Realizing I will accrue $36,000~ in student debt from rent alone. How do I cope? (CAD) Student Loans |
- Realizing I will accrue $36,000~ in student debt from rent alone. How do I cope? (CAD)
- Nelnet sent me a statement today, i thought covid forbearance was in effect till end of sept?
- Advice Needed About Grace Period and Covid
- What do you wish you knew about loans before you took them out?
- Capitalization and the Avalanche during covid
- Need help with loans (parent plus vs. private, something else?)
- uc tuition/unsub loans question
- variable 8.750 vs fixed 10.50? which one would be best for me?
- Refinance with citizens bank?
- I'm filing FAFSA and im trying to link my IRS and every-time I try to logic with my username/pass to link to IRS it says its incorrect even though it works when I login to FAFSA, anyone know a solution?
- Should I take a loan
- How to Make Student Loan Payments While You’re Still in School? Thanks!
- Is the FAFSA deadline today for 2021-2022 school year?
- Housing withdraw
- Refinancing SM through Earnest
- How does capitalized interest work on unsubsidized loans while in school?
- Myfedloan
- Questions about student loans
- How do I get extra payments applied to the principal?
- Choosing not to consolidate - Different payment plan per loan?
- Completed entrance counseling by mistake
| Realizing I will accrue $36,000~ in student debt from rent alone. How do I cope? (CAD) Posted: 30 Jun 2021 09:10 AM PDT I have one year left to my 5 year bachelors degree before I start my next 2-year degree (nursing). I have to move out of my parent's place this summer, so for the next three years I will have to live on my own and pay rent ($1000~ a month in my city). Even though I will be working for the next three years, I won't be able to work enough hours to cover my rent (mostly just food and bills). I can use my student loans to pay for rent; however, after totalling up how much this will cost me in the end, I feel sick to my stomach. I'll finish school with over $60,000 in loans. My starting wage will be around $70,000~, so I know I'll be able to pay this off. I'm just terrified to think about how even after I graduate, I'll spend the next two or three years still barely getting by as I pay off my loans. I just feel really uneasy and anxious about this. I'm not sure how to cope with knowing I will have THIS much debt in my future… I think I'm looking for advice or maybe words of encouragement. Will life really be miserable for me as I pay off my student loans? [link] [comments]  |
| Nelnet sent me a statement today, i thought covid forbearance was in effect till end of sept? Posted: 30 Jun 2021 12:59 PM PDT Sorry if im uninformed about everything happening. I recently got an email from Nelnet, my student loan servicer, about making a payment this july but i thought everyone was on forbearance till the end of september? I should mention i have both sub and unsub govt loans. Thanks [link] [comments]  |
| Advice Needed About Grace Period and Covid Posted: 30 Jun 2021 04:00 PM PDT Hi, I'm a recent college graduate. I graduated in May 2021. Currently my Subsidized and Unsubsidized student loans have no interest. I am confused about how I should go about paying the loans off. I would like to pay for at least one loan during my grace period. I know that because of covid there is a 0% interest rate and that will end October 1st, but my grace period will end in November. So, should I prioritize paying off the highest unsubsidized loans by September 1st or November? Also, do I need to call my loan servicer to be able to pay a certain amount toward a single loan vs the money being split to all of the loans? Thank you. [link] [comments]  |
| What do you wish you knew about loans before you took them out? Posted: 30 Jun 2021 08:20 PM PDT Title. Hi all. I'm an incoming first year at a public university. I'm most likely gonna graduate with $28,000 in student loans (All Public Unsub). Therefore, I wanted to ask for any advice. Thanks for reading :) [link] [comments]  |
| Capitalization and the Avalanche during covid Posted: 01 Jul 2021 12:51 AM PDT So I currently have four loans in deferment. I have been prioritizing one loan which has the highest interest rate. I have knocked it down to about half the original principle. So it shouldn't have any interest to capitalize on during this deferment. My question is: Is it more mathematically sound to pay off the uncapitalized interest on my other loans before the covid deferment ends and then get to my highest interest loan or continue with the vanilla avalanche loan repayment method and only pay my highest interest loan? I know it's not difficult mathematically but the way the loans end up working out in the real world can make things that seem like simple math incorrect, for example tax considerations. [link] [comments]  |
| Need help with loans (parent plus vs. private, something else?) Posted: 30 Jun 2021 09:36 AM PDT Hi all, tuition at my school for the year is 40,000 dollars. I was approved for 1400 in grants and federal loans only cap at 7500 so I need to finance the remaining 31,000 or so dollars. I have two years left of school so I'm going to have to be taking out a total of 60,000 dollars give or take (minus the federal loans). I was wondering what would be the best option to do this. I plan to pay off almost the entirety of my debt the first year I'm working. [link] [comments]  |
| uc tuition/unsub loans question Posted: 01 Jul 2021 12:06 AM PDT i'm going to uc berkeley this fall after transferring from a community college. my efc is high (38k) so all i got was a fed. unsubsidized loan for 7,500 and parent plus loans. i accepted that 7,500, but the portal says tuition and fees are around 14k. do i have to pay the difference when signing up for classes? disbursement of the first portion of the loan is in august but enrollment is july 13, what do i do? i don't have the money to pay for it upfront. also, my parents didn't claim me on their 2020 taxes and i filed on my own. does that make me an independent now....? [link] [comments]  |
| variable 8.750 vs fixed 10.50? which one would be best for me? Posted: 30 Jun 2021 02:52 PM PDT Hi, it's my first time getting a private loan and this is the only option for me at this moment. so variable is 8.75% vs fixed is 10.5 % I'm borrowing around 46k this year but need to borrow more for my second yr and 3rd yr grad school totaling about 120k~ so that being said, not sure which % I should go with, as this is my first time getting a loan. After graduation, I'm looking at a salary range of around 100k but considering paying rents+bills not sure what to go for. any help is appreciated. thanks in advance! ======EDIT. Many of y'all asking how come I'm not getting FAFSA.. here's why I got good credit but apparently, I'm a DACA student and I don't have a cosigner that has good credit. This is the only company that I got through with a U.S. citizen co-signer. (Sallie Mae) [link] [comments]  |
| Posted: 30 Jun 2021 07:27 PM PDT Is this a credible lender? Felt really odd filling out the application where it doesn't ask to verify income. [link] [comments]  |
| Posted: 30 Jun 2021 06:50 PM PDT I reset my password like 3 times and it still says it's incorrect [link] [comments]  |
| Posted: 30 Jun 2021 08:00 PM PDT I'm a male and I just finished my third year in college in the States and should be in my senior year next fall. For both my freshman and junior years, my father has generously paid my tuition (50k) as he is very well off. He has had an agreement with the university that lays for him a payment plan over the year including this year. However, this past month my mother has chosen to divorce from him because though he is wealthy, he is not good with his family including me (he is a diagnosed narcissist and refuses help despite the clear emotional abuse he puts us through). This past year, tensions rose quite dramatically with him and everyone else. He kicked me out twice, constantly cut off financial help, physically attacked me etc. This led him to promise that he would pay tuition by the end of the school year which he has chosen not to do and he will likely not do for a number of reasons. The first is that he fled the country (dual citizenship) and has made it clear he will not be returning unless the divorce is called off which won't happen. He also has cut off financial support and has taken the money I earned from my job during school (he was a secondary on my account and transferred what I had to his account but that's been fixed). I've also been advised to not keep in contact due to fear of further abuse. From this point on, I have around $40,000 left for my junior year (the year that just passed) just to be able to enroll in my final year. My mother doesn't make nearly enough to cover my tuition past or future and the amount I work from my job gets me by for living and other essential expenses like food and water. I already spoke with the financial aid office in my university and they can't help forgive anything or provide assistance without the fafsa application which I can't do because my father isn't here and he won't give me access to his tax returns. My parents previously filed jointly but my father did all of it and my mother wasn't involved so even she doesn't have access to the tax returns. If it is possible to cover previous tuition with a student lone then to my knowledge these are my current options and I would love to hear about other options that I may be ignorant of: 1. Get a student lone which would be in the 90k/100k ballpark for the last 2 years. 2. Get a student lone for just the past year (40k) and take a year off of school as a leave of absence. This would give my mom a chance to finish filing her taxes independently from my father and I could use her tax returns to get a substantial amount in financial aid from my university. However, this would only cover my senior year. 3. Don't take a student lone but take a year's leave of absence. This gives me a chance to work and attempt to cover the 40k myself and apply for financial aid for my senior year. I recognize that I've been financially fortunate the past 2 years in regards to tuition and that many others struggle much more than I have in that regard. However, given my family circumstances, it's been a long journey in other aspects of my life and I generally didn't have a choice. Thanks in advance for all the advice! Tl;Dr Parents are divorcing with my dad fleeing the country and not paying for tuition that he had an agreement with the university to do. Should I take a lone? Can I even take a lone for past expenses? Is a year off to work smarter? Do I have any other options? Thanks again! [link] [comments]  |
| How to Make Student Loan Payments While You’re Still in School? Thanks! Posted: 30 Jun 2021 07:59 PM PDT |
| Is the FAFSA deadline today for 2021-2022 school year? Posted: 30 Jun 2021 12:12 PM PDT |
| Posted: 30 Jun 2021 07:21 PM PDT My school offers 100% refund for housing if withdraw on first day of occupancy. If I withdraw from housing on the first day of occupancy and get the 100% refund, is it disbursed to me, or does the government get it back. The entirety of my attendance cost is being covered by fed/ state grants and loans [link] [comments]  |
| Refinancing SM through Earnest Posted: 30 Jun 2021 06:41 PM PDT Hi all, I recently refinanced my Sallie Mae loan with Earnest, and they overpaid. I had a balance of about -$200 yesterday, but today my balance is $0. I'm assuming the refund is going to either myself or Earnest, but does anyone know how long the refund process usually takes? I would love some insight and I LOATHE Sallie Mae's customer service. [link] [comments]  |
| How does capitalized interest work on unsubsidized loans while in school? Posted: 30 Jun 2021 04:43 AM PDT TL;DR: If you don't care about giving personalized advise but can answer the question then I appreciate that. I also bolded other relevant but general questions that could help other people if you are able to answer it. Thank you I'm trying to figure out what will work better for me once I start school this coming January (employer will pay tuition and fees). I currently have 2 Grad Plus loans (~$11.5k at 7%) which I plan to pay off right away once the forbearance ends. I also have the followed unsubsidized loans: - $11,300 at 6.00% - $7,151 at 5.05% - $1,057 at 5.05% Other than that I have about $16.5k in subsidized loans all at a lower interest that I realistically won't have to worry about making payments on for 3+ years. The degree I will be getting won't really help me but it'll be completely free and I'll be taking the courses part-time while working full-time. My question is whether or not I should be making payments on the unsubsidized loans while in school. - From what I understand, interest keeps accumulating and whatever I don't pay gets capitalized. Does this capitalizing occur every year even in deferment or does it only occur once after I finish my 3-year program? - Is there a significant difference in total amount paid if I make monthly payments while in school vs I set the same amount of money aside in a pseudo-emergency/savings account and then basically pay the whole thing off immediately after I finish my school (when the deferment lapses)? Background: - The reason I want to try and delay these payments is because the money would be going towards other legitimate needs that could potentially offer a larger payout in the long run than if I were to use it to pay off these loans ASAP. - Another reason I'm hesitant is because there may be some type of forgiveness or additional assistance/interest relief offered within the next 4-6 years.
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| Posted: 30 Jun 2021 09:53 AM PDT My loan was switch to myfedloan in April. Does anybody know how it takes to show on credit report? [link] [comments]  |
| Posted: 30 Jun 2021 06:51 AM PDT Hello there I'm currently a junior at a university and I have a few questions regarding my federal student loans. I took out all my available federal student loans for the 2020-2021 school year. The direct subsidized loan was $4,500.00 and the direct unsubsidized loan was $2,000.00(total of $6,500) and the accrued interest was 0%(due to the pandemic). This was the first school year in which I took out any type of student loans. I'm not scheduled to graduate until the end of the fall 2022 semester at the earliest. Therefore, I don't think I have to make repayments now but I am considering paying some off the loans I've previously taken out before the start of the 2021-2022 school year and before the interest rate rises back up around September. I'm planning to take out the same amount of loans I took last year(direct subsidized loan=$4,500, direct unsubsidized loan = $2,000) since that's the only way I can pay for school. However, i'm unsure if it's a good idea. Should I pay off some of my loans now since I haven't accrued interest yet? Second, since I will still be in school for a bit, what approach should I take with my student loans. I've been advised to at least pay off my accrued interest because it's not a lot and it prevents my loan interest from substantially growing. What other approaches should I take. Third, when I do graduate and I have to start repaying, how do I approach making my payments. Should I begin repaying one of the loans before the other? Sorry if my questions are stupid. I'm honestly clueless over how to approach my federal student loan situation. I'm a first generation student and I don't have family members who are incredibly familiar with student loans. I recently found this subreddit and I think I can get some help here. Any tips or advice will be appreciated. Thank you. [link] [comments]  |
| How do I get extra payments applied to the principal? Posted: 30 Jun 2021 12:44 PM PDT I want to pay down my loans with Sallie Mae because they're awful. My parents told me SM was the best for loans and 17 year old me believed them. Lost my job due to pandemic so it's been a rough year. I would like to get back on track to paying these off. Extra payments are applied to the interest and not the principal so it's like I've never made a dent and I would like to change that. How do I get the overpayments applied to the principal? Or do I just have to pay such a high amount that it applies to the principal? Thanks! [link] [comments]  |
| Choosing not to consolidate - Different payment plan per loan? Posted: 30 Jun 2021 06:29 AM PDT Hello! So I have been struggling to find info on multiple loans. I have 5 loans (A, B, C etc), all federal sub and unsub. I don't want to consolidate, so when it comes time to chose my repayment plan, can I choose 5 different plans? I tried simulating this on the student aid website but it just gave me a "repayment" strategy with a weird black box covering stuff. I wanted to figure this out while I have time, and I am considering not consolidating because I want to pay them off from highest interest accrual to lowest. And is the total min monthly payment the sum of each loan's min monthly payment? I assume the loan servicer handles distributing the total payment to all 5 loans. Thanks for helping! [link] [comments]  |
| Completed entrance counseling by mistake Posted: 30 Jun 2021 06:12 AM PDT I recently graduated graduated and I have never taken out a loan. This morning I just received an email talking about entrance counseling and when I called my school and they told me it was normal and that I just need it to fill it out and submitted. My worry is that I just submit it and my friend just informed me that that is done only when taking out a loan. I just want to know if by filling it out I just entered into a loan? I am really confused. [link] [comments]  |
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