Starting the payoff journey! Student Loans |
- Starting the payoff journey!
- is it possible to graduate with no student loan debt?
- No clue how to afford my federal student loans!
- Fafsa Application
- Friend's Federal student loan in default was paid off instead of rehabilitated. How long will it take for credit score to go up?
- Unsure if I should attempt to pay off my loans or do PSLF!
- Question about Fairstone
- What are my options? Success rate of TPD discharge?
- Best loan options
- Should I consolidate 3 loans from the same servicer (OSLA) or is it not worth it? 60K in debt, just graduated from a BSN/MSN combo program, just accepted a job offer. More info in post.
- Loan Crisis - not really, but really
- Previously Denied Borrower's Defense
- Taking out a loan for expenses besides tuition during medical school
- What happens if you don’t make SAP for private student loans? I do not know how I will pay for school at this point.
- Private student loan interest rates based on?
- I accepted my loan offers already but want to accept more, is it too late?
- Advice for a high school senior entering out of state college?
| Posted: 18 Jun 2021 09:53 AM PDT This is a hype post. My wife and I just graduated undergrad. She's now a full time nurse (56k/yr) and I am an aerospace engineering grad student (28k/yr). We have $52,000 total loans. 32k under myself and 20k for her. We are paying hers off first (20k in 4.5 years) since mine are deferred until grad school is finished. Then, we are paying mine once I optimally make upwards of 90-95k/yr. Starting today! Any advice about refinancing, prepayments, etc? I want to look back at this post in 5 years and see what's happened! Thanks for all of y'all's insight. Edit: we also HAD to buy a car so we have that financed, but, we did so allocating the loan payoff first. [link] [comments]  |
| is it possible to graduate with no student loan debt? Posted: 19 Jun 2021 02:23 AM PDT im not going back to school yet, maybe in a year or two, but I just wanna know if its possible to not have any debt. I know my girlfriend is because she's actually been smart about her schooling and I wasn't (first gen to finish hs and get a college degree, had virtually no assistance bc no one in my family could help and ive never had a good experience with a counselor) i went to a community college for two years and got an associates degree while receiving fasfa money. i got a substantial amount due to my parents making like , $12k a year basically. my degree was basically free and i kinda got paid to go to school. i planned on transferring to a 4 year after i got my associates but right after they rolled out all my acceptances, covid hit. I also realized that the amount i could get in loans wouldnt be enough to cover school costs for some reason??? again, i had basically no assistance so i probably just didnt know all my options. so i decided theres no point in going to a 4 year like i dreamed about since i was a kid because id be sitting at home taking the classes online and paying an insane amount of money for the exact same school environment i could have for free. so i attempted getting a second associates and dropped out that semester because the financial aid officr was messing around and basically told me i wasnt "meeting satisfactory academic progress" bc id taken (and completed) too many classes. on top of classes for my degree, i took up some dance classes because i thought they were fun, they were free, and ive always wanted to dance as a kid but never had the money to. i never thought itd be a problem bc i still maintained a 3.5 gpa throughout both years. the worst grade i ever got was a C and i only got like 2 of them, in two entire years. but apparently thats not allowed and i think im cut off from fasfa for taking too many classes not related to my degree. tbh, i had no direction. i went to college bc its what everyone was telling me i NEEDED to do but i should have waited until i knew for absolute certain what i wanted in life. I really want to be a history professor!!!! but i dont wanna be 50 and still thousands of dollars in student debt and miserable and hating my life. as of right now i have zero debt and i want to keep it that way forever if possible. what are my options? im moving to a different state than i grew up in. should i try the 2 yrs of community then transfer to a 4 year type route again?? the school im looking at has certain scholarships for that but dont say for how much [link] [comments]  |
| No clue how to afford my federal student loans! Posted: 18 Jun 2021 04:03 PM PDT I got my monthly payment recalculated for the Revised Pay As You Earn plan and it is the highest it has ever been at almost $1,000 a month. My checks biweekly are like $1,400. My husband makes more money than me but my loans are not his responsibly. I also pay for private student loans, we have a child so money is going to childcare, as well as a mortgage and one car payment. We also have some credit card debt that we have been working on getting down. I just don't know how to afford this. My payment has never been this high and I have no clue if i am eligible for any other payment plan. Does anyone know what else I can do???? [link] [comments]  |
| Posted: 19 Jun 2021 12:29 AM PDT Hello! My spouse started a journey of applying into Nursing school. He is a greencard holder, 24yrs of age, and the Nursing degree will be his second BS. He obtained his first BS outside of the US. My question is, can he still qualify for Fafsa? Does us being married together will hurt his chances of being approved for an aid? Im a nurse myself, will this disqualify my spouse for the aid? [link] [comments]  |
| Posted: 18 Jun 2021 11:21 PM PDT I told a friend of mine to set up a payment plan so he could rehabilitate his student loans instead he paid it off. How badly is this going to affect his credit score? Is there anything he can do to remedy the situation? [link] [comments]  |
| Unsure if I should attempt to pay off my loans or do PSLF! Posted: 18 Jun 2021 11:26 AM PDT Hello, I currently have a balance of 130,000. I recently landed a job within a government agency and my salary is 90,000 pre-tax. My partner has a salary of 63,000 pre-tax and has offered to help in paying down the loans. I am unsure if I want to throw all our extra income in paying off the loans (assuming it will take 6-7 years anyway?) or if I should apply to PSLF and hope it is forgiven in 10 years. Asking for those who may have been in a similar situation / wanting to see what others opinions are. My only hesitation in throwing all our money in right now is we have plans of a small wedding and potential home buying within the next couple years and I am unsure if we would afford it. [link] [comments]  |
| Posted: 18 Jun 2021 10:32 PM PDT So I've done some research (just a bit) on where to get a loan to pay off debts (student loan included) and one company/organization that kept coming back was Fairstone. Has anyone here dealt with them before? If so how was the overall experience? Anything helps! p.s. I'm in Canada! [link] [comments]  |
| What are my options? Success rate of TPD discharge? Posted: 18 Jun 2021 09:27 PM PDT 23F. Got rear ended by a drunk driver and suffered injuries that ended in me getting short term disability from my job as I'm no longer able to work for them in my current state. Looking at long term disability now. I owe only like 13k in loans and am currently in school. Options? Thanks. [link] [comments]  |
| Posted: 18 Jun 2021 04:19 PM PDT Hi! I'm starting physician assistant school this fall in a very high COL area and my unsubsidized federal loan amount covers less than half of tuition for next year. My most likely next step would be to apply for the gradPLUS loan but it has a high origination fee of 4.228% on top of the 5.3% fixed interest for some reason this year.. and I would only get enough for cost of attendance and no help with living expenses which will be significant. Through a private lender I was able to get a fixed deferred repayment rate of 6.188% for the whole year. I'm wondering which I should go for since I have always been told that federal was always the better option but i would be getting a better rate with private since I have good credit and a cosigner.. really not sure which one to go with any help is appreciated!! thanks [link] [comments]  |
| Posted: 18 Jun 2021 03:35 PM PDT Hi r/StudentLoans I've been lurking here and love how supportive everyone is of each other. Decided to ask a question I have. I have 60K unsubsidized loans through OSLA. I'm trying to decide if I should consolidate or if it's not worth it. Should I consolidate? Why would I or wouldn't I consolidate? Also, is it a good idea to pay a lower monthly payment in the beginning while I'm establishing myself in the job and career? I've done a little research and can't decide what to do. My first payments are due in Dec-Jan. I don't want to do anything that would jeopardize my ability to take advantage of student loan forgiveness policy that may or may not be in the pipeline. Also I'm wondering if I'll even be included as a combo undergrad/graduate student since I was getting a Bachelor's/Master's at the same time…? I tend to be financially responsible and have some money in stocks and some in crypto, nether of which I want to touch at all. Any and all advice about anything related is welcome. Let me know if you need more info. Thanks. [link] [comments]  |
| Loan Crisis - not really, but really Posted: 18 Jun 2021 06:21 AM PDT As I'm sure y'all are aware, Wells Fargo has transferred student loans to FirstMark Services. Whilst with WF I had 4 loans, paid one off, and all my loans qualified for SCRA benefits. These benefits capped my interest at a fixed APR of 5.75%. However, my active duty co-signer was only on 1 of the 4 loans (the rest have a different co-signer). WF had agreed to honor SCRA benefits until March 2023, which FMS was able to systematically confirm 4/21/21. As of 4/10/2021 WF transferred my 3 remaining loans to FMS. Much to my dismay, FMS has revoked my SRCA benefits, as of 6/14/21, on 2 loans and transferred me to a variable interest rate of 7.49% - increasing my payment $37 a month. FMS also required me to upload documentation of WF honoring their interest rate, which I did - I have provided hard proof of everything stated above. Still FMS will not allow me to continue using the SCRA benefits I had with WF. What peeves me the absolute most is that I have a financial plan to pay these loans off by the end of next year. So this is terrible timing. I have fully paid back Sallie Mae, this month, and was already planning to tackle these WF/FMS loans beginning July, next month. This would have my loans paid off before my SCRA benefits expired. Needless to say, this process of constant phone calls/emails is giving me major PTSD of being fresh out of college, unemployed, and crying on the phone attempting to find accommodations with my private student loans servicers to reduce my monthly payment. I've been stricken and absolutely sick to my stomach over it all. However I am older, wiser, and financially secure. I have a 780 credit score and make 76k a year. This WF transfer is a huge problem for me. My only solution is to refinance and I have never refinanced before, fresh out of college I was declined. I have made a budget through the end of next year. 3 loans with FMS and my new interest rate will cost me about $300 total in additional interest (over 1.5 years) The loans will be paid off December '21, June '22, and November '22, subsequently reducing my monthly payment at each pay off. If I refinance, I have been quoted a fixed 3.5% interest rate - pending approval, even better than FMS SCRA benefits. My 3 loans would become 1 loan and be a lower monthly payment, only through December (again because one loan would be paid off by then). Any opinions are welcomed, I am absolutely leaving FMS once approved. It kills me how atrocious they have treated me this week, I do not want to give them one more penny. Is this the right move? Refinancing? I don't think I need to provide any other information about my actual monthly payments vs expenses. I have been spot on with my budget for 3 years and have this final hurdle to tackle. Thanks in advance y'all. [link] [comments]  |
| Previously Denied Borrower's Defense Posted: 18 Jun 2021 10:37 AM PDT I applied for Borrower's Defense back in 2018 for my loans with DeVry (2011-13), but didn't get a response till early 2020 when it was marked as closed with no explanation given as to why. Granted this was during the DeVos era, so I'm wondering if there any been any changes and if I should reapply for it? [link] [comments]  |
| Taking out a loan for expenses besides tuition during medical school Posted: 18 Jun 2021 03:11 PM PDT Hello Reddit. I am in a unique position and could use some advice. I will be attending medical school soon on a full tuition scholarship + a $10,000 loan each year with the school. However, that loan will not fully cover rent (off-campus), buying a car, or other living expenses. I have some savings and a little help from my parents but I have been considering borrowing money. Are there any good options for student loans that will not go toward tuition or on-campus housing? [link] [comments]  |
| Posted: 18 Jun 2021 07:13 AM PDT I'm really stuck with this. I'm graduating Fall 2021 (was supposed to be Fall 2020) and my school thinks I'm not making SAP because I'm not graduating within the time frame they want. In Florida, you have to graduate in 160 TOTAL credits or under when combined with any AP/IB/AICE/duel enrollment credits. I'm right at 150 and will graduate with 160 on the dot. I have a 3.7 GPA and I have passed 75% of classes attempted, so those issues are not holding me back. I used up all of my bright futures and prepaid since they only last for 120 college credits and I hit 117 college credits Summer 2020. However, all of my aid was taken away from me since my school does not believe I am making SAP, even though I am. I already had to take a semester off in Fall 2020 (I had 144 TOTAL credits) when this was thrown at me and I did not have thousands of dollars to pay out of pocket. I cannot even get federal student loans to go into debt and pay for the last of my schooling. I have applied for discover, but a requirement they have is meeting SAP. They don't define this clearly and I don't know if it is based off their own idea of SAP or my school's idea. I have tried to appeal this several times. First in Fall 2020 when it occurred, Spring 2021 when I tried to go back, and for this upcoming Fall 2021. I cannot be approved since 7/10 credits are for a graduate program path and not my major. I tried literally every loophole, not even my grandma dying from covid was considered a valid reason for approval… I have since taken one class in Spring 2021 and one this Summer 2021, since I cannot outright pay thousands of dollars to finish everything at once. My family is very low income and I was on Pell Grants (which were taken as well…). I was only able to pay these since I "upgraded" my part time job to a full time job while I was out in Fall 2020. Even in spring and summer I could still work the full time hours since I only took 3 credits each semester. To apply for my graduate program I have to have 7/10 credits I am taking in fall completed before December (application deadline). I really don't want to push this off another year when I already intended to enroll in the program this Summer 2021 and that has been pushed to Summer 2022 now. I have been approved for $15,000. They just have to check with my school to see if I do qualify and if the amount is truly the amount I need. Do you think I will get further approval for the loan once they speak to my university? If not, what are other options that don't require SAP? What are other good private loans that may not necessarily be student loans? I have good credit (721) and I can definitely get approved for non-student loans. I just don't want to have to deal with significantly higher interest rates, another credit check inquiry, minimal grace periods, or few decent payback options that are feasible for a 22 year old college student. Also I apologize if I did not use this platform correctly! I just now made this account for this since I cannot find any straight answers online or from my school and I am so desperate after this year long fight. [link] [comments]  |
| Private student loan interest rates based on? Posted: 18 Jun 2021 05:25 AM PDT Is it based on federal fund rate or 10 yr treasury yield? [link] [comments]  |
| I accepted my loan offers already but want to accept more, is it too late? Posted: 18 Jun 2021 04:53 AM PDT I accepted my loans already and decided to borrow as little as possible but will need more to cover the cost. Is it too late to change this? [link] [comments]  |
| Advice for a high school senior entering out of state college? Posted: 17 Jun 2021 11:55 PM PDT My tuition is about 30 grand a year and idk how to do loans. Anyone have advice for me? Also, another question, if I only need 30 grand for college, can I borrow 40 grand and use the other 10 for other stuff and pay it back later? [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