Looking forward to death Student Loans |
- Looking forward to death
- I paid it off tonight
- Finally done - $105k in 4 years
- Sigh. Just a mini vent.
- Need advice after a scam
- Buying more real estate while still in college debt?
- SoFi vs Discover student loan
- One semester left, $66k in debt, depressed
- 336K in debt, $125k salary with decent bonus potential.
- Do your forbearances reset if you change services?
- Does choosing an online program from a school afford you less money from FAFSA than a "in-person" program from the same school?
- Why Does Navient (Dept. of ED Loan) want my Gross Income?
- Question about part time status and loan repayment
- Cancer and Parent Plus Loans
- Best company for private loans for wife. I will be co-signing and my credit karma says I have 760 and wife 720. Fixed or variable interest rate?. We want to be prepared she is going to start nursing school no so much help from FAFSA. Thanks
- Drowning in private loans?
- FASFA funding fell through, now considering self funding and private loans
- Why are my payments being applied to interest?
- Student loan forgiveness phone calls
- Student Loans for Fall of 2020
- Borrower's Defense Case - Brown Mackie..
- Small private loan
- Non Federal Student Loans for Community College?
- Loan recertification?
| Posted: 04 Aug 2021 05:53 PM PDT Please note: I'm not suicidal. But I will be 43 years old in a few weeks, and my student loan (Federal) sits at $108,000. This is with $25,000 of interest. And I actually take comfort in thinking about death, as my student loan will be canceled/forgiven upon my death. It feels quite liberating. And my loan is only in my name. I don't have any PLUS loans. So no one will be responsible for my loan once I die. I was in the Public Forgiveness Program, but the job I was in was eliminated due to COVID. I'm grateful that I don't want a house, I don't want kids, and I don't live extravagantly, other than buying groceries. Does anyone else feel this way? [link] [comments]  |
| Posted: 04 Aug 2021 10:22 PM PDT I didn't graduate high school. Honestly, I was kicked out of my first high school two weeks into my sophomore year. I went to an alternate school and was kicked out a few weeks after that. All of this before turning 16. The day after I turned 16 I went and took the GED test. My goal was to pass by enough to get into a state school. I did barely. But, college wasn't in my future. I had many more hours of dicking around, wasting time and money. One day it hit me. I was sitting in the break room of an RV factory with Tony. Tony was about 60 years old. He smoked like a chimney. He was a good guy though. This particular day he was excited as hell. He told me he would buy me lunch. Who wouldn't want free food off the break truck?! It was like gold. I asked Tony why he was so happy. He told me he got a dollar raise. That brought Tony to a grand total of $13 an hour. I accepted Tony's crappy lunch. We had some good laughs. But, I knew that night that my future was pulling another drag off a smoke and waiting for the next dollar raise if I didn't change my ways. I went to college shortly after. I made a gazillion mistakes. Especially with student loans. About $69k worth of mistakes. Tonight, I paid the last off of those loans. I am debt free outside of my home. It feels good. But, it makes me think of Tony. I'm fairly broke after tonight, but enough to survive and build. I wish I knew what happened to Tony. I would love to repay him for that meal. Godspeed everyone [link] [comments]  |
| Finally done - $105k in 4 years Posted: 04 Aug 2021 08:21 AM PDT I've dreamed about this moment for a long time. I'm officially worthless! 🙃 I finished law school in 2017 with $105k of loans. Here is my income progression and payments since then. August 2017-May 2019: $38k - IDR with $0 payment May 2019-May 2020: $104k, paid off $4k a month during this time. Got it down to $58k or so May 2020-October 2020: $52k. Got laid off from old firm at beginning of pandemic. Thankfully was able to switch to a govt job quickly. No payments during this time. October 2020-Present: $160k-ish. Discovered FI/RE, took on contract jobs, and have been working 3-4 jobs at a time since October. These allowed me to not only finish off the remaining student loan debt, but also allowed me to save for a down payment on a house. Currently: I have the money to pay them off, but I've got it chilling in investments as we wait to see what Biden will do. It feels surreal to know they're finally (all but) gone. As a gift to myself for paying them off, I'm paying for me and some friends to go to Japan for a couple weeks later in the year. I can't wait! [link] [comments]  |
| Posted: 04 Aug 2021 04:41 PM PDT Hub's stupid Navient SLs just went up $75 a month. He's on income driven repayment plan. How can anyone ever get ahead? He gets a raise, the loan goes up. Raise is meaningless. It all feels so hopeless. [link] [comments]  |
| Posted: 05 Aug 2021 02:20 AM PDT I was contacted a little less than a month ago by a company called cornerstone doc prep. There used to be a loan company called cornerstone that worked with the DOE. They told me they were with the DoE. They pulled up my information without me telling anything to them. They even were able to change my password on the federal loan site. They talked to me about a bunch of different real options to lower my student loan. I agreed on one called public service loan forgiveness. We got everything together and they said it would be $800 to transfer my loan from my current provider. Well I was suspicious of this whole thing so I still did research. I found out this was most likely a scam. I reported it to the FTC, cancelled any plan I had with this company, in email and phone, and reported it to the DOE. However they said I'm not eligible for getting my money back because I didn't cancel in time. I called the bank and said I was scammed and my bank said they couldn't do anything about it. I had to work it out with the vendor. I don't know what else I can do right now and would really appreciate some advice. [link] [comments]  |
| Buying more real estate while still in college debt? Posted: 05 Aug 2021 02:16 AM PDT 90k fed college debt for me (working PSLF). No credit card debt or car debt. Our current home is valued at 240k, we bought at 129k in 2014, owe 107k. We are considering purchasing a second home in the next 5 years, moving into that one (we have kids), and then renting this home out (market rental rate would be ~1600/mo). Has anyone else been approved for a second mortgage without their staggering college debt counting against them? I didn't think college debt would factor into the DTI so much, but when we recently applied to refinance our home, it apparently did (we ultimately chose not to refi). —— So… now it has me thinking, will this college debt impact our hoes to buy again in the future?—— [link] [comments]  |
| Posted: 05 Aug 2021 12:37 AM PDT While looking for a new private student loan with cosigner for undergrad, I shortlisted SoFi, Discover, CommonBond and CollegeAve. I was able to get rates for SoFi and CollegeAve without hard pulls and dropped CollegeAve (see below for the reason). For CommonBond and Discover, I went through their hard pulls, and dropped CommonBond because I didn't like the options and experience (see below for more details). Out of SoFi and Discover, I am finding Discover more favorable because of the following reasons: - I got a much better fixed interest only rate of I got very good customer service from both SoFi and Discover and both have no prepayment penalty (another feature that I am particular about), is there any reason for favoring SoFi over Discover? What bothers me a bit is the fact that SoFi seems to be way more popular with lots of good experiences shared on various reddit threads, while there is not much on Discover. Discover variable rates look very attractive as it starts with I didn't pursue CollegeAve not only because they gave a wide interest range, but also because it seemed unreliable. The fixed APR rates quoted through their prequalification tool changed from a range of For CommonBond, I got rates comparable to SoFi, but they don't have an option to pay interest only through the school years (it is either no payment or full payment). Also, their application process is very rudimentary with no way to make changes to certain choices. There is not even a way to drop the current application and start a new one. E.g., to change the cosigner, I had to create a new account and start over. Rates started from fixed [link] [comments]  |
| One semester left, $66k in debt, depressed Posted: 05 Aug 2021 12:00 AM PDT Hey everyone, I started school late, not becoming a full time student until I was 22. For a variety of reasons my student loans are much larger than I expected them to be, and I didn't do a good job of tracking them while I was in school. I feel extremely depressed about owing so much money. On top of that I'm graduating school later than most people, which gives me less time to pay off my debts. I feel like I won't be able to afford to ever be married or own my own house at this rate, and I don't really want to follow the career path my major is in anymore (animation). I'm also angry with my school because they raised tuition costs and never told me. For reference, I owe about $44k in federal loans and $22k in personal loans. How can I get on track to paying off at least SOME of my loans (I'd like to pay off my personal loans first) so that I don't have to live with this debt for the rest of my life? [link] [comments]  |
| 336K in debt, $125k salary with decent bonus potential. Posted: 04 Aug 2021 11:34 PM PDT I feel pretty overwhelmed by my situation and hoping to get advice. Here's my situation so far:
My job is pretty good, and I negotiated a solid bonus structure. A senior employee there makes around 300K and I think after a few years I can make 200k. All depends on my hustle. I want to get my credit score up to about 750 so I can get a nice interest rate on refinance. I'm thinking of refinancing 100K of my debt. Hopefully Kamala forgives some of my debt (please). Can you critique my attack plan? This will take about ten years, but hopefully less if I work hard and earn a higher salary via bonuses. [link] [comments]  |
| Do your forbearances reset if you change services? Posted: 04 Aug 2021 07:18 PM PDT I am being switched from FedLoan to a new servicer since they are no longer servicing loans. Does that mean my forbearances will be reset too and my loan will start fresh kind of like when you consolidate? Does anyone know? [link] [comments]  |
| Posted: 04 Aug 2021 05:43 PM PDT I am 28, make decent money, and my credit is in the 700's. Why I cannot get any loans without a cosigner is beyond me, but specifically with FAFSA money, All I am being offered at two different school or the same program is the amount to cover classes/classroom expenses. Nothing offered for living expenses whatsoever, and I can't understand why. Is it possible it's because it's an online only program, and not in person? My fiancé is currently school and has nearly the same economic circumstances as me, yet she was able tog et $50k this year, while I'm only getting offered $19k. I'm at a complete loss as to how I can go back to get my bachelors at this point. [link] [comments]  |
| Why Does Navient (Dept. of ED Loan) want my Gross Income? Posted: 04 Aug 2021 09:14 PM PDT I searched for awhile and don't remember of the results citing gross income. For example, in the PAYE repayment calculator I was asked for AGI, "household income," there was a mention of "discretionary income," but the rep. at Navient over-emphasized "gross income." Is that what they are going to use to determine my payment? How am I suppose to pay if my net income is less than zero? My adjusted gross income this year will be zero unless things change for the better, which I doubt. What options do I have? I'm self-employed. [link] [comments]  |
| Question about part time status and loan repayment Posted: 04 Aug 2021 02:35 PM PDT Hello everyone, I was wondering if anyone has gone through something similar. I am taking two courses next semester however they are at different colleges. In total I am considered half time, but I'm not sure if it will transition to my loans to defer them since they are at different institutions. Anyone have any experience with this? Do your student loans still get deferred? [link] [comments]  |
| Posted: 04 Aug 2021 09:57 AM PDT My dad is in the early stages of a cancer diagnosis. As of early looks, he most likely has 20% 5 year life expectancy, but it could be better or worst depending on some tests he has this week. I have about $25k in parent plus loans in his name. I have been the person making payments since I graduated. I know there is a cancer forbearance and that these loans will be forgiven if he were to pass. My original plan would have these payed off in the 5 year time frame, but now I'm not sure what to do. Has anyone been through a similar situation? Also, I'm sorry if this comes off as me prioritizing the wrong thing, I'm just trying to keep my mind distracted. [link] [comments]  |
| Posted: 04 Aug 2021 07:56 PM PDT |
| Posted: 04 Aug 2021 11:52 AM PDT I have a $32k income and 80k in private student loans and $20k in federal. Great, fine. All is going well while I'm in school and when I'm in that 6 month grace period, then I have to start paying. I'm putting myself into credit card debt to pay my student loans because I still have living expenses for about a month, then I find out I can forbear because of covid. That's what I've been doing, and I start a certificate program this month and was under the impression I could defer again. Once I have this certificate I should be able to get a substantial raise or a job somewhere else for more money. It's a year long program. Turns out it's a non credit program so I can't defer! And I'll have to start paying federal next month too, and have to take out another loan for the certificate program which apparently can't be a student loan because it's a non credit program. None of the expenses I currently have are flexible at all and there is nothing I can cut out-- I've already done everything I can do reduce my expenses. My loans are half of my income. I can't pick up a side job because I'm going to be completing this certificate program while working a full time job. What do I do to survive this next year? Is there any technicality I can get a referral on? I'm pretty confident I'll have a substantial increase in income after this program, but I have to survive until then..... Edit: I don't have a cosigner, I'm on REPAYE for federal, and I have the lowest available refi rate over 20 years. I am just trying not to completely destroy my credit score by not being able to pay for a year :( [link] [comments]  |
| FASFA funding fell through, now considering self funding and private loans Posted: 04 Aug 2021 12:37 PM PDT I am supposed to start my Msc. in Politics of Asia this September but last week learned that my school, SOAS in London, failed to renew their FASFA license (I didn't even know this was a thing) and federal funding will be unavailable at the start of the school year. Potentially it could be renewed in time for January, but they aren't making promises. To compensate students, the university is offering a £8,000 (~ $11,112) tuition reduction for those who applied for funding through FASFA. I was planning on using the Grad PLUS loan. My degree is a one-year program that would cost £22,840 (~ $31,728), or £14,840 (~ $20,615) after the tuition reduction. The housing I had lined up would be £8,860 (~ $12,308) for a year. Totaling in at £23,700 (~ $32,923), not including books, public transit, NHS surcharge, school supplies, and living expenses. Currently I have about $15,000 invested into Mutual Funds and stocks and was planning on selling my car before moving, and according to Kelly Bluebook I could sell in the ballpark of $10,000. I have a couple thousand dollars in cash saved up that I planned to support myself while in London until I get a job. After I received the news about being unable to secure federal funding, I became pretty defeated and shunned the idea of private loans. My initial plan was to pay the entirety of my degree with federal loans and used what I had invested and saved to pay it back while job searching, and then transitioning to paying from my income. I became pretty set on not going, but after about a week of it all setting in I'm having second thoughts about taking out a private loan. I've already suspended my housing contract (there was a clause that I would have had to pay rent on it until they found someone else if I didn't suspend it 45 days before the move in day, I suspended it 50 days before) and initiated rejecting my offer of study at SOAS but haven't finalized it. The housing company I was going to live with still has openings, and I those at SOAS I've been in contact said to reach out if I wish to reconsider. Now to the meat of this post: my gut tells me not to get any sort of private loans, my other gut tells me to use my savings/investments/profits from selling car (~ $25,000) to pay the majority of the degree and get a $10,000 loan to cover the remaining tuition/housing (~ $8,000) as well as other educational expenses. Right now I've only really looked at College Ave and Sallie Mae. I'm spending the day looking at other providers as well. I realize this is not anywhere near as much as some of y'all are currently paying off or applying for, I'm incredibly lucky to be able to self-fund so much of this degree, but I'm scared. On one hand, I don't want to put myself into debt and on the other I really want to attend SOAS. Any advice would be appreciated. [link] [comments]  |
| Why are my payments being applied to interest? Posted: 04 Aug 2021 04:22 PM PDT I'm confused. When I log into nelnet it says my payments are being applied to interest. Since no interest is accumulating at this time, is that even supposed to be happening? Is there a way I can change it to principal? Am I missing something? [link] [comments]  |
| Student loan forgiveness phone calls Posted: 04 Aug 2021 11:48 AM PDT Is it common to receive these phone calls? I don't have any loans but after all these phone calls, I feel like I should check if I have any [link] [comments]  |
| Student Loans for Fall of 2020 Posted: 04 Aug 2021 03:16 PM PDT I graduated in December of 2020 and was planning on getting a federal loan to pay for my last semester, but that fell through. Now I'm trying to get a private loan but none that I've seen offer anything for fall of 2020 payments. Does anyone know some that do payout for fall of 2020? [link] [comments]  |
| Borrower's Defense Case - Brown Mackie.. Posted: 04 Aug 2021 08:37 AM PDT The year I started at Brown Mackie was the year the lawsuit happened, I was under the impression that they'd be automatically dismissed (I was 19.. very uneducated on the system). I recently applied for the BDC. With that being said, how long does it take for one to process? I'm almost to a month with no movement. It just says "Pending" on the Student Aid website. [link] [comments]  |
| Posted: 04 Aug 2021 01:44 PM PDT So I'm starting an associates degree program and I'm not eligible for financial aid this year. I pay about 3k a semester and I pay half out of pocket without an issue but the rest may cause some problems. Would it be smart to take out a private student loan with my bank for about 2k? I already have 30k in debt because of my bachelors so I'm unsure what to do. [link] [comments]  |
| Non Federal Student Loans for Community College? Posted: 04 Aug 2021 01:15 PM PDT Does anyone know any private lenders who offer student loans to a community college student? I don't meet the SAP to qualify for federal financial aid this upcoming semester. Discover Student Loans was my first option, but they don't loan for community college. [link] [comments]  |
| Posted: 04 Aug 2021 12:46 PM PDT Both my husband and I's recertifications were due shortly after everything were put into forbearance last year so we didn't have to submit. Now our payments are meant to restart in October and November but I still don't see an option for recertification. Am I missing something? Our family size changed and a recert would certainly help our monthly amount due. [link] [comments]  |
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