$52k in student loans, how stressed should I be? Student Loans |
- $52k in student loans, how stressed should I be?
- $85k in debt, $25k in savings
- Help.. 1st Generation College student
- Been in IBR for 5+ years, suddenly I do not have a partial financial hardship and my payments more than doubled but I don’t made much more
- Pay Chunk then Refi or Refi then Pay chunk?
- Needing to take out student loans without my parents finding out. Please help.
- Currently stuck with $75k of Student Loan Debt, here to get advice
- No IBR income recertification until 2023?
- Can you refinance without current job?
- Borrower's Defense - ITT Tech
- 1st gen college student and cant get parent plus to cover school what do?
- Wife is taking a class at a college and now Fedloans put her in deferment and are capitalizing interest
- To refi or not. That is the question.
- When the heck do I recertify for IBR?
- Not qualified for student grants in Canada (help pls)
- I do not qualify for fed loans and I am trying to figure out where the best place to get a private loan would be. What’s a good interest rate and any advice would be appreciated
- Settling on private loan in collections
- Student Loan Scenario and Advise
- Figuring out what to do about Federal Perkins Loan... refinance? Try for employment based cancellation?
- Any reason not to consolidate Perkins with other federal loans?
| $52k in student loans, how stressed should I be? Posted: 04 Nov 2021 02:31 PM PDT The student loan freeze is about to unfreeze at the end of January, and I've been pretty stressed about it. I've been wondering though, should I be even more stressed? I'm trying to get a good read on my situation by reading posts on here, but it seems like others owe way more or way less than I do. I'm currently earning $59k a year at my job, but I started with that salary a few months ago so I don't have too much saved. I am trying to study on my own for a career change to try and earn more, but what should I expect with my current earnings? On a scale of 1 to 10, how worried should I be? [link] [comments]  |
| Posted: 04 Nov 2021 11:11 PM PDT Put down $25k to get down to $60k in debt, or save it? PSLF is an option for me in about 8 years, but I don't think I should rely on the government for anything. Making $56k, will make $60k in a couple of years. [link] [comments]  |
| Help.. 1st Generation College student Posted: 04 Nov 2021 08:09 PM PDT I've been watching this subreddit for awhile. I am a first generation colleg student. My family had no idea how to pay for my college and I thought loans were my only option.. if only I knew then what i know now I wouldn't have went to college.. Anyways I graduated with my undergraduate bachelors degree in 2018. That degree is for psychology and sociology. I just graduated with my masters of education at the end of 2020 but the program I was in didn't allow for teaching licensure so I just have the degree.. I have about 80k in Federal Loans and 100k in Sallie Mae. Truthfully I'm scared and unsure what my payments will be like when I have to start paying in January? I am currently a 2nd Grade Teacher at a charter school and am teaching with a substitute license. I am making 35k a year. I have spent so much time looking for better paying jobs but I don't have the experience yet for them. I have no other debt other than student loans. My car is paid off. I spend about 700 a month on living costs currently. As far as my options, should I refinance? I'm honestly scared and it's caused me a great deal of anxiety and stress.. [link] [comments]  |
| Posted: 04 Nov 2021 09:32 PM PDT Sorry for typo in title I started income based repayment maybe 5-6 years ago, at the time I was making under 30k/year and for the past few years my income has increased just a little each year. My previous years payments under ibr were 77 to aes and 44 to fedloan. I made a little under 40k/year per my 2020 tax returns (and same for this year), yet after my recertification process this year I received a letter from each servicer that I'll now be paying 2-5x what I was last year and the year prior, and one letter said I "no longer have a partial financial hardship". I filed single last year but I'm getting married next year (not sure how that is going to effect this but I imagine not in my favor). Is it possible something was calculated incorrect? I used the irs data retrieval tool on studentaid.gov so I didn't actually enter any numbers. Is there a better payment plan for me to consider? I just want to pay the least amount possible per month as were trying to build a family here. Here is the info I received from my servicers after recertification, thanks for any help: "We used the income documentation and the family size you provided to determine your monthly payment of $143.34 which is first due on 12/15/2021." "We received your documentation for your annual recertification but determined that you do not have a partial financial hardship; therefore, your new payment amount is not based on your income and family size. Your loans will remain on the Income-Based Repayment (IBR) plan but your payment amount changed to $138.18.*" [link] [comments]  |
| Pay Chunk then Refi or Refi then Pay chunk? Posted: 04 Nov 2021 08:22 PM PDT Does it matter? Currently have 186k in federal debt at 6% looking to throw 60k and refinance, got a quote for 2.4%. Trying to save a couple bucks but does it matter if I throw 60k BEFORE I refinance or throw 60k immediately after? [link] [comments]  |
| Needing to take out student loans without my parents finding out. Please help. Posted: 04 Nov 2021 07:10 PM PDT I am currently a sophomore in college and have been living at home. Since coming out as LGBT to my parents last year, things are becoming more and more "not great" to put it lightly. My grades and my mental health have have suffered greatly. I had to withdraw from all of my classes last semester and will be dropping half my classes this semester. I need to leave. However, my parents are very controlling and are very much against me leaving or getting a loan. The problem is, is that i'm not sure exactly what to do and my school's finical aid department is essentially useless. I have even contacted ex-teachers to no avail. Another thing is that I'm hoping I can pass it off as a scholarship so they can let me leave. My mom did fill out my fasfa and i'm considered a dependent because I live at home. Any advice is much appreciated! [link] [comments]  |
| Currently stuck with $75k of Student Loan Debt, here to get advice Posted: 04 Nov 2021 12:25 PM PDT I have the same story as everyone else, I decided at the age of 17 to go out of state for a stupid degree and now find myself facing 75k in debt. To keep it short, I have $68,500 in federal loans that have a 6.5% interest rate. (Great Lakes) I also have $7,000 in student loans that have a 4.79% interest rate. (Ed Financial) I currently have about $40,000 saved up and am 22 years old. I am currently making 30k a year for my entry-level full-time job and will most likely be making 60-70k by 2023 once promoted. I don't want to start automatic payments until interest restarts in January, and was thinking of paying off about $10,000-$15,000 before that interest starts, to get ahead. I am writing in this sub to ask if anyone here knows of refinancing companies to combine my federal and student loans into one that could also offer me interest rates in the 3-4% range. I would also like to ask for advice on how much I should pay off before interest rates start in 2022. [link] [comments]  |
| No IBR income recertification until 2023? Posted: 04 Nov 2021 04:58 PM PDT I am doing PSLF and recertified my IBR plan last month by submitting my 2020 tax return since payments will resume in February. FedLoan later informed me of my new monthly bill which is $100 more than what I was paying before since my income increased in 2020. I have a friend who told me they called FedLoan today and were told by a representative that they do not need to recertify their IBR plan until 2023 due to COVID so their payments will remain the same, however, they do need to continue to verify they are working for a qualifying employer. I'm upset because now I wish I never recertified my income so that I can keep my old payment amount. I'm also confused because when I log into my FedLoan account my estimated payment due in February still says the old amount and not the new amount with my most recent tax return. Has anyone heard of this? [link] [comments]  |
| Can you refinance without current job? Posted: 04 Nov 2021 10:24 PM PDT I would like to partially refinance some high interest federal loans. I have a job offer, but won't be starting for several months. What are the odds of getting approved for refinance without a current job? [link] [comments]  |
| Posted: 04 Nov 2021 10:20 PM PDT My ITT Tech claim has been "In Review" for months. A few days ago it changed status to "Pending". Just checked again today and its back to "In Review" Anyone have this happen to them? [link] [comments]  |
| 1st gen college student and cant get parent plus to cover school what do? Posted: 04 Nov 2021 10:06 PM PDT Hi, its currently my first year in college and im trying to pay or lower the fee needed from to cover my first quarter in college, so I can enroll for classes next quarter and was told. That i should do parent plus, But found out my actual father is filed for bankruptcy meanwhile my mom is too. Meanwhile the aid given currently doesn't cover enough because my mom also has to add my stepdad too for fasfa and it doesnt really allow me to gather much from Fafsa and also cancelled out my collegebound scholarship. Any help navigating this hurricane of a mess would be greatly appreciated. [link] [comments]  |
| Posted: 04 Nov 2021 07:58 AM PDT Hi. I need help. Kinda freaking out. My wife and I have a lot of loans. Some federal, some private. I have taken the opportunity of the COVID deferment to pay off a lot of the private ones. My wife decided to take an afternoon class at a college that her work is paying for. Great. For some reason, I got an email today from fedloans saying that she has been switched to "in-school deferment" and that the interest will capitalize. I don't want this. I don't want them to capitalize the interest. We have had these loans for a while. She is not in school full time. It's a single class. I was planning on paying the Fedloans when the COVID deferment was lifted. She is calling her school and Fedloans to have this "reversed" but I am kind of freaking out. Is this reversible? Or is it done and can't be undone? Any advice? Thanks [link] [comments]  |
| To refi or not. That is the question. Posted: 04 Nov 2021 08:28 AM PDT $150k through fed loans (4-7% interest) from grad school. Should I grab the 3.24% refinance rate now with private lender or wait? Your guess is as good as mine, but there are more of you than me. I'm assuming rates might go up once forbearance ends. [link] [comments]  |
| When the heck do I recertify for IBR? Posted: 04 Nov 2021 10:15 AM PDT Having trouble finding official guidance on this. I would like to push off recertification as long as I am allowed to since my income has increased. My original recertification was supposed to be due 11/2020., but of course I did not do it due to COVID. Thanks for any advice! [link] [comments]  |
| Not qualified for student grants in Canada (help pls) Posted: 04 Nov 2021 01:39 PM PDT I'm a resident of Alberta and planning on moving to Toronto next year for school. I'm extremely worried about the tuition and living costs and as the title says, I don't qualify for student grants as my parents make too much. The thing is, they said they can't help me financially. It really sucks that I can't get the couple thousand in grants which I REALLY need just because of their income. The student loan money isn't nearly enough to cover costs as Toronto is extremely expensive. Please give me advice on how to handle this situation. [link] [comments]  |
| Posted: 04 Nov 2021 11:13 AM PDT |
| Settling on private loan in collections Posted: 04 Nov 2021 07:21 AM PDT I have about $35,000 in private student loans that I was making payments on for years but I was never able to make the minimum payment required. This year the account went to collections despite my payments so I stopped paying for a period of time because I needed the money. Has anyone ever been successful in settling their debt for less? What are the chances I could get sued if I can't make the minimum payments? [link] [comments]  |
| Student Loan Scenario and Advise Posted: 04 Nov 2021 06:51 AM PDT Current Loans (total of ~$150k)FedLoan to NelNet (interest paused until January 31, 2022)
UAS Connect
Current Salary and Expenses
What is a reasonable plan for repayment?
[link] [comments]  |
| Posted: 04 Nov 2021 06:17 AM PDT I have a $10,000 federal Perkins loan (in addition to more federal loans through Great Lakes) and had been making the payments since 2018 and then COVID hit. They deferred for a while but even though it's a federal loan, it doesn't follow the same rules so payments resumed last spring. I still owe over $9,000 so I'm not anywhere close to being done. I am due with our first child in December, and will be out of work for 3 months. From there, we will be paying for childcare after I return to work, which will leave us with very little leftover...I do plan on forbearance while I'm not working, but even after I return to work, it will be difficult to make payments. I asked Heartland as well as my university if I had other options to reduce payments, and there are no options other than to refinance elsewhere. I know refinancing a federal loan is usually discouraged. If I were to try and refinance through Great Lakes where my other loans are, would I potentially become eligible to lump it in with my existing federal loan? In theory would I be eligible then for continued COVID deferment (as long as that lasts)? My last question is, I do work as a medical assistant. I'm not licensed through the state but I did complete a certification course, not sure if that counts? I have worked here for 3 years and just found out about the Perkins cancellation/deferment program that seems even better than PSLF. Has anybody done it through Perkins and could provide insight? [link] [comments]  |
| Any reason not to consolidate Perkins with other federal loans? Posted: 04 Nov 2021 05:24 AM PDT I've served in the Peace Corps already and received the percentage reduction to my Perkins loans accordingly. Currently, they stand at ~$4,300 with 5% interest at $256 payment every quarter. My other federal loans total ~$30,000 with lower interest rates and $326 every month payment. I am not a teacher or in any other Perkins eligible position. However, I am currently and want to continue to be in PSLF eligible positions. Is there any reason not to consolidate at this point? I have no other student loans. Any opinion is welcome! [link] [comments]  |
| You are subscribed to email updates from /r/StudentLoans: Reddit's hub for advice, articles, and discussion about educational loans. To stop receiving these emails, you may unsubscribe now. | Email delivery powered by Google |
| Google, 1600 Amphitheatre Parkway, Mountain View, CA 94043, United States | |
No comments:
Post a Comment