Finally below 100K!!! Student Loans |
- Finally below 100K!!!
- Permanent no interest a better solution?
- Made My Third To Last Payment on My Last Student Loans Today!
- PSLF and federal and state taxes
- Covid-19 Admin Forbearance is a scam
- SoFi is marketing a "snooze" option on payments to match the CARES Act pause
- What happened to the DeVos hearing? I read somewhere it was supposed to be today.
- Have you received the student loan?
- Invest or Payoff Debt?
- No co-signer
- Graduation and paying off loans.
- Reviews on Funding U?
- Experience with redisclosing/reamortizing/recasting?
- Student Loan Grace Period didn’t reset
- Should I Settle Federal Student Loans?
- Student loans
- Can anyone check my logic on early payments during CARES/Grace period?
- Can Co-Signer Refinance Private Loans?
- I can’t find my loan information when I sign into Sallie Mae ?
- Paid off private student loan and Fico score dropped
| Posted: 03 Jun 2021 12:52 PM PDT Don't know who to celebrate this with besides my wife, so I figured I'd share it here.Just this month, got my loans down to 96,000 on my last payment. Finished medical residency 3 years ago and Loans peaked at 357,000 in February 2019. I was able to refinance and make aggressive payment since then. I've been throwing everything I've got at the loans in the past couple years. I know I have a bigger shovel than most, but this feels really good to get it down to five digits, finally feels like some breathing room And hopefully will be free soon! [link] [comments]  |
| Permanent no interest a better solution? Posted: 03 Jun 2021 09:54 AM PDT With all this talk about student loan forgiveness, which I have been following closely, I can't help but wonder why no politician is suggesting getting rid of interest rates on federal student loans. This seems much more bipartisan than student loan forgiveness, and in the long run I think it would do everyone much more good than $10K of forgiveness. No interest plus the existing extended/income-based repayment would allow young people to prioritize saving, starting a family, and buying a house and low income earners wouldn't be suffocated by the mountains of accruing interest that you see with IBR. I think less people would go into default if their payments were manageable and meaningful. People would still pay what they borrowed, so there is still incentive to not go buckwild on spring break and to try to be frugal in school, which I would think more conservative parties could get behind. I know other countries such as Switzerland do this with success. I'm just wondering what other people's thoughts are on this or if maybe there is some flaw that I am not thinking about [link] [comments]  |
| Made My Third To Last Payment on My Last Student Loans Today! Posted: 03 Jun 2021 03:11 PM PDT I had saved up nearly $3000 for car repairs as I thought that would be what was needed given what a mobile mechanic told my mom and me when he looked at my car. It turns out the car only needed about $500 of work, and I just got it back running better than ever! So, I saved some of the money and put the remaining sizable chunk towards my student loans today. I've been saving $200 for the last payment for many months now, which is the only reason I say that this is my third to last payment. All I have left is $1300 which I should be able to pay off either this month or early next month! Either way, I will be able to pay them off before the Zero Interest is up, and I'm so thankful for that. Only - technically - $1100 left to go! (As a side note, I can't wait to see what this recent payment does for my credit score when it hits). Original balance when I graduated May 2019: ~$22,000 [link] [comments]  |
| PSLF and federal and state taxes Posted: 03 Jun 2021 06:19 PM PDT Based on everything I've heard, student loans forgiven through PSLF are not taxable by the federal government. But what about state taxes? For example, if someone lives in Virginia or New York and their loans are forgiven through PSLF in 2022, the federal government won't tax them on the forgiven debt, but will they be subject to state income taxes on the debt that was forgiven? Also, does anyone know where the stipulation that loans forgiven via PSLF are not taxable can be found in the law? [link] [comments]  |
| Covid-19 Admin Forbearance is a scam Posted: 04 Jun 2021 12:08 AM PDT Anyone else feel that the COVID-19 Administrative Forbearance is a total freaking scam? Any interest accrued on your loans prior to March 2020 will capitalize after the Admin Forbearance ends. Don't believe me? Call your loan servicer. Basically just an excuse for loan providers to be able to capitalize interest for everyone's loans. Sure, no interest accrued during this forbearance, but when you exit you'll be in a worse spot than before. Jokes on us. This is insane. In my opinion this is a total crisis. For example, my graduate and undergrad loans have (on average) a 6.8% interest rate. Accumulated interest right now is easily at least $10,000+. Prior to the Admin Forbearance, this would just stay as interest added. Now it's going to become part of my principal balance??? So I'll be accruing interest ON my previous interest. WTF kind of relief is this?? [link] [comments]  |
| SoFi is marketing a "snooze" option on payments to match the CARES Act pause Posted: 03 Jun 2021 11:46 AM PDT Just got the following marketing email from SoFi: Lock in a great rate today for when the CARES Act benefits expire. By hitting snooze, you can: Lock in your low rate today. Our fixed rates for refinancing student loans are at historical lows. Keep the best part of your federal loan. 0% interest until September 20, 2021. Rest easy. The snooze option ensures no payments until October. So finish your student loan refi application, hit snooze on your payments, and chill until October. I'm not in the market for refinancing (see my previous post, I secured a new rate back in March). But this is an interesting move! [link] [comments]  |
| What happened to the DeVos hearing? I read somewhere it was supposed to be today. Posted: 03 Jun 2021 02:28 PM PDT Does anyone have any updates to this? I put it in my calendar because an article somewhere said it was today, but I haven't seen anything. Is there any new news? [link] [comments]  |
| Have you received the student loan? Posted: 03 Jun 2021 08:21 PM PDT My Alberta Student Loan was scheduled to be released on May 1, but I haven't received anything yet. My loan was approved and I was not asked for any more information or document. It only says Payment Pending on the status. Is there anyone else having the same problem? [link] [comments]  |
| Posted: 03 Jun 2021 04:22 PM PDT Hi guys, So basically, I'm wondering, what should I do? I'm planning on keeping at least $6k in savings for my emergency 6 months of rent + food. That leaves $17k to either pay off a fat chunk of my private loans, or do some serious investing. Or both? Repayment for federal loans will kick back in again in September, which I'm keeping in mind. I want to keep my loan interest down and make genuine progress at paying off my loans, but this is also the most money I've ever had in my bank account in my life, and I don't want to throw it at debt if it can grow it more through investing. My parents are horrible with money and broke, and I want to do everything in my power to avoid the life that they live, so I'm coming to reddit to tap into this community's wealth of knowledge for advice. Thanks friends! [link] [comments]  |
| Posted: 03 Jun 2021 04:03 PM PDT I'm going into my second year of college. I paid for my first year using financial aid and money I saved up. I was in foster care for a period of time in my teen years so I'm eligible for the Pell Grant. I also received several local scholarships for essays I wrote. However, my savings have dried up and I did not receive any more scholarships this time around. I don't have any parents to get a parent plus loan and there isn't anyone in my life that can be a co-signer. How can I receive student loans? [link] [comments]  |
| Graduation and paying off loans. Posted: 03 Jun 2021 06:00 PM PDT This is my first Reddit post ever and I just graduated in May from Gallaudet University (federally associated college we get assistance from the government ) with a BA in Deaf studies. Gallaudet is surprisingly affordable for a 4 year college. I used Sallie Mae, Nelnet, and FAFSA for loans and I'm about 50k in debt. I'm wondering what the best way of repayment. Another question: when would be the best time to refinance on private loans?? Is refinancing a good option in the first place?? I'm just a little lost of how to start repayment. [link] [comments]  |
| Posted: 03 Jun 2021 05:12 PM PDT Hey all, Still having a lot of trouble getting the last bit of money I need for college and I'm looking to take out a loan for it. Been denied by all lenders even with my excellent credit rating. I'm looking into Funding U, as I do not have a co-signer. I'm not aware of any personal reviews on this lender, there's nothing but professional reviews on them online, which is good, but I was wondering if anyone in this sub has experience with them. I meet their requirements as far as I know with their 70% graduation rate and 3.0 GPA for sophomores, but has anyone been through the full application process? How hard is it to get approved? This is pretty much my last option here. [link] [comments]  |
| Experience with redisclosing/reamortizing/recasting? Posted: 03 Jun 2021 04:48 PM PDT Looking to reamortize my student loans after the 0% period is over. Anyone had success with this with their servicer? Current plan is to immediately pay down until avg. interest rate is ~3% across all federal loans. Have zero interest in paying off early, only care about rock-bottom payments, and also have no desire to have any other payment plan except standard repayment. Therefore, pursuing this reamortization makes the most sense. Refinancing is a possibility but my loan balance would be low enough that it doesn't seem worth it at that point, as well as losing federal loan protections, and I would also like to keep my AAoA older for credit purposes. [link] [comments]  |
| Student Loan Grace Period didn’t reset Posted: 03 Jun 2021 12:34 PM PDT After doing terribly in classes Fall 2020, I decided to take a semester off. The way my school uses funds for Summer classes, is they consider a school year and the summer after as a full year. I am currently in Summer classes that count towards my degree plan (and over half-time enrollment), but instead of resetting my grace period, which started on December 12, 2020, the disbursed loans were just new loans that are due in 3 years. So now I have loans due on the 11th of this month when I damn well shouldn't. I've tried contacting the Student Aid website and my servicer (Navient) to no avail. What can I do about this? I don't have the money at the moment to start paying my loans when I have to pay rent, and I am getting a car soon. [link] [comments]  |
| Should I Settle Federal Student Loans? Posted: 03 Jun 2021 02:06 PM PDT Summary
My current plan is sit on rehabilitation until October 2021 and then pay it all off. I do have the ability to pay it all off which should also remove the default from my history, but as far as I know, nothing removes the negative payment history until the 7.5year mark falls off my report. Would it be possible to settle to save myself the collection fees while getting the student loan default off (same outcome as rehabilitation but not needing to pay fees)? [link] [comments]  |
| Posted: 03 Jun 2021 02:01 PM PDT I will be starting a masters in Speech Language Pathology in a couple of months.. My legal status keeps me from filing for FAFSA.. I have good credit but my debt to income ratio keeps me from getting private loans. I already reached out to my school and they only gave me 2k in grants.. I'm not sure how to pay for tuition. Any advice? [link] [comments]  |
| Can anyone check my logic on early payments during CARES/Grace period? Posted: 03 Jun 2021 09:59 AM PDT Loans Details:
Under the CARES Act, my student loans are receiving a 0% interest rate until 9/30/21. My deferment/grace period ends around the end of this year which is when the accrued interest will capitalize.
[link] [comments]  |
| Can Co-Signer Refinance Private Loans? Posted: 03 Jun 2021 12:13 PM PDT So, my friend became disabled and is on SSDI - only income. He still has over 8 years on his loans. With interest rates being low, wondering if refinancing would be a good idea. The thing is, aren't interests rates affected by income? His is limited, but his cosigner (family member who he lives with) actually makes decent money. Hence the question, can the cosigner refinance the loans? [link] [comments]  |
| I can’t find my loan information when I sign into Sallie Mae ? Posted: 03 Jun 2021 08:03 AM PDT Ive been in debt for a while so I assume this means I was sent to collections. But I was never sent a letter. Is it because collections are on hold because of covid? I was trying to figure out the date of my last payment, but my info is no longer on Sallie maes website. [link] [comments]  |
| Paid off private student loan and Fico score dropped Posted: 03 Jun 2021 05:21 AM PDT I had 50k private loan through Navient. I paid off private student loan of 50k last month. I paid it off early. When I check my fico score, it dropped by 30 points. I still have 50k in federal loan Why did my fico score drop by 30 points this month? [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