Could we make PSLF program 5 years instead of 10? Student Loans |
- Could we make PSLF program 5 years instead of 10?
- For federal loans, has anyone successfully enrolled in autopay and received a 0.25% interest reduction?
- Need Advice - 0 payments on my loans and I make over $100,000/year
- I hate student loans but wouldn’t be where I am without them
- Should I pay off my defaulted loans in full?
- Who qualifies for Bidens Disability discharge of student loans?
- New Scam/Spam Calls
- If I Choose REPAYE can I switch to a different plan latter?
- grants covering my tuition, accept the subsidized loan?
- COVID pause affecting credit score?
- In IBR, do payments made in forebearance count as qualifying monthly payments?
- Anyone ever had a "discrepancy" when applying for a Discover loan?
- Are student loans a good option for me? (Struggling to work and study with chronic pain)
- CARES Act Employer Student Loan Repayment question
- TPD Discharge
- How do I find the loans I owe on?
- Question about Loan options gor international students
- Help
- How do I apply for loans without screwing myself over
| Could we make PSLF program 5 years instead of 10? Posted: 03 Sep 2021 02:14 PM PDT I've lost all hope for student loan forgiveness…but wondering if there's political support to at LEAST reduce The length for PSLF program to 5 or 7 years instead of 10? What would it take to push this idea forward? [link] [comments]  |
| Posted: 03 Sep 2021 04:33 PM PDT
For context: I'm on standard repayment plan. Servicer is OSLA. Loans average out to 6.3% interest. I don't particularly like autopay (lots admin-related bumps & surrender), but if the process is worth it to receive .25% reduction, I'd heavily consider. Thank you kindly! [link] [comments]  |
| Need Advice - 0 payments on my loans and I make over $100,000/year Posted: 03 Sep 2021 08:50 PM PDT I have never made a student loan payment, ever. I was hoping to get some advice regarding my options for getting out of default. First, a little background (without giving too much away):
"the why?" regarding my decision not to ever pay?- lets just call it being young and potentially an attitude that lead to thinking it might not even be a factor later on in life. Why have I never been garnished or hounded by creditors? - I have absolutely no idea. Literally days after finishing my last semester I went to work for a government agency for several years (mostly in the states, but some overseas.) For reasons, I never formally submitted my application for graduation. My university eventually did it for me, but not until maybe 2 years later. Not sure if this played a role in me appearing to have escaped garnishment. The outstanding debt did not even show up on my credit report until a few years later. I understand that my options are consolidation or rehabilitation. However, I want to be thoughtful on how I proceed. As I said, I don't receive debt calls and I've never been garnished. I have the information on who owns the debt currently. How should I proceed considering I want to qualify for a mortgage. Can merely contacting them trigger garnishment? [link] [comments]  |
| I hate student loans but wouldn’t be where I am without them Posted: 03 Sep 2021 10:33 PM PDT My parents couldn't afford to pay for college or law school. Without the ability to take on student debt, I could not have afforded my tuition. However, now that I'm out of school, I compare myself to my classmates and colleagues without student debt and feel inferior. I resent the significant opportunity cost of paying off my student loans. It's a balance. I'm torn between hating student debt for the financial hole it's caused, and knowing I willingly accepted student loans and wouldn't have the job or career I do without them. [link] [comments]  |
| Should I pay off my defaulted loans in full? Posted: 03 Sep 2021 06:26 PM PDT I have 8.5k of FFELP Stafford loans (unsubsidized and subsidized) from my first round of college in 2006. Both these loans show entering "default (DF)" in 2013 and "default (DU)" in 2019 on studentaid.gov. I've since gone back to school for a significantly more lucrative career, and have the ability to pay these off completely today. The rest of my masters courses will be paid for by the company which is hiring me. When I generate a credit report with Experian, it shows I do not have enough credit history to generate a score. I was just approved for a Discover It Secured card (I've been using my debit card exclusively for years). I'll need to purchase a car within the next 3 months for work. The question I have is whether I should go through loan rehabilitation, or pay my defaulted student loans in full. I would assume I don't have any history of late payments since the loans went into default 8 years ago (Oregon btw, 6yr statute of limitations for most things), but it would be good to remove a history of default. Which would provide the most benefit? [link] [comments]  |
| Who qualifies for Bidens Disability discharge of student loans? Posted: 03 Sep 2021 03:54 PM PDT Im on SSI and have 100 grand in student loans and currently in the disability discharge phase and need to wait 3 years. I have a 1 year review period, not the 5-7 year period as stated who qualifies. Isnt everyone on disability on permanent and total disability status? Do I find this from my doc? I called up SS but they knew nothing of the student loan disability forgiveness thing. [link] [comments]  |
| Posted: 03 Sep 2021 11:06 PM PDT First post ever but thought it might be worthwhile — For some very brief context, I'm very aware of emails/calls/texts/etc that are scams, they're usually filled with the stereotypical grammatical errors or whatever it may be that immediately stick out. I delete them alllll immediately. I wanted to share because I got the first ever scam call that got me to listen through. Said her name was Sarah calling about my eligibility for student loan forgiveness blah blah blah. Maybe I'm getting old, but this sounded pretty legit for at least half of it — I've been researching student loans recently and I've seen some news about people legitimately getting forgiveness this past year, so it seemed a little too convenient, but also what I needed right now, hence my listening in a state of vulnerability. Just figured I'd try and get something out there to remind everyone: the government doesn't call you. really ever. They're getting uber-specific through cookies or whatever it may be, but please be wary. I know now more of us than ever are financially insecure but stay safe out here folks! tldr: scam calls are getting really personalized and some of the new ones are based on student loan forgiveness — don't fall for it pls edited/reposted for profanity lol [link] [comments]  |
| If I Choose REPAYE can I switch to a different plan latter? Posted: 03 Sep 2021 09:28 PM PDT I have well over six figures in student loans. Granted I make 130k a year but with mortgage, cars, kids in school, etc its not a high income. Especially in NYC. Anyway, if I choose REPAYE plan in January to get the lowest possible payment, can I change to a different repayment plan in the future? Also, how do I prove my income each year? Do I sent in a copy of my tax return? What month do I do that? So I assume in Jan I send in my 2021 return (I will get it done early). I work in sales and part of my income is commission so it does fluctuate year to year. Do I recertify in January every year to lock in the payment for the new year? I am trying to max out 401K and IRA contributions to keep my AGI as low as possible. We file a joint return, my wife's income is much lower than mine but she has no student loans. I am almost 50, I went back to school for my Masters late in life. I realize at this point I will likely be paying off these loans for the rest of my life. [link] [comments]  |
| grants covering my tuition, accept the subsidized loan? Posted: 03 Sep 2021 02:23 PM PDT Hello, I start school at University of Washington in the Fall. I am working full-time, and received a pell grant and a state grant that pretty much covers the tuition for the year 2021-22. My question is... Should I "reject" or "accept" the subsidized loans and/or unsubsidized loans. My thought was to use my pell grant/state grant covers my tuition. If I had excess school expenses and eating, I planned to cover it with my income. I guess, I never know what money issue I may experience, so an extra student loan through subsidized loan may be nice. I wonder if you would take the subsidized loan just in case. Thank you! [link] [comments]  |
| COVID pause affecting credit score? Posted: 03 Sep 2021 10:34 AM PDT Throughout the pandemic, I've been setting aside the money I would have put into my student loans instead of paying them down, so that I could build interest on the money and so that I would have extra savings in case the pandemic impacted my job. When I look at my FICO score though, it is saying the number one thing that is keeping my credit score down is that my proportion of loan balances to loan amounts is too high. I'd been using a debt avalanche method, so I paid off my highest interest loan right before the pandemic and my other two loans are still at ~95% of the original loan amount, since I haven't been paying them down during the COVID pause. I want to have as good a credit score as possible as I'm looking at buying a home in the next 6-12 months. Should I be paying down my student loans instead of setting the money aside to bear interest? During the pandemic, I've set aside enough money to pay off roughly a third of my remaining loans. [link] [comments]  |
| In IBR, do payments made in forebearance count as qualifying monthly payments? Posted: 03 Sep 2021 07:29 PM PDT Required payment is $0 while in national forebearance. Can I pay more than that and have that month count as a qualifying repayment month up to the 240 months I am required to pay for? I have not found much documentation that talks about payments in forebearance and qualifying repayment months. [link] [comments]  |
| Anyone ever had a "discrepancy" when applying for a Discover loan? Posted: 03 Sep 2021 07:27 PM PDT This is my 4th time borrowing from them, I filled out the online app instead of calling in like I usually do and now I have to call back on Tuesday to speak with a specialist. Yuck! Has this ever happened to anyone? I have no idea what it could be and of course it's a holiday weekend. [link] [comments]  |
| Are student loans a good option for me? (Struggling to work and study with chronic pain) Posted: 03 Sep 2021 05:18 PM PDT I'm working retail, I have fibromyalgia, and I'm taking 17 credits in college. I can manage two of those things, but not all three. I'm at my breaking point, physically and mentally. My parents refused to fill out the FAFSA, so I am not receiving any financial aid this year -- I may be able to get them to fill it out next year, but I'm not counting on it. I've looked everywhere for jobs I can handle, but it's basically impossible, especially with my course load, which I can't reduce. I am still living with my parents, so at least I don't have to pay for rent/housing. Essentially, work is gonna have to go, at least for this academic year. I'm studying to be a software engineer, so hopefully I can make decent money after I graduate in order to pay off potential loans, which leads me to my main point/question. Are student loans a good idea for me? If so, what options should I look into? If anyone else has gone through something similar, I'd love to hear your advice. Thanks! [link] [comments]  |
| CARES Act Employer Student Loan Repayment question Posted: 03 Sep 2021 01:11 PM PDT Hello, back again for more advice :) I've been reading about Section 2206 of the CARES Act that allows employers to pay up to $5250 of employees' student loan debt per year, tax free for both the employer and employee. There is a restriction that the benefit can not go to the owner of the company. In my case, I am self employed and own my S-Corp. I also have a friend who is in the same situation. We are both private practice physicians and have a lot of student loan debt. Can we hire each other as W-2 employees of the other guy's business for a minimal salary? Then each pay $5250 towards the other guy's student loans? Would the $5250 going out of the business be tax free, as well as the $5250 coming into our personal account from the other guy's business? If so, it has the potential to save us around $4k/year on taxes. Would it be possible to have this arrangement with more than one person per year? Thanks. [link] [comments]  |
| Posted: 03 Sep 2021 07:38 AM PDT I was recently upgraded to 100% T&PD through the VA. Applied for the TPD Discharge and was approved. Just checked and all the interest on my loans are gone but the loans are still there. Do they have to clear the interest before they can discharge the loans? I worry a lot and saw this as potentially only discharging the interest? I'd love to hear how the discharge happened for others so I know what to expect. If this actually happens it will be a huge financial burden lifted off of my family. Thanks for your advice and help in advance! [link] [comments]  |
| How do I find the loans I owe on? Posted: 03 Sep 2021 09:21 AM PDT I am not sure if this is the right place, but here it goes. I didn't graduate from school and literally moved half way across the county to avoid the fallout. (I think I was depressed and was too ashamed to seek help. It was in 2010/2011, there was still a stigma around mental health where I lived in the U.S.) It's 10 years later and I am getting my life together. A majority of my student loans are off my credit report (I have 4 small ones that are showing up, so I can easily track those). I had my mail forwarded to me in 2011, so I still have the paperwork from the student loan company and can trace it that way as well. I just don't want to start at a consolidation company or get a loan to pay them off and have them pop up later in life. (I am not an expert in the process, but I heard that's what some of my peers do, I believe?) I am ashamed and not proud of running from my responsibilities, but I want to fix it now. I am going back to school so I can get a better paying job and just read how some companies are paying towards student loans, so I will be talking to my HR about that in the next few weeks. My $45,000 original amount grew to $65,000, that much I do know. [link] [comments]  |
| Question about Loan options gor international students Posted: 03 Sep 2021 07:38 AM PDT Hey all, I am currently trying to plan getting a degree in the US (Associates degree at a community College) and i have hit kind of a wall when it comes to finances, since as a foreign student to apply i will have to proove upfront my ability to pay for a year of studying and living there. My fiancee is a US citizen, living in the Area and would support me to the best of her ability, including co-signing a loan. My main issue right now is that i struggle to find relevant resources and options on my own so i thought i would ask you guys to see if i can get any pointers whatsoever. thanks in advance for any and all help. [link] [comments]  |
| Posted: 03 Sep 2021 07:15 AM PDT Hi, I am a graduate student at the University of Central Florida. I recieved an Unsubsidized grad loan of $10,250.00 for the Fall 2021 semester. My overall tuition was $9,892.00. Anything else was paid out of pocket. I recieved a refund of $250.00, but I should have received a refund of $358.00. When I called the UCF financial aid office, they said the $108.00 was fees for taking the loans applied by the loan provider. Is this BS? The fees aren't listed on my school account and my FedLoan account is showing that I borrowed the full $10,250.00 amount. [link] [comments]  |
| How do I apply for loans without screwing myself over Posted: 03 Sep 2021 06:07 AM PDT My parents have refused to fill out my FAFSA for years and now that I'm in Uni I'm no longer in a place where I can work full time and save up. I do not have enough money to cover my payment next month. Where are the safest places to apply for loans? I know Sallie Mae is the devil just from what I've seen. What do you do if the only advice the finance office gives you is "come back when you're 25"? My school doesn't allow gap years and currently live in the dorms with no other housing options. Scholarships online are all information stealing scams and I'm just exhausted. Im an animation major, so there's few scholarships that I count towards. I can't be emancipated. I don't know what to do. [link] [comments]  |
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