Employer student loan repayment of $5,250/year until 2025 - does it apply to private loans? Student Loans |
- Employer student loan repayment of $5,250/year until 2025 - does it apply to private loans?
- Now through 2025: non-PSLF IDR loan forgiveness tax bomb suspended.
- Voicing my opinion on student loan debt forgiveness to our representatives
- Just received a denial letter for income driven repayment is it due to Executive Order forbearance or due to increased income?
- is it worth to start paying now?
- Recertify IDR is delayed until September, correct?
- FASFA - How much did you earn from working in 2019 (Worked outside of U.S.)
- Refinancing Student Loans
- I need help, trying to figure this stuff out on my own. My mom never filed her taxes, how can I apply for FASFA? Other aid opportunities to take advantage of?
- Looking for help picking a loan repayment plan during a year off school!
- Talk out private loan to refinance federal loan
- Independent or Dependent Filing status for FAFSA
- Credit card vs student loan payment
- Past due Student loans now current for years
- Indiana University taking my state tax
| Employer student loan repayment of $5,250/year until 2025 - does it apply to private loans? Posted: 06 Mar 2021 02:20 PM PST I read today that the same benefit provided in the CARES act last year, allowing $5,250 per year of employer student loan repayment to be tax free, is now extended through 2025 through the Consolidated Appropriations Act of 2021. Can anyone tell me if this benefit applies to private loans? I know the forbearance through the CARES act doesn't, but can't find an answer specific to the student loan repayment. I'd love to ask my HR department to participate in this! [link] [comments]  |
| Now through 2025: non-PSLF IDR loan forgiveness tax bomb suspended. Posted: 06 Mar 2021 04:55 PM PST Assuming that as expected, House passes and Biden signs. "Section 9675 of the 628-page legislation changes the tax treatment of student loan forgiveness in 2021 through 2025, inclusive. The legislation excludes from income the full or partial discharge of student loan debt, making it tax-free. Eligible loans include: All federal student loans and federal parent loans, including Direct Loans, FFEL program loans (regardless of whether held by the U.S. Department of Education or commercial lenders), Federal Perkins Loans and federal consolidation loans All state education loan programs Institutional loans made by a college or university Private student loans and private parent loans The loans must have been made, insured or guaranteed by the federal government, including federal agencies, such as the U.S. Department of Education, State governments, colleges and universities, and private education loan lenders. The loans must have been made "expressly for postsecondary educational expenses, regardless of whether provided through the educational institution or directly to the borrower" [link] [comments]  |
| Voicing my opinion on student loan debt forgiveness to our representatives Posted: 06 Mar 2021 08:58 PM PST I'd like to reach out to the representatives who represent my district in the US House and my state in the US Senate. I'd like to include evidence with my opinions, but I also don't know how to properly write to politicians. Does anyone have experience with writing to their representatives? Is there a good template that discusses the pros and cons of student debt relief? Or a compilation of related scholarly research on the effects of student loan forgiveness? [link] [comments]  |
| Posted: 06 Mar 2021 09:25 PM PST I have 245k in loans remaining, through my training I managed to make 94 qualifying payments for public service loan forgiveness. I was pretty excited to sit on my qualifying 0$ payments for the past year and save for a house, through september I will be less than 2 years away from making my 120th payment and qualifying to have my loans discharged. Today I was reviewing finances in planning to buy a house and noticed that my submitted Income Driven Repayment renewal was declined. I was told previously by fedloan representatives that once my salary grew beyond qualification for these programs I should continue to submit my IDR paperwork to remain in the program and it would default me to a 10 year repayment plan and I would complete the rest of my 120 payments this way. Has anyone else experienced this? Was I denied because my salary grew too much or because of the current suspension of loan payments. I will be calling them on Monday but if I was misinformed about how the IDR program works with PSLF it changes a lot about my financial planning and I am a bit freaked out. [link] [comments]  |
| is it worth to start paying now? Posted: 06 Mar 2021 09:09 PM PST undergrad loans equal about 30k i graduate in may if i start paying small amounts on it now, is there a benefit or am i just putting money down drain? [link] [comments]  |
| Recertify IDR is delayed until September, correct? Posted: 06 Mar 2021 05:17 AM PST Hi, I went to recertify today and submitted it because I thought my original due date was still standing due to a letter from fedloan on Jan. 5. Looking now it seems like this was before the forbearance was extended through September, and so the deadline to recertify they sent in the Jan. 5 letter is now incorrect (although they never corrected it). Am I correct that I didn't need to recertify yet? I guess I just recertified early for no reason ? [link] [comments]  |
| FASFA - How much did you earn from working in 2019 (Worked outside of U.S.) Posted: 06 Mar 2021 07:33 PM PST Wondering if anyone knows how I can answer this question on my FASFA as I was a dependent in 2019 and go to school in Canada and therefore was working there too. I don't have a W-2 but I have the Canadian equivalent. [link] [comments]  |
| Posted: 06 Mar 2021 03:14 PM PST I have decided to refinance one of my private student loans. The rate is 4.75 variable. I'm thinking it would be worth it to switch to Citizens Bank which is offering 3.3 fixed for a 5 year term. I'm also debating over going to First Republic to refinance with them for an even lower rate of 2.2 percent (personal line of credit) The loan balance is about 23k and In my dream world I hope to pay off in 2-3 years. Would love to hear any insight as this is all new to me. For reference 800 credit score + 90k salary [link] [comments]  |
| Posted: 06 Mar 2021 02:38 PM PST Okay so there's kind of a lot to bite, and I don't know where to start. Just want to start by saying this isn't actually about me, it is about my girlfriend and her situation. Anyways, She's 18 and trying to go out of state to a uni. Her dad isn't in the picture, dead. Her mom is very lazy not supportive at all, here's the weird part. Her mom hasn't filed taxes in years, so how can she file for FASFA? [link] [comments]  |
| Looking for help picking a loan repayment plan during a year off school! Posted: 06 Mar 2021 12:15 PM PST I'm taking this year off school due to covid and complications that it brought and all and I'm at a loss for how to set up my student loans. I'm pretty confused so I'm just gonna try to give as much info and hopefully someone can help a little. I have one year left of school and about 19k in principle loans and $338 in interest through the Dept of Education/FedLoan servicing with both subsidized and unsubsidized. It says that they're in forbearance now, I'm guessing because of covid, but I don't know how the interest accrued since they all say they're at 0% interest. I stopped going to school after June 2020. I don't have any income now as I moved back with my parents and don't have a job. I have a couple thousand dollars saved up that I could use for payments if I really need to but I'd ideally like to save it for future rent and such but I'd like to pay off any interest. To be honest I don't know what I'm doing after school at all; I might go move somewhere and be a server or something to make enough money to live or I might go to nursing school and go that route. (my degree is in political science lol) That being said my goal right now is to figure out which plan to put them on because I have to complete my loan exit interview. It seems like forbearance/deferment doesn't show up as an option so it seems like I have to pick now and request that later if I want it. So idk should I just go into the income based one since my payments will probably be pretty low? I just don't want to accrue too much interest. As you can tell I'm clueless, please help! [link] [comments]  |
| Talk out private loan to refinance federal loan Posted: 06 Mar 2021 08:25 AM PST I currently have about 100k (all federal) in student loan debt. Majority is from my first bachelors in social science (70k), I worked at a school making only $37,000/yr in southern ca. I decided I was going nowhere with that degree and I became a registered nurse (2 yrs to get and worked as a nurses assistant making minimum during nursing school) and I have been for about 4 years. I took out more loans to pay for my bachelors in nursing. I also have my masters in nursing, but my employer practically paid for it. For the past four years I paid off all my private loans, credit card debt, and car. So apart from my student loans I have no other debt. Current Salary: about $105,000 with about 3-4% increase each year. Rent: $1500 a month for 1 bedroom (not willing to have roommates as I have had issues in the past) Federal Loans Total: $104,000 ($4,000 is Perkins loan and will all be forgiven next year since I work as a nurse at a non-profit). The interest rate of all the loans combined is 5.5%. Private Loan Refinance: I received an initial quote of 3.5% fixed rate from one of the lenders for 10 years. Theres also 3.25% for 5 years. I am thinking of doing 10 years then just pay extra incase I am not able to meet the $900 a month for the 5 yrs. My plan: Refinance about $50,000 of my fed loan to private. I have about $40,000 (out of the $100k, 40k have 6% interest rate). I want to keep $50,000 federal incase some sort of student loan forgiveness comes along or just have that extra protection of having federal loans. I am capable of putting in $1000-1200 a month on my loans, but I just want to know if this is a wise decision to change my federal loans to private. Should I wait until Sept when the fed interest rates increase or do I take this offer now. Any advice on how to tackle these things will surely be appreciated. [link] [comments]  |
| Independent or Dependent Filing status for FAFSA Posted: 06 Mar 2021 12:08 PM PST I'm planning to go to graduate school for my masters. it will cost ~45,000 total for 2 years of education. My parents make about $120K combined I think. Up until now, our ETF was ~13K/year (this is less than the UNDERGRADUATE school's annual tuition) and my parents claimed me on their taxes so I did not receive financial aid to this day. My question is that would it be wise for me to ask my parents to let me be independent on my taxes or continue to let them claim me. I paid for my college tuition by having a job but it was not easy not having financial support. They do not give me the 13k that FAFSA calculated, meaning I will pay most of my school expenses out of pocket. I have so many questions but my filing status is my main concern right now! [link] [comments]  |
| Credit card vs student loan payment Posted: 06 Mar 2021 08:42 AM PST I'm sorry I'm needing help figuring out best method out of debt. I currently have credit card $13 plus 54k in federal student loans. I'm trying to pay both but I see it's being slow process. Spending 1400 a month or student loans. Is it better if I just focus on my credit cards now and in September tackle in full my student loan? Please advise this is very stressful. [link] [comments]  |
| Past due Student loans now current for years Posted: 06 Mar 2021 11:40 AM PST Is there any way to have past late student loans removed from credit? They have been current for 4 years. [link] [comments]  |
| Indiana University taking my state tax Posted: 06 Mar 2021 07:53 AM PST How is it possible the Indiana University is taking my state taxes? Will they take my Federal too? Isn't that put on hold from being taken until Sept 2021? I am utterly confused. [link] [comments]  |
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