Got depressed about how much I owe, so I'm turning it into a game Student Loans |
- Got depressed about how much I owe, so I'm turning it into a game
- Curious in what order you'd recommend tackling 135k in debt?
- How to get some free Crypto: I made over $200 on DutchyCorp in nearly 5 months
- Unsure of what happened with a student loan
- Private student loan debt crisis
- I have so many questions about loan repayment... help
- Need some advice about a large Parents Loan
- Should I refinance federal loans?
- Rehabilitation or pay in full?
- Alliance loan scam?
- Just got a rate match from SoFi
- Who offers good Private Loans
- FedLoan PSLF is a damn TRAP
- Teacher Loan Forgiveness and PSLF
- Student Loans w Low Income
- Private Loan Refi- Citizens Bank
- Has anyone used the request loan payoff during forbearance?
- Tip: If your job offers a student loan repayment benefit, call the servicer of the benefit to see if you could control what loan the benefit will apply to.
- Hypothetical: What if everyone bought stock in the publicly traded companies that own their debt?
- Grad Plus Loan and credit report.
| Got depressed about how much I owe, so I'm turning it into a game Posted: 02 Jun 2021 08:07 PM PDT Thought I'd share in case this helps anyone else who's bummed about how much further they have to go. I have $93k, an absurd amount despite numerous scholarships, opportunities, and discounts (10 years of college/grad school adds up). To any who aren't yet in my position, please make sure if you have to take a break from college 3/4 of the way through that the classes will transfer... school is expensive enough as an older student without essentially having to do a BA twice over. I was depressed lately because I'm dreading the interest rate return in September and it feels like I'm going to be paying this forever. So I decided to make a visual tracker and gamify it, like others have suggested. https://draradech.github.io/jigsaw/jigsaw.html This is a puzzle generator - you can choose how big the puzzle is, how many pieces, etc. and decide how much each piece is worth. I made a 20X20 piece puzzle with each piece equal to $250 (gotta allow for some interest). Every time I pay $250 on a loan, highest interest rate first, I color a piece in. If I do multiple chunks, I leave them all the same color, so I can see easily big amounts I've managed to shove in there. If I color in $1,000 worth, I get a book or a game I've been wanting. If I color in $5,000, I get something a little nicer. Once I finish, I'm going to save for a month long trip back to where I used to live in Japan, to stay with friends. I didn't think this would honestly help as much as it has... seeing visually that I've already made progress is really reassuring. $5,000 down so far this year, and a bunch more to go, but it feels less horrendous than it did 24 hours ago. Hope this helps somebody else in a rough place mentally. Hang in there friend, we're all there with you, believe me. [link] [comments]  |
| Curious in what order you'd recommend tackling 135k in debt? Posted: 02 Jun 2021 02:16 PM PDT Hello, Coming here for advice, not for judgment. I have $135k in federal student loan debt between college & graduate school. I have no regrets about my degrees, and I have the money to pay this debt off in a reasonable amount of time (6-7 years). I'm curious in what order you personally would advise paying each loan off. They are all serviced by Great Lakes and while they're lumped into two buckets (Stafford & Grad PLUS), I can call and make payments to specific loans at a time. I have listed each loan below in order of the date of the loan, the type, current amount owed and interest rate. My gut just says take out the high interest ones first, but not sure if there's any benefit to knocking out the super tiny loans and minimizing the total number of loans first. Any and all advice is really appreciated.
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| How to get some free Crypto: I made over $200 on DutchyCorp in nearly 5 months Posted: 03 Jun 2021 03:10 AM PDT Earnings would be way over $260 if the Crypto Market wouldn't had a 30% drop... First of all: I spent less than 30min per day on this page and was watching Netflix with it. Here is my full proof of all my earnings and payouts: https://imgur.com/a/IpkT5qa DutchyCorp let's you do tasks and surveys where you get awarded Dutchy Coins. With these coins you are able to let a Faucet running and get paid in about 50 coins. Payouts to your Coinbase Account are without fees. [link] [comments]  |
| Unsure of what happened with a student loan Posted: 02 Jun 2021 09:09 PM PDT So I was in a grad program as of spring 2021 however due to financial constraints I chose to withdraw. I was able to catch the deadline to request a refund for my classes. Part of my aid was a loan from Dept. of Education and the rest of it came out of pocket. Initially, I was told that I would only be getting back what I paid out of pocket, leaving me to assume that the loan used to cover the rest of my tuition would be cancelled. I got an email from my school yesterday stating that a refund was being initiated for the amount of the loan that was disbursed. I logged into my FedLoan Servicing account and the loan in that amount is no longer on the account. From my understanding I thought the loan would just cancel and I wasn't expecting a refund of that loan so now I'm confused as to what I should do with this refund? Any help would be greatly appreciated. Edit: I looked further into detail and the loan in question is still on my account but it states it has been "Paid in Full" [link] [comments]  |
| Private student loan debt crisis Posted: 02 Jun 2021 08:47 PM PDT I'll try to keep this as short as possible while also including all the necessary details, this is my first post on reddit. I've been increasingly stressed about this and feel like I'm at a tipping point so I'm reaching out for help. I took out private student loans through Discover for 2 years and had to drop out with 32k of debt. Between the various rates I got, the interest rates on these loans was typically between 9-13%. As it currently stands I'm paying about $400 a month with a minimum payment at about $365, and it's that getting extremely hard to keep up with. The minimum is so high but I really need to be able to pay even more so I can get this debt taken care of as fast as possible. Sadly that's not realistic as my dad wants me out in the next few months, and with that comes even more bills to keep up with, making it even harder to pay my loans. I've looked into refinancing but thus far I've been turned away on account of the fact that I didn't finish my degree (16 courses left), and my credit score isn't good enough. I'm not 100% what to ask but any advice on how to deal with these absurdly high interest rate loans would be appreciated. I feel trapped, I don't want to be paying for this mistake into my 40s. [link] [comments]  |
| I have so many questions about loan repayment... help Posted: 02 Jun 2021 11:24 PM PDT Hi, I just graduated with a Bachelor's in December 2020 but I'm still enrolled in my university as a non-degree seeking student for the purpose of finishing up a certificate. Did my 6 month grace period for my federal subsidized student loan repayment already begin since December 2020 (meaning the 6 month grace period would be over I guess), or is it deferred until the certificate is completed? Also, are there anything COVID-related that further deferred the loan repayments? Also, I was in my Bachelor's program for a while, around 6 years. I had switched majors twice, so I did not start my degree program that I graduated with until my Junior year in University and I also had a medical withdrawal in the middle of it. I'm wondering if any of this affects my aid repayment. My final question is, if I'm admitted into a graduate program, would that defer my student loan repayments without interest? [link] [comments]  |
| Need some advice about a large Parents Loan Posted: 02 Jun 2021 11:20 PM PDT Disclaimer: before University, my parents taught me nothing about money. My dad is apparently terrible with money. & throughout Uni, always assured my mom & I that he was taking care of everything, which is why I didn't know about a lot of these things til now. When I was in University, I took out 3 types of loans: Federal Student Loans, a small Private loan, and a Federal Parents Loan (with my dad). My dad is terrible with money & had no idea what he was doing when he was doing the student loan applications with me. When I graduated, I started to pay off my Federal Student loans, my dad said he would start paying for the Parents loans. A year & a half out, he didn't realize nor told me, I had a private loan too. That's when I took charge of my student loans myself, taught myself to budget, & have been taking care of those myself. The problem is the Parents Loan, which is about $130K+. Last year, my dad admitted (because he was caught) that he was having an affair. He was giving almost all of his paycheck to a 20-something, leaving me (recentish grad at my first job) to pay for bills at home, groceries, and helping my brother pay for college. I recently moved out, & before I did, my dad was trying to guilt trip me into paying for the entire Parents Loan too. I went over the math with him because I knew he took out the most amount each semester, & whenever the refund would arrive, he would take it & say he was going to use it to pay back the loans. Never happened. I think the money went to family trips (or maybe to his sugar baby who knows). The math equates to be only ~45% used for my education, and the rest for who knows what. He refused to believe that he owed that much, that it was all my education, but I had to bring up every term bill to get him to admit that I did not owe it all. I want to help pay for what I owe (~45%) because it's the right thing to do, but right now, I can't trust him with money. If I give any money to him, I don't know where it'll go. If I send money to the Parents Loan, he'll start expecting me to pay for it all. Any & all advice would be helpful. TLDR; Have about $130K+ in Parents Loan that my dad took out. Only ~45% was actually used for my education. I want to pay for that portion, but don't trust my dad to actually pay it back because he's a terrible person. [link] [comments]  |
| Should I refinance federal loans? Posted: 02 Jun 2021 06:00 AM PDT Hey everyone, I'm new to this sub but I graduated in November with a whopping $83k in student debt. I'm refinancing my loans for a better rate since I have about $53k in private Sallie Mae loans with an outrageous rate. I was going to go ahead and refinance all of my loans to consolidate them, but I'm starting to rethink it because then I don't get all of the perks federal loans come with, especially not having to pay until September instead of July like my private loans. What did you guys do? I'm a first generation here and I'm just totally lost. Any advice y'all could give me would be very appreciated! Thanks! [link] [comments]  |
| Rehabilitation or pay in full? Posted: 02 Jun 2021 06:57 PM PDT So my current loans are from 2016 and are defaulted. I have never paid them..... I owe a total around $5k and could pay this in full. Paying in full was my intention until I learned about the rehabilitation program that would remove the loans from my credit history as defaulted. I really just want to repair my credit score which is floating around 580-600. What should I do? [link] [comments]  |
| Posted: 02 Jun 2021 10:41 PM PDT I was given a call back in 2019 by a service member of Alliance student loan support. I had paid the installments I agreed to and I haven't heard from the guy ever again. I thought it was due to COVID ( the last installment was close to when the COVID bills went through and student loans were put on hold). Now that the grace periods are coming to an end, I'm worried I'm going to have a massive problem on my hands. Has anyone else dealt with them before? How should I go about this so that I'm not screwed later on? [link] [comments]  |
| Just got a rate match from SoFi Posted: 02 Jun 2021 12:44 PM PDT I started out initially with average interest rate of 7.45% between fed and private student loans, with approximately $85k balance right before refinancing (started with ~$98,400 -- foolishness). First refi, got it down to 4.639% fixed, which left me ecstatic. Less than a year later, refi'ed again and got a variable rate, which was 3.06% when I finally signed all paperwork. It is now at 2.97% (due to decreasing 1-month LIBOR rate), but the variable nature of the interest rate has left me anxious. Less than a year into my second refi'ed loan, I started getting quotes again last week. Remaining balance is $69k. Here are the results I got:
All refi'ed rates include autopay discount of 0.25%. So in case you weren't sure about trying to get a rate match with SoFi, here's another positive experience! Rather than matching the lowest offered rate, SoFi beat it. [link] [comments]  |
| Posted: 02 Jun 2021 05:23 PM PDT this is my first ever Reddit post so spare me if I'm doing terrible. Basically, I just graduated HS; FASFA barely gave me help because my parents make enough to help (80k a year together). Although my moms a angel and WANTS to help; overall, I can't depend on her. I need to take out about 24k out to cover tuition/dorm and book fees, etc. salliemae rejected her because (many years ago) she had a bankruptcy but supposedly doesn't make enough to co-sign for that much (she makes about 40-45k) a year alone. I'm so stressed. I don't know where to turn or go to for help. I cant find any financial help in grants/scholarships for the upcoming year. I'd appreciate any responses :,) [link] [comments]  |
| Posted: 02 Jun 2021 08:28 PM PDT Why in the world is FedLoan Servicing so awful on all things PSLF?! Every time I submit a document I have a pit in my stomach because I assume that FedLoan will screw up in some way and that I'll have to deal with multiple phone calls and emails just to convince them to fix their own error. In the past, I've had to write to their ombudsman and ultimately the general student aid ombudsman (when that was still a thing within CFPB...RIP ðŸ˜) to FINALLY, after a year of fighting, get my damn qualifying payment months calculated correctly. Then, I tell myself - nah, they used to suck when PSLF first started, but now they're used to it and everything will be fine. But ya know what - it's never fine, they are genuinely incapable of not screwing up. Today, then sent me a letter saying that they would only count 2 months within my last employer certification as being PSLF eligible, although the cert covered 17 months. I've been with the same employer since 2016 and submit recerts every year....why did FedLoan randomly decide that my employment from Jan 2020 through March 2021 does not qualify, but then somehow decide that April and May 2021...IN THE SAME CERTIFICATION...do qualify (not to mention all the months they found to be qualifying between 2016 and 2020 in past certs from the same employer). I know I'm unhelpfully raging to the ether here but goddamn this system is built to put so many obstacles on the road to forgiveness that it is ultimately not worth it for the borrower. If I had known that THIS is what I was in store for 7 years ago when I chose the public service paycut over a private soul sucking gig, I would've just settled for the soul sucking until my loans were paid off - like girl BYE soul, Im good without you for a bit! As it is, IBR hasn't even covered my principal balance since I graduated, so I'm in waaaay more debt now than when I graduated. For what it's worth (literally nothing I am an idiot) my advice to new grads is - PSLF is a damn trap, if you wanna do public interest make the switch from the private sector once you've made enough to be debt free. The 10 years of low pay paired with a loan servicer that seems to actively work to block you from earned forgiveness is not worth it!! [link] [comments]  |
| Teacher Loan Forgiveness and PSLF Posted: 02 Jun 2021 03:52 PM PDT I'm trying to figure out if I can do TLF for my time as a teacher and then do PSLF starting the time after that. I was told that I can't qualify for both by my loan services, but from what I'm reading, I should. I just want to have the best information before just letting the TLF go as it would lower my payments for PSLF. [link] [comments]  |
| Posted: 02 Jun 2021 09:25 AM PDT Hello I posted here about a month ago however I have a few questions. In my previous post I explained my situation so I'll give a generalization of it here. Basically I have a student loan balance of around $4,000 from one semester of college in 2017. I wasn't aware of this until recently as I dropped out at the end of the semester, and fast forward to now the bill has been sent to a law office in the same state as the college I attended. I've been emailing back and forth with a debt collector trying to work out some type of payment plan, however I'm not in the best financial situation. I explained this to them, and the fact that embarrassingly enough $20 a month is all I can really afford for the time being. The debt collector responded by saying that $25 a month is the absolute lowest they can do and that it would only be temporary. Otherwise they would pull my file, I'd get charged more fees, and go through with garnishing my wages. Again, unfortunately the $5 a month does make a difference right now for me. I just don't understand why it would be treated the same as if I just ignored all of this, if I'm actively making an effort to pay the maximum I can for now? I've asked this however at this point the debt collector stopped responding to me about a couple of weeks ago just leaving me with a link of where to start making payments. I plan on calling the law office to speak to someone over to phone, however I'm just wondering, is there a minimum to what you can pay toward your student loans if you're in a tight financial spot? Thank you in advance for any responses. [link] [comments]  |
| Private Loan Refi- Citizens Bank Posted: 02 Jun 2021 07:01 PM PDT Will try to keep this as condensed as possible, and will add info as asked. So: Got initial approval for Citizens Bank Refi. $98k to pay off. Have NOT officially signed off on anything. Income is 45k, will be 55k in 8 months. I have $1000 a month to put towards loans and still comfortably pay other bills, and I have no debt besides student loans. There is potential that in 2023 I may end up being at 65-68k income, which would require a job change that I am DEFINITELY for, as long as something comes available. If that happens, I may have the ability to grow that income to 80k-90k depending on the promotion scale. If it doesn't happen, my income floor is 60k, and the max is 70k. My federal loans are on PSLF, IBR, so i'm not concerned about them at all, as I am not leaving the federal goverment. Loans are currently with Navient and Sallie: 3 loans with Sallie @ $25k and the avg rate is 8%. Currently on interest only. 6 loans with Navient @ $72k and avg rate is 9%. Currently on extended payment plan. Citizens would give me 5.49 fixed or 5.24 variable. I would save almost $300 a month, which I would continue to pay on the new Citizens loan to pay it faster. The question is simple: Should I go fixed or variable, and how long should I wait to do another refinance? Or should I wait on THIS refinance until I get the pay increase to 55k? Any personal experiences with Citizens Bank. Thank you everyone! [link] [comments]  |
| Has anyone used the request loan payoff during forbearance? Posted: 02 Jun 2021 10:20 AM PDT Has anyone utilized the request loan payoff and make a payoff payment during forbearance? I'm wondering, now this might be a silly question, whether it would include the unpaid interest on the specific loan you select or just the principal balance. I've never utilized this tool before [link] [comments]  |
| Posted: 02 Jun 2021 12:04 AM PDT Don't make the the same assumption I did. I assumed the benefit would apply to my highest interest loan. Reality: Instead of applying the benefit to only my highest interest rate loan. The program spread it among three of my current six loans (yes, one of them being the highest interest rate one.) Furthermore, all three loans were the subsidized type. Granted, the subsidized part would not have mattered in my case as I am well beyond the grace period and currently in the 0% interest period provided by the COVID relief bill. [link] [comments]  |
| Hypothetical: What if everyone bought stock in the publicly traded companies that own their debt? Posted: 02 Jun 2021 03:08 AM PDT To elaborate, I've had this crazy thought for a bit and I hope it sparks an interesting conversation. Hear me out on this highly unlikely hypothetical situation: What if everyone reallocated their student loan payments for a few months to buy stock in the publicly traded companies who own their debt? Could those new shareholders form an LLC and commit a hostile takeover of student loan providers since they would hypothetically own the majority share of the companies? Therefore, wouldn't that allow the new majority shareholders to dictate the handling of their loans? I know it would never happen, I'm just curious as to whether it's actually possible. [link] [comments]  |
| Grad Plus Loan and credit report. Posted: 02 Jun 2021 02:55 AM PDT Hey y'all. I need a co-signer for a grad plus loan. My parents and a friend are considering it. Will the loan show up as debt on their credit reports? [link] [comments]  |
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