Can the spouse of a parent plus loan qualify for the Public Service Loan Forgiveness if they are the one with the qualifying job? Student Loans |
- Can the spouse of a parent plus loan qualify for the Public Service Loan Forgiveness if they are the one with the qualifying job?
- Need advice. Loans for grad school
- I have a loan of about 17,500$ at 5.5 interest rate. Should I repay my education loan or invest in options offering better returns? || India
- Does a Direct Stafford Loan fall under the umbrella of a Grad Plus Loan?
- I just received a check from my student loan garnisher for what I have been paying when I didn't have to. Should I cash the check?
- taking out multiple smaller loans, or one large loan
- parent plus loans not enough? question
- FRB at 3.75%, refinancing options?
- So I would like to go the route of Federal Student loans as my next option
- Handling Your Relationship With Your Parents??
- In Grad School - Still Paying
- Fixed vs. Variable July 2021
- Life in the 3 Year Monitoring Period (TPD Discharge)
- Owing taxes/ Edibility.
- How long do Parent PLUS Loans take to be accepted/denied?
- Which to pay off first?
- Teacher Loan Forgiveness
- Paying down high interest loans first at Nelnet?
- Need advice - effectivsly paying a student loan with another student loan?
- Refinancing Question
- How to manage student loans while in school?
- Best place for private loans
- Is there a way to pay Nelnet Student Loans using a credit card?
- Stay or take loan and study abroad?
| Posted: 03 Jul 2021 12:02 PM PDT I have a parent plus loan in my dads name but my mom works for the government. I'm wondering if this qualifies us to use this option. They are married and file taxes jointly. [link] [comments]  |
| Need advice. Loans for grad school Posted: 03 Jul 2021 11:51 AM PDT I just graduated undergrad in May and will be starting grad school this fall. I was very fortunate as an undergrad student that scholarships and financial aid covered everything and I never had to take out a loan. However for grad school the only aid I've been offered is a $20,500 fed direct unsubsidized loan. The total cost of my program will be about $16,000 and I should be able to take most if not all of my courses online and finish within 2 years. I still live with my parents and they are willing to cover all my living expenses as long as I'm in school and doing well. I don't need the full loan to pay for this year, but I'm wondering if it's better to take out a loan for the full cost of my program now,($16,000) or should I take out smaller multiple loans and only take what I'll need at the time. I plan on working part time while I complete my degree and paying off my loans while still in school. I am a first generation college student and I don't really have someone in my family who has experience that I can talk to about this. Any and all advice is greatly appreciated. [link] [comments]  |
| Posted: 03 Jul 2021 10:47 AM PDT Hey! I am 25 and I am just starting to earn. I have an education loan of around 17,500 $ (13,00,000 inr) at an interest rate of 5.45%. I earn around 900$ per month. SInce I am staying at home I am saving most of it. Given the condition in India, offices doesnt seem to be reopening this year. If I pay around 350$ (25,000 inr) each month constantly for 5 years, I'll repay my loan. I was skeptical if I should put it extra money in the loan around 600-700$ now. Or should I invest the same amount 350$ as I was doing previously and invest the rest somewhere else. I was initially planning to go with the latter option thinking since my rate of interest is low I would get better returns if I invest spare money. But on the other side if I repay more amount initially I would be able to repay off my loan early by 6 or so months. And would have that extra cash in hand. I am pretty confused, any point if view is welcomed :) [link] [comments]  |
| Does a Direct Stafford Loan fall under the umbrella of a Grad Plus Loan? Posted: 03 Jul 2021 03:23 PM PDT I applied for FASFA aid and then applied for Grad Plus. I am not sure what the difference is or why I might take one aid offer over another. Can anybody shed some light? [link] [comments]  |
| Posted: 03 Jul 2021 03:20 PM PDT I received a check for 5.6k (Ish) from my wage garnishment company. I can live without cashing it, however it would be a great help towards savings. My advice question is multi-pronged.
I'm going to post this on r/legaladvice and I assume, if they exist, r/politicaladvice and r/economicsadvice (originally posted on r/studentloanadvice) additional info. The check is only valid for 80 more days. [link] [comments]  |
| taking out multiple smaller loans, or one large loan Posted: 03 Jul 2021 10:22 AM PDT Taken from my post in r/personalfinance Greetings r/personalfinance, long time lurker and first time poster. I (24/m) would like an opinion (and I will be x-posting to r/StudentLoans as well.) I apologize in advance for such a long post. To make a long story short, my dream in life is to be a physician, more specifically a pediatric neurosurgeon, although I didn't take college seriously in my first year and that tanked my GPA extremely hard, forcing me to complete a post-baccalaureate program in order to get into medical school. I was recently accepted into Case Western Reserve University School of Medicine's Masters of Science in Medical Physiology Program for Fall of 2021, and intend to complete the Program in 2 years. (Case Western is located in Cleveland, OH, for reference.) Due to the fact the program starts in 6 weeks, which does not give me a lot of time to orchestrate getting an apartment lease, getting a student loan, and moving up to Cleveland by car, should I intend to go, I would be deferring to Spring Semester (January 2022). I say Intend for two reasons, I am still waiting for other programs to notify me of admission decision, although regardless of the program, cost is the issue. Most of these programs will cost about the same, running me about 65-70k for tuition, with comparable COL area, (Winston-Salem, NC, Raleigh, NC, Norfolk, VA, Philidelphia, PA, and Newark,NJ). Coming down to it, my main question is this. Regarding Student loans for tuition, would it be better to take out a loan at the end of each semester for the next, or to take out the money all at once. I ask because I am applying to as many scholarships as I can, and my logic is that, while most scholarships cannot be applied to student loans (generally), getting them first would allow me to take a smaller loan than I would otherwise take for Tuition (about 18k a semester), and doing it this way would allow me to reduce the cost piecewise as I (hopefully) get scholarships. My parent's big concern is that this is (obviously) a lot of money, and if I were to screw up (which I don't intend to do, as I learned my lesson from the first time, and this is my last chance to make myself appealing to medical schools,) I would be on the hook for a crippling amount of debt. Regarding my finances I have at my disposal I currently have about 62k saved up, although 21k is in my Roth IRA, and I do not want to tap into that unless I absolutely have to. Should I decide to go to Case Western in January, I would be gaining an additional ~8-9k after taxes and rent, so about 70k in total. Any advice would be appreciated! Some extra notes about me, if anyone has ideas or resources regarding these. I have cerebral palsy in my legs (spastic diplegia). It is an extremely mild case, although still present. Although I am on my personal insurance atm from work, I will be back on my father's insurance when I go to school. My understanding is that, as I turn 26 after his enrollment period ends, it can carry me through 27, although I may be wrong about that. My parents will be paying for my medication while in school, as my father is on a HDHP, any my medication runs about 600 a month until the deductible is met, and they don't believe I should pay the extremely high price for something I need to function properly (ADD). In a similar vein, I have a VP shunt from hydrocephalus, and should my shunt fail and I need emergency surgery to replace it (and it would have to be replaced, as I would have a high risk of dying otherwise) , they would also cover it due to, again, should not be financially crippled due to their choice of health insurance and something failing and I have no control over the shunt failing. Other than those 2 very specific circumstances listed above, I will be on my own. This includes rent, food, groceries, gas, cost of tuition, getting materials for the apartment, toiletries, utilities, textbooks, vet visits (I have a pet hedgehog). I have my own vehicle, (or rather, my father's vehicle, although it is paid off), and it is still in excellent shape, being a 2012 equinox with about 63k miles. TL:DR: would it be better to take out loans for tuition piecewise (about 18k a semester), reducing the amount as necessary due to scholarship awards, which I would be aggressively applying to each semester, or, would it be better to take a loan all out at once. [link] [comments]  |
| parent plus loans not enough? question Posted: 03 Jul 2021 12:59 PM PDT i'm an incoming junior transfer student to uc berkeley with an efc of 39k. i'm going to be living off campus so i changed my housing option to off campus. my rent is 1,200 a month so for 10 months that's 12,000. changing to off campus though, it reduced my parent plus loan from 28k to 24k. it isn't enough to cover my tuition and fees. the federal unsubsidized loan given to me is only 7.5k. i still need about 6k to cover the 14k total tuition and fees. can i take more out of the parent plus loans? 24k is only covering housing. when my mom did the MPN, i told her to choose the maximum amount that can be given. what do i do….do i have to take out a private loan to cover the rest of tuition? [link] [comments]  |
| FRB at 3.75%, refinancing options? Posted: 03 Jul 2021 11:10 AM PDT Hi I have around $100K as a personal loan originally student loan at 3.75% with 5 years remaining. I love banking with FRB but they are not making it easy to refinance and take advantage of better rates. What other lenders should I consider refinancing with? Will Laurel Road, Education Loan Services be good options? My goal is to lower the APR and provide lore flexibility with a lower monthly minimum payment (although I plan to increase my payment… main goal is to decrease overall interest cost but increase credit flexibility with lower DTI). [link] [comments]  |
| So I would like to go the route of Federal Student loans as my next option Posted: 03 Jul 2021 07:17 AM PDT I am in my 4th year of engineering college and have exhausted to me money my grandparents had saved for my college so I want to go this route. Now FAFSA goes based off my parents income and my mom is the only one working right now but this years FAFSA goes off 2019 taxes and that would show my dad still working. We do not have that income anymore so will that be taken into account? [link] [comments]  |
| Handling Your Relationship With Your Parents?? Posted: 03 Jul 2021 01:12 PM PDT Hi! I just graduated college and I have roughly $40,000 in student loan debt. This is after cutting corners, going to a state school for a reduced rate, and obtaining several scholarships. Nonetheless, my dad just informed me a few days ago that he is taking in nearly a quarter-million dollars a year in salary. Am I allowed to be mad/angry at him for not helping me more with student loan debt? It feels conceited, but after him telling me his salary it feels as though he could've done a lot more to help me as this will likely take a decade+ to pay off. I've been really struggling with this feeling for a while now and don't know how to approach a conversation with my father about this. Also, how would you guys approach this amount of debt in order to reduce it as quickly as possible? And advice would help here, thanks. [link] [comments]  |
| Posted: 03 Jul 2021 07:08 AM PDT I will be beginning a graduate program in August. Program is completely online, and its setup is the following Our advisor will clear us to sign up for specific classes 8 weeks and three hours. I e-mailed my loan company and it is looking as though because I won't be considered full-time I'll be continuing to pay... which I won't be able to afford... [link] [comments]  |
| Posted: 03 Jul 2021 12:37 AM PDT Looking into refinancing my 350k in federal student loans now that loans will likely resume again in September. So far the best offers I have received at 1.95% fixed for 5 years vs 1.64% variable for 5 years. I know in general common thought is to take the lower variable rate if you plan to pay aggressively in 5 years or less but note sure how likely interest rates will stay this low. Should I lock in the 1.95% fixed over the 1.64% variable? [link] [comments]  |
| Life in the 3 Year Monitoring Period (TPD Discharge) Posted: 02 Jul 2021 07:30 PM PDT Hi everyone, I recently applied for and I believe I'm in the last stages of being approved for Total and Permanent Disability Discharge of my student loans. It says "pending final approval" on my page, and all my loans listed which previously held the amounts are now at zero. I called and the representative said this is a good sign. Being that I applied using a doctor certification, I will be in the 3 year monitoring period. I know the stipulations are that if you make above a certain level and/or receive any more federal loans during the 3 years, that your loan repayments would most likely be reinstated. I know that the NSLDS tracks if any more loans are taken out during this time. My question is, would I be penalized for simply enrolling and taking classes in a college/technical program, paying completely out of pocket? There are some shorter term diploma/cert programs near me that would allow me to get certain certifications that I'm interested in. I asked one of the TPD representatives this on the phone and they said that I wouldn't be penalized for simply enrolling during the monitoring period, just as long as I don't take out any more loans. However, I also called FSA and a rep said that NSLDS also tracks if you enroll in school, even if you're not taking out federal aid or completing a FAFSA, so I'm confused now and worried about this. Would anyone be able to please provide any input if you have it? I don't see why the NSLDS would track enrollment even if you don't take out loans. Also, does anyone have any thoughts about the current push to amend the TPD Discharge rules to eliminate the 3 year monitoring period for all applicants and have the loans immediately discharged, just as those who attained it by Veteran status? TLDR: Will I get penalized and have my loans reinstated for simply enrolling in/taking classes and paying out of pocket for a school during the 3 year monitoring period? [link] [comments]  |
| Posted: 03 Jul 2021 12:58 AM PDT So long story short... I owe taxes to the CRA , quite a bit. But im doing payments ,it's all arranged. I'm trying to go back to university this fall. Would I still be approved for a student federal loan? Or no? Any one eles with this issue or would know an answer? (This reffering to Canada) [link] [comments]  |
| How long do Parent PLUS Loans take to be accepted/denied? Posted: 02 Jul 2021 02:15 PM PDT Wondering if there is a specific timeline I should be expecting more information on this. My mom applied about a week and a half ago, but we still haven't been told anything. It said my mom was "approved" due to credit but she should be denied due to bankruptcy / wage garnishment, which the application didn't ask for. After she finished it, it said the school would be notified within 24 hours but we haven't heard from them yet and I even sent my financial aid advisor an email a few days ago but nothing yet. Just wondering, is this normal? I'm trying to get my extra federal loans for being denied but we haven't heard anything about it since the 22nd. I'm trying to make sure I can afford a place soon. [link] [comments]  |
| Posted: 02 Jul 2021 03:34 PM PDT Hi all, I used to owe $112K. It is currently a little under $47K. It is all Federal loans. $8,345 of my loans is at 6.5% and the rest at 6.3%. Under normal circumstances, I would target the higher rate loans first. But with all the COVID stuff, I am a little at a loss. Almost all of my loans - including the 6.5% one - are deferred until who knows when. At least September. But $22K of the loans I've been having to make payments on despite COVID relief. Is it still better to target the higher rate loan for payments or is it better to target those that are still generating interest? Technically, for the interim, the suspended loans have an interest rate of 0%. Thanks [link] [comments]  |
| Posted: 02 Jul 2021 09:03 PM PDT Hi! I've finished my 5th year teaching in a title I school and believe I qualify for forgiveness. Do I apply now, or wait until my hire date, which would be 5 calendar years? Thank you! [link] [comments]  |
| Paying down high interest loans first at Nelnet? Posted: 02 Jul 2021 03:01 PM PDT I'm being charged 6.8% on my group AA and AC loans but group AB is at 3.4%. My credit is not great, about 640 score. But if a refinancer gives me a good rate I would like to apply it to the high interst loan groups at Nelnet first. Is this possible? [link] [comments]  |
| Need advice - effectivsly paying a student loan with another student loan? Posted: 02 Jul 2021 11:46 AM PDT Before you roll your eyes at the title, I have a private loan that is around $8K at a rough interest rate. My EFC recently became 0 in my final year of undergrad, and so I am being offered more federal loans than usual. Further, I started a job after accepting these federal loans. One of the federal loans I received is $9500 for the year... with my job, I dont necessarily need it. Is it a bad idea to be thinking about taking that loan anyway, and just using the money I earn from my job to pay off the private loan? If I took the $9500 federal, all the money from my job would go into my pocket (instead of to tuition) and I could pay the private loan. I could also decline the loan but I feel like it may be better to effectively swap these...? Thanks for any opinions [link] [comments]  |
| Posted: 02 Jul 2021 12:20 PM PDT I refinanced the loan I had with Sallie Mae to Earnest because it cut my interest in half. When I told Earnest how much my loan was they paid it to Sallie Mae 15 days after my application. Sallie Mae is saying i still owe them money because of the interest in between the time I told Earnest how much money I owe and the time they recieved the money. Is there anyway around this? [link] [comments]  |
| How to manage student loans while in school? Posted: 02 Jul 2021 01:37 PM PDT Hey gang. So i have 3 semesters until graduation. The good news is: I've secured funding for all 3 of them without needing to take out a loan! But...I still have 76k in private student loans left. Wont really go into the backstory but i really had a horrible time mentally and only this past year have I managed to crawl out of it. I've lost a lot of scholarships since freshman year and I've gotten most of them back. My loan interest rates are already very low...i think the highest is like 3.5%, my cosigner has basically perfect credit which i'm very grateful for. But, I dont think i can argue for a refinance. I have a minor job at school that pays all my rent and the rest going to taxes, but i have literally no spare money with all my expenses paid (that's no bother to me since i literally get or do nothing for myself, but, i have no extra cash to chip away at what I have now). The only thing I'll have is (hopefully) an internship over the summer, but it's no guarantee to happen (I'm an engineering major, 98% of internships are paid) and obviously it wouldn't cover everything. I have a little bit of spare time between everything but just not enough to really get a side hustle or something unless it was from home. TL;DR the rest of my schooling is fully covered financially so i dont have to take anymore loans out, but i want to use this opportunity to still chip away the amount i have left. I know i'll have a high paying job once I graduate, but, i still want that loan amount as low as possible once i am done. [link] [comments]  |
| Posted: 02 Jul 2021 06:34 PM PDT I unfortunately need to take out a private loan in order to pay for excess cost and would like to know what some good options are. I was going to go with college Ave but haven't decided yet. [link] [comments]  |
| Is there a way to pay Nelnet Student Loans using a credit card? Posted: 02 Jul 2021 06:29 PM PDT |
| Stay or take loan and study abroad? Posted: 02 Jul 2021 05:50 PM PDT I'm a 19M from Trinidad and Tobago. I'm doing a BSc Accounting, which is fully paid for by the government, then I'll finish ACCA while I work (I'll get some exemptions because of my degree. ACCA is an accounting body) I'm one year into university (it takes 3 years to finish a degree here) and plan on taking another semester. My uncle (He lives in the Caribbean, he's kinda well off and doesn't have any kids) offered for me to go university in Canada. He'll loan me the money. I'm also taking into consideration England if I can transfer some credits to an England university, also in England the degree takes 3 years. Now I'm faced with 2 main decisions; Should I finish my studies (degree and ACCA) and then move out? I'd essentially be debt free Or should I leave? Taking longer to graduate university + graduating with CAD $60,000 in student debt, but with better job opportunities and a chance to stay in the country? I'm in the process of seeing whether I can transfer my credits to England, if any of you know whether I can do that please let me know. If yes, it would take me more or less the same CAD 60,000 but I'd graduate sooner. I really want to leave Trinidad because of a lack of opportunities, but it's also heavy to move to a next country and start another degree from scratch and end up with student debt. If I don't leave now, I don't really see myself leaving in the next 5 years, and I've heard it's much more difficult to move to another country as a worker than it is to do it as a student. Please, any advice would aid me in my decision making. Thank you so much in advance [link] [comments]  |
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