2 medical residents, 1 no debt, other has lots of debt, Need some help. Student Loans |
- 2 medical residents, 1 no debt, other has lots of debt, Need some help.
- Weird Loan Situation
- First Time Refinancing Student Loans
- Private lender offered me really low interest rate (under 4%). Should I sign the paper?
- General Public Service Loan Forgiveness Question for Parent PLUS loan
- Confused about loans
- Get car before student loans?
- Taking out a mortgage to pay off my student loans
- 2 IBR qs on past stupidity and current forethought
| 2 medical residents, 1 no debt, other has lots of debt, Need some help. Posted: 04 Jul 2021 08:20 AM PDT Hi there, My gf and I are both medical residents, I'm in emergency medicine making $64,000 and she is internal medicine making $58,000, I have $287,000 in student debt, and she has $0. I'm working at a non profit, PSLF qualified hospital, so I applied for PSLF via forms provided by my hospital. My question is, should I do PAYE or REPAYE, as I plan to get engaged within the next year and married not to long after that? I know PAYE, I can do married filed separately, but wanted to ask around first. Also, should I consolidate all my loans, or only those that have lower interest rates? And finally, I will more than likely not qualify for PSLF once I am out of residency, because most ER's are staffed by private companies for profit ( so even if the hospital is 503c non profit, it wont count as 503 c eligible), so what do I do after residency? Sorry, I have minimal knowledge regarding any of this stuff... [link] [comments]  |
| Posted: 04 Jul 2021 10:45 PM PDT Hi, I started college during the "Covid year" which made it really weird experience many things happened which I would like to ask what I can do about it. The main thing is that during the first year I attended they charged for in-state, and now a year later even though nothing has changed they are charging me out of state even though my application is the same. and if they charge me out of state I can't continue and would have to stop college but I already picked up loans the previous semesters expecting the previous tuition. Another case is that some courses were promised to be hybrid and that included some of the courses I was taking but when the time for the course came we had 1 class in person and the rest online. I was wondering if any of these could help with trying to get borrowers' defense. all my loans are direct loans don't know if these helps. [link] [comments]  |
| First Time Refinancing Student Loans Posted: 04 Jul 2021 09:22 PM PDT Hey everyone, I'll be graduating anesthesia school in October, and I'll be $145k in federal loan debt. Assuming the 0% interest rate will end in September, what is a good refinance company to get and at what interest rate? My income will be 150K gross and 115K net. Credit score is 730. Fixed interest rate is preferred. No other debts. Single dude renting an apartment. TIA [link] [comments]  |
| Private lender offered me really low interest rate (under 4%). Should I sign the paper? Posted: 04 Jul 2021 11:24 AM PDT Title. I'm a rising freshman and have zero experience in getting or managing student loan. I'm thinking of medical school and declared biology as my major. Looking at the interest rate that's lower than Unsubsidized FAFSA loan, I'm thinking private over FAFSA lender. What's your take on this? Do private lenders allow deferment of loan during grad/medical school? [link] [comments]  |
| General Public Service Loan Forgiveness Question for Parent PLUS loan Posted: 04 Jul 2021 08:21 AM PDT Hi all, To keep it simple my mom has been taking out Parent PLUS loans for my sister and I to get through college and has well over 90K in Parent PLUS loans. She has also been working in local government in my hometown for almost 30 years now and she's planning on retiring soon. So my question is, since my mom has been working in public service area for my hometown local government, would she apply for this forgiveness? And if she does, would she has to say around 10 years and pay every month to get the Parent PLUS loans written off/forgiven? Or since she has been working for over 30 years that might help her get the loans forgiven? I'm still trying to figure all of this out after just graduating last year and any help or insight would be great. Also, happy 4th of July to those who celebrate it! Thank you [link] [comments]  |
| Posted: 04 Jul 2021 12:05 PM PDT I'm kind of illiterate when it comes to this but basically I'm getting around 24k in awards/grants and such which I don't have to pay back (right?) and then roughly 11.5k total in loans. I wait until I finish my degree to start paying the ~46k in loans I gather from my bachelors right? Sorry if this comes off as stupid but I'm starting my first year in two months and am trying to figure everything out on my own and am very confused. I just need some reasurance that I'm in good standing and can handle this, it is a BSN so I don't think repaying the debt will be too difficult. Thank you in advance and sorry if I'm getting any information wrong, I have no grasp on anything financial aid related but I'm learning. [link] [comments]  |
| Posted: 04 Jul 2021 03:27 PM PDT I'll try to keep this short and sweet. I will be applying for student loans in August with a cosigner. As of right now, I have never had a student loan and neither has my cosigner. My cosigner, mom, has a great car but has considered getting a newer car. Seeing that her DTI will be increased once I apply for and receive my first student loan, would it be advisable to go ahead and get that newer car now? I have no doubts or worries about getting the student loan whether she has a newer car or not, I realize that student loan lenders tend to give loans out like candy while car loan lenders do not. For reference, she has a 2015 4Runner with 100k miles and would be getting a 2019 GX with 30k miles. With this newer car, she would save $200/mo which she would redirect towards helping pay for college and reduce my loans. [link] [comments]  |
| Taking out a mortgage to pay off my student loans Posted: 04 Jul 2021 10:27 AM PDT To give you some background, I have an MBA in business with a concentration in finance, but need an outside perspective for validation/ warning me of any dangers I do not see. I have around 300k in student loans from 5 law school loans that have an interest rate between 5.3 and 7.2. At minimum, the loan payment per month with the student loans to hit principle would need to be above $1,500 (18k a year). I am doing the income based payment plan. However, the end result of the income based payment plan makes you pay a load more for the life of the loan (for me that's around 200k). I came up with an idea, and when I talked to the loan advisors at GreatLakes about it, he did not know how to deal with the idea/ address the potential alternative to not being screwed as hard by the student loan system. My parents recently sold their house and paid off their retirement home with the proceeds in full. I suggested, because I would eventually inherit the home, that they take out a mortgage on the home to pay off my student loans in full. I would then pay of the new mortgage/ get assigned the mortgage payment obligation. The mortgage interest rate (3.5% or lower) would be significantly lower than the student loan's rate. The monthly payment on the mortgage would be $2000 for 15 years. The difference in the overall interest premium for the life of the loan would be close to saving $200,000. Other than the collateral liability that my parents face in the potentiality of default and foreclosure, (which won't happen) does anyone see any holes/issues/problems or negative implications from my idea? [link] [comments]  |
| 2 IBR qs on past stupidity and current forethought Posted: 04 Jul 2021 09:16 AM PDT I am on IBR for 6 figure grad school loans. Been on IBR for 7 years now. My questions are two-fold: 1) When I first went on IBR, I didn't know I had to do recertification every year. I didn't recertify on time year one and got hit with a steep penalty & did a month or two of forbearance until I got it recertified again. My principal loan amount shot up considerably. Is there any recourse for this now, years later? 2) I'm not moving from IBR, but it seems as though my income will increase somewhat considerably over the years but not sure that it'll be enough to pay off my loans completely within the next 13 years the program runs it's course. The biggest reason of which is that my interest rates are stupid high (average 7.5). My income, for various reasons, has been fairly low till now and I had outstanding private undergrad loans that are now paid off so I haven't really been able to pay more than their IBR minimum. I've done several refinance calculations and basically, at the amount I owe now (about 340K), it's looking like, even if I refinance, it'll take me about 15 years to repay. Does it make more sense to continue to pay whatever minimum IBR program sets for me, finish out the program, and get forgiveness for remainder instead of trying to refinance and pay it off within/before 15 years (if I can)? It seems if I refinance, I will end up paying more for no reason without the prospect of getting rid of them much, if at all, quicker. [link] [comments]  |
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