Having a difficult time paying off my loans Student Loans |
- Having a difficult time paying off my loans
- Reporter seeking Massachusetts borrower who has been victimized by a student loan scam
- Terrified by my loans
- Need advice about taking out more student loans than the career yearly income (100k loan)
- Has anyone disputed a loans default status based on lack of communication?
- Nelnet Parent Plus Loan
- Helping hand
- Navient loans - new IBR with $0 payment?
- Giving the address of a parent I don't live with
- Refinancing, how soon is too soon?
- Teacher Loan Forgiveness- $5000
- Direct Loans dispersed but service not paying off old loans
- FASFA Parental Assets
- Loan amount doubled on studentaid .gov site
- Advice on loans for grad program
- Closed Loans?
- Am I making a terrible decision by quitting my job to live on student loans?
- Loans for international
- Student loan paid off overnight?!!
| Having a difficult time paying off my loans Posted: 25 Feb 2021 09:52 AM PST I started school in 2013. I had to take a break with 3 semesters left due to horrible family issues. I have about $30k in loans through Sallie Mae. Before covid, I was able to stay on top of my payments. My family owned a bar, and it was bringing in enough money for me to stay on top of my finances. However, due to the pandemic, My family has had to sell their business after 40+ years. I have applied for unemployment, but have yet to receive any compensation. I have fallen behind on my loans and am at risk for defaulting. I don't know what to do. I have roughly $400 to my name, and none of my family members are much better off. I have been focusing more on keeping a roof over my head than repaying my loans. I have a job interview next Friday, but I am scared of defaulting and I am sick of Sallie Mae's harassing and threatening phone call. I am constantly anxious about this whole situation. Any advice would be greatly appreciated [link] [comments]  |
| Reporter seeking Massachusetts borrower who has been victimized by a student loan scam Posted: 25 Feb 2021 01:05 PM PST Hi there friends. I'm working with a reporter at a Boston news station who is doing an important story on student loan scams. She would love to interview someone who has been a victim for the story to further help educate others on these scams. If you for this profile please let me know and I can connect you to the reporter via email. [link] [comments]  |
| Posted: 25 Feb 2021 12:04 PM PST I feel physically sick when I think of how much debt I have in student loans. Presently, I have about $48,000. I'm a junior at a state university, I hate my major, and I have no idea what decent paying job I'll be able to get with it. I'm an English major, by the way. I absolutely hate it. I hate writing essays - I honestly have an existential crisis every time I am assigned an essay and think of dropping out of school or killing myself (just ideation - I am not going to). I just want to stop. I don't want to continue with this major. I don't want to take out any more loans. But I don't know how to stop. I don't think my friends or family will value me if I stop pursuing this degree. My two closest friends have PhD's and I honestly feel like I will not be worth hanging out with to them if I do not have a degree. I won't be invited to dinner parties or out. I'll be all alone. But I hate my life right now. Even though it seems simple to go with my gut and quit my major, I am scared to do that. I just feel sick. [link] [comments]  |
| Need advice about taking out more student loans than the career yearly income (100k loan) Posted: 25 Feb 2021 06:45 PM PST Hi, I have interviews for genetic counseling masters programs and maybe I'm getting ahead of myself but I figured it's better to think of all my outcomes/options. Currently the schools that I'm interviewing for all cost 100k+ in tuition (which I certainly don't have). The median salary for a genetic counselor where I want to live/settle down is about 75-85k. Is it ridiculous to take out that much in student loans, when the salary yearly income doesn't even come close to covering the debt? I don't have any debt from undergrad, and an okay amount of savings, but that's for buying a house. If anyone has any advice on taking out loans with a lower pay grade after completing school, that would be really helpful. Thank you!! [link] [comments]  |
| Has anyone disputed a loans default status based on lack of communication? Posted: 25 Feb 2021 06:07 PM PST I will try to keep it short, sorry for the poor structure. Basically asking if anyone has disputed a loans default status based on lack of communication. I would like to prelude by acknowledging that what I did was dumb. But upon reconciliation call they asked if I had a phone and if they could get the number for their records. Not as a verification, they admitted that there was no way they could communicate with me the entire time. I have had the same number since 08. But over the course no snail mail, no emails, no calls. Took loans in 2012, dropped out by 2014. Wage garnishment and no tax returns until 2019. DofE stopped showing up on my credit reports as soon as garnishments stopped. Get a call from a service that suggested I use the Cares Act as a way to get back in good standing. Pulled full report. Debt is in collections. I suppose I thought that by not acknowledging the debt, the garnishment system would take what they were owed. It seemed like it did. Until today. I am ready to put on my adult pants and pay my way out (like I should have in the first place, I know) but shot in the dark I figured asking if anyone has fought their way into good standing on similar grounds. [link] [comments]  |
| Posted: 25 Feb 2021 06:24 PM PST Hi! I have a parent plus loan, it is in my father's name but I have been paying off for the past 6 years. A few years back I found this link: https://studentaid.gov/manage-loans/forgiveness-cancellation/death Does this apply to Nelnet? Obviously, I do not wish anything ill upon my father, however, if something were to happen to him... what would happen to my student loan? [link] [comments]  |
| Posted: 26 Feb 2021 12:22 AM PST I can lend a hand if you've got credit card bills to pay dm me [link] [comments]  |
| Navient loans - new IBR with $0 payment? Posted: 25 Feb 2021 12:30 PM PST My loans are on auto-pay so I rarely check the site, but when I was balancing my accounts for February, I noticed that the Navient payments weren't taken out. I started investigating and found a file in my inbox on the site that says the IBR was recalculated and it's now $0/month: "Your Income-Based Repayment (IBR) plan has been approved on your eligible loans. Your calculated IBR plan payment amount: $0.00 Plan begin date: 02/15/21 Plan end date: 01/15/22." Not sure how they determined this. I've been paying on these loans for several years, and my income has done nothing but increase. I assume this is some kind of Covid-related mess-up? I don't want to call them to ask because I set up this IBR payment a long time ago when I basically made no money, and every year it renews and the payments don't increase, despite my income increasing. I'm fine with it, because I pay extra towards them every month, but I like having the flexibility to skip a month if I need to, rather than having the higher payment be mandatory. [link] [comments]  |
| Giving the address of a parent I don't live with Posted: 25 Feb 2021 03:09 PM PST I'm preparing to fill out the FAFSA for the 2021-22 school year. I currently live with my father (parents divorced), but I'm thinking about telling them that I live with my mother instead, as her income is significantly lower than my father's, and I would get much more financial aid. Would they ever be able to find out that I don't actually live with her? [link] [comments]  |
| Refinancing, how soon is too soon? Posted: 25 Feb 2021 02:42 PM PST Looking for a little advice from anybody who's been down this path before. I have a proximately $100,000 worth of private school dept. The debt was originally owned by Wells Fargo, in 2017 I refinanced the debt through SoFi for a better rate under a 20 year payback. In March 2020, I refinanced the same debt to a better interest-rate (now at 5.4%),and a 15 year plan. Essentially payment is roughly the same but I shaved two years of payments off my loan. I was researching different providers and Ernest came up as a potential lower interest rate 3.87% 15 year loan. Or 3.25 for 10 year loan. In all honesty, I just wanna be able to take the interest rate offer to SoFi and see if they'll match it. Market looks like it's heading back up, so it feels like the time to strike is now on getting the lowest possible interest rate. I've already made a year of payments at the refinanced rate. My question is – 1) is refinancing one year after you just refinanced a bad idea?, and 2) has anyone ever seen a loan provider negotiate the term of years for numbers that aren't your standard 5,10,15,20? [link] [comments]  |
| Teacher Loan Forgiveness- $5000 Posted: 25 Feb 2021 05:22 AM PST Hi all, I submitted my application in September and was told it was resubmitted in November. I have called my loan servicer a few times and was told I am approved for forgiveness. How long does this usually take? My loans are currently in administrative forbearance but that ends the 6th of March. [link] [comments]  |
| Direct Loans dispersed but service not paying off old loans Posted: 25 Feb 2021 06:04 AM PST My wife recently consolidated her 2 FFEL loans into 2 Direct Loans to qualify for the interest freeze. The money was disbursed on Monday but still hasn't been applied to pay off the FFEL loans. Instead of showing 2 loans with a balance of around $15,000, it is showing 4 loans with a balance of around $30,000. The FFEL loans are still accruing daily interest. I won't be able to call the servicer with her until next week as she will be at work. Has anyone experienced something like this? [link] [comments]  |
| Posted: 25 Feb 2021 10:39 AM PST My mom owns a business but is in the process of being sold (Less Than 100 Employees) That business holds some land. It is a horticulture business, so we grew trees. The FASFA asks " As of today, what is the net worth of your mother's investments, including real estate (not your mother's home)?" Do the business assets (Bank Accounts and Land) have to be included in that? I'm reading a lot of places that say business assets are not included. [link] [comments]  |
| Loan amount doubled on studentaid .gov site Posted: 25 Feb 2021 01:32 PM PST I just logged into studentaid .gov to check something and my balance there shows I owe twice as much as what Nelnet says I do. I've got an email in to them but does this occur for anyone else? I'm hoping it's some glitch from them processing my IBR last month and determining I no longer get a reduced rate, but I almost sh*t when I saw double the amount I actually owe. [link] [comments]  |
| Advice on loans for grad program Posted: 25 Feb 2021 09:39 AM PST Hi folks, I want to go to a grad program that will cost about 90k a year. Between max FASFA aid and a need-based scholarship, I will owe about $75,000 a year for 3 years. My bank has student loans that go up to $100,000 total. Will another bank be willing to give me another loan after I'm already $100,000 in debt after the first loan? The bank told me to ask my school for advice. The school said to apply for merit-based scholarships and to get private loans. Not great advice so far. Any words of wisdom? [link] [comments]  |
| Posted: 25 Feb 2021 09:17 AM PST I got an email from my Experian account that I've been doing a great job paying off my loans so I logged on to my account to "see my progress." My FedLoans that I took out in 2014ish time frame all state that they're current but closed. My loans have been deferred for quite some time, partially because i was either still a full time student or active duty military. I wasn't sure if this was accurate so I wanted to ask if anyone else has experienced this before or if anyone knows how I look into whether those accounts are actually closed. Thank you in advance! [link] [comments]  |
| Am I making a terrible decision by quitting my job to live on student loans? Posted: 24 Feb 2021 08:28 PM PST I am 21 and I have about a year and a half left of college after this semester. I've taken out a couple thousand dollars of loans, but I have the money to pay them all back (they're subsidized). The money is just sitting in my bank account because I've been thinking about quitting my job and using that money. My college is now paid for (disability rehabilitation program) so I won't have to take out any more loans for tuition. Recently, it's been really hard for me to juggle school and work. I have 2 majors and a minor and if I want to graduate on time, I have to take a lot of classes my last few semesters. I realize that plenty of people can work and go to school, and I've done it for a while but I'm miserable. I hate my life and I feel like I have no time for anything. If I quit and I don't work for the rest of the time I'm in college, I will owe about $15,000 when I graduate. Though I plan on getting a job this summer and the next, so I'm hoping that it will end up being a little less than this. I am studying to be a teacher and will make about $44,000 a year my first year of teaching. I was pretty confident about wanting quit, but my dad (who I live with and pay rent to every month) is trying to convince me not to and now I'm questioning it. So to everyone here who knows what it's like to graduate and have to start paying them off, what would you do? Is this something I'll regret? [link] [comments]  |
| Posted: 25 Feb 2021 04:54 AM PST Hi! Is it possible to get a student loan in case I'm an international student? (Russia) Thanks! [link] [comments]  |
| Student loan paid off overnight?!! Posted: 25 Feb 2021 09:28 AM PST My friend just had Experian notify her that $10k of student loan debt was gone. I checked my Experian and found the same. Anyone else?! I can't find ANY information on this! [link] [comments]  |
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