Surprise! My Loans are default. Student Loans |
- Surprise! My Loans are default.
- Federal Student loan balance increased!
- Wells Fargo student loan advice!!
- Does a large payment lower your monthly payments?
- ACS / Conduent Student Loan records keeper?
- Personal loan for resident
- How much lower were your monthly payments after consolidating?
- Does federal loan Stop Payment and COVID-related Relief apply to federal loans sold to private companies?
- Government loan consolidation
- Has anyone "made a deal" with their bank when it comes to payoff?
- Can I refinance my spouses private student loan to my name only?
- Purposely Taking Out a Subsidized Loan?
- How to find amount of qualified payments for ibr
- Would taking all my parents' financials increase my brothers financial aid ?
| Surprise! My Loans are default. Posted: 10 Feb 2021 04:25 PM PST I received a call today from ICR (Immediate Credit Recovery) a Department of Ed collection agency. They informed me that I still owe $16,000+ in federal student debt. (90 day settlement offer of $12,000ish) The last communication I had with the Department of Ed was in 2015 and my loans were closed. Any advice on what to do now?! Edit for more context: Evidently the Post Office has been returning all correspondence from the Department of Ed since 2015. From my PO Box. No emails. No letters. No phone calls. [link] [comments]  |
| Federal Student loan balance increased! Posted: 10 Feb 2021 08:40 AM PST Hi all. For whatever reason, the total balance on my federal student loans slightly increased. They all fall under the CARES act and reflect an interest rate of 0%. My servicer is FedLoan. Since the start of the pandemic I've been making $160 monthly payments to my loan. Obviously, my balance month to month decreased by $160. I'm aggressively saving money on the side to hopefully pay these off in no more than 3 years. Brief balance history: Dec 2020- $234,450.59 Jan 2021- $234,290.59 Feb 1 2021- $234,130.59 Today- $234,295.17 I track my loan balance on a spreadsheet every month. The fedloan website is useless. I chatted with someone at fedloan and they insisted that my loan balance has not increased since last month. This is simply not true. Aa far as I can tell, there is no way to pull up a total loan balance history on the fedloan site. This website is probably the worst site I've ever encountered. Is anyone else going through the same issue? Any thoughts on how to handle? [link] [comments]  |
| Wells Fargo student loan advice!! Posted: 10 Feb 2021 11:47 PM PST About a month ago Wells Fargo said they would be getting rid of student loans and transferring the debt to a third party collector, where borrowers could no longer make any changes to co-signers or interest rates. Borrowers would simply make payments. However, they gave borrowers options for consolidation and refinancing. I have been itching to change my original co-signer for another. I'm currently at 21,500$ with a fixed 9.19% rate paying 220$ a month. If I change co-signers and consolidate (it will no longer be considered a student loan but rather a general loanI) it will be at 8.69% fixed rate and my monthly payments will be 50$ more. My original co-signer suggested I pay him 10,000$ upfront in September of 2021. And that he would pay the remaining 12,000$ just so it doesn't keep growing into a never ending loan. We would totally done with it.. and I would pay him the 12,000$ through a monthly payment. I have heard this can be harmful to credit (to pay a loan all at once). But I'm not sure. But he would still be involved. Now I'd owe him the money directly. [link] [comments]  |
| Does a large payment lower your monthly payments? Posted: 10 Feb 2021 06:21 AM PST Currently, I owe FedLoans $36k and I'm in my last semester of my Masters/Credential program. I received an email for Feb Loans saying my monthly payments will be $400. Tbh, Im studying to be a (highly underpaid) teacher, and the idea of 400 scares me. If I make a large payment, such as $10k, will it lower my monthly payments when I do have to start making payments? [link] [comments]  |
| ACS / Conduent Student Loan records keeper? Posted: 10 Feb 2021 09:58 AM PST ACS, the notorious student loan servicer, was my servicer for years (after about 2002). I never missed a payment and paid more than the amount due (which, it turns out advance my due date but didn't decrease my principal). After the CFPB closed down ACS, my loans were transferred to Navient. Smooth sailing with Navient, but I have a lingering suspicion that the balance that was transferred from ACS to Navient didn't include all of my extra payments that advanced my due date. I requested information from Navient, but they said "contact ACS". ACS renamed itself to Conduent, and now both are out of business. [link] [comments]  |
| Posted: 10 Feb 2021 02:59 PM PST I am a US-IMG with no loans thankfully. I want to take out a personal loan of around $20000-30000. I owe money to some people i borrowed during med school plus im getting a good deal on a car i plan on buying if i pay cash. What options do i have? Im completely clueless and would really appreciate you guys helping out. Thanks! [link] [comments]  |
| How much lower were your monthly payments after consolidating? Posted: 10 Feb 2021 02:44 PM PST I'm looking to consolidate my private loans which are about 55k. My highest interest rate is 8.5. My monthly payments are 506 and I'm really trying to get that down. I was just wondering how much you all have been able to get that down. I'd really love to at least get it down by ~200 a month. Obviously this is all dependent on credit score which I'm trying to build. Just curious! [link] [comments]  |
| Posted: 10 Feb 2021 08:38 AM PST My partners federal loans were in default for a long time. We recently started paying them off and as soon as he was out of default the loan was sold or transferred to a new entity. Does the stop-interest and any potential federal loan forgiveness that's being talked about in the news apply to federal loans that have been sold? [link] [comments]  |
| Posted: 10 Feb 2021 08:31 AM PST I recently refinanced what I have in private loans to 3.57% but still have about 50k in gov loans with interest rates ranging from 4.5 to 6% interest. Just curious of what consolidation does. Does it remain a gov loan, will it decrease interest rate potentially? I have about 13k set aside to pay when forbearance ends and I have stable work and will likely have much more saved by then just curious if this is something I should look into. TIA [link] [comments]  |
| Has anyone "made a deal" with their bank when it comes to payoff? Posted: 10 Feb 2021 12:11 PM PST Years ago I read articles, though I think they were fluff pieces now that I remember about how borrowers can negotiate payoff amount for their student loans. The payoff would usually be lower than the current balance with the interest accrued. For example, if you had 18k on the balance, but if you pay it off it's only around 14k. One of my loans is through AES, which they are actually through a bank in PA I've managed to get down close to 16k. I have more than that in my bank right now thanks to saving so much since the career shift into IT and living well below my means. I'm tempted to pay it all off right now before the 0% interest ends. The hit in my bank account will hurt, but that's 320 a month I can save up again in case of emergencies. Tried this attempt once in 2016, AES didn't budge and the bank in PA told me to basically (cheese off). There is no payoff amount there, just pick a day and they calculate the interest you would owe which sounds shady to me as if they're wanting to squeeze every last penny from you. Hoping to get some tips to try out, otherwise I'll have to grind it out right before September and make my decision then. [link] [comments]  |
| Can I refinance my spouses private student loan to my name only? Posted: 10 Feb 2021 08:05 AM PST Which loan is relatively easy to get approved for? The amount is ~$150k. [link] [comments]  |
| Purposely Taking Out a Subsidized Loan? Posted: 10 Feb 2021 11:14 AM PST Hello r/StudentLoans, I've been wondering if there is some benefit to purposely taking out subsidized loans for paying tuition & fees. I am in-state that pays about $5,500 for tuition and fees each semester. Also, I don't pay for room and board since I'm an online student. I've completely paid for both of my semesters so far. However, I've been thinking that it might be better to take out a subsidized loan to help pay for the tuition and fees next semester instead of paying the whole amount right away. This way I could have more money to invest in ETFs and save in my high-yield savings account. Then, before I finish college, I could just use the money that I've gained and had saved up to pay off all the loans before accruing any interest. Is this even worth doing? Is there too much risk involved (e.g. stock market shits itself)? Are there any other complications to my idea that I might not be aware of? Thanks. [link] [comments]  |
| How to find amount of qualified payments for ibr Posted: 10 Feb 2021 11:10 AM PST I have been on repaye for 3ish years and I want to go d out exactly how many qualified payments I have made for forgiveness. Currently I am creating a spreadsheet with long terms repayment options and trying to figure out exactly how much I may pay on ibr if I continue the minimum. I am serviced with nelnet. And I do not qualify for pslf. [link] [comments]  |
| Would taking all my parents' financials increase my brothers financial aid ? Posted: 10 Feb 2021 09:33 AM PST Hi all, this is obviously a burner account but I was wondering if my parents transferring all the family financials to me would actually increase my brother's financial aid. **My brother is three years away from college and is a HS sophomore** Situation:
Questions:
This strategy just seems too good to be true and the rule of thumb when it's too good to be true is that it probably is. Any advice would be great !!! Thanks in advance !!! [link] [comments]  |
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