Just a name change. Student Loans |
- Just a name change.
- Another loan extension is HIGHLY likely - 0% Interest 2022
- Possible refinance options
- Can I pay off my student loan debt down to $1 to keep my loan history and make interest payments on the $1? Or will it charge me interest on the amount I was loaned?
- Officially at the halfway mark!!! ($110,000 --> $55,000)
- What is your major and how much student loans do you have?
- Question about loan forgiveness
- Student loan debt as a international student
- Is Credible working for everyone else?
- Refinancing a loan disbursed to me as the borrower rather than the school I attended
- Why didn’t I do this sooner?
- Relocate to cheaper market, payoff all loans with house profit?
- Did anyone notice how slow and crappy Aidvantage website is?
- Paying now VS. Waiting
- Done
- Do you have to pay student loans if in school for a post-graduate certificate?
- Is it possible to refinance my student loans from Sallie Mae to another lender for a lower interest rate when I’m done with school ?
- How many are awaiting Borrows Defense??
- [State of IL] are there any state tax benefits to sending money to a 529 account and then immediately using it to pay student loans?
- Please help someone who is a first time borrower
- StudentAid.gov Documents— I say contact the Dept. of Ed
- I refinanced my loans 3 days ago—but Biden just extended the pause until May
- Has anyone actually made a payment to aidvantage yet?
- taking out federal student loan, didn’t qualify for federal pell grant?
| Posted: 24 Dec 2021 07:27 AM PST So who else feels that the change from Sally Mae to Navient, to this Aidvantage are all same company with just a different name. I mean you even use the same login and send payments to the same place. [link] [comments] |
| Another loan extension is HIGHLY likely - 0% Interest 2022 Posted: 23 Dec 2021 04:19 PM PST It goes without saying that there is no way the Democrats will go confidently into a November midterm election with a significant part of their constituents paying on loans they promised to forgive. Another loan extension is practically guaranteed. That not even counting the excuse that's used regarding the proliferation of COVID-19 variants. With COVID-19 out of control and midterm elections later this year, loan extension throughout the year is guaranteed. [link] [comments] |
| Posted: 24 Dec 2021 06:47 AM PST I just wanted to drop a few sources for those contemplating refinancing after this interest pause is up. I've checked out a site, Laurel Road, on the info from another user here. It gave me the rate of 2.7% on my $30k balance. Cut my rate in half. Offered 5-7-10-25-20 year periods. Another site I checked into a little was "earnest". They had rates as low as 1.9% and the average they quoted was 2.92% with the same term lengths. 5-7-10-15-20. Hope it helps anyone. [link] [comments] |
| Posted: 24 Dec 2021 11:08 AM PST What the title says. My student loan is the longest loan I've had and I'd hate to lose the history and take the credit dip. If I can pay it down to $1 and make the tiny payments per month on interest, is this something anyone has heard of before? Sorry if stupid question, thanks. [link] [comments] |
| Officially at the halfway mark!!! ($110,000 --> $55,000) Posted: 23 Dec 2021 09:58 AM PST How I Accrued $110k in Student Loan DebtI had a full ride to my undergrad but had to take out loans to cover the cost of living (even with a part-time job, I couldn't afford groceries and rent.) Tuition increased about 5-7% per year, and my scholarship did not, so I finished undergrad in 2013 with approximately $35k in debt. I also experienced some medical emergencies during that time, so I had credit card debt that I had to prioritize. I went to graduate school because I was accepted into one of the top 3 programs in the US for my field/craft. I decided that I'd pay whatever I had to to get my Masters degree. I finished that program in 2015 with $50k of additional student loan debt, and I hadn't made any payments to my undergrad loans during that time so my total debt was just over $87k-ish. Unfortunately my degrees did not land me a high-paying job and my first salary out of school was $31k. Life threw a lot of curve balls the first few years out of school, so in addition to student loan debt I took on credit card debt too. I believe the total amount of credit card debt was somewhere around $10-12k. In 2019 I had over $110,000 in student loan debt. My husband and I finally sat down, looked at the situation honestly, and agreed to start tackling it head on. We live in a pretty expensive city (Toronto) but knew that there were areas we could improve in our spending. We ended up buying You Need a Budget and learned about our spending habits. We have visited, revisited, and reworked our budget many times over the last few years. I have changed jobs many times to increase my salary - each job taking me further and further away from what I studied in school. But my flexibility and openness to learning and adjusting based on the economy has been a huge help. During covid my husband lost the majority of his work, so he taught himself how to code (!!) and got a job as a front-end web dev. He now has a salary for the first time ever. I have built a pretty good career for myself in tech as well, so we are able to put just over 1/3 of our monthly income towards student loans. We used unbury.me to figure out the smartest way to pay back our debt (highest interest loans have to go first.) Last October we finished paying off the interest on all 12 loan accounts, and have been hacking away at high interest loans since then. This Christmas we decided to set a $100 budget for gifts for each other, and pay as much as possible towards our loans. Yesterday I put a very large payment against the loans, and we are officially now at $55,000 in debt. We are finally at the halfway mark!!! Some things I have learned so far:
What's NextOur goal is to pay off the rest of the debt by December 2023. If we both keeping working our butts off and growing in our careers, and any pay increase we make is applied to student loans, we can absolutely get there by December 2023. I cannot wait to be debt free. [link] [comments] |
| What is your major and how much student loans do you have? Posted: 24 Dec 2021 11:45 AM PST I majored in IT at a state college. Currently have 39k in student loans and none of them are private. [link] [comments] |
| Question about loan forgiveness Posted: 24 Dec 2021 11:18 AM PST I started with loans of about $85,000 and I'm over $100,000 now. I've been on an income-based repayment plan for 10 years. These aren't private loans, they are federal through Navient/Aidvantage. Last year, I started trying to do the math on how I could pay these off. With some consolidation and extremely rigorous payments, I could pay them off in 14 or so years if I was putting $1200 a month, or close to it, towards my loans. The thing is, that's a ton of money for me. With my income-based payments, I'm paying about $300 a month. I live in a very high COL area and I definitely don't make good money even with the occasional second job when things get tight. I also don't expect my salary to increase significantly in the next few years. Isn't it true that my loans will be forgiven in another 15 years anyway as long as I stay on this income-based plan? Isn't that a better option? At this point, isn't that the more cost-effective choice? Because then instead of putting all of that money towards loans that would have been forgiven by the end of that time anyway, I can invest in my IRA or I can try to start saving for a condo. [link] [comments] |
| Student loan debt as a international student Posted: 24 Dec 2021 07:30 AM PST Hello, I'm 19 years old and I'll study in the states next year.On a community college for the first two years and on a normal college afterwards to make my bachelors and masters degree. I want to study BBA/MBA. My question is now,how can I find a student loan debt as a international student ,and is there any I can pay back over the years which doesn't have a too highInterest rate? I will have a part time job on campus,but thats it.And I need the student loan debt first,to show that I can pay for the college…. Means I can't show them a part time job on campus rn bc I can just get that when the college accepts me and in order for the college to accept me I will need a student loan debt Any tips? [link] [comments] |
| Is Credible working for everyone else? Posted: 24 Dec 2021 10:18 AM PST Hi all, I'm trying to consolidate/refi by private loans and settled on credible to get a picture of what's available to me. I was able to register and add my cosigner, but now when I go to my dashboard to view my rates, clicking the orange "view rates" button simply refreshes the dashboard. I've tried every button possible, turned adblock on and off, other browsers, mobile data vs. wifi, etc, but I have the same problem. One of the URLs it redirects me through before going back to my dashboard looks like the one I need to settle on (contains my loan ID), but when I try copying and pasting that URL, it also directs me back to the dashboard. Since it's the holidays, I'm assuming they aren't answering emails (I sent one yesterday), so I figured I'd see if anyone has/had similar issues. Thanks and happy holidays! [link] [comments] |
| Refinancing a loan disbursed to me as the borrower rather than the school I attended Posted: 24 Dec 2021 08:48 AM PST Today I refinanced about 4 different student loans through CommonBond. However there was one loan that they stated was ineligible for them to refinance. They stated that "the loan is disbursed directly to you as the borrower, rather than to the school, which makes it an ineligible student loan. This will likely be an issue with most student loan refinancers, but I can't speak for every refinancing entity out there, of course." Does anyone have any experience/know if there are any lendors that I should reach out to try and refinance this last loan, as it is currently at 6% APR so I would very much like to try and reduce that. (CommonBond gave me a 3.19% APR for all the loans they did refinance) Any help would be greatly appreciated. Hope you are all enjoying the holidays with your families. Thanks!) [link] [comments] |
| Posted: 23 Dec 2021 04:37 PM PST Finally consolidated my $45k in federal student loans and cut my monthly payment by more than half. Sure I'm restarting the life of my loan, but the online tool reflects a not insignificant amount discharged at the end of the loan. This will help us so much, can't believe I didn't do it sooner. [link] [comments] |
| Relocate to cheaper market, payoff all loans with house profit? Posted: 23 Dec 2021 09:24 PM PST We just found out that my husband has an offer to relocate to a city with a much lower real estate cost (and get a 30% raise). I work remotely and can keep my job when we move. If we sell our current home (after 8 years of ownership), we would get enough profit to payoff our collective $120k in student loans AND put a downpayment on a modest home in the new city. We are both so emotionally DONE with dealing with loans. And we just had a baby 7 months ago and are ready for a "fresh start". Is this a CRAZY idea? Should we not payoff our student loans for some good reason? What are some good resources to consider as we make this choice? Thank you in advance! [link] [comments] |
| Did anyone notice how slow and crappy Aidvantage website is? Posted: 23 Dec 2021 08:46 AM PST |
| Posted: 23 Dec 2021 01:04 PM PST First time poster here, looking for advice. I have saved up enough during forbearance to cover the entire cost of my student loans but I'm unsure when to send in my payment. Since I graduated in March 2020, my payments aren't due until June 2022. Is it smarter to transfer the money to a high yield savings account while I wait for the due date or just to pay it now? Student loan debt is my only debt at the moment. [link] [comments] |
| Posted: 22 Dec 2021 08:08 PM PST Officially paid off my student loans as a birthday gift to myself this week right before Biden made his announcement 🤦🏻♀️. If I were to go back and do it again I would have definitely taken my loans and spending as a whole more seriously while I was still in college and started chipping away at it then to get a better head start. Overall though this sub has helped me a lot on my journey and best of luck to the rest of you out there✌🏼 [link] [comments] |
| Do you have to pay student loans if in school for a post-graduate certificate? Posted: 23 Dec 2021 11:52 AM PST I'm at the early stages of looking at certificate programs and want to know if I would be required to make payments on my student loans while I'm in school. When I was in grad school I wasn't required to make payments on my federal and private (salliemae) student loans because I was in school full-time. I believe I had to be full-time for that to apply, but I don't remember, and I don't remember any verification process. [link] [comments] |
| Posted: 23 Dec 2021 01:38 PM PST |
| How many are awaiting Borrows Defense?? Posted: 23 Dec 2021 12:20 PM PST I must say I am jealous of those posting success stories. My student loans have been affected by either a degree not recognized or fraudulent/misleading claims. I have not one, but 2 Borrows Defense applications and wonder how many others are out there like me. [link] [comments] |
| Posted: 23 Dec 2021 01:51 PM PST I feel like probably not since the benefit is only on capital gains, which there would be none... but I figured I'd ask. [link] [comments] |
| Please help someone who is a first time borrower Posted: 23 Dec 2021 03:06 PM PST Hi guys, I really need some clarification and advice. First of all, I have a bachelor's degree already, I did the 4 years undergrad and just graduated. The only loans i've ever taken out was by accident my freshman year of college for $5k from fafsa. Now i decided to do nursing school, I'm doing an accelerated program that is kind of pricey but I am looking at scholarships, and do have most pre-reqs done because of my bachelors in bio I just completed. I am definitely taking out loans for nursing school, I already filed fafsa and they offered me only around $3k in loans. My main question is here- I clearly need to look into private loans. I almost completed an application but backed out of it before submitting, for those who depend on loans, when they ask for how much money you need, do you put the yearly cost? Or do I ask for the loan that will cover my entire time in nursing school? and lets say i overestimated it, how do i go about returning the extra money? please give me any advice on this, and be detailed af! I really want to understand how this works. I would also love to hear what loan lenders you recommend. I am 22 and have a good credit score so i really dont want to jeopardize that. Thank you in advance!! Edit- also if i do only put in a yearly cost, do i re apply every year for more loans? How do I request more if I need more? I probably sound so dumb rn but I've just never done this [link] [comments] |
| StudentAid.gov Documents— I say contact the Dept. of Ed Posted: 23 Dec 2021 07:28 AM PST Everyone here is this subreddit is very helpful and generally knowledgeable, but I'd like to point out what I think is a failure of the Dept of Education— Long story short, through various website changes it seems a lot of information is lost on the website. How are students supposed to best plan what is right for them without full knowledge about their plans? The main subject is the interest subsidy for PAYE and REPAYE plans. I can't find it in any of the relevant documentation like entrance or exit counseling. It just doesn't exist. Lesser relevant, but I also see a nod to an "Income Sensitive" Repayment Plan (FFEL only). Is this program gone? Who knows— there's no information at all on this plan. Sure they have phased out FFEL loans but there are students that still have FFEL loans. I guess my point is that we should reach out to the Dept of Ed. to try to at least include some this information on the site or in the documents. [link] [comments] |
| I refinanced my loans 3 days ago—but Biden just extended the pause until May Posted: 22 Dec 2021 04:19 PM PST Thank god there is a mandatory three day rescission window! Just canceled with SoFi with no problems. I hate to think how unhappy my Christmas would be if the news broke one day later. For anyone that's refinanced in the last three days — RUN to cancel! [link] [comments] |
| Has anyone actually made a payment to aidvantage yet? Posted: 23 Dec 2021 08:55 AM PST I have anxiety about my payment getting lost in translation somewhere. Need to maximize my 2021 interest deduction by paying off two loans with capitalized interest. [link] [comments] |
| taking out federal student loan, didn’t qualify for federal pell grant? Posted: 23 Dec 2021 08:41 AM PST transfer student here. transferring from a school in hawaii to a school in nyc next semester . i received fafsa for the school in hawaii but now my new school in nyc is saying my dads EFC is " too high " to even receive pell which makes no sense. no one in my family can take out private student loans except for my grandmother so she's the last resort , but how does taking out a federal student loan work? I did the entry class on the fafsa website and applied through my school so what happens next ? Next semester and the next semester I'll be paying out of state which is 9k until i become a resident of New York in 10 more months . Freaking out because idk what to do, i put 12,500 to take out for the federal student loan bc that was the max, and obviously I'm not receiving aid. Edit: my dad is a single parent, sorta living paycheck to paycheck so i just don't get how his EFC would be too high. [link] [comments] |
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