Does MyFedLoan still have employees? Student Loans |
- Does MyFedLoan still have employees?
- Anyone waiting until Jan 31 to put a large chunk of money and be debt free?
- Got a Check in the Mail.
- Sallie Mae Refinancing?
- Can you get student loan for just one semester
- Kinda concerned about IDR and staying away from PSLF
- Paying student loans with credit card
- How do I negotiate with Sallie Mae?
- 2020 Spring Graduate, When to Start Paying
- down payment for a house or pay off student loans?
- Defaulted years ago
- Federal aid for AA and AS concurrently?
- Student loan payment strategy
- Refinancing Private Student Loans for wife still in school?
- Student Loan interest
- Searching for a personal loan
- Offered a total and permanent disability discharge, but a bit confused
- Tentative repayment plan from financial aid department
- Partial Hardship denied
- Lost my pell grant for previous school year. Now I owe $2600
- Is consolidating Loans worth it for me?
- Confused on Next Steps
- Questions about payments
| Does MyFedLoan still have employees? Posted: 23 Nov 2021 06:01 AM PST I've been trying to reach out to them for several weeks now. When you call, the queue tells you that you'll wait more than 20 minutes over and over (never decreases). When you try to use the service that calls you back when it's your turn, it just hangs up and takes you out of the queue and does NOT call you back. No one is ever available for the online support chat. Ever. Why even have it posted online? I've never had a single email answered. Ever. What kind of scam company is this? Did they just fire everyone and then continue to act like they're still an operating business? If they're going to keep servicing loans for another year, they're going to have to get their shit together. [link] [comments] | ||||||||||||||||||||||||
| Anyone waiting until Jan 31 to put a large chunk of money and be debt free? Posted: 22 Nov 2021 08:29 AM PST We had $120K at the start of the pandemic and because of the sell of a house and our savings we should be debt free before loans resume. We are planning on doing a large lump sum. I can't wait. Anyone else want to share? [link] [comments] | ||||||||||||||||||||||||
| Posted: 23 Nov 2021 08:08 AM PST I went to ITT tech several years ago and when I got a letter a few months ago saying my loans had been forgiven, it felt like a slap in the face because I had already paid them all off over a year ago. Well yesterday I got a check for over 30k in the mail, which caught me totally by surprised, I thought they were only Forgiving loans not refunding them. Did anyone else get a check? I'm almost scared to deposit it. [link] [comments] | ||||||||||||||||||||||||
| Posted: 22 Nov 2021 06:52 PM PST Does anyone know if there is a refinance company out there that deals with Sallie Mae? I have been searching for YEARS and still haven't had luck... Would banks like US Bank or Wells Fargo do such things? I really, REALLY appreciate the help or tips!!! [link] [comments] | ||||||||||||||||||||||||
| Can you get student loan for just one semester Posted: 23 Nov 2021 03:07 AM PST Here is my case: I am starting college January of 2022 at University of Central Florida.My parents are immigrants so i am applying for in state tuition through them since i am dependent.But here's the problem All the documents that they have to proof florida residency are not 12months or more old.So i might have to pay out of state tuition for just one semester.Since out of state tuition is considerably higher than in state tuition i was wondering if i can somehow take student loans for just the spring session.We are financially stable to pay in state tuition starting fall 2022 btw.Just need some help paying off spring 2022 tuition Thanks for reading [link] [comments] | ||||||||||||||||||||||||
| Kinda concerned about IDR and staying away from PSLF Posted: 22 Nov 2021 05:21 PM PST Last time I took out loans was 2011 for a grad program. I was in it part time and also thought I'd be able to make payments under the PSLF program as my employer from 2012-2021 was public education. Unfortunately one call and inquiry back in 2014 made it appear as if my payments while in a grad program wouldn't count bc I was enrolled. I was part time from 2011-2014, then 2nd program from 2014-2017 where this one was paid via tuition assistance via the job, so my payments during 2012-2017 were only maybe 6 or 8 months where I thought I had to pay because I was in between programs. By 2021, I had made only 40 payments for PSLF. So as it stood I'd have 6ish years to pay it off in a field where I couldn't make more than 55k without a PhD. The confusion comes when My fed loan counter though said I only have 11 years left because I've been in the same IDR plan since 2011 when I last took out loans and continued (in a sense) repayment from my undergrad loans. It doesn't take into account when my loans were on pause. In short, I'm working in the private sector with 11 IDR years left despite having 6 PSLF years left if I stay in education. My loan amount isn't too bad at 80k, but I figure I can go make more money in the private sector where I make 70k and be fine with IDR for 11 years vs 6 years stuck at 55 maybe 60k in education. Anyone in a similar boat? Does the IDR counter make sense or is the system maybe buggy? [link] [comments] | ||||||||||||||||||||||||
| Paying student loans with credit card Posted: 22 Nov 2021 06:10 AM PST I owe about $15,500 on my student loans. I have enough saved to pay them off now. I use my credit card for literally everything and just pay it off the next day when it posts. I do this to get the points/cash back. My question is do you all know if there is a fee to pay student loans with a Chase credit card? I pay my medical bills with it also and I've never had a fee for it. I figured I could get at least a few hundred dollars back if I did this. [link] [comments] | ||||||||||||||||||||||||
| How do I negotiate with Sallie Mae? Posted: 22 Nov 2021 07:23 PM PST I am at the end of my rope and sick from anxiety. I have no idea how to deal with Sallie Mae anymore. I have a loan through Sallie Mae from my undergrad days. I am currently in a PhD program overseas and have just found out that my in school deferral that was approved last year has now expired because of a month limitation on in school deferrals that I had no idea existed. I even spoke with a representative when I filed my deferral last year and they NEVER mentioned this limitation or the fact that my 3-year deferral request would stop partway. Assuming that my loan was deferred until I graduate and get a job I have been focusing on uni and a recent car accident that I had that has put me out of work for 5 months. I come to find out through my parents that a bill arrived saying I am over a month late on payments for my student loan. I contacted Sallie Mae and the first person I spoke to said there had been a mistake on their end and they would fix it. 3 days later nothing. I call back and am told about the expiry time. I asked why this was not mentioned before and they just said that they are sorry I was misled but there is nothing they can do. After spending an hour on the phone they determine that they can't defer anything or place anything on forbearance I just have to pay. I tell them I can't afford the repayments they are asking for so they transfer me to a repayment officer who can "help" me make a lower payment arrangement. I explain my current situation (the accident left me unemployed for 5 months. I'm overseas and not eligible for any assistance) and the guy I am speaking to tells me that the lowest they can possibly organise payment for is the minimum payment that they are already asking. I am willing to pay but it is a much lower amount than they want. The best part is he tells me the lowest they will ever go is $50 (which I told him I could afford) but my loan will not be eligible for that because of its age. he also informs me that he sees this issue happen all the time with people who go to graduate school. He further goes on to say that because I have no job at the moment they can't even negotiate with me. He says that they can contact my co-signer to manage repayments. I inform them my co-signer is now disabled and cannot afford any payments as he can barely afford basic necessities. Well, that doesn't matter to Sallie Mae. They just want to be paid. I reminded the guy I am willing to pay $50 a month until I can get back to work in a few months (estimated by my GP to be February). He says that it's not enough and that I or my co-signer has to pay the current monthly payments or the loan will default in a few months. I said point-blank, so Sallie Mae would rather not get paid, and let a loan charge off than accept a lower payment for a few months while I get back on my feet. The response was that they can't help me and these are my options A.) pay what they ask or B.) default. His only ray of hope he offered was that most of their charged-off loans are kept in house and they don't bother with collections actions (no idea why) but around 10% of loans do get sold to collections agencies who will sue me and my co-signer. He had no information as to how this system was decided. He also said that since I live internationally no company would come after me here they would just go after the co-signer. He told me this like it was a good thing. WTH? INFO that might be relevant: - Sallie Mae is my only private loan. All the rest are federal. So consolidation is not an option. - I took this loan out at 17 on the advice of the financial aid office at my university because my federal loan wouldn't cover all my tuition expenses. it was only later on that we found out about the horrors of private loans. -I live overseas and will be continuing to do so (Applying for permanent residency) but my co-signer still lives stateside. He is disabled and quite frankly in very poor health (I'm hoping he gets to see me graduate with my PhD). - The guy at Sallie Mae told me that I will have to pay through an American bank account because they don't have the option of international payment. I asked what happens if someone moves overseas and they have no US account and no family in the US. His response was that it happens and people have to find a way to pay or they just let the loan default. -After talking to several people at Sallie Mae I feel like their goal is to let loans default. They seem VERY uninterested in any sort of cooperative repayments. After all of this, I am just at a loss. I have every intention of paying the loan but I can't pay what they want. they refuse to accept this and would rather just default on the loan. WHAT THE HELL? does anyone have any suggestions for how to deal with this? [link] [comments] | ||||||||||||||||||||||||
| 2020 Spring Graduate, When to Start Paying Posted: 22 Nov 2021 10:01 PM PST Hello all! I graduated in 2020, during the pandemic obviously, and the student loan suspension had already begun by that point. What I am wondering is once the suspension ends on January 31, 2022, will I still get the 6 month grace period like I would've gotten after graduating (which would make my first payment sometime halfway through 2022)? Or is that being ignored at this point? Things are tight living on my own and paying rent so I am wondering and trying to ask now so I know what to plan for in the coming months. Thanks! [link] [comments] | ||||||||||||||||||||||||
| down payment for a house or pay off student loans? Posted: 22 Nov 2021 03:59 PM PST Hey all, I wanted to see what other folks have done in this situation. I have $20k to either put toward either a house down payment or towards my loans. I'm in a public service job and have about 20 payments of my PSLF down, and plan on staying in the federal government for my career (therefore getting the remainder of my loan forgiven after 120 payments). What would you do? [link] [comments] | ||||||||||||||||||||||||
| Posted: 22 Nov 2021 10:18 AM PST Hello, in 2009 I went to university for a semester, they raised tuition so between that and family reasons I dropped out. The loan debt was around 8k and after struggling to pay it back right away I defaulted. Now when I look at my credit report it says derogatory account balance $0. Before I couldn't get back into school because of the debt but if it's $0 now could I? Or how does that work because my aunt works at a big university now and said she'd like to get me into a program but I'm not sure if I could with my history. Any help trying to understand returning to school after so long and with this situation is appreciated. Thanks [link] [comments] | ||||||||||||||||||||||||
| Federal aid for AA and AS concurrently? Posted: 22 Nov 2021 02:39 PM PST Hey guys, starting nursing school and about 9 credits shy of an AA. Need the AA for the RN-BSN bridge. I qualified for full pell. Wondering if I can do both concurrently at the same school, or if there is any reason why I'd need to finish the AA at another school? My advisor told me once that I'd need to finish the AA at another school. Not sure why that makes sense other than I'll be 150% over the required amount of program credits this summer from completed prior coursework. Would finishing one associates disqualify me from aid for the other? Thanks [link] [comments] | ||||||||||||||||||||||||
| Posted: 22 Nov 2021 06:21 PM PST Hello, I have around $22,000 worth of student loan debt, and was wondering if REPAYE is the best option as far as paying the loans go or if there are any other ways please let me know. Loan #1: $3,500 - Interest: 4.450% Loan #2: $2208.93 - Interest: 4.450% Loan #3: $4500 - Interest:5.050% Loan #4: $2136.18 - Interest: 5.050% Loan #5: $4500 - Interest: 4.530% Loan #6: $2031.99 - Interest: 4.530% Loan #7: $2750 - Interest: 2.750 Loan #8: $1000 - Interest: 2.750 Perkins Loan: $1600 - Interest: 5.000% [link] [comments] | ||||||||||||||||||||||||
| Refinancing Private Student Loans for wife still in school? Posted: 22 Nov 2021 09:01 AM PST Hi everyone, My wife is finishing her 4 year degree in a STEM field this Spring 2022. She has around ~$190K in private student loans at different interest rates, with highest being 9% and lowest being 6.24% from Citizensbank. We started looking around for lenders that will allow us to refinance and start making payments as soon as possible, even while she is still in school. I would be the co-signer, my income is significant at $250K/year and my credit score is 780. Does anyone have any suggestions for us? I talked to Sofi and Earnest - Sofi said she can't refinance while still in school, and Earnest said they don't do co-signers on refinancing. What would be the best course of action? I want to start paying these loans for her immediately so they don't accrue even more until Spring 2022 when she graduates, but so far it seems like there aren't any options for that so unsure what would be the wisest financial decision here. Thank you for your help! [link] [comments] | ||||||||||||||||||||||||
| Posted: 22 Nov 2021 12:22 PM PST Anyone else have a sudden amount of interest added to their account? I went from 17k to 23k. I am currently waiting on a loan discharge and i check my accounts everyday. From Friday to today my account went from 17k to 23k [link] [comments] | ||||||||||||||||||||||||
| Posted: 22 Nov 2021 04:04 PM PST Hi everyone. I am an International student in Toronto, Canada atm. Due to some unfortunate circumstances I find myself in a tight spot financially. I need to get a loan about $20k Cad to pay off for my studies. Is there any way I can get a loan from anywhere as I checked with the banks and they said no cause of me being an international student :(. Can anyone give me any suggestions !??? Thanks in advance [link] [comments] | ||||||||||||||||||||||||
| Offered a total and permanent disability discharge, but a bit confused Posted: 22 Nov 2021 03:43 PM PST I'm currently a first year student and my mother took out a Direct PLUS loan through the federal government. She is also considered permanently disabled through Social Security, so we got a letter in the mail stating that she is eligible for a loan discharge because of this. However, I still have 3 years of college left. If I read it all correctly, then we couldn't take out any more federal loans for the rest of my college education. Is this true, and if it is is there any way around it and still get the discharge? [link] [comments] | ||||||||||||||||||||||||
| Tentative repayment plan from financial aid department Posted: 22 Nov 2021 10:39 AM PST Hi everyone, I'm new to this community so I apologize if this is the wrong place for this kind of post. I will graduate with my Master's in May 2022 and I just got an email from financial aid with a tentative/suggested loan repayment plan. Here's the breakdown (based on a 10-year standard repayment plan with a 6.8% interest rate): Total principal balance upon graduating = $24,641 ($20,500 unsubsidized, $4,141 G-plus) Monthly payment = $284 x 120 months Total est. paid, incl. interest = $34,080 This is my only student loan debt - I don't owe anything from undergad, and I do not have any state or private loans. I don't intend to stick to this repayment plan as I'm sure there are smarter options, I just don't even know where to start. I want to look into refinancing but I don't want to get scammed or locked into a predatory plan. I'm sorry if this sounds dumb, I don't have a good understanding of loans even though I've tried. So if you have any thoughts/advice, treat me like Michael Scott and explain this to me like I'm five years old. PS: I'm in TX, if it makes a difference. [link] [comments] | ||||||||||||||||||||||||
| Posted: 22 Nov 2021 09:55 AM PST I have a question on how Partial Hardships are calculated. My wife is on IBR + PLSF and got denied a partial hardship with about $110k in student loans. She is about 5 years into PLSF with no missed payments. Her payment went from like $420 to $1260. I have $270k in loans and am on IBR. My partial hardship was approved and my payment went up from $680 to $721. I'm not really sure why she got denied? FedLoan doesn't know either, no letter was generated/sent and its been weeks. Our (file jointly) taxable income went from $113k to $127k from 2018 to 2019 and from $127k to $141k from 2019 - 2020. Is that enough to disqualify partial hardship? Lastly, we had a baby in 2021 so our family size grew by 1. We had the rep re-submit our paperwork because she didn't know why we got denied. I was just curious if anyone had this issue and what steps they took to resolve it, or were they denied a 2nd time. Also, will this impact her PLSF? She has 5 years left but I guess from what I read here, once your in PLSF / IBR you don't get kicked out, your payments will still count even on the standard plan? If we have to go a year with the higher loan payment + child care, are there any instances of going back on partial hardship? 1260 is more than our mortgage and a little less than day care. I know these are unique instances and I may not get a concrete answer, but any advice / # to call / forms to fill would be appreciated. [link] [comments] | ||||||||||||||||||||||||
| Lost my pell grant for previous school year. Now I owe $2600 Posted: 22 Nov 2021 12:47 PM PST Needing some advice for a pell grant reversal issue from my school. My senior year I was given the pell grant but was notified that my previous school years pell grant had been reversed and I know owe that balance. My university says that it's because of a question answered on my prior school year fafsa and they didn't check to see that it until it was too late to change the question. I was a homeless college student so the question had to do with my independent status and what they believed to be incorrect. My issue is that the school didn't notify me of the issue until it was too late to fix because it was being removed for a previous school year. Is this allowed? Or has anyone gone through anything similar? I've contacted the school multiple times and have continually been told that I'm stuck paying the balance. Any advice is appreciated. [link] [comments] | ||||||||||||||||||||||||
| Is consolidating Loans worth it for me? Posted: 22 Nov 2021 08:50 AM PST I graduated May 2020 with my B.S. degree and haven't paid a single dime into my Student Loans. I owe a total of $48,425.42 in Loans across a total of 18 Loans, half subsidized and half unsubsidized. When I graduated it took me a few months to land a job in the mist of the pandemic crisis. I started at $35K a year in my first job. I now just started a new job making $70K a year which is the most I've ever made. I have about $21K in high interest Credit Cards and a Personal Loan. Using the Personal Finance subreddit, I can eliminate the entire $21K of my Credit Cards/Personal Loan Debt by end of 2022 while, paying the minimum on my Student Loans after payments resume February 2022. My servicer for all the Loans was NAVIENT, but they've informed me my new servicer is now AidVantage. I have no doubt that I can pay off my Loans in 2-3 years after I finish paying my $21K first. The problem is that my Credit Score is technically shot because instead of having one Loan for $48,425.42, I have 18 separate Loans on my Credit Report with debts ranging from $1,500.00 to $3,500.00 Will I even save more money by consolidating it into one loan? [link] [comments] | ||||||||||||||||||||||||
| Posted: 22 Nov 2021 10:15 AM PST So I'm really kinda confused on my next steps. Background: I've been paying my student loans for the past 6 years without much issue. I started paying after my debt had ballooned to near $180k total and I now have about $140k total ($118k private, $23k federal). The ball is rolling downhill faster and faster now.
My financial situation has recently changed. I took a new job paying me $80k pretax in September compared to making $40k prior. On top of that, my new job is willing to do tuition reimbursement up to $5k a year which is something I want to do to obtain a new bachelors and then go get my MBA after. Biggest thing is that I don't know what is the best path to ensure that I maintain my goals. Any ideas out there for what you would do? [link] [comments] | ||||||||||||||||||||||||
| Posted: 22 Nov 2021 08:51 AM PST Hey everybody, Right now I have about 150k in student loan debt. This is a mix between federal and private. Somewhere around 50/50 if memory serves. If i start making extra payments per month how can i make sure it goes towards the principal? Would it be better to make payments per paycheck? It would be bi weekly so 26 paychecks a year. Would it be better to pay off my private loans first, or the federal ones? [link] [comments] |
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