Student Debt Mountain (to me) becoming a mole hill bit by bit!! Student Loans |
- Student Debt Mountain (to me) becoming a mole hill bit by bit!!
- What are the odds student loans forbearance will extend beyond September 2021?
- Do you think the upcoming generation’s view on college has changed yet?
- How to pay off student loan
- Help for a student loan newbie
- Wells Fargo selling my student loans
- If our loans are consolidated (Nelnet), do they qualify for the COVID halt in payments and interest? And would they qualify if Biden wiped out $10k or more?
- Transcript needed for grad school but there's a hold on my undergrad university account + three different agencies are claiming they don't have my loan
- Is it possible to play student loan refinancers off of each other for a better rate? Or is restricted to what their online system offers?
- Financial aid
- PLUS loan balance not appearing on FSA dashboard?
- Refinance Loans Again?
- Hello SL, wanted to know if the program Obama had for school debt forgiveness was still active?
- Is it possible to take out two student loans from the same bank? If the bank offers a student loan of up to 12500€, is it possible to take out another loan of 8000€ in the same bank for example?
- Paying student loans with a debit card (read for details)
| Student Debt Mountain (to me) becoming a mole hill bit by bit!! Posted: 05 Mar 2021 11:27 AM PST A bit of a long post ahead, but I'm damn proud of what I've accomplished!! I became a slave to student loans about 10 years ago when I graduated from a private vocational school and gained a certificate/diploma to become a Licensed Vocational Nurse totaling about $32,000 in private student loans. I was 19 when I started, broke, and my parents could not afford to help me. When I graduated in late 2011, became licensed early 2012, and started working, I was making $48,000/year, and had to buy (or thought I had to) a new, reliable car as both my prior early 2000's Volvo cars I owned had transmissions that failed me miserably! I also moved out on my own, yay me! Anyways, this was the most money I had been making as a 20 year old in the beginning 2012, and was super proud to have a nice new car and seemed "ahead" compared to other young people my age... That was until Sallie Mae reared her ugly face at me and I was brought face to face with student loan repayment that I realized paying these loans, my car, and trying to live on my own was not going to work for long. I knew I was going to go back to school for my RN, but was NOT going to go the private school route again and pay an arm and a leg for what I had previously experienced as a mediocre education. In 2013, I began pre-requisites for Registered Nursing, moved back home after a break up, and my student loans entered deferment due to my schooling status...they remained in deferment throughout my schooling, and I was even able to move out on my own again, but deferment expired soon enough, and I made minimum payments as I began the true heart of my nursing education for my Associate's Degree in Nursing at a community college. I quickly realized I could not work and do this program at the same time (though in hindsight I might have been able to). Due to bills and transportation, I had to take out MORE student loans to cover costs of living while going to school. When all was said and done, $22,500 was added to my student loan balance, and I had to move back home during my last year. Oh, wait, what is this? An opportunity for my Bachelor's Degree at a CSU that collaborated with my Associate's program?! Sure! Let's add $14,400 to the bill... By May of 2019, and still living at home, I had now accumulated $68,900 in student loan debt over the past 8 years, but was now under the 6 month grace period after graduation. That summer, I gained employment as a Registered Nurse and my income more than doubled. I was finally able to afford LIFE- student loans and all. I began earnestly paying off my mountain of loans in September of 2019. In March 2020, my Federal loans went to 0% interest, no payment required due to Covid...this is where I gained the most traction, while remaining wholeheartedly thankful I was still able to even work. I worked hard, I saved, I budgeted, I paid off my car, credit cards etc... my student loans weren't going to stand a chance! Today, finally, almost 10 YEARS LATER I have completely paid off my private student loans for my previous Licensed nursing education, along with some of my ADN/BSN schooling... Current loan balance is $23,030, and I will be on track to pay this off by the end of this year. When I think of how much my RN education at community college and state university was compared to a private route costing $60,000-$100,000, I feel like I came out pretty good. If you read this far, thank you. And if you find yourself in a similar or possibly worse situation, I am sending you all the best hopes and dreams of a student loan debt free future. I felt like my tires were spinning for a long time, and it took a pandemic to actually feel like I could gain traction... I feel blessed to be working in the healthcare field, and I hope there will be some relief for my fellow student loan holders this year. In the mean time, keep your head up... we're all climbing our versions of our mountains whether it be Mount Wycheproof (had to look up shortest mountain) or Mount Everest... we accomplish our climb step by step! Edit: my private education loans were a mix of private and federal- I paid off the private last year, and just now paid off the rest of the Federal! Edit 2: a large part in my success has been from living at home and the income I do now... rentals where I live are scarce and unreasonable, especially now. My now husband and I live with my parents and we all split costs which has actually helped my parents too during this time. I do realize my privilege in this, and I think any success in our student loan story big or small, or who has what and who doesn't... is still a success, and that's what I am aiming to celebrate. Any payment, any savings is HUGE right now for anyone! [link] [comments]  |
| What are the odds student loans forbearance will extend beyond September 2021? Posted: 05 Mar 2021 03:35 PM PST What are the odds student that loan forbearance will extend beyond September 2021? I can see the advantages: It allows more immediate relief without having to rush through legislation. Then student loan forgiveness could be the next big reconciliation bill next year. What do you think about the chances of the forbearance being extended beyond September 2021? [link] [comments]  |
| Do you think the upcoming generation’s view on college has changed yet? Posted: 05 Mar 2021 02:35 PM PST Or is the whole ""go to a 4 year college to be successful"" rhetoric still having its day? Are students taking to heart anything that is currently happening with the student loan crisis, or has the indoctrination changed at all? I really hope things are changing but I don't have a reference group and I have no idea what they are doing/teaching to high schoolers these days. [link] [comments]  |
| Posted: 05 Mar 2021 03:59 PM PST im finishing up my undergrad with $34,000 in student loans, i worked full time and have about $30,000 saved up. Ill be doing a masters program after that costs about $45,000, should i put the money i saved up towards paying my student loan up front, towards my masters, or take out a loan on top of my current loan? [link] [comments]  |
| Help for a student loan newbie Posted: 05 Mar 2021 06:03 PM PST Hi everyone! I'm changing careers and got accepted into a graduate program, but I will have to pay most of it with loans. I'm completely lost when it comes to student loans though-- I did my undergrad outside of the US, so I don't know how any of this works. I just know I have to fill out the FAFSA. I was looking around online and found Sallie Mae, but I see a lot of bad stuff about them. I'm just feeling really overwhelmed. What should I be looking for? [link] [comments]  |
| Wells Fargo selling my student loans Posted: 05 Mar 2021 11:37 AM PST I have an pretty high amount of student loans work wells Fargo. This week, I received a letter that they don't want to process student loans anymore so they are selling my student loans to a new company that I have no say in. Is this legal? I feel like I have no control over this even though I entered into an agreement with Wells Fargo only. Does anyone have any experience with this? Should I expect any issues? I'm already feeling inconvenienced with the idea of having to set up new payments to someone else. [link] [comments]  |
| Posted: 05 Mar 2021 12:49 PM PST It's actually my wife's loans, about 70k. Consolidate through Nelnet years ago. They just took a payment today which confused me because I thought we didn't even need to opt into pausing -- that was the point of the Biden order? Any advice would be greatly appreciated. The account begins with D. Accounts that start with a D or a J are owned by a bank, credit union, or other lender and are not eligible. Other options may be available. So am I screwed? [link] [comments]  |
| Posted: 05 Mar 2021 12:28 PM PST crossposting in /personalfinance I am enrolling in grad school this fall and I requested an official transcript from my undergrad (graduated 2015). I received an email saying there's a hold on my account and I need to resolve it. So I called Undergrad University and they said yes indeed there is a hold on my account and that I need to contact their loan servicing agency. I called their loan serving agency and they said my loan is now at a collections agency. I called the collections agency and they said my loan has reached the Statute of Limitations and was sent back to my undergrad University. I called my undergrad university again and they insisted that as of January 29th, 2021 my loan is listed with the collections agency. I called the collections agency and they said my loan was sent back to my undergrad university in mid-October of 2020 and insisted there is nothing they can do and are no longer dealing with this loan. And just to be safe, I called the loan servicing agency again, explained the various calls I've been on and they said "there's nothing we can do on our end because we reflect the same thing as the school (account is currently assigned to collections agency)." Has this happened to anyone? Why are three different agencies who've dealt with my loans telling me three different things? And will I ever get my transcript? Does anyone has any advice or insight! Very confused! [link] [comments]  |
| Posted: 05 Mar 2021 02:17 PM PST With my mortgage refinancing I was able to begin with one lender, get a closing disclosure, and show that to another lender to get a better rate. Is it possible to do something similar when refinancing student loans given that there isn't any physical asset they can collect on? Or is everything restricted to what the online system tells you? [link] [comments]  |
| Posted: 05 Mar 2021 06:18 AM PST So I recently got a financial aid offer from Hunter College and the only aid it shows is TAP and from FAFSA. (None from the college) Does this mean that this is final or will I be eligible for aid from the college once I accept the admission? [link] [comments]  |
| PLUS loan balance not appearing on FSA dashboard? Posted: 05 Mar 2021 12:38 PM PST On my parent's FAFSA account, I can see documents stating that PLUS loans were approved and distributed for each of the different years I was in school. However, on the 'my aid' section, and on the dashboard, it says that FAFSA has no information about these loans, or their servicer. On the FAFSA account linked to my own SSN, I see my other loans, but not the PLUS loans. Does anyone know where I can go to see the overall balance, as well as the servicer? [link] [comments]  |
| Posted: 05 Mar 2021 11:46 AM PST Hi all, I'm 28 have $22k left in loans at 4%, I started at $29k and refinanced last year with SoFi before coronavirus hit (lucky me). Wife and I have steady incomes ($145k combined) and I'm getting a big raise in April. My term is for 5 years, I'm paying $506 a month, I went online to see my current rates, and I saw I can get 2.98% which comes out to like $390 a month. Does it make sense to refinance again? Or should I keep paying what I'm paying? Also, we have about $46k cash I could potentially use to pay it off or a large portion of it off. The only non-mortgage debt we have is her car payment each month, no other outside debts. Thanks! [link] [comments]  |
| Hello SL, wanted to know if the program Obama had for school debt forgiveness was still active? Posted: 05 Mar 2021 11:20 AM PST Hello, wanted to inquire on the school debt forgiveness program Obama had was still active and how one would sign up for it [link] [comments]  |
| Posted: 05 Mar 2021 06:05 AM PST |
| Paying student loans with a debit card (read for details) Posted: 05 Mar 2021 07:01 AM PST There are now debit cards that offer cash back or reward points on all purchases. Does anyone know of a way that allows one to make debit card payments to student loans that's not over 1.5% in fees. For reference the monthly payment would be about $850-$1000 a month (you can see why I would want 2% back at those prices). [link] [comments]  |
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