Student Loan Forgiveness Scam? Student Loans |
- Student Loan Forgiveness Scam?
- Cashing a cheque with a hefty loan
- Interest payment pause on new graduate student loans?
- Equity out of home to pay off student loans
- No clue where to begin for private loans
- Will Discover let me do a balance transfer for a Charge Off?
- Just got married in Sep, will be applying for IDR/PAYE/REPAYE for the first time. Will they certify using my existing single tax returns, or new 2021 married status?
- student loans without good credit?
- Student Loan or Similar for a NON-Title IV School
- Unequal distribution of financial aid
- REPAYE to Standard?
- Paying Loans While Living Abroad
- How to find interest amount on paused student loans?
- Private Loan Help
- Income Driven Repayment Question
| Student Loan Forgiveness Scam? Posted: 06 Nov 2021 06:21 PM PDT I submitted a Borrower Defense Application to borrowerdefense@ed.gov in September and they emailed me back confirming they received it that same month. Yesterday I received a voicemail. Here's what they said: "This is (callers name) if you can just give me a call back when you receive this message at 877-XXX-XXXX. I'm not sure that you received a notice that just went out recently regarding your federal student loans but just in any case I don't want your prequalified status to change. Especially the qualifications for forgiveness or possible loan discharge. So if you had a few minutes I really just wanted to go over the details with you but I do hope to hear from you soon. Have a great day" Is this voicemail legit? I didn't receive the notification the caller is referring to. Also, I checked my studentaid.gov and myfedloan.org account and don't see any alerts there. Edit: Thanks guys, I appreciate it. [link] [comments]  |
| Cashing a cheque with a hefty loan Posted: 06 Nov 2021 03:30 PM PDT I have a friend in the US who has a considerable amount of student loan debt (over $150k now) that he will never be able to pay off. His mother recently passed and he's received a life insurance cheque for $US14,000. It's an online/international bank with no local branches. He's down on his luck and could really use the money to survive. Any bank needs to inform the government of cheques over $10,000 and he's too scared to get the money deposited into his bank account for fear it will be deducted to repay his loan. Any advice or suggestions on how he might be able to actually keep some or all the money? [link] [comments]  |
| Interest payment pause on new graduate student loans? Posted: 06 Nov 2021 11:00 PM PDT If I took out a graduate student loan this semester, would it be eligible for the COVID-19 relief for 0% interest until January 31, 2022? [link] [comments]  |
| Equity out of home to pay off student loans Posted: 06 Nov 2021 10:10 PM PDT I owe a lot for post - grad degree. Interest is about 7% and have been on a PAYE program for 8 years. I have 12 years left before forgiveness. Haven't made a dent in principal since I started paying. Thinking about taking equity out of my home to pay off student loans in a lump sum. I had a big sales year, and my payments will jump to $2k/month. Any thoughts on this strategy? Will essentially convert my debt to 30 years at 3.5%. Also - anyone have luck negotiating a lump sum payment with the Service providers? [link] [comments]  |
| No clue where to begin for private loans Posted: 06 Nov 2021 04:31 AM PDT First semester of college. Won't go deep into circumstances, basically I've just been made aware that the rest of my college will not be paid for by my parents anymore. I'm already working on applying for scholarships and grants and I can figure out FAFSA, but where do I start looking at private loans? I know there's a lot of shittier ones and I want to avoid those and have the least painful experience possible, if such a thing exists. My tuition is relatively pricey and the vast majority of it needs to be paid with private loans. Any general advice is appreciated. [link] [comments]  |
| Will Discover let me do a balance transfer for a Charge Off? Posted: 06 Nov 2021 12:47 PM PDT Opened a new card that offers 15mo 0%, with a decent enough limit to do a BT. Anyone have experience with Discover to know if they will honor a convenience check to pay off my charge off balance? I REALLY want that CO to start aging off my account, and the payment plan keeps it alive for 2 more years. Thoughts? Ideas? B. [link] [comments]  |
| Posted: 06 Nov 2021 06:25 AM PDT Hi all! I'm sure this information is out there, but I have not been able to find a clear answer. This is new to me, and I'm struggling through a lot of info. Thank you in advance for your help! I've been paying down FFELP loans on the Extended plan for about 12 years, and working for a qualifying 501c3 for about 10. I have ~105 repayments that will now count toward PSLF under the waiver, but I need to consolidate the loans and start an IDR plan this year (it's only 105 because the loans were in forbearance for a short time). My question is not about PSLF, but about the income driven plans, how they're calculated, and what to expect given my tax status. I just got married in September (yay!). I had been planning to file jointly until I saw the news about the temporary waiver. Now, after doing some research, it seems like filing jointly will greatly increase the monthly payment if my married status is taken into account during calculations. On the other hand, I've been contributing to a Roth IRA all year, and I'd have to remove that money with a penalty if I file separately. Aside from loan payments, it makes more sense to file jointly this year. So I'm wondering…since I just got married in September, all my existing tax returns are from when I was single. What do they use to calculate monthly payments? If I consolidate and apply before filing the 2021 taxes, would they go off of last year's? I'm not really sure about the nitty gritty of how this part works. Thank you so much for your help! [link] [comments]  |
| student loans without good credit? Posted: 06 Nov 2021 08:21 PM PDT i need a student loan but my family and i have bad or no credit. i've searched online and asked around but to no avail, everyone and their co-signer have good credit. and it's hard to find someone outside of my close family who has good credit to co-sign for me. do any of you know where to receive a loan without good credit? outside of federal loans and grants [link] [comments]  |
| Student Loan or Similar for a NON-Title IV School Posted: 06 Nov 2021 08:09 PM PDT I am in an extraordinary predicament and am seeking advice on specialty lending services. I currently attend an international school that is not on the Title IV list of eligible institutions. I have financed my studies without a loan but I came to realize that I will likely be short $5k-$10k in paying tuition & living expenses before I finish. After some research, I haven't found a domestic lender that offers a student loan to someone not attending a Title IV school nor have I found a lender that offers a personal loan with a deferred payment schedule AND accepts applicants without income. I also am ineligible for a student loan from lenders in the PRC (location of my school) due to lack of citizenship. Some questions: Do you know of a lender currently offering student loans for schools not listed as Title-IV eligible institutions? Do you know of a lender that offers personal loans with a deferred payment schedule and accepts applicants without income? Thank you for any recommendations/suggestions that you give! [link] [comments]  |
| Unequal distribution of financial aid Posted: 06 Nov 2021 08:58 PM PDT I know someone who receives LOTS of financial aid and other government assistance. In fact, he told me this. It's way more than he actually needs. He's saved up all that extra income for a few years and he's using it to buy a house. Now how is this fair and how does the government allow this to happen? Why are the lower class receiving more than they need while the middle class struggle to pay out of pocket for school and other things? [link] [comments]  |
| Posted: 06 Nov 2021 03:37 PM PDT Hi! So, graduated in 2019 with $25k in federal student loans and went straight on the REPAYE plan (loans now sit at $23k). My income has gone up considerably the past year and a half (right within the timeline of the COVID forbearance) and I've managed to put aside $12k aside just for my loans. I was planning on making the big $12k payment in January when payments start back up and then switch to the Standard payment plan now that I can afford to be off the REPAYE plan. So questions are: Is there anything I need to look out for when making that big of a payment on the loans? If I switch from REPAYE to Standard in January, will the Standard plan now be based on the total that's post the $12k payment (so based on $11k rather than the original $25k) Does it even make sense to switch from REPAYE to Standard? Are there any cons to switching if I can afford it now? Thanks for reading and for advice in advance! [link] [comments]  |
| Paying Loans While Living Abroad Posted: 06 Nov 2021 09:48 AM PDT I completed my undergrad in the US, never moved from my hometown, and my parents' income was low enough that I qualified for many grants and as a result, had no student loan debt when I graduated. However, I decided to move abroad to the UK do a masters degree, then decided to do a second one. I just finished my degree and have officially graduated this past summer. I was lucky enough to get a job with a local council (local government) and they have sponsored me to stay in the UK for four years to work. It is my intention to permanently stay in the UK, which after five years of employment I should qualify for permanent residency. Thanks to the covid relief fund, I haven't had to make any student loan payments yet, but these are set to start again in January. I'm unsure of how to sort things out. I originally thought I would do the PAYE or REPAYE scheme so that I would only pay 10% of my income every month. My job currently has my salary set to the equivalent of $40k/year (before taxes). I assumed then that I would be paying $4000 per year, i.e about $350/month. However, when I do the loan simulator on the studentaid website, it estimates my payments at 3k per month. Can someone help me figure it out? I've read somewhere that my discretionary income would be calculated by considering 150% of the poverty level of your home state. My issue is that I no longer live in the US and don't know how this would be calculated. Can anyone tell me about their experience with paying their student loans while living abroad? For more info, I have both Unsubsidised loans and Graduate PLUS loans, if that makes a difference. It says that in total I have 3 of each, should I consider consolidating them? I'm completely lost, any words of advice are welcome. [link] [comments]  |
| How to find interest amount on paused student loans? Posted: 06 Nov 2021 11:57 AM PDT My wife and I are looking to pay off some of her student loans - we want to attack the one with the highest interest rate while they are paused. How do we determine which has the highest interest rate? Since the interest is currently paused they are all just displayed as 0% interest. Any suggestions? Thanks! [link] [comments]  |
| Posted: 06 Nov 2021 10:54 AM PDT Hi there, I'm classified as a non-degree graduate student, as I'm taking the last few prerequisites for a DVM program. However, I don't qualify for federal aid (per my financial aid office) and I'm having a hard time finding an appropriate private loan to cover the cost (I know this isn't the best choice, but it's my only one at this point due to timing). Every private lender I've looked at so far states you have to be in a "degree-granting program" which I'm not. I don't even think I qualify for the Sallie Mae career loan as it states the school must be "non-degree granting." I'm so lost and stressed right now. If anyone has any advice or suggestions, I'd be very thankful! [link] [comments]  |
| Income Driven Repayment Question Posted: 06 Nov 2021 08:45 AM PDT I have no money and qualified for an IDR plan. I just got a job offer. Do I need to tell my loan servicer about my new job? [link] [comments]  |
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