So it's official, they're definitely not going to forgive even 10k of student loans? Student Loans |
- So it's official, they're definitely not going to forgive even 10k of student loans?
- Paying off parent PLUS loan & own loan?
- Maxed out federal loan, what’s next
- Rental Application Denied Bc of Student Loans?
- Private student loan recommends. Help! Bad credit
- Starting grad school. I made a mistake on my loan request form, and my disbursement was only half of what I was expecting. Emailed my financial aid coordinator at school, but haven't gotten response yet.
- FedLoans(PHEAA) accounts are being transferred over to MOHELA.
- Save for home or empty savings towards loans?
- Help with teacher loan forgiveness?
- Finding private student loans?
- I am in a short program (2 years) and it's way too intense for me to work and go to school, what are the best student loans that I can pay after graduation?
- Can PLUS loans get disbursed in the middle of a semester?
- Graduated 2020, haven't started paying anything yet, need advice
- Multiple Consolidation Loans
- 529 Account
- Student Loan Payment Advise
| So it's official, they're definitely not going to forgive even 10k of student loans? Posted: 17 Sep 2021 10:44 AM PDT I saw they're doing a new bill with a whole bunch if stuff regarding student loans, but nothing about any forgiveness. Time to give up hope for that at this point and just pay off my last 10k? [link] [comments]  |
| Paying off parent PLUS loan & own loan? Posted: 17 Sep 2021 04:58 PM PDT Hi everyone, I'm needing advice on how best to pay off my student loans. I am planning on paying off my own student loans (approximately $38k) on a standard payment plan (10 years or less). My mother also took out a parent PLUS loan of about 68k which I will be paying. About 30-40% of my monthly salary will be going towards these payments as they stand right now. I'm wondering if I should change my mother's parent PLUS loan to an ICR repayment plan? She plans to retire in less than 10 years (she's currently 58). Would it be stupid of me to spend more on interest with this extended payment plan? I feel like if I'm spending this much of my salary on student loans, I'll never have enough money for a house or other expenses. In your opinion, should I just stick to the standard repayment plans and just focus on paying off debts for the next 10 years (I'm in my 20s)? Thanks for reading! [link] [comments]  |
| Maxed out federal loan, what’s next Posted: 17 Sep 2021 08:43 PM PDT So my college ran out of state grant funds that usually covers my tuition, so I was forced to use my whole financial aid + some of the federal loan I use for rent, I'm going to need to take out a private loan now, so I have a few questions, luckily this is my last year so it's not gonna hurt that bad. I have a total of 10k so far counting this year, so as long as I finish under 20k I'm happy. I'm a computer science major, so the average salary for my profession is above 90k in my area. 1. Between discover , sallie Mae and college ave, what's the best move here? I'll need to take out an additional 5-6k in total. 2. How does the interests work differently with private loans? Is there a calculator for it ? Is it similar to a unsubsidized loan? Where interest is accrued while I'm still in school? [link] [comments]  |
| Rental Application Denied Bc of Student Loans? Posted: 17 Sep 2021 08:28 AM PDT I'm in my mid 20's and was hoping to move to DC. I applied to my second choice apartment and was confident that my application would be accepted but woke up to a denial letter from RentGrow and the apartment building. The letter said I was denied because I didn't have any credit experience. When I requested the report from RentGrow for the specific reasons I was just completely blown away. The reasons I was denied: -The date that I opened my oldest account was too recent -The balances on my accounts are too high compared to loan amounts -The total of all balances on my open accounts are too high -Lack of sufficient relevant real estate information -The number of inquiries was also a factor, but effect was not significant Some background info on myself: -I am an African American woman who graduated in 2018 but had full time jobs while in college. -I have been with my current employer for 2.8 years and make close to $100,000 -My credit score is a 700 -I have 3 revolving accounts, with the oldest being opened in 2019, the second in 2020, and a small line of credit in 2021 from the credit union I bank with -My utilization rate is 30% and below -I have student loans with a balance of 30k. That is why they said too many accounts with high balances. -I have never been late on any payments -I rented from a luxury apartment building last year for $2300/month, and the apartment prior to that I paid $1600/month. -I have an inquiry from 2020 because I tried to buy a house during quarantine but was unsuccessful due to the crazy market. I then gave up and rented an apartment which is where the second inquiry came from. The third is from the Wells Fargo credit card I applied for in 2020. The fourth is from the line of credit I got from my bank this year. I am shocked I was denied because my credit is good, and I haven't been late or defaulted on any payments. It's just shocking that they would evaluate my federal student loans as a factor. I have never seen that before. I do have 9 small student loans but it is 9 because I went to a university that was on a quarter system instead of semesters. So every quarter I had to take out a small loan between 1-5k. Why are they not looking at the revolving accounts by themselves? Why do they care about the lack of relevant real estate info if I'm trying to rent an apartment? I wasn't even presented with the option to pay a deposit equal to a full months rent. I find this very fishy. Does this seem right to you all? Also do you think I should consolidate all of my subsidized loans into one and then consolidate my unsubsidized loans as well to make them two loans? I am literally upset. [link] [comments]  |
| Private student loan recommends. Help! Bad credit Posted: 17 Sep 2021 08:45 PM PDT Hey I'm 24 years old and need a student loan bad. I do have bad credit. Gonna be doing nursing school and I have already taken out a federal student loan so now I need to look into a private student loan. Does anyone have any recommendations? Remember I do have bad credit. I really just want to get approved and need around 10-15 thousand. I hear all these people with tons of student loan debt and wonder how? I can't find where to pull out any student loans outside of the federal one the schools financial aid dept handles. I know that the interest rates probably gonna suck but I just need to know where are the best likely companies are to approve me so I can stay afloat. Thanks! [link] [comments]  |
| Posted: 17 Sep 2021 02:39 PM PDT On my loan request form I filled out, I had to put down the amount I wanted to take out in a loan. I thought it was just for this Fall semester, so I put the number down, and submitted it. I got the disbursement today, and it was only half of what I was expecting. I realize what I did wrong. I should've put down double that amount, as the request was for the entire 2021-2022 year, if that makes sense. The reason I'm asking here is because I emailed the financial aid coordinator at my school, but she is off today, so I doubt I will hear back from her until next week, but I kinda need to know now if this is something that can be adjusted or if I will be screwed for the rest of this semester. This is for Direct unsubsidized loans served by MyFedLoan, if that matters. [link] [comments]  |
| FedLoans(PHEAA) accounts are being transferred over to MOHELA. Posted: 17 Sep 2021 04:49 PM PDT Just saw this - https://www.mohela.com/DL/resourceCenter/FedLoanTransfer.aspx "f you recently received notification from FedLoan Servicing that your loans will be transferring to MOHELA, welcome to MOHELA! Please refer to the following transfer information. Effective 10/4/2021, the U.S. Department of Education (ED) will/has transferred the customer service of your federal student loan account from FedLoan Servicing to MOHELA, another member of ED's federal loan servicer team. Your loans were not sold. ED will continue to own your loans; however, MOHELA will manage your loans and assist you on ED's behalf as your federal student loan servicer. This change in servicer will not impact the existing terms, conditions, interest rate or available repayment plans of your federal student loans. MOHELA is committed to giving our customers a first-rate experience. To aid in repaying your student loans, we promise to listen, offer customized solutions to meet your specific needs and provide superior guidance as your dedicated resource expert. Alert: Until the effective date of the transfer, please continue to contact FedLoan Servicing about making payments or changes to your account. After your loans transfer, please contact MOHELA for assistance. " Doesn't say how many, but just that it'll be roughly 25 days from the date of your FedLoans goodbye letter and your Welcome to MOHELA letter. [link] [comments]  |
| Save for home or empty savings towards loans? Posted: 17 Sep 2021 05:12 AM PDT I'm 29 years old and I have a 56k private loan w/ $600 monthly payment + 200 in extra payment. I have about 30k in savings. Should I put as much from my savings as I can toward the loan or continue to do my monthly payments only and attempt to save towards buying a home? [link] [comments]  |
| Help with teacher loan forgiveness? Posted: 17 Sep 2021 12:23 PM PDT Hi all! I completed my 5th year of teaching service at a Title I school last school year (2020-21). I applied for teacher loan forgiveness for $5000 in early July. My loan servicer is FedLoan Servicing. On July 23, I received a notice that my application was complete, I appeared to meet the criteria for forgiveness, and my application was being forwarded to the U.S. DOE's FSA for review. I haven't heard anything since. I'm wondering if other folks have any experience with teacher loan forgiveness, and how long it took to get approved? It was a big hassle to get my application through FedLoan (the account I gave of it just now was VERY condensed, haha), and I am surprised by how long it's been with FSA. But maybe it just takes a long time? I called FedLoan today, and they said I have 180 days of forbearance from the day I submitted my application so it could take as long as that. Overall, I've felt extremely frustrated by this whole experience - the lack of information and lack of transparency about the status of my application is really hard for me to deal with. Any insight at all would be really helpful - thank you in advance! [link] [comments]  |
| Finding private student loans? Posted: 17 Sep 2021 12:52 PM PDT So because I'm still considered a dependent, the feds don't give a shit about me. I got a unsub loan which covers some expenses but not even close to enough My income is too low and my credit history is less than 3 years, making me ineligible for any private student loans despite a decent score of 714. GPA is under 3.0 so no outcome-based loans or isa loans. I have nobody willing to co-sign me. Wtf do I do to get qualified? Do I just work for a little while to get my annual income up and try again? [link] [comments]  |
| Posted: 17 Sep 2021 02:39 PM PDT I moved back with the folks, and need the bare minimum amount of money to survive. I have enough (almost) to cover tuition with the meager FAFSA and sub/unsub loans the fed gave me. 1 semester is like 10,000 usa dollars. [link] [comments]  |
| Can PLUS loans get disbursed in the middle of a semester? Posted: 17 Sep 2021 09:57 AM PDT Hey there, I just applied and got approved for a $1600 Grad PLUS loan, but I did so 2 weeks after this new semester started. This is also my last semester. Am I going to get this loan? [link] [comments]  |
| Graduated 2020, haven't started paying anything yet, need advice Posted: 17 Sep 2021 01:08 PM PDT I need some advice from people more familiar with student loans on how to tackle mine. I have a little under $47k in student loans spread across 8 Direct Stafford loans (4 unsubsidized and 4 subsidized). I graduated in May 2020 and started working for the Department of Social Services making around 30k a year, saving as much as I could (I have about $25k in savings) . I left that in March 2021 and was unemployed until I did Americorps VISTA for a summer term of 8 weeks. Now I'm working part-time at a gym making minimum wage and doing a coding bootcamp program to try and get a much better job in tech. The particular bootcamp I'm in has an apprenticeship program (full-time paid work) but it takes about 6-12months after finishing the initial program which will be done in March 2022. I'm looking at doing a full year of Americorps VISTA which is 15k plus a 6k education award and have some offers for doing that which are relevant to the coding bootcamp. (If you are unaware loans are deferred but still accrue interest during service, and the education award is taxed as income) Originally I had planned on doing PSLF but am now planning on doing something related to coding or database management so I do not believe I will qualify. I was also really hoping the Biden administration would come through so I have not yet made any loan payments. Now I am unsure what the best course of action both in the immediate future is and the long term. I did a loan calculator that suggested I do Income Based Repayment but since I expect to make making significantly more in the next 1-2years I am not sure if that's a sound strategy? [link] [comments]  |
| Posted: 17 Sep 2021 11:53 AM PDT I have consolidated my student loans with Great Lakes, and it has left me with two distinct loans (with two different loan tokens?) in one account. One is for subsidized loans, the other for unsubsidized loans. If I make payments towards PSLF, will my one monthly payment contribute to forgiveness for both loans since they are under one account? That is what Great Lakes is telling me, but I am suspicious since they appear to be two distinct loans. [link] [comments]  |
| Posted: 17 Sep 2021 11:38 AM PDT How do I use a 529 account to pay my student loans? Do I withdraw the fund from the account and then make a payment of the exact amount,? Do I make a payment first then I can withdraw from the 529? What if I'm the beneficiary on a 529, but someone else owns the account? Do I tell them to withdraw the fund? Are funds sent directly from the 529 to the student loan office? I'm confused on how I can use the fund in my 529 account. Thank you. [link] [comments]  |
| Posted: 17 Sep 2021 09:16 AM PDT I currently owe only 8k towards my fed student loans, I am going to make a 1k payment next week but im not sure what would possibly be the best route whether I pay it towards only principle or interest or both. I owe 996.00 for acrued interest and the rest being principle. My Goal is to pay it off sooner and I'm assuming principle would be the best option. However if I pay off interest this may help get me back into the lower tax bracket. Because I'm just over the damn line lol [link] [comments]  |
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