Finally did it! Paid off my Student Loans Before Its Grace Period Ended!! Student Loans |
- Finally did it! Paid off my Student Loans Before Its Grace Period Ended!!
- Finally paid off my student loans!
- [Question] Are the new federal student loan servicers still something to be concerned with?
- Navient keeps changing loans to pay ahead
- Should I do it?
- Question about the term of repayment on a FFEL student loan disbursed in 2005.
- Pay down Student Loans while deferred (until9/31) or invest extra money now until loans need payment
- Default / In-Collections. Forgiveness? Negotiation?
- Both Navient and Sallie Mae around $25k - Navient I pay $160/mo, Sallie Mae $580. I need to get this down.
- Na isn’t
- Should i not pay off my debt? everyone is driving me crazy!!
- Timing IDR recertification for PSLF
- Pay Off Quote
| Finally did it! Paid off my Student Loans Before Its Grace Period Ended!! Posted: 04 Apr 2021 05:20 PM PDT Hi friends of Reddit, I just wanted to hop on here and say I frickin' did it!! I paid off ALL my student loans (of ~$20k) within the grace period. I was so deadset on not paying interest on the loan, and was able to pay it all off with 10 days to spare before interest would start accruing. I worked extra shifts on the weekend, sold items of mine that I didn't need and was happy to pass along (not much $ but it helped), etc. I will say - shoutout to staying/living at home though - saved me loads of $$. Keep going, if you're also still paying off those student loans! Watching that amount you owe go down is so satisfying. You're so close! :) [link] [comments]  |
| Finally paid off my student loans! Posted: 05 Apr 2021 04:16 AM PDT My outstanding balance was $112,000 when I graduated in May of 2016 (a little less than 5 years!). I went on spurts of making the minimum payments and spurts of putting every last dollar into my loans. I refinanced 4 times, progressively getting smaller and smaller interest rates (from 6.5 to 3.15). My average payment was around $1800/mo. If I could go back in time, I'd work a bit more during undergrad to pay of debt as I go and I'd take out less than the maximum loan amount. I try to tell me niece this (she's a sophomore), but I'm sure it falls on deaf ears. Feels good to finally be free! [link] [comments]  |
| [Question] Are the new federal student loan servicers still something to be concerned with? Posted: 04 Apr 2021 09:45 AM PDT For the past few months, I've been making backups upon backups of every correspondence and statements I have from my federal student loan provider (fedloan servicing), in anticipation of the loans eventually being transferred to another provider and things potentially getting mixed up. My question is, has anything changed with this situation lately? Do I still need to worry? This was the news I'm referring to btw: https://studentloanhero.com/featured/nextgen-student-loan-servicers/ [link] [comments]  |
| Navient keeps changing loans to pay ahead Posted: 04 Apr 2021 08:56 PM PDT I've been paying extra on my student loans and every month I have to call Navient to reset my payment amount for autopay. I have autopay setup where extra payments shouldn't count for pay ahead status meaning the same amount is extracted every month regardless of extra payments. However, it seems that due to the extra payments I make the autopayment decreases. Is there anything else I can do besides calling every month? I didn't start having this issue until January of this year and I was paying extra last year as well. [link] [comments]  |
| Posted: 04 Apr 2021 04:31 PM PDT I really want to go to nursing school. Have been interested in it since high school and I'm now almost 31. I live somewhere where I'll have my schooling paid for for free, as a perk of having grown up here. I'll also get $850/month for living allowance that's forgivable if I stay here after I graduate. My issue is the cost of living. The reason the school benefits are good (ie: forgivable) is because it is extremely expensive to live here and not many people want to live here or stay . Our total for monthly bills (mortgage, heat, power, water, internet) is roughly $3000 a month. We also have to eat, so there's that. My husband makes decent money but not enough for us to live comfortably. I'd have to take on a line of credit to afford to live. I DO have 6 months worth of expenses saved up but I will not, under any circumstances, touch that money. It's for emergencies only. So....given my situation (my school is paid for), but having to take on debt to live while I'm in school...would you do it? Being in debt gives me anxiety but I really want to be a nurse. [link] [comments]  |
| Question about the term of repayment on a FFEL student loan disbursed in 2005. Posted: 04 Apr 2021 08:11 PM PDT Through a variety of means, all legal of course, I've successfully avoided paying any actual money on my student loans for sixteen years after graduation. I've been on an IBR program for three years now, with a monthly payment of $0 on a balance of $63,000 at 2.8%. Due to circumstances beyond my control my AGI for 2020 was $58,000 and thus I most likely will not be able to remain at $0 payment after this year's IBR is renewed. I was wondering what the term (loan repayment time) would be if I simply allowed IBR to expire and went back to the "standard repayment" plan. I read that the term is usually ten (10) years, but wouldn't that have run in 2015? These loans are from 2001-2005. Or does that time I spent in forbearance, IBR, etc. toll the repayment time? Or does that ten years start from the day I go back on standard repayment? If I stayed in IBR with an AGI of $58,000 would the term remain at twenty-five years? I'm totally lost. EDIT: I remember from the paperwork I received in 2005 that my original term was for thirty (30) years. Could this be true? If so, does this mean it's been thirty years this whole time, through all the non-payment, forbearance, hardships, IBR, etc.? I did find this, https://studentaid.gov/manage-loans/repayment/plans/standard plus I just checked online and I do have an FFEL Direct Consolidation loan. Disbursal Date 7/2005, Estimated Payoff Date 10/2032. So I guess all this time of not paying anything and the thirty years just kept on ticking by? It looks pretty legit. So if I had a ten year original term, then the time would have run out already and I would have defaulted in 2015? [link] [comments]  |
| Pay down Student Loans while deferred (until9/31) or invest extra money now until loans need payment Posted: 04 Apr 2021 07:37 PM PDT I have about 20,000 in student loans and the normal monthly payment BC (before Corona) was about $300/month. I now havent paid any on them for a few months and been enjoying the extra cash to invest into the market and continue to build my dividend portfolio. My question is, due I continue using my "student loan money" each month to build portfolio (which should earn more percent each year than my 3-4% loans) or do I pay down on the loans as much as possible now while its basically free and I dont have to fight the small interest payments? Thanks [link] [comments]  |
| Default / In-Collections. Forgiveness? Negotiation? Posted: 04 Apr 2021 04:49 AM PDT Hi, I defaulted on my federal loans ages ago, and they've been given to FH Cann & Associates for collections. Do we know if any student loan forgiveness is applicable for loans that have been put into collections? Is it possible to negotiate with this kind of servicer for a lower amount? Thanks for any advice! [link] [comments]  |
| Posted: 04 Apr 2021 07:55 AM PDT Right now I'm on a 1 year plan with Sallie Mae making partial payments of around $160 per month instead of the regular $580. With Navient, I am regularly making payments of around $150/mo. I also have AES (previously MEFA) loans of around $150/mo. I'm ok with paying what I am now but I absolutely cannot afford to go back to $580/mo for Sallie Mae alone, it has plagued me for years and made life miserable. What are my options? My income isn't super high and I'm self-employed so I'm not sure another company would want to consolidate. I'm also not sure if income-based repayment is an option since I'm self-employed. [link] [comments]  |
| Posted: 04 Apr 2021 10:13 PM PDT |
| Should i not pay off my debt? everyone is driving me crazy!! Posted: 03 Apr 2021 10:26 PM PDT This is probably a stupid question that i already know the answer to but everyone around me says otherwise... am i missing something?!?!?!?!! i have $12k left on my car and right now i have enough to pay it off, leaving me with $2k. i also have $16k of student loans. obviously i dont plan of paying off my car now because i want to have at least $5k saved up for emergencies. Having debt drives me crazy!!! especially since i also want to save up for a house!! im in my late 20s. i want to buy a house by the time i hit my 30s. everyone around me keeps implanting doubt in my head about using all my money to pay off debt because i am already "well off" and i dont need to hurry to pay that off. i make $49k a year and i know i will be able to pay off my students loans within a year or 2. I think their worries is because they say im not taking care of myself, meaning that i havent bought new clothes. I am still wearing the same clothes, some clothes look a bit washed up. i only work and go home, some days ill meet up with friends/family or go to do outdoor activities. they also worry because im doing so much OT and they think i dont need all that OT, and are scared that i might crash and end up in the hospital. what they dont understand is that i love my job, therefore doing OT doesnt exhaust me. my job is not physically nor mentally draining, so doing OT is nothing! i dont care about buying new clothes because thanks to this pandemic, i cant go out to fancy places so whats the use? ( for now at least) i am a humble person..... i never care about fancy things. i spoiled myself with having food on the table and a roof over my head. once im debt free, i will gladly spoiled myself with new clothes. i would love to take vacations but having debt has made me "frugal". am i wrong? i dont think im wrong but constantly hearing the opposite is making me question my ways. [link] [comments]  |
| Timing IDR recertification for PSLF Posted: 03 Apr 2021 07:16 PM PDT The last set of taxes fedloan has is from 2018. My income has gone up every year since then. To take advantage of lowest AGI possible, I'd ideally like to submit 2019s returns - in order - to calculate payments next rather than skip a year and jump to 2020. I have not filed 2020 returns yet. My recert usually falls around tax time so it's always a little hectic. Am I able to manually recertify early with 2019 returns right now despite the CARES act suspending payments till October? Other alternative is to delay filing 2020 taxes indefinitely.. it is a significant difference as I was barely making any money previously in 2019 - and that would be the next sequential tax return... if CARES didn't exist. Actually is it possible everything's frozen in time and they will they just resume and use my even older 2018 returns where they left off (not expecting this but would be nice)? [link] [comments]  |
| Posted: 04 Apr 2021 06:24 AM PDT Has anyone ever heard of a situation where you can pay off one big chunk of your student loan and they will forgive the rest. For example I owe a little over 60K. Would there be a way I could pay like 20k at one time and the rest be forgiven automatically. I've tried to call my lender but it's like they are closed or something so I'm just asking here to see if anyone has ever heard of something like that. I love my job, but I wouldn't have became a teacher if I knew it would be like this. Lol [link] [comments]  |
| You are subscribed to email updates from /r/StudentLoans: Reddit's hub for advice, articles, and discussion about educational loans. To stop receiving these emails, you may unsubscribe now. | Email delivery powered by Google |
| Google, 1600 Amphitheatre Parkway, Mountain View, CA 94043, United States | |
No comments:
Post a Comment