My disabled/retired dad is still paying off 30yo med school loans Student Loans |
- My disabled/retired dad is still paying off 30yo med school loans
- [U.S] Warning: SkyWay Financial Group
- Advice for convincing parents to hold off on paying the parent plus loans until September? I am expected to pay them back.
- Go to Grad School? Or Take the Money and Run?
- I'm(21/M) new to student loans and have some questions
- Extra federal loan
- Leave of absence due to maternity leave and federal student loans?
- deferring PLUS loans while doing masters abroad?
- [Special Circumstances] Loan Question...
- What are you doing to generate extra cash to help pay off your student debt?
- Making a SAP Appeal for the Third time. Scared that this third appeal won't get accepted.
- International Student Loan
- Earnest - loan details not available?
- 25k student loan ASAP.
- Advice for anyone with student loans on how to pay them faster or how to get student loan scholarships?
- PANIC MODE
| My disabled/retired dad is still paying off 30yo med school loans Posted: 09 May 2021 04:05 PM PDT My dad worked as a psychiatrist for the VA. He lost his job around 2006 and eventually qualified retroactively for disability for previously undiagnosed ADD. I found out today that he's still paying off student loans—he consolidated his med school debt with debt from my undergrad, which he was also paying for part of. He graduated from med school in 1986. He says that because of his ADD, he's been incapable of navigating any process to find out if he can stop paying the loans. I'd like to try to help him, mostly because it frustrates me that he's throwing $300 a month at this and still has ~$17K left. He's not working now and he consolidated the loans. He also worked in the public sector and is disabled. I don't really have more detail yet beyond what I've written, but I could follow up with him to get more information. In my admittedly brief research, what I found made it sound like since he consolidated the loans, anything he's done in the past wouldn't matter, and he either wouldn't qualify for forgiveness because he's not still working, or he'd have to re-structure the loans and the clock on 10 years of timely payments would only start now. Does that sound accurate, or might there be any special dispensations for his situation? [link] [comments]  |
| [U.S] Warning: SkyWay Financial Group Posted: 09 May 2021 07:41 AM PDT They are a scam, they will call you, they will tell you that they are affiliated with the Department of Education and are tasked with helping students with debt access the benefits of the CARE act and Student Loan Forgiveness. Fortunately, I had a family member send a lawyer my way free of charge, but these guys are relentless. I know not many will be that fortunate and most lawyers will charge a pretty penny for what will amount to them simply scary them off with their letter head. They also overwhelm all review systems (google, yelp, etc) with fake reviews everywhere (if you look now you would think they are the greatest company in the world with the sheer amount of positive reviews they receive, but look closer to find the real reviews by distressed students who were ensnared by them) and when that fails they shut down and rise again under a new name. Just be wary of them EDIT: If you really want to see how insidious they are watch them gaslight people in their responses on Better Business Bureau [link] [comments]  |
| Posted: 09 May 2021 07:35 PM PDT A bit of background:
To my surprise, they have decided they want to pay off all of the $33k in loans, and are expecting me to pay them back in one of these 2 ways: 1. Pay them a fixed rate of $350/month for the next 4.5 years (totals out to $18k that I pay, and they'd absorb the remaining $15k) 2. I give them a lump sum of $13k now, and they absorb the remaining $20k - this is both our preferred option. I have been saving up with the intention to pay a lump sum on those loans right before the forbearance ends, assuming Biden doesn't come through and forgive some of those loans. I briefly tried to convince my dad to hold off until then, because there's a (very small) chance we see some of that loan forgiven and both he and I end up paying less. In his mind, that's not going to happen (called it a 'pipe dream'), and raised a fuss at the mere thought of waiting just a few more months. They are financially fine and are not planning on buying anything new in the near future, so having this debt there for a couple more months really isn't hurting them especially given the funds to pay it off are just a click away. Seemingly the only reason he won't agree is because he's impatient and just wants to clear his name of debt. I get that, but they have an insanely high credit score and have always been great at paying off debt, so it's not like this has been a lifelong 'issue' of theirs and they're finally seeing the light at the end of the tunnel. He didn't give me the chance to explain that by paying him the 13k upfront, I'm putting myself in a position of only having maybe 1 month of emergency expenses available. In his mind though, this is 'doing the responsible thing, and stepping out of my 'comfort zone' to do what needs to be done'. I work in entertainment, where layoffs aren't uncommon and turnover is high, so by waiting until the end of August, it allows me to build a larger safety net whilst giving us both time to wait and see what the outcome of any potential forgiveness may be. How do I convince them to wait? Without getting political here, is there any Republican Financial Advisor advice or sites I can share with them when I inevitably draft an email explaining my situation? I specify Republican because politics is inherently part of my request to wait, and any time I mention Biden, it never goes well… they're Trump supporters. Any and all advice is recommended TLDR; My parents are paying off the PP Loans (33k) that I agreed to pay before I went to college in 2010. They're also agreeing to absorb a portion of that 33k, leaving me to either pay them a smaller lump sum upfront (13k), or a fixed rate totaling a higher sum (18k) over 4.5 years. They have great credit and no other debt, with no intention of buying anything big/new in the near future, but are eager to pay them NOW to clear their name of debt as they've just sold their house and have the means to do so. They don't believe forgiveness will happen and don't want to wait. I won't be in a position to accept the better option (upfront 13k) until August, and I do not want anymore monthly payments, so the 18k option is not really an option in my mind. How can I convince them to wait, and that the money sitting in the bank for 3-4 more months is essentially the same as having them paid off? [link] [comments]  |
| Go to Grad School? Or Take the Money and Run? Posted: 09 May 2021 09:28 PM PDT Hi all, I am a first-gen college student and will be graduating next year with my B.S. in Economics and Political Science (emphases in International Politics/Globalization, minor in Global Citizenship and certificate in International Relations) with no debt/student loans. I have paid for my tuition through scholarships, grants, and by working four part-time jobs. I also have about $14k in a college fund that my mom and grandma left for me (that I haven't had to touch), and I have about $12k in savings. My question is: should I get my M.S. in International Affairs and Global Enterprise that would take two years and would cost $22k+ by paying for it with my college fund/savings (it is possible I could get a graduate assistant position that would cover full tuition) and run the risk of needing to take out student loans? Or should I keep my money and get a job (and possibly use that money toward buying a house)? (Note: my mom and grandma have passed away and I am on my own now (since 2018), so doing my master's would mean I would be living very poorly for an additional two years.) [link] [comments]  |
| I'm(21/M) new to student loans and have some questions Posted: 09 May 2021 06:57 PM PDT So, for the last 3 years I've been paying for Community College out of pocket as a CS/Mathematics double major, while living at home and working about 30 hours a week. It's really starting to destroy my sanity and I can't really take it anymore(abusive family that really doesn't care if I have to study or sleep some nights). Would it be possible to use Student Loans to help pay for a place to live and schooling for the remaining 2 years, while I work say 20 hours a week? I make enough to where I would only need an extra $200(at most) a month for living expenses, but I would also need classes fully covered. I don't mean to sound naive, but I really don't know anything about loans for my situation. I was thinking about going to my credit union this week and I don't want to sound way out of my league asking for assistance, I guess. Thank you! [link] [comments]  |
| Posted: 09 May 2021 11:45 PM PDT If I take out an extra federal student loan will my parents be notified in any way? [link] [comments]  |
| Leave of absence due to maternity leave and federal student loans? Posted: 09 May 2021 08:33 AM PDT The state I am considering taking a job in a state that offers the standard 3 months of FMLA. This job permits an unpaid leave of absence for up to a year. My SO is a significantly higher earner than me, so we currently file separately on PAYE with the intent of receiving PSLF. However, since the leave of absence won't count towards PSLF (but the FMLA portion will), would I be approved for forbearance through FedLoan during that time? Or would we need to continue to file separately and have to request my payments decreased while I am not working and take the tax hit? How long does it take to process for these sort of circumstances? Thanks. [link] [comments]  |
| deferring PLUS loans while doing masters abroad? Posted: 09 May 2021 09:04 PM PDT Simple question but can't seem to find an easy answer for this. Is it possible to defer your undergrad PLUS loans while pursuing a full-time masters abroad? In the case that the deferment is not possible, can you technically pay the minimum amount by switching to an IBR/ICR plan, as your AGI would assumingly be pretty low as a student? [link] [comments]  |
| [Special Circumstances] Loan Question... Posted: 09 May 2021 09:46 AM PDT So Im in NH and I have lived away from home since I was 16. A kind person (completely unrelated) allowed me to stay in a room at their house. During HS I worked 5 days a week alongside school to pay for all my stuff. I ended up getting a homeless liason letter from my school which qualified me for a 8k loans I believe and a Pell grant. The Pell grant will cover my tuition for the first two years of community college (Computer Science), but after that I plan on going to UNH to finish my degree with Engineering. The only problem is that the loans, if I divided my loans throughout each month every year I'd only have around $666 per month. That's not enough. Mainly because the situation I'm in is definitely not going to last much longer, and if I'm working full time; I cant study Computer Science, let alone Engineering afterwards. Luckily UNH has granite state guarantee so I may be able to attend for free / nearly free. But my highschool grades were terrible due to me having to work so much and literally supporting myself in every aspect besides the room and utilities. I'm wondering if it would be possible to get student loans that would fully support my living during college. Private loans yes. But like $20,000 to $30,000 per year to rent an apartment with, buy food and everything else that I need every year. This is pretty much my only option, not sure if that's possible. I have no family so that's out of the picture. Really hoping there's some option. [link] [comments]  |
| What are you doing to generate extra cash to help pay off your student debt? Posted: 09 May 2021 10:14 AM PDT This is a general discussion question. My progress repaying my federal student debt is somewhat slow. I'm 30, I have $39,000 of federal student debt, I make about $55,000 a year, and I live in a very high cost of living area. I use YNAB and I've been keeping my spending very low for the past year to try to repay debts faster. I'm already living in a group house with 4 other people, which keeps my rent+utilities to $1,070 a month (low for my area), and I have an extremely part time second job that brings in about $300 a month. I really want to try and pay down my remaining debt as quickly as possible so I can move on to actually doing things that I want to do in life, like buying a home, traveling, etc, and I've been brainstorming any ways that I can make some additional side income to dedicate towards debt repayment. This is a general discussion thread of curiosity, but what have you been doing to help pay down your debt faster? Have you moved to a lower cost of living area, or back in with your parents? Did you get a second job, or a third? If so, what have you been doing for side work? Are there any other special strategies that you've been using? [link] [comments]  |
| Making a SAP Appeal for the Third time. Scared that this third appeal won't get accepted. Posted: 09 May 2021 07:26 PM PDT I'm 20 years old, I'm currently in community college and I'm currently going through the semester. I'm not doing well all my classes as I am behind in all of them and at the same time, I've also been dealing with depression and anxiety that it's been really hard for me to focus in class, or even find motivation to get assignments done. I've been contemplating dropping all my classes because I have a gut feeling I won't get higher than a D in my classes and I don't want my grades to further drop my GPA, but I'm scared that if I drop all my classes and then make a SAP appeal, it won't be a good look for me. My GPA currently stands at 0.735. I've made two appeals prior to this one that I will have to make because regardless of what happens, I won't have a 2.0 GPA which is required to continue receiving financial aid. I have been feeling really anxious about whether or not my appeal will be accepted because I've already made two appeals. The first one was just me simply wanting to come back and better myself for college, the second appeal was because I ended up getting all D's in my semester and I dropped my Winter classes because my Dad passed away towards the end of the semester and I decided to drop my two Winter classes. Those two appeals got accepted, but with this third appeal, I've been having so much anxiety thinking that this appeal won't be accepted because I feel that I haven't made any progress after the first two appeals made. Personally, I want to just drop all my classes, focus on my mental health and come back, learning from my previous mistakes so I can have a clear mindset going into the Fall semester, but I'm scared that if I drop all my classes, it's not going to look good when I make that SAP appeal. I don't know what to do. Any advice or suggestions would be appreciated. [link] [comments]  |
| Posted: 09 May 2021 01:27 PM PDT I am an international student admitted to US University . I applied for a loan from Prodigy and MPOWER. After I sent my application Prodigy asked for additional documents in 2 weeks. I've sent them and nearly 4 weeks has passed and I don't have any answer yet. The same concerns MPOWER. I have difficulties contacting them, because they are answering pretty late. What is a normal amount of waiting process and what do you think I should do. P. S. Are there any paid services to find US cosigners for student loans? [link] [comments]  |
| Earnest - loan details not available? Posted: 09 May 2021 01:11 PM PDT I occasionally log-in to Earnest to check my variable rate to see where it's at. I can't seem to access my loan details via the website the way I usually have in the past. Is something broken or am I doing something wrong? I'm logged-in, see the loan overview info (balance, upcoming payment, etc.) but I can't drill down to the details. Anyone else having issues? Today is a Sunday, but I'm not getting any site maintenance messages or anything. I also tried my phone browser with the same result. [link] [comments]  |
| Posted: 09 May 2021 03:44 PM PDT I am in a little bit of a conundrum and if someone could point me in the right direction I would be very happy. 2020 was the worst year of my life. I went to college at the American University of Armenia and the authorities there illegally extorted me and subsequently my parents out of a lot of money. I aged very quickly and have legit insomnia now. Long story short 2 years have past and I am now 20. Thank the Lord I am heading back to New York soon. Unfortunately, however, my parents are ultra-conservative anti-vax control freaks and they are forcing me to cohabitate with them and go to community college under the pretext that I need to work and pay them back. However, I need to be independent, get a real degree, and take a break from unbearable people. I have indeed added to their debt load and I am obligated to pay them back. To re-build my life I need a 25k long-term low-interest student loan that I can use to give to my parents Asap. I am currently applying to a wide range of colleges in the northeast. Brooklyn cuny looks promising due to its 3k yearly tuition cost. I am currently in the process of securing a job that can pay me a salary of 3k to 5k tops in a month depending on my hours. Please direct me to where I could promptly qualify for such a loan. I assume student loans have more desirable qualities than conventional ones. I don't know if I should seek federal or private loans. I don't know which institutions to approach for the most desirable deal. Someone, please provide me direction. Thank you in advance. [link] [comments]  |
| Posted: 09 May 2021 06:10 AM PDT I'm in the pslf program and I'm very thankful about that. I just would like to pay my loans faster if possible. I make 65k a year with 99k in student loans. I work part time as well to make extra month so my salary could increase...I also try to flip stuff and I am working on starting a consulting business... [link] [comments]  |
| Posted: 09 May 2021 12:35 AM PDT My mom and i accidentally applied for the Plus loan instead of the Parent Plus Loan (we didn't know there was two kinds), will it affect us? My mom and I are panicking because we accidentally applied twice for the Plus Loan..., is there a way to decline it, and switch to just Parent Plus Loan? Another thing, my school doesn't offer that plus loan... does that mean it gets automatically denied? [link] [comments]  |
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