Unfortunately I had to rely on student loans to pay for college. I have $25,728.11 in private loans with $5,946.93 of unpaid interest. Interest rates are 7.16% and 8.49%. I also have $57,466 in federal loans with $2,762.89 of unpaid interest. Interest was between 4-7% before the 0% interest was applied. So a total of $91,903.93 I currently owe. I only have a little over $3,000 to my name while I'm looking for a full-time job. I currently work part-time, but I'm not making a whole lot right now due to Covid. Should I just wait for the repayment period or start making small payments now? Note: my mom has offered to pay my two private loans off and I would just pay her back at 3% interest. [link] [comments]  |
| take out a loan for community college? Posted: 04 Jan 2021 08:09 AM PST so i'm planning to be enrolled in CC for about 2.5 years (since i'm starting this spring) and my hopes are to transfer to a UC or USC. bc of this my community college is in california (i'm in chicago). so my tuition is $4k plus units and everything it'll be $6k. my money from fafsa hasn't disbursed yet and i need to have everything paid by jan 20, (today is jan 4). i'm afraid that my fafsa won't disburse in time and i'll need an alternative method. if I were to take out a loan it would be through a credit union preferably and i'd begin paying on it a month after I get it. what are your thoughts? [link] [comments]  |
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