Cardona comments today - information “very soon” Student Loans |
- Cardona comments today - information “very soon”
- At the halfway mark!
- I don’t see a way out of this debt
- Most likely a student loan scam?
- Advice with current plan/advice with how to pay back.
- Canadian Student Loans
- My tuition is suddenly gone???
- Does anyone know what will happen after FedLoan stops servicing federal student loans?
- Someone help me make sense of this
- Is it possible to get a subsidized loan increase?
- What happens after getting a student loan (one that fell off your credit report) out of default?
- I found a way to get my 80,000 private loan discharged without a undue hardship defence!!
- Just found out my [$80,000] private student loan is dischargeable because it is a non-accredited school.
- I’m finally going to college after dropping out of high school my senior year, and I’m really confused about student loans.
- 1 Missed Payment; -200 points to my credit score
- Fafsa - One parent disabled and on SSDI
- Is it okay to change bank account after?
- Getting a federal plus loan for associate's degree after bachelor's
- Did I just get scammed or *almost* get scammed?
- In School Deferment ran out?
- Can a US citizen living abroad be a co-signer for a loan?
- I think I already know the answer to this question, but here it goes....
- Trouble with Refinance
| Cardona comments today - information “very soon” Posted: 05 Aug 2021 01:07 PM PDT "Cardona also said during Thursday's briefing that student loan borrowers who have had their payments and interest suspended since last year will hear about whether they'll have to begin repaying their debt "very soon." "I don't have anything today, but as I said, this is a priority for us. The borrowers are in need of information and they're also in need of relief," he added." [link] [comments]  |
| Posted: 05 Aug 2021 08:58 AM PDT I've been waiting for this day to come since the minute i starting working and paying off my loans. I graduated with about 82K in loans for my undergraduate degree. I got my first job post grad at the end of August 2019. Since then, ive been living with my parents and penny pinching to spend the majority of my paychecks on my loans. Today, almost 2 years later, i have enough to get them down to exactly 41K. My salary was 35K when i started working and now its about 42K (i work in mental health/social services so the pay isnt very good) I couldnt have done it without living with my parents and keeping my costs incredibly low and im grateful for it, but at the same time its been hard, stressful, and very depressing. While all of my friends get to travel or live in apartments, im in a household that really affects my mental health and i haven't done anything besides work. Going from almost 100K in student debt to a more manageable amount makes me feel loads better, but i know at this rate i still have 2 more years of this if i want to get rid of them and i'm just at a point where i want to start living my life and spending my hard earned money on experiences and on myself. Of course i regret my degree and how uninformed i was taking out loans to pay for school, but theres no point in crying about it now and i'm just trying to get these to an amount that isnt anxiety inducing. I used the method of paying off my loans with the highest interest first and used google sheets to track everything. Here's the breakdown (all estimates, i dont have the original amounts saved) Parent PLUS loans: 1. 18,630 (6.8%) Now at ~6,400 2. 15,140 (6.3%) Now at ~10,000 3. 13,500 (7%) Paid Off 4. 8,500 (7.6%) Paid Off Loans under my name: 6 ranging from 2-6K totaling up to ~26,000 interest rates from 4-5%. Now at ~25,500 (ive just been doing minimum payments for these, i will be paying these off last since interest is lower + im more preoccupied getting the parent PLUS loans under my dads name paid off) Thanks for reading! [link] [comments]  |
| I don’t see a way out of this debt Posted: 05 Aug 2021 01:14 PM PDT Just wishing I could go back and never take out loans to attend college. I graduated with my degree in May 2020. Still no job or even an interview in my field (finance). Still working for 12.25 an hour at the grocery store I worked at throughout college. Thought about trying to go back to community college to get a two year degree that has a much more promising job market, but I can't get any aid to go back because I already have my bachelors. I just feel so stuck. I have no way of paying these loans off and I'll never be able to own a home. I feel so discouraged and I don't even see a point in living if I can never have my own family/life. [link] [comments]  |
| Most likely a student loan scam? Posted: 05 Aug 2021 01:43 PM PDT Just got a call about 5 minutes ago: "Um I do see here that we hey it's Chelsea with student health assistance my phone number is XXX-XXX-XXXX and I'm actually just doing a follow up call for you regarding your federal student loans um I do see here that we still have you prequalified for the student loan forgiveness program um just keep in mind that these programs will change and a relief deferment forbearance is actually about to expire um so I want your qualifications to change along with that I a.m. here all week Monday through Friday 8 AM to 5 PM Pacific standard time just in case again my phone number is XXX-XXX-XXXX so I do hope to hear from you soon" I'm not sure what to really think about it, but it does seem really weird and out of the blue. [link] [comments]  |
| Advice with current plan/advice with how to pay back. Posted: 05 Aug 2021 07:19 PM PDT Hello. Upon graduation, it is estimated that I will have close to $150,000 in student loan debt and all but $50,000 will be federal. I will have a major in Political Science and in Philosophy, paired with a minor in German. Overall, I intend to work for the federal government or join the Air Force as an officer. I was hoping to utilize the federal loan forgiveness here to pay off my loans in the long-run, but I'm not sure of the certainty of this plan. My only other consideration is to go onto my master's in international politics post graduation in Germany (where it would cost me significantly less money.) then, apply as a Foreign Service Officer with the feds. Any and all advice is welcome, but I am aware that this is a lot of money and people telling me that, "that's a lot of money," or, " you got to pay it back, " or my favorite, "you shouldn't have gone to such an expensive school," aren't helping anyone in this situation. I guess does this seem like a solid plan of attack for my loans? Thank you for your time and consideration! [link] [comments]  |
| Posted: 05 Aug 2021 10:26 PM PDT Can I, as a Canadian resident and citizen interested in studying in the US (college), take out loans in Canada from a Canadian Bank, to pay for my American Education? Or do I need to take out loans from an American lender? [link] [comments]  |
| My tuition is suddenly gone??? Posted: 05 Aug 2021 10:19 PM PDT I logged into my student portal to calculate my remaining debt to school & the amount was $0. JEFFCAPSALE063021 has paid it off or taken it. I looked it up and apparently they're a collection agency? Not sure what it is, just a quick google search. It's been 9 months since I last paid, so I wouldn't be surprised since I didn't contact my school (finally got a job to start paying it off). I feel like I should be worried about my debt suddenly disappearing. What should I do? Are they going to come after me? Tank my credit? What and who is this? Who do I go to? Really spooked! :( Any help would be GREATLY appreciated. TLDR: JEFFCAPSALE063021 has taken my debt. No idea who they are 100%. [link] [comments]  |
| Does anyone know what will happen after FedLoan stops servicing federal student loans? Posted: 05 Aug 2021 04:09 PM PDT Maybe another servicing agency will take over but who could it be? I am afraid I would easily be scammed by a fake servicing company. [link] [comments]  |
| Someone help me make sense of this Posted: 05 Aug 2021 03:56 PM PDT Since my first payment well over 7 years ago, I have made a total of 79 payments totaling right around $17K. As of now, my balance has gone up by almost $6K since that very first payment. How is this real life? [link] [comments]  |
| Is it possible to get a subsidized loan increase? Posted: 05 Aug 2021 05:05 PM PDT Im a 5th year undergrad and I'm living on my own this year and the amount of loans I have don't really clobber everything. Is it possible to get more subsidized loan? I'm not to keen on unsubsidized. [link] [comments]  |
| What happens after getting a student loan (one that fell off your credit report) out of default? Posted: 05 Aug 2021 02:01 PM PDT I've been in the lengthy process of repairing my credit score after years of alcoholism and apathetic depression. I have only $3,600 in Federal student loans. It was never taken care of until recently and no longer shows up on credit reports for the three major agencies. I set of a rehabilitation plan. Since I am very poor (trying to fix my spotty resume too!) I have only been paying $5 a month. What will happen once it is out of default? Am I correct in understanding that it will return to The Department of Education and the monthly payment will increase? Will it reappear on my credit reports, if so will that cause damage to my credit score? I have increase my score from around 350 to 614 this year. This FAFSA loan is the last one (despite not being on credit reports) and I just want to get it in good standing and eventually paid off. Thank you for reading! [link] [comments]  |
| I found a way to get my 80,000 private loan discharged without a undue hardship defence!! Posted: 05 Aug 2021 07:48 PM PDT Hello r/StudentLoans I just wanted to share my experience with my student loan bankruptcy discharge. I know a lot of people believe that the only thing that can be done is to prove that it would be undue hardship to pay back these loans. I found that this information is not true and that there is another way to discharge them. https://www.leagle.com/decision/inbco20160405723 <-- please take a look at this case which outlines how this works.
The law clearly states that an eligible institution must be under the title IV program, which my school was not under. Therefore I should be able to file bankruptcy and get my student loans discharged!! [link] [comments]  |
| Posted: 05 Aug 2021 07:41 PM PDT I went to a school called Xavier University School of Medicine and received a loan for $60,000 to complete my third year of study. The school policy stated that these funds will not be disbursed until I pass my "step 1" exam, which is a requirement to enter the third year. I did not pass this exam, or regain full time student status again at Xavier. I instructed the school to return the money to the bank but do not have this in writing. The school ended up charging me 12,000 in leave of absence fees and has kept the entire loan amount. Last year they told me that in order to get the remaining balance, I would have to enroll in classes and that they would be willing to give me a masters degree based on the credit I already had. The school then charged my loan account another $5000 and asked me to complete some fake classes that I already had completed and sent me the degree. After this when I asked them to release the funds they gave me the run around for months until finally after I threatened to sue and report them, they offered me a settlement of 43k. This settlement is unacceptable to me because:
The good news is that I have found out that this loan is dischargable under bankruptcy because my school is not considered a "qualified educational institution". They are not on the list of title iv accredited schools and therefore are not even recognized by the us government. I have been advised by a lawyer to file for bankruptcy and get the loan discharged. My only concern however is that I don't believe the school should be entitled to keep these funds. I know if I sign the settlement offer they sent me, I can get the 43k.. but I am worried that this will make it so that I can not get the 43k from the school. My plan is to sign and get the 43.. offer it to the bank as a settlement first.. and then use it to pay my other debts. (credit card, family who paid for my loan, and to pay off my toyota corolla with 150k miles on it). Any advise would be appreciated! [link] [comments]  |
| Posted: 05 Aug 2021 07:37 PM PDT I applied for FAFSA, but I know I won't get much/anything because it's based off my mother's and stepfather's income. I'm doing online school and tuition would be roughly $10k yearly. I'm assuming at this point my biggest option would be student loans. How do you figure out how much you need to borrow? I work a full time job making roughly $60k/year, but I also am already living almost paycheck to paycheck with living expenses (apartments and everything are overpriced where I live). Is it possible to just pay some of it out of pocket from a personal debit card or do I have to use financial aid? [link] [comments]  |
| 1 Missed Payment; -200 points to my credit score Posted: 05 Aug 2021 07:13 PM PDT July 2019, I missed my deferment renewal by ONE day. Credit score plummeted 200 points. 1 missed payment counted as 19 missed payments. Help? [link] [comments]  |
| Fafsa - One parent disabled and on SSDI Posted: 05 Aug 2021 06:47 PM PDT Seeking advice on the best approach for student loans for my kids going away to college. The kids will have to take the loans and we will help as we can. I am 100% disabled and on SSDI, but the wife works. Does my SSDI income count on the FAFSA? Does the SSDI that I receive for the kids, count against anything and is it listed on FAFSA under myself or the kids? Thanks for your advice in advance [link] [comments]  |
| Is it okay to change bank account after? Posted: 05 Aug 2021 06:34 PM PDT So right now, I'm in Scotiabank, but I'm planning to change to either Simplii or Tangerine. Right now I'm still filling up the MFSAA form and they are asking for my bank information. It would be too late to apply for tangerine and simplii now because they want the forms filled up before Aug.31 and the card prob would take two weeks to arrive my mail. So I'm planning to use my current bank account, Scotiabank, for the student loan and grants. Would it be okay to change my bank account halfway through the year? Or would it confuse them? Should i just call the student services when I change my bank? [link] [comments]  |
| Getting a federal plus loan for associate's degree after bachelor's Posted: 05 Aug 2021 04:42 PM PDT Can I apply for a plus loan for a second associate's degree after my bachelor's? I've just graduated from my university this semester and start nursing school (asn) at a community college. I've chatted the support on fafsa website, and was told to select first year post-grad student when applying for 2021-2022 fafsa. I've also graduated from a community college before my university. [link] [comments]  |
| Did I just get scammed or *almost* get scammed? Posted: 05 Aug 2021 04:07 PM PDT I got a letter in my mailbox about getting a lower interest rate and thought it was from the government and stupidly made a call to this scammer. In short, I didn't pay them anything, didn't sign their "application" because halfway through the call, I realized they're shady. However, I gave them my DOB, email address, address, work address and most importantly my social security number. They changed my FSA password, which I later changed to something else. They also sent me a verification link and I clicked it... My contact info on FSA and myfedloan looks fine for now. What else do I need to worry about? I know it's a stupid question but did I just get scammed? [link] [comments]  |
| Posted: 05 Aug 2021 03:19 PM PDT I'm looking to see if anyone has experience with this. I've had a student loan from Sallie mae since 2010. Probably around 15k or so. I've been going to school part-time paying out of pocket for the past few years and I'm about to get my associates. I just got a letter from Sallie Mae that in 60 days my deferment is going to run out. I didn't know there was a limit to this. If it's true, I guess I'm kind of screwed, no way am I going to be able to pay what I expect them to ask for. I've dealt with them before and they were a real pain in the ass in letting me pay a lower monthly rate. At my current state I can probably pay $100 a month but would rather do $50. If they do not agree to it, but I end up just giving them $50 a month anyway, what would happen? I figure they can take me to court but if I'm paying what I can and what I can afford how would court turn out? I once looked into refinancing with another company to try and get a lower monthly payment but it required me having to graduate. I originally dropped out of school and later returned. Are refinancing options more doable? Not sure what my options are. Credits kind of crap and I just finished off paying credit card debt. I have about $10k in collections from other cards but slowly paying what I can. I really wish I didn't sign the Sallie Mae contract when I was 18 years old.. [link] [comments]  |
| Can a US citizen living abroad be a co-signer for a loan? Posted: 05 Aug 2021 02:39 PM PDT Hey all, I am trying to get additional student loans from a private lender for a host of reasons that aren't super relevant. My aunt who is a US citizen currently living in Canada (and has lived there for the past 20 years) has agreed to co-sign on a loan, but we are having trouble getting the co-signer application submitted. Her Canada address isn't accepted and neither is her last US address. I tried Googling this and all I came up with was that the co-signer has to be a US citizen, which she is. I couldn't find much more relevant info. Is there an international application she needs to fill out? Are there only certain lenders that allow co-signers to be living abroad? I am currently trying to apply with Sallie Mae if that matters, and their criteria is just a US citizen or US permanent resident. Thanks! EDIT: a Sallie Mae rep told me she has to have a current permanent US address regardless of citizenship. Are there other lenders that I can try? [link] [comments]  |
| I think I already know the answer to this question, but here it goes.... Posted: 05 Aug 2021 01:30 PM PDT I have student loans and I also took out parent plus loans for my daughter. I'm looking to consolidate the loans and apply for PSLF. Her dad/my husband, are legally married but do not live together. I do not use his income for my living expenses. I have a job. We do file taxes jointly, it's almost always better to do so. Must I include his income, he is retired, he gets a pension and Social Security, when consolidating the loans. He is not going to be paying on them, just me and our daughter. Should I consolidate, using both our incomes and then when I apply for IBR through Great Lakes, check we are separated and get a payment just on my income? My daughter will be helping some with the payments. [link] [comments]  |
| Posted: 05 Aug 2021 01:24 PM PDT A little background. I work in education and I have been out of school for 7 years. When I graduated I had 4 private student loans (1 per year) in addition to the maximum allotment of Stafford loans that were given to me (roughly $5k/year). The private loans were taken at 7-11% interest originally and the interest accrued while I was in school created a mountain of debt. Finished school with $120k of private debt. I refinanced/consolidated the 4 loans down to 2 loans over the course of the first 1.5 years of repayment. Lowered the interest rate and released my cosigners. Made my payment a little more manageable and have been making on time, albeit minimum, payments for the past 5 years. I've chipped away ~$25k in principal, but it is taking forever with a 6% average interest rate between the 2 loans. Which leads me to: Earlier this spring I thought I would take advantage of the lower interest rates and refinance the 2 consolidated loans down into 1 neat little package. I could even stretch the term out a little longer without losing any money due to the interest rate savings, seemed like the perfect solution... Until I was denied. I was carrying quite a bit of credit card debt, so I figured that was a big reason for the denial and I made sure to cut that in half over the last 6 months and figured I would attempt a refi/consolidation again. Well I was denied again today. What I am learning is that the total amount I have left (~$90k) is too far above my income (~$70k) to get approved. At least along with my other debts (car payment, etc...). My question is: Should I attempt to just refinance each of the 2 loans independently because they will be easier pills to swallow for the banks, or now with 2 denials and what would be at least 2 more credit pulls to complete that have I lost my opportunity for the time being and I should wait as to not have too much activity on my credit. Last note, I am recently married and we were hoping to enter the housing market at some point. The goal was to try to get my DTI down with a longer loan term and look better for a mortgage but now it feels like I am doing the opposite. Any insight from someone who has had similar issues will make me feel better! TL:DR- Attempted to refinance twice in the past 6 months, with 2 different companies, denied both times. Should I try to get smaller loans rather than 1 large one or have I done enough damage with the denials and need to chill out for a bit. P.S.-My federal loans are mostly under control through the PSLF, PAYE and the current forbearance. [link] [comments]  |
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