- My loan was serviced by Fedloan servicing, and is now serviced by Mohela. Under Fedloan servicing, I was under the extended plan. Mohela is telling me that I no longer qualify for this because my loans are now under $30,000.00. As a result of this, i will be put back on a 10 year plan.
- My account is being transferred to Navient from MyFedLoan Servicing. Just read news that Navient is going out of the federal loan business. Has anyone from MyFedLoan been able to access a new account anywhere?
- 197k in debt - advice
- Wondering if my friend got scammed
- IBR reapplication required?
- IDR plan student loan, never pay?
- PSLF back-up plan advice
- Address updated
- Is Covid going to stop magically at the end of January 2022?
- Advice on loan payments
- Are refinance rates going to rise in 2022?
- Increasing Sallie Mae loans
- Refinancing advice
- Advice on Recalculating
- Payoff vs PSLF advice
- It’s done
- Advice for old private student loans no longer showing up on my credit report - should I even pay them?
- How concerned do I need to be..?
- Paying off holds to receive transcripts
- Help
- Question about IBR
- Ascent Funding (Previously Skills Fund) for coding bootcamp
- I considered Suicide because I may have to take out Loans to finish College
- Paying off student loan with savings?
| Posted: 29 Nov 2021 10:01 PM PST Does anyone know if I have any recourse to stay in the extended plan? [link] [comments] |
| Posted: 29 Nov 2021 10:08 AM PST Title. I have a payment schedule I'm keeping to take advantage of this opportunity to get my principle down before interest starts. Getting paid soon. Want that money out of my wallet so I don't spend it. I tried registering at Navient only to be met with a bunch of errors and crap. Just looked them up and found out that as of mid-November, they're not doing servicing anymore so I don't know where to begin looking to make my payments now. [link] [comments] |
| Posted: 29 Nov 2021 10:51 PM PST I just passed the Bar exam (law) and have a good job making a salary of 162k a year. I also have 197k in debt. I have 54k saved in my savings account (been saving to make large payment on loans once 0% ends in January) Once this grace period ends, I plan to refinance my loans. my highest interest right now is 7.6%. Question is: do you suggest paying off your loans asap so I can be financially free or putting that money somewhere else and pay the minimum? I am really committed to paying off my loans ASAP so I do not have that weight, but would like your input. Some more context: I do not receive financial help from anyone and while I do live with a parent, I do pay for many things. [link] [comments] |
| Wondering if my friend got scammed Posted: 29 Nov 2021 04:36 PM PST A close friend of mine was recently contacted by a company called Scholastic solutions that offers to lower your monthly payments of student loans by hundreds of dollars through a debt forgiveness program and debt consolidation, they need him to pay 800 dollars up front and he's already paid 400 of it and will pay the rest in a few weeks. I'm not doubting the legitimacy of the claim that they can lower his monthly rate as I'm well aware that that is something that can be done but is he being scammed by paying such so much money for it? [link] [comments] |
| Posted: 29 Nov 2021 06:24 PM PST I was wondering if anyone knew the answer to this. I was on REPAYE prior to March 2020 and obviously the COVID pause went into effect. Prior to loans restarting in February, is there any consensus on whether we need to re-apply for IBR or not? I can't seem to find a clear answer on this. [link] [comments] |
| IDR plan student loan, never pay? Posted: 30 Nov 2021 02:51 AM PST I have a low income and have been using the IDR plan for many years now, zero balance. I don't see this income changing. I have read around that after 25 years, the loan is forgiven. Is this true, can I reapply for the IDR plan until loan is forgiven after 25 years and not have to pay anything? The loan is accruing interest and I want to make sure that this is possible or because I don't want to end up paying a higher balance. [link] [comments] |
| Posted: 29 Nov 2021 08:30 PM PST I am currently pursuing PSLF, with about 1 year in (no payments yet because of the covid relief). I am on the PAYE plan though the prospect of 20 yrs of loans before it is paid off is starting to scare me. I understand at the end the remaining amount would be forgiven also with a possible tax bomb but what if that all goes sideways? Anyway, I am wondering if this plan would make sense. I have a total of ~$200k in loans currently and salary of ~$100k/yr. I was planning on paying on the PAYE plan but also putting aside additional $1,300 into a brokerage account and if at the end of 10 years the PSLF doesn't work for some reason (not that I'm planning on that) I would have the money available to pay off the entire amount which would be $275k at that time. Is that crazy or should I just go with the 20 year backup plan and get comfortable with that???? [link] [comments] |
| Posted: 30 Nov 2021 01:00 AM PST I got a message from mohela about my account and when I went to check I had noticed my address was updated from my old one. I have just moved into the new house three weeks ago and haven't had a chance to update my address anywhere. Is this a common thing or should I be worried? [link] [comments] |
| Is Covid going to stop magically at the end of January 2022? Posted: 28 Nov 2021 10:04 PM PST Edit: Hello, just making a general edit to clear up some misunderstandings. I am very thankful for the SL interest freeze over the past 2-sh years as I was able to repay a big portion of my loans. Hence my disclaimer, but I'm not sure if people thought I was being insincere. I am for sure not being stingy about repayment, but I definitely see how the tone of my post comes off that way. Nevertheless, I know a lot of people who suffered a greater loss from the pandemic, and the freeze didn't help much to prepare them for this resume. Overall, I am disappointed, just like many, that there has not been a permanent reform to our education and student loan system because even without Covid, student loans have been a big stressor in the lives of many. The government can do more that would greatly ease this looming worry, whether that be another extension or permanent change to student loan policies. My main question was on why January 2022 was chosen to be the end date, but it seems that no one is entirely sure and that it's just an arbitrary date. To those who think I'm trolling for asking this question, I am not. I always find it important to question things in life. I don't like to blindly follow things without reason. I choose to wear masks and got vaccinated not just because the government said so, but because it is the safer choice for myself and for others. I obviously can't do much about the freeze ending, but I still think it's important to have these kinds of discussions. Conversations ignite change and reform. I asked this question here because this is a subreddit for all discussions on student loans. I disagree with the statement that I am also using Covid only when it is convenient for me. I'm still here wearing masks, sanitizing, and social distancing. I don't know about others, but these things are still emphasized where I'm from. I don't change my narrative only when I find it convenient, unlike what politicians are doing. Lastly, I appreciate the people who have answered some things I was confused/unclear about like the date, employment, and general sense of fear with Covid. It's good to get these perspectives, and I have a more balanced perspective on this topic. Now with my loan servicer emailing me every week to remind me of the 0% interest ending and to get ready for repayment, I have been thinking more often about the magical date that is January 31, 2022. The entire reason for this freeze was due to Covid, and as far as I know, we're still in the pandemic. Freaking covid variants are still emerging, and job insecurity still exists. Social media feeds are covered with headlines of omicron, vaccine mandates, and new travel regulations. It's frustrating because people are still concerned about Covid, but when it comes to providing support to the public, it seems like Covid no longer exists. Be consistent with your narrative. I continue to wear masks, social distance as much as possible, and sanitize things frequently used to be on the safe side. Just feel like shit when Covid is used only when it's convenient for one's political agenda, regardless of who does it. If the Biden administration can confidently announce that Covid will be gone by January and labor force will be flourishing, resuming student loan repayment doesn't make sense to me. Re: title. Disclaimer: As much as I'm confused about this definitive end to 0% interest, I am grateful for the CARES Act. The reason for this program still remains relevant, hence my confusion/frustration. If anyone has a counterargument or more information on why/how Jan '22 was determined to be the end of the final extension, I am open to hearing that point. [link] [comments] |
| Posted: 29 Nov 2021 06:02 PM PST Hi all, I would like some advice on how to tackle my student loan debt. I currently make 90k and have expenses about 3.3k monthly with about 1.3k leftover. I want to pay about 5k lump sum before forgiveness ends. I plan on paying off my grad plus loan first. I'm currently in a dilemma where my undergrad loans will make my monthly payment initially higher because they will be due in 4 years. They have been deferred or on forbearance due to me going back to grad school. I have not paid anything towards my undergrad for the past 4 years. Below is my breakdown of my current loans. Direct unsubsidized : 22065 6.6% Direct unsubsidized: 20757 6.1% Direct plus 3581 7.6% ( going to knock this out first) Direct subsidized 2636 3.4% Direct subsidized 3446 3.4% Direct subsidized 4247 3.9% Direct subsidized 4208 4.7% For my graduate loans , I am debating on refinancing my house to possibly lower the interest rate in the future or would it be best to tackle the grad loans first and not refinance? I appreciate the advice! [link] [comments] |
| Are refinance rates going to rise in 2022? Posted: 29 Nov 2021 11:07 PM PST Sofi rates look pretty attractive right now so I'm thinking about refinancing within the next week. My fear is that once the forbearance is over in February 2022, a lot more people will be looking to refinance and thus rates will rise... is that a thing or are rates not dependent on the market? [link] [comments] |
| Posted: 29 Nov 2021 11:32 AM PST I am a fourth year senior & I have been privileged enough to never had to take out a private loan. This year, I had to apply for a Sallie Mae loan due to falling onto financial hardship. I work full time as a waitress but I have exhausted all of my savings & worry I will not be able to make my rent and car payment this month. I was reading my loan agreement and saw that I would be able to request up to $5,000 more in additional funds. I'd like to request $2,500 but I am unsure how good of an idea that is. I applied for the CARES act but have not heard back on whether I will be receiving that money or not. If anyone has any experience with this, I would love to hear what you did in this situation! [link] [comments] |
| Posted: 29 Nov 2021 02:33 PM PST So I have about 37k of private loans through Firstmark, with fixed interest rates of 6.74 on some and 6.79 on the rest. The monthly payment is doable, but I will be very broke and want to try to refinance and hopefully have at least a slightly lower monthly payment. I'm just looking for advice on where to start looking in order to find the best option for me, because I'm feeling a little overwhelmed! [link] [comments] |
| Posted: 29 Nov 2021 02:17 PM PST Currently I am on an income-based repayment plan as a part of the Public Service Loan Forgiveness program. Recently, I switched jobs and currently make about 5K less a year. Will recalculating lower my payment? [link] [comments] |
| Posted: 29 Nov 2021 05:12 PM PST Hello! I am seeking advice if I should pay off my loans or continue with PSLF. In 2022 I will be starting a job with a 91k salary. I have 46k in student loans. I have 26/120 qualifying PSLF payments at this time. I fully anticipate staying in the non-profit sector for the needed time. I am also getting married next year. My future husband makes about 48k and has no loans. I have a mortgage of about $1,100. I honestly never thought I would make over 50k my entire life so I'm trying to get a game plan together. Thank you! [link] [comments] |
| Posted: 28 Nov 2021 07:08 PM PST I haven't received an email regarding that it's complete nor an email about getting money paid in back ($6300) $17,164 dollars of debt is wiped away due to the discharge. Finally. 3 months of waiting. [link] [comments] |
| Posted: 29 Nov 2021 10:30 AM PST Hey all! As student loan payments are about to start up again, I have a unique situation. I have two private student loans that went into default YEARS ago. So long ago that they're no longer showing up on my credit report. The company that's now servicing has offered to negotiate a lower one-time pay-off, but since these aren't going to affect my credit, is there any reason I should pay them at all? Has anyone been in this situation before? Details: -Loans are from appx 20 years ago -the two loans in total are appx $12,000 -serviced is offering to allow me to pay them off with a one-time payment of appx $5000 Open to any and all advice! [link] [comments] |
| How concerned do I need to be..? Posted: 29 Nov 2021 08:22 AM PST I got an email from FedLoan last week stating that my IBR application expired. When I logged on to my account it stated they'd asked for additional information and I hadn't provided it and thus had since expired. However, I have an email stating that my application was approved. No requests for additional information were received. As well as my other servicer (AES) still shows my IBR as valid and no issues. I've emailed them to respond on Tuesday of last week, unsurprisingly I have not heard back, but I am not sure what steps to take going forward. . . Any input? [link] [comments] |
| Paying off holds to receive transcripts Posted: 29 Nov 2021 08:45 AM PST I apologize if It this is the wrong sub. I dropped out of my college (PVAMU) around 2015 for personal reasons. I'm looking now to get back in school but I have to pay off the holds to either re-enroll or transfer. The total is 2900 and I just don't have that right now. Are there any programs available for assistance with these kinds of matters? [link] [comments] |
| Posted: 29 Nov 2021 07:28 AM PST This is kind of rambling so please be patient with me. Okay so I took out a loan in maybe 2015 for $1000 from my school, so it was a private loan but through the college. I dropped out in 2017, and paid it down to $300, before getting it deferred. The last information I have about it is the deferment approval. I did not get anymore emails, mailed bills, any info at all about this loan until I got a letter in collections back in July for $600. I didn't even remember this loan. Had I gotten a bill for it, I would've paid it off. So then I'm back and forth with the school and I end up getting another collection notice from a different company literally 2 days after getting a letter with more info from the first. The school agrees to take it out of collections if I pay it with their loan company. This is not the initial company the loan came from as the school changed who they were working with twice. I set up a payment plan to start in September and have not gotten a bill. The new company is impossible to get ahold of because I don't have any info. I had to set up the payment plan in chat, and they couldn't give me confirmation of the chat conversation. This is a mess and I'm so confused and I don't want to end up with a ton of interest for a bill I would've just paid had they billed me. [link] [comments] |
| Posted: 28 Nov 2021 10:44 PM PST Here's a quick background about me. Graduated in 2019 and started off PRN job. Luckily found a full time job about 6 months ago. I am thinking about starting IBR (student loan $250k, salary $100,000 including bonus). But I saw the monthly payment is determined from AGI. My AGI on my 2020 tax report is based on my earning when I had a PRN job. If I apply IBR now, will my monthly payment be based on 2020 AGI and will remain the same for the next 12 months? Or should I recertify after 2021 tax report? [link] [comments] |
| Ascent Funding (Previously Skills Fund) for coding bootcamp Posted: 28 Nov 2021 08:54 PM PST Might take out a loan for a coding bootcamp, at an APR of about 12%. Does anyone know about this company? Or has anyone ever had to do this before to fund themselves for a coding bootcamp? (And the job search period beyond it) [link] [comments] |
| I considered Suicide because I may have to take out Loans to finish College Posted: 29 Nov 2021 07:32 AM PST My State Scholarship may run out before I finish my degree and pell grants only cover half to three quarters of tuition. I don't have a good enough GPA to get another good scholarship. I know this thread is for people who already have student loans but I thought maybe you guys had some advice before I had to or if Suicide was the only way out. [link] [comments] |
| Paying off student loan with savings? Posted: 28 Nov 2021 07:18 PM PST Yay or nay? I have about 20% left on my loan. It's in the 4 digit range, and I can see the light at the end of the tunnel. I'm wondering if I should just keep paying small amounts (since I have been able to use interest forgiveness plans), or just pay it out with my savings? The majority of my savings would go toward the loan, but I can now put the money I make towards savings. I am a single mom who will be moving into a new apartment with kiddos, so it's not like I can live responsibility (and rent) free. I've been paying these loans for 10 years, so what's another few months? I'm so close. Wondering what I should do. [link] [comments] |
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