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    January 28, 2022

    Subsidized loans Student Loans

    Subsidized loans

    Posted: 28 Jan 2022 11:09 AM PST

    Do subsidized loans accrue interest while in graduate school, like masters or PhD?

    submitted by /u/Potential_Counter280
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    Need help choosing which loans to pay off first

    Posted: 28 Jan 2022 11:24 AM PST

    Hello,

    I have two sets of loans, federal and private

    My private loan balance is $45,000 at a 12% interest rate

    My Federal loan balance is $70,000 at a <5% interest rate

    ​

    Im thinking of approaching these by paying off the private loans first as the interest rate is way higher, but I have been wondering if it is best to just to pay them off eaqually as I go. The reason is because I am not sure if I will acquire more interest on the federal loans as they have almost double the balance of the private loans.

    ​

    Does anyone have any experience/math that could sway me to one side? Or maybe I should put chunks of cash toward private loans while also paying the minimum amount on my federal loans?

    I do have a job paying $82,000 a year so I am trying to put at least $20,000 toward loans per year.

    Thank you in advance :)

    submitted by /u/brendon1424
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    Why is my payment ONLY going towards interest?

    Posted: 28 Jan 2022 10:52 AM PST

    All my payment during 2020 until now has only been going towards INTEREST and ZERO to PRINCIPAL?!!! Anybody know why this is the reason?

    submitted by /u/MartianMarshmellows
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    Disbursement date 2/2012. First payment 7/2013?

    Posted: 28 Jan 2022 10:38 AM PST

    I graduated college 5/2011. My dad had several parent plus loans for me. He consolidated them into a direct consolidation loan in 2/2012 and was on the standard repayment plan.

    I checked how Great Lakes account and talked to customer service. They say the disbursement date is 2/2012 but the first payment was 7/2013. They said disbursement date and Great Lakes payments show up on their site, but payments to other lenders wouldn't.

    I checked his FSA account and it only says it's been in repayment since 2/2012. Can't find anything about a previous lender.

    Is there anyway to find out what lender he has before? Could there be any other explanation for the gap in payment?

    submitted by /u/AW5542
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    Automatic Disability Discharge of Federal Loans - Can you reverse it?

    Posted: 28 Jan 2022 11:21 AM PST

    My father enrolled in a graduate program in order to further develop a new career that he started. He was very excited to be in the program and was approved for federal student loans and given a student loan award letter by his school.

    This morning the school told him they found out he was in "post-moratorium" status due to disability discharge of federal loans. He never applied for this and has been working since April 2021. He has been on social security disability and has worked off and on for the past several years, but he works as he is able. No physician has ever declared him unfit to work due to disability.

    He is crushed and since he is already 3 weeks into the program (this school does not disburse at the beginning of the term like most schools...only a month after class starts) the school says he can't get any loans after all, despite giving him an award letter confirming his eligibility for federal loans and that he will receive direct unsub loans for his graduate program. They are now saying he is still responsible for half of the tuition! He's been in constant contact with their financial aid department and there were no issues until literally today, so it seems that they aren't very competent...

    Is there a way for him to dispute this or cancel the discharge? He checked his StudentAid.gov dashboard not long ago and it still showed his loan balance. This has completely blindsided him, and I am worried that this will be much more harmful in the long run for him since this is the only way for him to advance in his career.

    I read that it is possible to get federal loans in the future after a TPD discharge with documentation including a physician's note confirming that someone can still work. Under the CURRENT rules implemented by the Biden administration, is there a way to reverse this disability discharge and regain federal loan eligibility? This is COMPLETELY UNWANTED and something he NEVER ASKED FOR!

    If he can't get loans, can he dispute the tuition charges? He has no way to pay for it other than federal student loans. He shouldn't be charged tuition because his financial aid office is incompetent.

    submitted by /u/Melenkurion_Skyweir
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    Friend got too much disbursed to school

    Posted: 28 Jan 2022 11:14 AM PST

    Hello, posting for a friend. They put in a loan application for Discover at the end of May. The cost of attendance used was based off of a full academic year period of enrollment but he was due to graduate in December. On the application he listed 12/31/2021 as the graduation date but checking his loan it's set him to graduate in May. The second payment just went through. He's got a bad relationship with his dad and that's the cosigner so Letter notifications went to another address meaning he never read over the Final Loan disclosure and long missed the right to cancel. What is the best way to repay this money that was sent to the school for a balance he doesn't have? Can it be sent back or does he have to get the money and pay on the loan?

    submitted by /u/Outlawdrake92
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