60K to below 10K in 3 years! Student Loans |
- 60K to below 10K in 3 years!
- Disabled father, fasfa question
- How do you know if you're building good financial habits?
- Apartments requiring proof of monthly income that is 3 times the monthly rent? How do students do this?
- Will defaulting on one loan mess up repayment options for the others?
- Why does it shows $0.00 for current principal on disability discharge website?
- I need help with FAFSA
- [Private] How many times have you Refi'd?
- Question about servicer change and split in Groups
- financial aid advice
- Granite State Management and Resources
- $27K Student Loans Advice
- My dad (disabled) took out 80k of student loans to help my sister get through school
- General question regarding FedLoan repayment
| Posted: 07 Nov 2021 07:45 AM PST I know I'm not finished yet and I don't want to gloat or anything but I have nowhere else to really celebrate this milestone and it feels really good to see the finish line in site. There isn't a whole lot to how I've managed it so far. Just lived like a college student, averaged about $20K OT annually for the past 3 years, and never let the increase in income lead to any sort of increase in spending. I drive a 20 year old Honda Civic (Si!) and haven't taken any sort of vacation or traveled at all since I graduated. Just made a lump payment of $2.5K today, feeling glad I chose a profession that lets me pick up overtime. Only real advice is to either pick up OT or a second job if you need extra money and make as many lump payments as you can when starting out. I had no idea how much money was just going to interest until I looked back at everything. [link] [comments]  | ||||||||||||||||||||||||||||||||||||||||||
| Disabled father, fasfa question Posted: 07 Nov 2021 02:27 PM PST I am a disabled single father, my son is filling out his fasfa for next year. When it comes to the question of income and have they filed taxes. No options are applicable to me. I get a SSA form 1099. I don't file taxes. There's no 1099 or disabled option. Do I need to call them? Just trying to help my son. Any advice would be greatly appreciated. Thanks all. [link] [comments]  | ||||||||||||||||||||||||||||||||||||||||||
| How do you know if you're building good financial habits? Posted: 08 Nov 2021 01:55 AM PST Hello Reddit. I am building a money management app that is focused on encouraging good financial behaviours in young adults. I think talking about money is still taboo and this leads to people not knowing if they are creating good financial habits or not. Help me understand if you feel the same way by filling out the short survey at https://forms.gle/cQ4NHwJFSFrtcTdB8. Completing the survey shouldn't take you longer than 2 minutes. If you leave your email address, you will be eligable for a €25 prize. [link] [comments]  | ||||||||||||||||||||||||||||||||||||||||||
| Posted: 07 Nov 2021 12:02 PM PST I will be moving to a new city to start physician assistant school in January. Rent is very expensive in this city. Initially when setting up my loans I just requested to receive the average monthly rent. Now that I'm looking for an apartment, everywhere requires proof of income equal to 3x the monthly rent. How do grad students usually handle this? Am I going to have to triple my loans just so that apartment landlords are satisfied with the 3x monthly rent income requirement? [link] [comments]  | ||||||||||||||||||||||||||||||||||||||||||
| Will defaulting on one loan mess up repayment options for the others? Posted: 07 Nov 2021 02:06 PM PST I never consolidated my Perkins Loan with the rest of my undergrad/grad debt and brought it back into repayment last year. That loan has always had a different servicer than the rest of my student loan debt. I Had it set up to come out on automatic draft and ended up switching to a different bank without thinking about updating the draft information. There's been so much going on in my life lately that I just completely forgot about it until I got the notice today that it had been accelerated and sold to a debt collection agency. The rest of my loan debt (all federal loans) is set to go back into repayment after Jan 31 along with everyone else's and as a single (foster) parent who works in special education, I rely on an IDR plan to afford repayment and to hopefully qualify for PSLF in the future. Will this completely destroy that possibility? Of either qualifying for IDR or PSLF? [link] [comments]  | ||||||||||||||||||||||||||||||||||||||||||
| Why does it shows $0.00 for current principal on disability discharge website? Posted: 07 Nov 2021 03:51 PM PST I've applied for TPD almost 2 weeks ago, and I'm seeing on the website that all my loan accounts are $0.00 with the date of my application. Does this mean that I've been approved? Or is this what happens after the application for TPD is received? Thanks in advance for the help! [link] [comments]  | ||||||||||||||||||||||||||||||||||||||||||
| Posted: 07 Nov 2021 02:34 PM PST So I want to apply for FAFSA but My Aunt didn't file me as dependent in her 2020 tax because at that time I wasn't in the US I was in Nigeria but I am a citizen of the US and she was(is)my legal guardian while I was here for almost two years in 2015-2017,I came back this year(did my high school in Nigeria graduated last year),and I want to apply for college and her tax person said I will be unable to get financial aid until 2023 because she didn't file me as dependent,that is basically I can't go to college until 2023 ,and I graduated high school in 2020 that means I will be at home for 2 years please is there another way?ðŸ˜ðŸ˜ [link] [comments]  | ||||||||||||||||||||||||||||||||||||||||||
| [Private] How many times have you Refi'd? Posted: 07 Nov 2021 05:55 PM PST Started with Sallie Mae two years ago at 10%. Then went with Earnest to 4.8% one year ago. Then as of the last month got 3.4% with Splash Financial. While 3.4% is objectively a decent rate - I'm not comfortable with just paying the minimums on this extensive amount until I hit the 2's. So all in all - looks like I'm going to refi a total of 3 times. [link] [comments]  | ||||||||||||||||||||||||||||||||||||||||||
| Question about servicer change and split in Groups Posted: 07 Nov 2021 07:29 AM PST Hello Everyone. I originally had my student loans through Granite and now have been transferred over to Ed Financial. As I graduated during Covid, I have not had to pay anything yet so these numbers have not been adjusted at all as far as payments on my end goes. Before this transfer I saved everything just in case there was some issue or mess up during the transfer and I noticed a difference that I wanted to run by you all here. With Granite I had Groups A-J and now with Ed Financial I have Groups A-M (3 additional groups). It seems that Ed Financial split 3 of the Groups Granite had listed along with the quantities but retained the same interest rate and overall quantity. I tried putting it into an amortization calculator just to see a discrepancy but not sure if there was.
What would this result in (higher payment, higher interest paid over the long term, etc)? Should I be concerned at all? [link] [comments]  | ||||||||||||||||||||||||||||||||||||||||||
| Posted: 07 Nov 2021 10:00 AM PST Filling out the FAFSA form.....my ex and I literally split time, housing, and costs with our daughter who is applying for colleges. They asked for 2019 financial info. I made more than twice as much as my ex in 2019. Twice as much in 2020.....and I became unemployed most of 2021 (so she made twice as much as I have in 2021). Who should file ? I called financial aid and they said I could still file but need to contact my daughters schools' financial aid office and let them know my finances have changed since 2019. Just trying to get her the best deal. Thanks [link] [comments]  | ||||||||||||||||||||||||||||||||||||||||||
| Granite State Management and Resources Posted: 07 Nov 2021 03:18 PM PST I currently have 17k in loans and my loan service is changing from GSMR to EDfinancial at some point. I logged in today into GSMR and it says a payment was made 11/3 in full, and my balance is currently $0. I tried making an account with EDfinancial to see if they have been moved there but it is not letting me. The payment type is "other" listed on my GSMR and it's not letting me see how it was paid or why. Does anyone have experience with this? Is it just because of the transition? I mean obviously I'm going to keep checking with EDfinancial, it just seems odd to me and I haven't gotten any emails about my loan being moved officially to this other lender. [link] [comments]  | ||||||||||||||||||||||||||||||||||||||||||
| Posted: 07 Nov 2021 10:20 AM PST Hey everyone so I have $26-27K in student loans (about $24K in federal subsidized and unsubsidized loans and $3-4K from a federal Perkins loan that I received directly from the university). I have plans to go back to school in about 2 years and annually I make $60K (after taxes). The cost of my masters degree will about $35K for 3 years of schooling and with the time I have until I start, I'd like to save up to pay for the degree myself in order to prevent myself from gaining any more debt. That being said I only live off of about half my income so saving isn't a problem but I'd like to pay my off my loans as fast as possible while still saving for grad school. I know there are many benefits to keeping loans federal but I have been considering consolidating my loans with a private lender as the interest rates are lower overall. I have gotten a few rates already but I'm currently leaning towards CommonBond as they are offering me a fixed rate of 2.84% with a monthly payment of $489 for 5 years. Any feedback would be appreciated as I have some time to make a decision before January when I have to begin repayments. [link] [comments]  | ||||||||||||||||||||||||||||||||||||||||||
| My dad (disabled) took out 80k of student loans to help my sister get through school Posted: 07 Nov 2021 08:22 AM PST My sister is just starting her new job. My dad receives roughly 25k a year because he's disabled, mentally and physically. He's a veteran. He has a bulged disc in his back, which is a degenerative bone disease and he has bipolar disorder. I want to help him cancel the loan but he doesn't comply due to his fear of losing his 25k income, as that's all he has. What can I do to help? Please give helpful advice or resources. Edit: She's an instructor. For whatever reason, her teaching/pedagogy doesn't count for forgiveness. [link] [comments]  | ||||||||||||||||||||||||||||||||||||||||||
| General question regarding FedLoan repayment Posted: 07 Nov 2021 11:01 AM PST Does the standard repayment plan take into consideration spousal income? I know the income-based repayment plans do but I can't find information on whether that also applies to the standard repayment plan. [link] [comments]  |
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