Repaying my loans after COVID forbearance Student Loans |
- Repaying my loans after COVID forbearance
- Loan Repayment and Credit Score
- Question about Grad PLUS loan and credit (charge off)...
- Experience w/ Teacher Loan Forgiveness
- Need cosigner for next year or just get credit card?
- New to the loan process - which servicer/partner should I go to?
- How much debt is too much? Need advice.
- Making interest-only payments while my loan is in IBR and racking up some sweet tax breaks doing it!
| Repaying my loans after COVID forbearance Posted: 06 Sep 2021 09:10 PM PDT Just wanted to post for accountability and say that tomorrow is my first payment on my student loans since the interest rate pause. As of today I have $42,250 in student loans from a graduate degree, all federal. I have a pretty aggressive repayment goal of March 31, 2022 as I'm hoping to move at some point next year and don't want the loans getting in the way of what I can afford. The current plan is to pay about $4,500/month on the loans September through March and use my bonus at the end of March to finish them off. [link] [comments]  |
| Loan Repayment and Credit Score Posted: 06 Sep 2021 04:49 PM PDT Forgive my ignorance in advance. I have about 80k in student loans with potential to lump sum pay off early next years. Which will have a greater positive impact on credit score, lump sum payment or to divide the payments up over 3-6 months? [link] [comments]  |
| Question about Grad PLUS loan and credit (charge off)... Posted: 07 Sep 2021 01:18 AM PDT Hi, I applied for graduate PLUS loans and am waiting on the approval. Regarding the adverse credit issue, I have a charge off for an auto loan on a car that got totalled. I missed paying the balance of what the insurance didn't cover and the account was charged off. However I contacted the car company's finance department and paid everything I owed, back in 2018. The adverse credit section says that any charge off over $2085 which is still unpaid can be grounds for rejection. That's not my issue since it's been over 2 years and I paid off the account in full. The question I have is, does this count as a "default determination", which you can't have for 5 years prior to initiating the loan application? I can't get any definitive answer. The adverse credit section on the FedLoan site appears to distinguish between charge offs and "default determinations", but someone from one of the credit bureaus said it's considered a default. Credit score is just under 700 so it's not terrible by any means. Any help would be appreciated. Thanks. [link] [comments]  |
| Experience w/ Teacher Loan Forgiveness Posted: 06 Sep 2021 06:04 PM PDT Hi all, I am a special Ed teacher at a qualifying school, working on year 5 right now. I am hoping to switch careers next year (yay!) and apply for the federal teacher loan forgiveness program. My question for anyone who has had experience with this particular thing: Is being "temporarily certified" in your subject areas okay? I just earned my "professional" certificate 3 years ago but I have been certified in ESE and English for those 5 years and was always considered "highly qualified" on teacher observations (I'm in Florida). Thanks! [link] [comments]  |
| Need cosigner for next year or just get credit card? Posted: 06 Sep 2021 10:54 PM PDT After cosigning for my first year of university, I had to explain to my grandma that I need to cosign for every year, and after a bit of hesitation she cosigned for my second year--this year. Though she did mention this is the last year she'll cosign for me. Is it practical to get a credit card sometime this year and work on that until my junior year where instead of a cosigner I'll just have my own credit to look at? Or should I start looking for another cosigner? (Apologies if I worded this weird) [link] [comments]  |
| New to the loan process - which servicer/partner should I go to? Posted: 06 Sep 2021 12:15 PM PDT Hi folks! I'm a freshman in college who is currently on my school's payment plan for this semester. Right now I have $1.4k leftover in expenses, which I know isn't a lot compared to many others' costs but y'know, it's still money I don't really have at the moment. The payment plan let me extend my deadline by two months, meaning I need to have that money paid off by October 25th or else I can't register for next semester. I just got my first ever job this last week and I start next Monday. Thing is, I don't know my hours, pay rate, or pay date, and I don't have time to continue job searching as I am desperate to have at least some money ASAP. Because of this I'm not sure if I'll be making enough to have that 1.4k by October, and I'm bracing myself to take out a loan if it comes as a last resort option. I want to do the research ahead of time before it reaches the panic-point. I have a couple federal loans I got through my school, the only one I didn't accept was the PLUS loan because my parents are house-searching and don't want me to affect their score. I've never owned a credit card so I don't have a credit history. I'm generally just new to this whole loan process and would really appreciate some insight as well as tips for taking out private loans. [link] [comments]  |
| How much debt is too much? Need advice. Posted: 06 Sep 2021 07:57 PM PDT I'm (23F) a graduate student who was fortunate enough to not accrue any debt during my undergrad. I'm finishing up my first year of graduate school and I've acquired about 10,000 dollars in debt so far. I have at least another year, since my program is very new, I'm the first student in it, and they haven't really worked out all of the kinks yet. I'm concerned that my advisor has given me some bad advice, and I've already taken some classes that may not end up being a part of the new program. That being said, I'm very concerned about the amount of debt I may end up in when I'm done. I'm not concerned about getting a good job when I finish, I've been very successful in my dept and will likely have a job waiting for me at my school when I'm finished, but I will be working on my PhD. Since Covid I've been struggling financially. I'm considering taking out a loan to supplement my meager income, but I'm wary of getting into more debt than I can handle. I need advice. [link] [comments]  |
| Making interest-only payments while my loan is in IBR and racking up some sweet tax breaks doing it! Posted: 06 Sep 2021 04:21 PM PDT I have three thousand in unpaid uncapitalized interest on my loan. Current on IBR with zero monthly payment. I realized that every single dollar I make in payment goes straight to paying down unpaid interest. I'm going to pay $1,500 this year and $1,500 next year. I'm literally making a 25% guaranteed return by April 2022 on every dollar I pay this year, brahs. That beats the S&P and every other legitimate investment hands down. [link] [comments]  |
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