Paid off 12k in CC debt while on payment pause. I’m so greatful Student Loans |
- Paid off 12k in CC debt while on payment pause. I’m so greatful
- Pandemic Payoff
- Extend Grace Period?
- Where did you take your loans out from and how did you use them?
- email saying my grace period ends but i’m currently in school?
- A question I’ve had for years is will the federal government ever do anything about private student loans?
- Difference Between FAFSA and Federal Student Loans?
- needing loans
- I can’t afford to finish my degree and I feel like a failure.
- Student Loan Repayment Resources?
- MOHELA Student loan date hasnt changed?
- Student Loan Payments Starting Early?...
- Does anyone have experience with Perkins Loan Forgiveness?
- Navigating friendships while paying off loans?
- Federal Student Loans
- Wondering if I qualify for the new ITT-Tech Student Loan Forgiveness.
- Student Debt Refinancing
- NOT TRUE TO THEIR WORDS
- Student loans-do not know how to pay?
- My license was stolen and returned a week later.
- What happens if I use federal direct subsidized and unsubsidized loans for just one year?
- Deferment for direct consolidation loans?
| Paid off 12k in CC debt while on payment pause. I’m so greatful Posted: 01 Sep 2021 10:57 AM PDT I got in CC debt due to some unforeseen circumstances. For 3 years prior to the payment freeze I felt I was never going to get out of debt. I had 12k in CC debt, car loan , daycare payments and 107k in student loan. I was focusing more on the CC debt and paying the min on my student loans barely getting into my principal. I felt like I was going to drown. Because of this freeze I decided to not pay my studentloans and dig deep into my CC debt. This month I have paid it all off and my car loan completed (bonus!) now I'm going to stick to a 10 year plan to repay my loans. This relief did really help my family and I. [link] [comments]  |
| Posted: 01 Sep 2021 03:37 PM PDT Today I paid off the last of my 36k student loan after 5 years. Paid roughly 9k in interest. FedLoan Servicing (Pennsylvania Higher Ed) contract ending motivated me to pay this off sooner so that I do not have to deal with another company. I have a bachelor and masters degree in statistics. Went to public university in Florida. My sister and I are first in the family to get a degree. Student loans helped me get where I am today, but it sure does feel good to not have that debt. Cheers y'all! [link] [comments]  |
| Posted: 01 Sep 2021 10:16 PM PDT I just graduated this Spring 21 and i plan to work for about 1-1.5 years to save up for grad school. I know after grace period of 6 months they start making you pay loans. Is there a way to defer it until then, or when i get into grad school later will it pause the payments? Or will i have to contact someone to have it paused? Thanks. [link] [comments]  |
| Where did you take your loans out from and how did you use them? Posted: 01 Sep 2021 10:55 PM PDT Next semester I will be transferring to cal state Fullerton and will have to move out there due to a job transfer, family issues, and potential internships. It seems between tuition and rent I will need 21,000+ a year while I pay for books, food, etc myself. I will try to pay for winter and summer classes myself as well. For reference I work roughly 30 hours a week and only take home about 1800-2k a month and I pay about 400 for my car/insurance. I believe I can qualify for a few thousand in government loans but my family brings in too much money despite me being fully independent. Therefore to graduate within 2 years I'll need 42,000 dollars in loans obviously potential for more if needed. Where should I even turn to and how do I even get the ball rolling? For reference my field of study is supply chain management and have offers from my current company at 64k a year with a degree. How did you do it and what should I do? Thanks in advance I truly appreciate your input [link] [comments]  |
| email saying my grace period ends but i’m currently in school? Posted: 01 Sep 2021 07:08 PM PDT I received an email saying my grace period will end in 2 months but i checked my account and it says in February of 2022. which still doesn't make sense as i'm currently in college? i transferred this semester so maybe it hasn't updated but am freaking out. would love to know if this has happened to others. definitely calling in the morning. [link] [comments]  |
| Posted: 02 Sep 2021 12:24 AM PDT The benefits I'm hearing about all over the internet are all fantastic, but the truth is only 25% of my loans are federal. Wells Fargo is collecting over 70k of my 100k in debt because the fed government doesn't give enough for a full semester. I guess my post is to see what the Reddit community has to say about the potential benefits in the future for the poor suckers like me who owe a bank (not the government). I understand and have fully utilized covid plans and other payment plans that Lower my payment but 650$ a month after refinancing with a perfect credit score seems like a form of castration for my future as a baccalaureate [link] [comments]  |
| Difference Between FAFSA and Federal Student Loans? Posted: 01 Sep 2021 07:18 PM PDT Hello, first time college student here. I was speaking to my school, and they said that they haven't received my FAFSA yet, but it is estimated that I would be qualified to receive 2500ish from the pell grant, and another 2500 from the college loans. That covers $5000 of the $8900 a term tuition, and upon further research, I keep seeing 'Federal Student Loans' thrown around. Is FSL different from FAFSA? The financial consultant said that I could possibly qualify for more grants than just the Pell when the FAFSA returns, but if I don't... how exactly would I go about getting federal student loans? If I can at all? As someone with no cosigner and not the best credit, I'm avoiding turning to private companies best I can. If I don't have the best understanding of what FAFSA is, please educate me on it. [link] [comments]  |
| Posted: 01 Sep 2021 06:45 PM PDT starting my sophomore year of college. needing loans to pay for this year. i received no financial aid from my school nor fafsa, due to my efc being high. my father was the only parent working and brought in only 56k. i've talked to the fa and they told me they can't help. so ig loans are my last resort. didn't get enough loans from school to even cover my tuition so i have to seek else where for loan. what would be my best bet on getting a student loan from? any other help would be much appreciated as well! [link] [comments]  |
| I can’t afford to finish my degree and I feel like a failure. Posted: 01 Sep 2021 06:20 PM PDT I've been attending college for 4 years now (not including my AP and concurrent enrollment classes in high school). College has always been mine and my family's top priority. My mother is single and disabled, we constantly relied on government assistance and I was supporting myself the majority of my childhood. A life free of worry about assistance or money is what fueled me to get a full time job at 14 in jr high school along with being put into accelerated learning programs, AP, concurrent enrollment, National Honors Society and other programs to get as many credits and gold stars on my college application as possible. I was driven to succeed to have a life for myself that no one else in my family has had. With a full time job and school, I pushed myself and made it on the deans list, was awarded an academic award of excellence, got some college credits, and landed a great GPA with good scholarship opportunities when I graduated high school. When I finally began my college journey, I tested the waters and transferred from one school to another (the first college I went to I didn't enjoy the major I was in and hated the town, the second school I went to increased tuition by thousands of dollars). I lost my high school senior scholarships after I bounced around to find the right school for me. I decided to go back to my hometown state university, which was not what I had wanted my college experience to be like, but I knew it would be affordable and they have a decent program, and it would be easy to transfer credits to. In 2020 I got married to an Indian immigrant, we are still going through the green card process which is taking a considerable amount of money for us. For my 2021 FAFSA application, they included my partners tax info from 2019 even though we were not married until the next year (???) Because of this, I cannot receive any FAFSA grants from my university because my partner is a college graduate with a career making good money. While this is great, it greatly impacted my financial aid eligibility from this year forward. I currently have $15k in student loans from the few semesters I completed, but now instead of FAFSA covering the majority and using $500 loans to cover the rest, each semester I will have to take out $6k in loans. By the time I graduate I calculated I will have $40k in loans. This will take the majority of my life to repay. I feel like I've put so much hard work and tears into this degree so far, just for it to suddenly crash in front of me. It feels like a distant dream that I will never be able to make a reality because of my financial situation. Do I get into more debt to finally earn my bachelors degree, or do I cut my losses now and continue working my regular job so that I can save money to without this student loan debt looming over me? I feel really depressed, defeated, alone. While my partner offered to help me with my loans, I can only think that's just more money coming out of our pockets for retirement, for a better apartment, or eventually for our children. I don't know what to do. I don't even expect an answer to my problems. I guess this is just me talking into the void to get this off of my chest. Maybe someone can say something t inspirational or guide me in the right direction. I feel like a failure. [link] [comments]  |
| Student Loan Repayment Resources? Posted: 01 Sep 2021 06:11 PM PDT I need some help, but I suppose that's why most people are here isn't it? Pardon the throwaway account, but you'll understand momentarily (tw: suicide mention). I was a stupid, bright-eyed, optimistic college student once and that ended up with me accumulating $120k in student loan debt with three different private (I think) loan providers—Sallie Mae, Unisa, and Great Lakes. I got two bachelor's degrees to show for it, both in STEM, but the only job I'm able to find is keeping me at $1.5k a month after taxes. I have looked at other jobs—in fact, this is my third in two years, and it's the best I can do (don't go for biology degrees, kids). Of course I can't move to find other jobs, as you'll soon see. I live at home at 27 years old which is just unacceptable in my mind, but I can't afford to move out. I can't consolidate or refinance my loans because my debt to income ratio is so high. Every month I'm making the minimum payments but that doesn't leave me enough to live on and things like gas are more often than not going on my credit card, which now has $3k on it. I'm barely making payments on that. It is going to be maxxed out soon and when that happens I don't know what I'll do. My current expenses are $100/month for car insurance, $200 for gas (I commute to work from the country and public transit is not an option), $50 phone bill, about $100 towards my credit card, $75/month for life insurance (so that if I die my cosigning parents aren't stuck with all my debt), and the rest to student loans. My loans have varying interest rates, with the highest being 13%. Here's where I'm at. This isn't living. I'm single, stuck with my parents, I'm not saving to retire because I *can't*, so I'll be working forever, and my credit score is likely tanking because of this "minimum payment only" thing. I can't travel, I can't even go out to hang with friends because gas money and food money just don't exist. There is a suicide clause in my life insurance policy that says as long as I make the payments on my policy for two years my beneficiaries will still get the full payout if I off myself. That two years is coming up soon. This feels like my only option. I don't want to do it, believe me, but I'm drowning in debt, my life is unfulfilling and not worth living because of my situation, and I see no way out. Staying alive to please others when I'm not living is incredibly upsetting. Don't *my* feelings matter? Is there anything—anything—that I can do? Are there resources out there that can help me get control of my finances? I don't know how to cut out anymore expenses. I don't know what else to do. I have no one to go to for financial counseling and my parents have no resources. I see people here have managed to pay off their massive debt and I just…I need help. I need advice before I make the worst decision of my life. Also, I trust your intentions are good, but please don't send/post the Suicide Hotline. This isn't hopelessness borne from mental illness. It is hopelessness because of my situation and you can't talk your way out of that with a minimum-wage employee who's entire schtick is "Go to the emergency room." (And rack up more debt? Sound plan). [link] [comments]  |
| MOHELA Student loan date hasnt changed? Posted: 01 Sep 2021 09:45 PM PDT Hello guys, please help why does MOHELA still saying that my payments is due before Oct, 1 2021. I thought Joe Biden extended it to Jan 31, 2022? I currently dont have a job right now, and trust me I have been busting my ass off trying to get a well paying job. If this is real, am I screwed ?what are my options?, I dont want to go to jail for not paying. I really wanna pay this all off in 1 year or less About me, I have 18,000 in student loans this is for my University. I went to a California Communtiy College for free, and i transferred to a University of California that is when i started taking out loans because Financial Aid didnt cover 100% of my university tuition. My major is Finance, I just graduated March 2021, I am still unemployed since then. My experience is only cashier at grocery store, fast food chain. I dont have internship. However, that Area Manager job is what im interested since they pay well 45K plus a year i think. If ever I get a very high paying job at Amazon as area manager, the way i would pay it is that: Whenever I get paid like lets say 4,500 a month, I would pay the monthly student loan which is 190 dollars, as I do that, I will transfer like 2,500 every month to my savings account for, imma do both of these actions for 10 months straight, once i exceed my 18,000 threshold on my savings account, I will PAY ALL off of the remaining balance in my student loan by taking out whatever the remaining amount of my student loan out of my Savings Account and pay it ALL OFF there [link] [comments]  |
| Student Loan Payments Starting Early?... Posted: 01 Sep 2021 07:04 PM PDT Just got an email from EdFinancial (apparently my school switched to them, didn't even know) saying, "Our records indicate you have approximately two months remaining in your grace period, and will soon begin repayment of your student loan(s)." This would be fine n all if the terms of my loan didn't say that I wouldn't have to start paying as long as I attend at least part time (I've been full time since getting the loan) and that I would have a 1 year grace period after. I emailed both federal-aid for my school and edfinancial, anything else I should do while waiting for a response?? [link] [comments]  |
| Does anyone have experience with Perkins Loan Forgiveness? Posted: 01 Sep 2021 02:51 PM PDT I kinda randomly got a call today about my student loan...obviously I was skeptical because I feel like I get a call once a week about my credit card being "stolen" or the IRS wants to arrest me for such and such. You get the idea. Anyway I called back because I do have a student loan ($70k at this point) and discussed it with the guy who said, even though I only work 25 hours a week for local government that I still qualify. He said after 3 payments of like $250, then (based on my salary and living situation) I would qualify for $40/month for 120 months. Does this seem legit? And if so, what if I leave my government job? -Thanks for any help! [link] [comments]  |
| Navigating friendships while paying off loans? Posted: 01 Sep 2021 04:01 AM PDT Hi All, I graduated in May and just started my first job. It has been my plan for a while to hit the ground running with paying down my overwhelming amount of student loans. I've had conversations over the past few months with my friends about the fact that I'll be really stretching myself thin for a while. "…that means no spontaneous outings, no frivolously going out to eat, etc. for me." I know that people who are true friends will understand and work with me, and all my friends have been pretty supportive of my plans (save for some light comments about wasting my 20s by working my ass off). It makes me sad though. I guess what I'm looking for is personal experiences and how you guys have handled navigating friendships/doing fun things with friends while you stick to your plans. [link] [comments]  |
| Posted: 01 Sep 2021 02:14 PM PDT This might be a dumb question, but how do I find out what my interest rate will be in January on my federal loans? I don't even know if interest is variable or fixed. I'm trying to find all of this info but all it says right now is that the interest rate is 0% (obviously)… help!!! [link] [comments]  |
| Wondering if I qualify for the new ITT-Tech Student Loan Forgiveness. Posted: 01 Sep 2021 04:05 PM PDT Hello everyone I recently heard about a new wave of student loan forgiveness targeting former ITT Tech students and was wondering if I qualify. I think I know my answer but perhaps you guys could show me if/where I'm wrong. It seems like the qualification are the following....
I was enrolled from Sep 2009 to Sep 2012, which fits the timeline. As for completing the degree well that's where things get a bit trickier. How it worked there is everyone enrolls in a broad minor for an associates degree, then when you get it you enroll in your specific major. In my case I minored in Visual Communications, then intended to major in Video Game Design. What ended up happening is right as I was finishing up my minor I had to hear from the other students, not even the school itself, that they decided to drop the video game design major entirely, which of course the administration admitted to when I asked them. They asked me to just enroll into a different major but that is all I wanted to do so I of course refused and dropped out entirely. That being said I do technically have my Associates of Applied Science degree in Visual Communications, but I never got the chance to try for my Bachelors Degree for video game design. So I am guessing that makes me ineligible for the new student loan forgiveness, but perhaps not? Or maybe some of you know some other forgiveness program that I may qualify for? Or even someone else to talk to about this? [link] [comments]  |
| Posted: 01 Sep 2021 01:22 PM PDT So currently I have 100k in student loans at 13% interest rate, private obviously. I also have a 1300 a month mortgage. I was wondering what are the best places to look to refinance at a lower interest rate. My current yearly income is 54k before taxes. I also have no savings or anything, I'm just barely skimming by each month. [link] [comments]  |
| Posted: 01 Sep 2021 04:53 PM PDT Verbiage on their website states a cosigner can be removed at a given time when primary has proved to hold a steady job & continous payments have been made over a period of time. NOPE LIES LIES [link] [comments]  |
| Student loans-do not know how to pay? Posted: 01 Sep 2021 08:02 AM PDT So my partner has roughly 20k in student loans that were in default some years ago, they are/were federal loans. After a while, he stopped getting harrased to pay them, he thought they were sold to another creditor. A couple years ago we started getting serious about buying a house and had our credit checked and the loans on the report said 'paid in full'. We assumed his wealthy family had paid them? But then we tried move to a different apartment that checked credit and there they were again being in default. He called the dept of education and they said that they had been sold but would not tell him to whom. We are at a loss. Has anyone had this problem or have any advice on how to find them? [link] [comments]  |
| My license was stolen and returned a week later. Posted: 01 Sep 2021 05:21 PM PDT I have recently received a note reading "Thank you for your recent Undergraduate Loan application." I am wondering how to process. Thanks. [link] [comments]  |
| What happens if I use federal direct subsidized and unsubsidized loans for just one year? Posted: 01 Sep 2021 09:13 AM PDT I am in my second year of college and was wondering what would happen if I have two loans together just for this year since I won't do the rest of the years. I signed finical aid and have a scholarship. And I didn't sign my federal direct subsidized and unsubsidized loans last year, only this year I might approved them. I'm asking because I have some money to the book store for textbooks. Since I'm only using it this year, what would be for repayment? [link] [comments]  |
| Deferment for direct consolidation loans? Posted: 01 Sep 2021 08:07 AM PDT So I consolidated all my loans after I graduated. A year later I went back part time for another degree. That loan is currently under in school deferment. My prior understanding was that when I graduate from this current program in December, I'd have all the new loans + the direct consolidation loan in a 6 month grace period. I just found out that's wrong? Apparently consolidation loans don't have grace periods? I hadn't planned for that as the consolidated loan is much larger than what I've added from this new degree. Has anyone had luck getting a 6 month forbearance in lieu of the grace period? I am willing to re-consolidate everything if that buys me time. I do have a job right now that I'm working full time but I was hoping to use those six months to save up for a down payment on a house once (if?) the market settles down. Thank you! [link] [comments]  |
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