People who have had large amounts of student debt paid off quickly: how did you manage to do it? Student Loans

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• People who have had large amounts of student debt paid off quickly: how did you manage to do it?
• We are all being scammed
• $73k debt
• For those who feel they’ve been scammed..
• Minimum Credit Score for a Student Loan?
• no credit
• What kind of credit score and yearly income do I need to refinance an 80k debt?
• Which tax Return Do I have to use for REPAYE / PAYE in February?
• Missed payments on credit report
• IDR Plans/“New Borrower”

People who have had large amounts of student debt paid off quickly: how did you manage to do it? Posted: 18 Sep 2021 04:53 PM PDT I've heard of some people paying off $150k worth of student loans in 3 years and I always scratch my head thinking how? submitted by /u/IHaveAQuestion04 [link] [comments]

We are all being scammed Posted: 18 Sep 2021 05:30 AM PDT I like many of you have a large amount of student loans, and my belief is that universities are at the top of the list of corrupted institutions. The federal government started directly loaning to students. The government removed the banks which were responsible for gauging the ROI on the loan. As a result, universities spiked their tuitions, knowing that the government would give a loan to anyone that asked for one. You cannot declare bankruptcy. I would consider loan interest payments as a toll tax prto enter the professional job field, The government removed banking institutions in 2010 after the housing market crash of 2008. Since then have you noticed an increase in construction on your respective campuses? The contracting and construction industries in small college towns would have failed, if universities did not receive large capital infusions to build buildings students rarely utilize. The advancement of technology has made then dissemination of information much easier. Universities used to be a marketplace where students willing to learn could pay for access to teachers and books in libraries. A physical location is no longer needed. The price of education should drop as a result of advancement in technology. All you need is a computer and WiFi Professors are also a handicapped. In order to be a professor, you have to work at a university. That is simply not the case anymore. If a certification system was set up, professors could get certified and create their own private institutions centered around their specialty. For example 6 IT professors could form their own partnership and students could seek out the most advantageous program to suit their needs. Read your college or university mission statement, and see if they are sticking to their mission. A lot of institutions have ventured out into economic and real estate development with our loan money thus increasing dramatic growth in their endowments. These institutions' financial irresponsibility was exposed during COVID, because a lot of students opted to take a year off so universities struggled financially as a result of the government turning off the money hose. We, who took out loans and were told a college degree would lead to financial stability, were conned by our own government. The American dream is only for those wealthy enough to buy the dream. For the rest of us it's a nightmare. Instead of asking how we going to pay these loans back, we should be questioning the universities and the government who have done nothing but increase the wealth divide in our country. I have called my university's president and told him he is running a racket. I have posted on my universities social media accounts calling them out for unethical practices at the least and possibly fraud through market making between the universities and government. We need to turn up the pressure on them, and not blame ourselves submitted by /u/josephmb66 [link] [comments]

$73k debt Posted: 19 Sep 2021 01:25 AM PDT I have $46k in direct unsubsidized loans and $27k in PLUS loans. Which should I tackle first? I'm thinking the PLUS since it's higher interest. I will make $55k in the next 7 months (7 month contract job) plus with $4-5k untaxed tuition reimbursement (from my new job). I plan to throw it all at my loans because I'll be living at home. I'll find another contract job for 3 months and I'm anticipating it to pay $1600-$1800/week. Will I be on track to pay my debt in 1.5 years or less? I'm hoping to also find a PRN job to do over the weekends but I am not sure how feasible that is for me. Thank you all! To add: I plan on paying the max I can monthly while leaving maybe $100-200 a month for me Atleast while I'm living at my parents. submitted by /u/healthyalmondip [link] [comments]

For those who feel they’ve been scammed.. Posted: 18 Sep 2021 09:31 AM PDT Just curious about the stories of people who feel like they've been scammed? Did a school actively mislead or lie to you? I know that a lot of for-profit schools have used this tactic to boost enrollment however I'm really surprised people are still pay tons of money to go to these schools. If you go to one of these schools can you explain why? Why hasn't the government shut them down yet? This is probably one of the biggest issues for the debt crisis. submitted by /u/throwaway60992 [link] [comments]

Minimum Credit Score for a Student Loan? Posted: 18 Sep 2021 12:08 PM PDT My credit score is 659 and am taking a gap year before planning on taking out a private loan for nursing. Has anyone had any success with obtaining a private loan with a similar credit score? Disclaimer: I do not have a co-signer. Only asking for those who were approved WITHOUT A CO-SIGNER. submitted by /u/implathszombie [link] [comments]

no credit Posted: 18 Sep 2021 07:09 PM PDT so i have no credit and it's very dumb of me as i was told to build … i have two years left of school and plan to get my credit card ASAP(i have a job as well) will this affect me later on since i'm building in 2 years ? edit : will this affect me on with my loans what soever ? submitted by /u/PanicMission4758 [link] [comments]

What kind of credit score and yearly income do I need to refinance an 80k debt? Posted: 18 Sep 2021 05:54 PM PDT Hello! I have been trying to refinance my student loans for a few years now, but keep getting rejected. Even if I offer to refinance with a cosigner, I have been rejected. I have gotten better jobs, raised my credit score by 50 points, but still I feel like I'm not checking whatever boxes the loan lenders are looking for. Ideally, I'd like to refinance without a cosigner (would be great to sever the tie with my dad who's always asking me about my financials ). What kind of credit score should I be aiming for ? What kind of yearly income? I'm trying to refinance 80k with Sallie Mae- what do these refinancers want from me? Much easier to meet a goal when you know what it is. So far I've tried a few banks, including Discover and Citizens Bank. Any other recommendations? submitted by /u/shark_marks [link] [comments]

Which tax Return Do I have to use for REPAYE / PAYE in February? Posted: 18 Sep 2021 10:03 AM PDT I have well over six figures in Federal consolidated loans. And I am an older adult (went back to grad school in my 40s) I haven't made payments in the last 4 years (forbearance). I plan to start in Feb. I am doing my taxes now for 2020 (due date Oct 15). I work on commission so my income fluctuates). in 2020 I earned 100K and my wife earned 25K. So its looking like an AGI of 125K for 2020 (we have no deductions). This year (2021) we were much smarter. My wife is depositing her entire paycheck into a 401K, and We both are maxing out IRA's/ Hopefully we will have an AGI around 100K for 2021 :) Is there any way to use the projected 2021 income when the Pandemic Forbearance ends in Jan? My main concern now is the lowest monthly payment. Living in NYC, where the cost of living is through the roof, I can. not afford to pay anywhere near what they are asking on the standard repayment models. I am also thinking, would we be better off filing separately just for 2020 perhaps? Not sure of that will kill me on income taxes though. I heard talk that Biden was trying to reduce the 10% of discretionary income for payments down to $5%. That would be great. submitted by /u/NYCHAMGUY [link] [comments]

Missed payments on credit report Posted: 18 Sep 2021 08:02 AM PDT Anybody know how to get your missed payments paid and go away on on credit report? I am trying to clean my credit up! I owe 11,000 28 missed payment 104 on-time payments. submitted by /u/codyrhoton45 [link] [comments]

IDR Plans/“New Borrower” Posted: 18 Sep 2021 08:30 AM PDT I'm a relative dinosaur who has a subsidized loan as old as 2006. I worked between undergrad and grad school and payed off my unsubsidized loans, but am well over 6-figures in debt, all fed loans. I am on IBR with 15% of "discretionary income" payments. Been in the plan for 5 years. Although only $500 of the $30k+ I've paid in those years went to principal, it's about a coin flip whether it takes me the full 25 years/ get forgiveness. I don't qualify for the other, better IDR because I first took out a loan (my remaining baby undergrad loans) prior to whatever date is applicable for some of the other programs. (For the purposes of this advice, assume the 10-year public service forgiveness is off the table. It's not, but I am aware of it and would need to be on an IDR anyway.) Although I'd lose the 5 years I made payments, if I paid off the relatively small amounts from my undergrad loans, would I then qualify for better IDR plans? Would "they" know if hypothetically my servicer is changing and the last time that happened to me the new server knew absolutely nothing about my loans. There's some pending negotiated rule making happening, and I hope and will try to push for new programs that apply to all borrowers. I don't understand why dinosaurs like me were excluded from the newer IDR plans (like the reason/policy behind it), so I'll take those explanations as well if you know. Thanks! submitted by /u/Impressive_Yam_8700 [link] [comments]

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