I lost my financial aid and I’m not sure what to do Student Loans |
- I lost my financial aid and I’m not sure what to do
- Where to take out loans?(Undergrad)
- I don’t trust my parents when it comes to finances (specifically for college)
- Do my student loans affect my husband?
- Do smart education loans exist? You don't pay interest as long as principal is in the account
- Private Loans for Intnl Student
- Is this a good interest rate for my loan?
- What is the difference? Seriously
| I lost my financial aid and I’m not sure what to do Posted: 28 Aug 2021 01:41 PM PDT My first yr in college and gpa fell below a 2.0 and I lost my financial aid. My first semester wasn't too bad. My second semester my grades plummeted, I got a UW and an F. I think that's what screwed me up the most. My other two classes were a C and a W that I was granted last minute by my professor. After realizing I truly messed up I tried to sign up for 2 summer classes to retake the UW and the F but there were asking for over 1000 which I did not have on hand, I asked my father and he didn't wanna help either. Not even that. After I got the letter saying I lost my aid eligibility, I did not try to appeal it . And now the dead line passed. Even worse for me now. School starts in 4 days. They are asking me to pay a little over 3000 out of pocket. Which I do not have. I tried to look into a payment plan but I'll need to pay 1000 at time of enrollment, which I could possibly afford for the other payment but I do not have 1000 as of right now. If your wondering why did you wait last min to figure this out. I was under the impression that I'd be taking out a private loan this semester but when the time came my father backed out and did not want to co-sign. And now I'm in a state of panic. As it stands my options is to do part time right now are to retake my two failed classes (the F and the UW) plus an extra to redeem my gpa. So that I could possibly get my aid next semester. I could afford that by myself. Or to just take the semester off. And try again next semester. My issue with that is that I already took a gap year at the end of high school do to my financial circumstances. And I'm afraid if I skip a semester I'll fall out of the flow of school,also my previous gap year gave me deep depression, I was crying everyday, had no motivation and felt like life was moving forward for everybody else while I was stuck in place. It is not something I want to do again. And now [link] [comments]  |
| Where to take out loans?(Undergrad) Posted: 28 Aug 2021 11:32 AM PDT Current undergrad, due to recent events I will need to take out loans to pay for college. I expect to need about $150k however as far as repayment I am not that concerned as I am going to a good school and will go into a high paying career. Where can I take out loans that range from $100k-150k, I read that the federal student loan max for undergrad is 50k. Not sure how true this is but any help is appreciated. Edit: Went over the responses and talked about it with my parents, Most likely going to be transferring to a local school where It will cost about $30k in total only thing is I will have a two hour commute to and from everyday(not a big deal in New York) and I can always get an apartment if it becomes an issue. [link] [comments]  |
| I don’t trust my parents when it comes to finances (specifically for college) Posted: 28 Aug 2021 06:44 AM PDT I am an 18F going to university in the UK in a month. I've been working since I was 15 (worked really shitty, minimum wage jobs up until July of last year plus had school so I didn't have much from jobs I worked from 15-17), but I started working at a new job since July 2020 and practically have enough money to pay for my housing in full plus still have enough money to bring with me to the UK from that job alone. The logical thing to do is to use the money and pay the housing in full, right? Nope. Not according to my parents. Instead, my mom wants me to loan out the entire amount for tuition and housing PLUS some more (damn near $40k), intending for me to save up the enormous amount of money I worked for, therefore using it towards nothing! That logically doesn't make sense because I worked a whole year for the sole purpose of paying expenses for England and she even emphasized to me the whole year that I should be saving for England - uh, HELLO??? I have!!? You're not letting me use my own money!!! It's frustrating to me because I have to pay back these loans and I KNOW the general approach to loans is "only loan what you need" because interest rates are an absolute pain. I only want to loan out the tuition (which will be about $22k in USD, since I got a $3-4k scholarship from my uni), but she wants me to instead save up the money and do absolutely nothing with it. I plan to return the disbursed money back towards my loans and instead get a part-time job there (I don't spend that much money anyways). Not to mention, I worked a year in WHILE going through a whole pandemic and completing my senior year of high school. The place I worked at was a shitty environment to work in but I still stuck through it. The whole 2020-21 year, I've been through hell and back. And now that will go to waste because I will barely have used any money for any important - like, I didn't work for a whole year just to not use the money I intended to use it for???? Basically, my plan to pay for uni in the UK is to work full-time in the summers I come back to the US so that I have enough money to pay for housing in full – housing at my uni is inexpensive (it's a northern uni and NOT London 😉) so I will only need to work towards $5-7k). It's frustrating to know that your approach is the correct approach and someone wants to screw things up for you because THEY think they're right. I just feel like my parents are setting me up for financial doom. The degree I'm working towards has a good starting salary but it's not worth paying loans that you don't need to pay. If I followed my plan, my student loans would equate to my starting salary and I can pay that off within a year to two (because my plan with loans is to also pay as aggressively as I can). If I follow their plan, it will take who knows how long. What should I do? I feel like if I talk to them then they're not gonna care for what because they treat me like I'm stupid. I know I'm doomed, but I feel useless because I feel there is nothing I can do because I don't feel that they have the best intentions for me at heart, only their own. [link] [comments]  |
| Do my student loans affect my husband? Posted: 28 Aug 2021 02:07 PM PDT Hi all, I recently graduated in May of 2020 and ended with a whopping $80,000 in student loans (private loans through Sallie Mae). Shortly after graduating I got pregnant and Covid hit so I never got to start my career the way I wanted to. I am a stay at home mom and luckily, my parents took over my student loan payments temporarily. My husband and I plan on purchasing the house that we have been renting so he will be taking out a loan for this. I am super worried this will affect him and prevent him from getting the loan. He didn't co sign on my loans at all and all my payments are made perfectly on time. My name will also not be on the house at all. Thanks! [link] [comments]  |
| Do smart education loans exist? You don't pay interest as long as principal is in the account Posted: 28 Aug 2021 03:27 AM PDT Hi guys, I am planning my higher education and need some advice regarding taking a loan. Do smart education loans exist ? My reason for asking:My father wants to fund my education completely but I dont want this money to be spent all at once and would prefer for it to be spent over 4-5 years. What i mean by smart education loan (they look like overdraft loans): [link] [comments]  |
| Private Loans for Intnl Student Posted: 28 Aug 2021 04:00 AM PDT Hi! I have been wanting to study med school in the US. Unfortunately, they do not recognize Philippine degrees (I am from the PH). Im thinking of applying to unis for fall 2022 but as an intnl student, it means I have huge fees to pay. Im planning to do student loans for international student. A rough estimate of 200k dollars for 4 years of college, not including med school. Just some additional facts: i ranked second in my school of 21 students, have a 4.0 GPA and have honors both nationally and internationally. I also have decent ECs. Do you think I can qualify for a full ride scholarship? Thank you! [link] [comments]  |
| Is this a good interest rate for my loan? Posted: 28 Aug 2021 03:33 AM PDT I took out a personal loan to cover my grad school tuition and wanted to see if the loan is considered "a good one". Loan amount: $37,000 Interest: 5.04% Years to pay off: 10 I went with SoFi because it had the best interest rates and it didn't bombard me with solicitation emails or calls when I was just researching. Other loans I was looking at were from College Ave, Sallie Mae, Earnest, etc. FAFSA unsubsidized was offering 20k but at a total of 6.28% interest. Sadly no subsidized loans are offered for grad school 😿 Can I get reassurance if the SoFi loan is worth it? Does anyone have experience with student loans? [link] [comments]  |
| What is the difference? Seriously Posted: 28 Aug 2021 03:56 AM PDT Let me preface by saying that I am not a student loan expert. I do research to the best of my ability, but if I misunderstand something, please let me know in a constructive manner. On a regular basis I'll check the news on student loans or student loan forgiveness, and every once in awhile I'll find out that the DoE/President have forgiven another XYZ people's federal student loans, totaling in the billions. Wasn't the argument that the Executive didn't have the ability to cancel or write-off loan debts? When loans are taken out, regardless of the outcome, all loan recipients should be responsible for loan repayment all the same, even if an institution folds, or you succumb to personal issues/health. The Higher Education Act of 1965 provided the executive the ability of "consent to modification" of, and to "compromise, waive, or release," amounts due on federal student loans. Nowhere does it state conditions or basis of qualifications to act on this power. The fact someone went to ITT Tech or got in a severe car accident and can no longer work —does not and should not —give you preferential treatment on this issue. Debating is nothing but semantics. The ability to cancel or adjust loans is the same. Joe Biden went into office with the expectation of forgiving 10k of student loans per borrower. Who should have their loans cancelled, or place gates/limits for eligibility shouldn't matter. Why? To even qualify for grants/loans you had to prove financial need in the first place! Doesn't matter if you're in STEM, a teacher, certified electrician, or dropped out mid-semester. If you still have a balance of federal student loans, up-to 10k should be cancelled. It's beyond time for Joe and Cordona to sign the order. [link] [comments]  |
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