Paid in full. 100% Debt free. Student Loans |
- Paid in full. 100% Debt free.
- When government income based student loans resume in Jan 22, what year will they for payment calculation?
- Refinance some federal loans to lower monthly payment?
- I need to take out $87,000 for pilot training
- The only reason I’m alive
- Updating FAFSA for spring semester
- Servicer being changed
- Refunds on payments made during the pandemic - still an option when the forbearance is over?
- What does “MOHELA/DEPT OF ED account balance increased to $4,000.00” means?
| Posted: 20 Nov 2021 05:50 PM PST After 5 years, I've paid in total $189,173.41 in federal student loans. Don't rely on the government to forgive your loans. The pandemic helped me pay it off quickly with no interest accruing. Looking back I could have saved a lot of money if I was more aggressive in the beginning. [link] [comments] |
| Posted: 21 Nov 2021 11:07 AM PST For IBR, It seems logical they should use 2021 earnings but most won't have all their tax information to present by the end of Jan 22. My lender keeps calling me reminding me payments start in Jan 22 and want me to call them but I'm waiting to see what Biden does before making any arrangements. I heard they may cut IBR to 5% instead of 10% of income. [link] [comments] |
| Refinance some federal loans to lower monthly payment? Posted: 21 Nov 2021 10:45 AM PST Hi y'all! I'm hoping to get some student loan advice. I know the general rule of thumb is DON'T refinance government loans to private because you lose valueable protections on that money. However, I think* I may be in a situation where I am an exception. For starters I currently have 42k and change in public student loans and after dumping money into my private loans, I'll finish the year with 25k in private. My public loan payment will be $453 a month and my private will adjust to $185 for a monthly total of $638. Financially, this amount is debilitating and won't allow me to move out of my parents house until I dirastically lower my monthly payments. This is my main goal. I do want to note what an absolute blessing it is to be able to live with my family while I l figure things out. I recognize not everyone has this opportunity and I don't take their physical and emotional support for granted. I keep getting emails about loan refinancing and fiddled with some numbers. It looks like I can take my two largest federal loans (approx $15k total) with the highest interest rates (6.6% and 6.08%) and lower their interest to just 3.10%. This refinance will lengthen my loans from 10 to 15 years. However, I'll will actually be paying about $1,900 LESS in interest even though I'll be paying for longer. I'll also SAVE $76 per month on payments. If I go through with this, I'll still owe about 26.6k to the government and have to pay them $280 per month. I'll still have the protections on the money I leave in the government account and it would still be eligible for forgiveness if the president or congress ever decides to do so. What do you guys think? Is my situation and exception to the rule? Any help is greatly appreciated as I'm driving myself mad crunching numbers every day! [link] [comments] |
| I need to take out $87,000 for pilot training Posted: 20 Nov 2021 08:47 PM PST I hope to become a commercial airline pilot by the time I'm 35. I'm 29 today. I have zero experience. But in five years, with all the training, ground school, flying, studying, testing, vocal test, simulators, and licensing, I should be ready to fly passengers to their destinations. But here's the hard part: paying off $87,000 plus interest. Right now, my budget will be $500 a month before it's time to start paying back. I cannot do more than that. Is this possible? My payback plan is this: Pay twice every month. When in a better position, career wise, every October, make one $5,000 payment along with $500 monthly payments. Is this possible? [link] [comments] |
| Posted: 21 Nov 2021 01:45 AM PST Is because my parents co-signed my loans and I can't make them pay for my mental health issues. [link] [comments] |
| Updating FAFSA for spring semester Posted: 20 Nov 2021 04:01 PM PST I just got admitted into grad school for January, but I was an undergrad in September, so I filled out FAFSA as a fourth year undergrad. How the hell do I fix it to get the graduate loan? [link] [comments] |
| Posted: 20 Nov 2021 03:19 PM PST Would a new servicer taking over my student loans lower my credit ? [link] [comments] |
| Refunds on payments made during the pandemic - still an option when the forbearance is over? Posted: 20 Nov 2021 02:48 PM PST I know that it's possible to request a refund on payments made during the forbearance, but does anyone know if that will still be an option after Jan 31? [link] [comments] |
| What does “MOHELA/DEPT OF ED account balance increased to $4,000.00” means? Posted: 20 Nov 2021 02:45 PM PST Please let me know if it's bad or good it had showed up on my experian [link] [comments] |
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